Incorporated in the year 2016, Groww is a Banglore-based discount broking company. It is the fastest-growing online investment platform in India. It offers flat fee discount brokerage services to invest in stocks and direct mutual funds. In this post, let us take a look at the Groww app review.
Table of Contents
What is Groww App?
Groww App is an online investment platform that allows you to invest in stocks and mutual funds. Groww is the brand name for Nextbillion Technology Pvt Ltd, a SEBI registered stockbroker. It has its online trading platform named Groww (web and mobile trading app). It has a strong customer base of 10 million+ users.
Groww app is designed in such a good way that even a beginner can use it easily. Its interface is very simple to use which makes it more attractive for the new investors. Even it does not charge any fees for opening a Demat account or maintaining the account.
Here is everything you need to know in this Groww review such as features, platforms, brokerage charges, and more.
Products Offered
1. Stocks
2. Mutual funds
3. Fixed deposits
4. Digital gold
5. US stocks
6. Futures and options
Trading Platforms
It offers two trading platforms
1. Web browser-based trading app
2. Mobile trading app
Mobile Trading App
Groww trading application is a mobile trading software available for both Android and iPhone users. The main motive behind the introduction of this app is to make it easier, faster, and convenient for the public to invest in mutual funds and the stock market. This made it quite easy to use even for beginners.
Features of Mobile Trading App
1. Instant online account opening. Complete paperless process.
2. Allows trade in both BSE and NSE.
3. Investment in stocks and mutual funds.
4. Charts for easy track of stocks.
5. Easy to buy and sell.
6. Portfolio management.
7. News about the market.
8. Information about IPOs.
9. Investment in digital gold.
10. Get access to more than 5000 direct mutual funds.
11. Automated monthly SIPs.
12. Simple and easy interface.
13. Customized watch list.
14. Real-time market data.
15. Secured with 128-bit SSL encryption.
Click here to open FREE Account on Groww and Earn Rs.100
Groww Web Version
Along with the mobile application, It also offers an online trading portal for the convenience of its customers. This website can be operated from both mobile phone and computer. Groww website version comes with some additional advantages over the mobile app like comparison of stocks & MF, some informative blogs for education, etc.
Features of Groww website version
1. It is safe to use.
2. Seamlessly connected with the Groww app.
3. It gives your access to various online calculators.
4. Provide you access to resources, eBooks on the basics of investment.
5. You will get informative and educative blogs.
6. Provide you financial reports of Indian listed companies.
7. Investments in stocks, digital gold, and mutual funds.
8. IPO (initial public offerings) application.
9. Portfolio management
Groww App Charges
Following are the Groww app charges:
1. Groww Demat account charges (opening of demat & trading account): Nil
2. Groww charges for Demat Account AMC: Nil
3. The Groww App charges 0% commission on investment in direct mutual funds.
Equity Brokerage Fees
1. Groww intraday charges: Rs.20 or 0.05% of total amount (whichever is low)
2. Groww charges for equity delivery: Rs.20 or 0.05% of the total amount (whichever is low).
3. Futures and option brokerage fees: Flat Rs.20 per order.
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Groww Calculator
You can use the following Groww calculator while investing.
1. Groww Brokerage Calculator
It is an online calculator that will help you in brokerage calculation in advance of carrying out a trade. Click here to use the Groww brokerage calculator.
2. Groww SIP Calculator
It is a simple calculator that allows you to get an idea of the returns on your SIP investments in the mutual fund. Click here to use the Groww SIP calculator.
3. Groww Margin Calculator
This calculator will help you to know the margin you get for delivery and intraday based on your order details. Click here to use the Groww margin calculator.
How to open a Demat account with Groww?
1. First of all, download the Groww app on your mobile phone either from Google Play Store or App Store. Click here to start.
2. Open the app and sign up to open a Demat account.
3. Enter the required details about your occupation, income, father’s and mother’s name for the KYC. And then click on next.
4. Next, enter your bank details.
5. Then enter your trading experience (if any).
6. Next take a passport size photo using an online facility.
7. Here you need to provide your signature for verification.
8. Enter your Aadhaar card number. You will receive an OTP on the linked mobile number. Enter the OTP
9. Create a four-digit PIN for Groww app login. That is all you need to do.
10. Once your account is opened, just Groww login by entering your PIN. And start investing!
Click here to open FREE Account on Groww and Earn Rs.100
Advantages
1. Free account opening
2. No account management charge
3. Minimal brokerage fees
4. Easy to use even for beginners.
5. Easy and fast account opening
6. News about stocks
7. Mutual fund investment option
8. Quick response to the queries
9. You can buy digital gold
10. Portfolio management
11. Custom watch list
Disadvantages
1. No Call and Trade platform facility.
2. Does not provide stock tips, research reports, and recommendations.
3. Do not provide branch support.
4. There is no margin trading facility.
5. No Margin facility against shares.
6. No trading facility for NRI.
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Groww Customer Care Number
Groww’s in-built help and support section have a huge collection of answers to solve your problem. However, if you still want to speak to the customer support team. Then you can call the following number.
Groww customer care number – 9108800604.
Timings are:
Monday – Friday – 9:00 am to 7:00 pm
Saturday – 9:00 am to 2:00 pm
Frequently Asked Questions
1. Is Groww App free?
Yes, it is free. It does not charge anything for the app usage.
2. Is Groww App safe?
Yes, it is a safe and secure application with 128-bit encryption.
3. What are Groww Demat account charges?
There is no charge or fees on account opening and account maintenance.
4. What are Groww intraday charges for equity trading?
Equity intraday brokerage charges are Rs.20 or 0.05% of the total amount (whichever is low).
5. What is invite and earn on Groww App?
You can share and earn cash rewards of Rs.100 on every successful referral. Moreover, your referral also gets Rs.100 when opens/activates the account using your link.
Final Thoughts on Groww Review
Groww App is an online trading platform that provides you an easy medium to invest in stocks and mutual funds. It is one of the best trading platforms in India. It provides both a mobile app and web portal for easy trade. Even there are no charges for account opening and account maintenance. This makes it a good option for newcomers who want to invest in the stock market.
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