Groww is a well-known broker in India providing direct investment services in other financial products. The platform offers many tools and resources to help you make informed investment decisions.
About Groww
Groww was established in 2016 and is based in Bangalore, India. The online platform offers services for investing in stocks, futures & options, mutual funds, and IPOs. It provides a discounted flat brokerage fee, distinguishing it from most of its competitors on the market.
Groww is owned by Nextbillion Technology Private Limited and is a registered SEBI broker and member of NSE and BSE. Previously, you could only invest in mutual funds on the online platform, but it has expanded its range of products to include investing in US stocks, intraday trading, and ETFs.
Online broker Groww charges ₹20 or 0.05% per executed order (whichever is lower). This allows clients to make large trades without worrying about floating charges. A brokerage calculator is also available on the online investment platform to calculate the charge in advance.
Groww is an excellent choice for anyone looking for an easy, reliable, and secure online trading and investment platform in India. It is user-friendly, offers a wide range of investment options, and provides excellent customer service.
Groww online account opening
Opening an online account with Groww is quick, easy, paperless, and without mailers. There are no account opening fees, one-time payments, or maintenance charges for the Demat account. You only need to register on their website or download the Groww mobile app.
You can begin sign-up by providing basic personal information, such as name and contact details. You will also need proof of identification, such as a PAN and Aadhar card. The broker will verify the provided details, and within just a few hours, you can start investing in stocks by logging into your account.
Groww trading software and app
Groww offers you a comprehensive investment and trading platform via a mobile app and website. You can easily switch between them.
Groww started as a mutual fund investment platform in 2016 and expanded its financial products list in the mid-2020s to include stocks, digital gold, fixed deposits, corporate FDs, and more. With a user-friendly interface, Groww makes it easy to track and manage multiple assets and portfolios and make informed investment decisions.
Groww mobile app
The investment and trading app provides a convenient way to invest and trade stocks and other financial instruments worldwide. You can track market data and trends or your investments in real time and around the clock.
You can create alerts to be notified of market changes and place orders on the go. In addition, the investment app supports a range of financial instruments, including mutual funds and stocks. Groww has established itself as a safe and secure app in India with an active trading audience.
Groww web version
The Groww web platform is designed to provide a convenient way to invest in the best mutual funds, stocks, IPOs, and other financial instruments from any device connected to the Internet. The website offers a range of features to make investing and trading easier, such as technical analysis tools, real-time news and research, and the ability to track numerous portfolios and stocks.
The Groww platform lets you quickly and easily place orders and access your account information. With one of the best features and a user-friendly interface, the web-based platform is an excellent choice for investors and traders.
Mutual funds
Groww is one of India’s best mutual fund investment websites with low charges of just 20 rupees. It has over 5000+ mutual funds available through SIP and lump-sum modes of investment and over 35 mutual fund partners.
Groww offers zero brokerage fees on all mutual fund investments. It provides various mutual fund trading options depending on your financial goals and risk tolerance. In addition, Groww offers free transfer of your regular mutual funds from external sources to direct mutual funds.
Pros and Cons
Groww is an emerging trading and investment platform in India with advantages and disadvantages that you should know in advance.
Pros:
- Instant, paperless, and free account opening.
- Flat ₹20 brokerage charge per executed order.
- Zero Demat AMC fees.
- Direct mutual funds investment option to increase 1.5% the return on investment by.
- Application for an IPO through a mobile app or website online.
- Investments in digital gold are available.
Cons:
- Call and Trade services are not available.
- No margin trading.
- Limited customer support through the branch facility.
- Cannot invest in shares registered and listed in SME.
- No NRI trading facility.
- Do not support investment in the currency segment and other commodities.
- Advanced types of orders are not available.
Note! Groww is a registered SEBI broker and distributor of AMFI mutual funds. SEBI tracks and verifies all its transactions, excluding any fraudulent activities.
Groww ratings
The overall performance of an investment platform can be monitored through customer rating. These ratings describe the user experience over several aspects. Compiled through customer reviews for the trading app on Google Play and App Store, the overall rating for Groww is 4.5/5 stars.
Other rating parameters are listed below:
- User Experience: 4.0/5
- Brokerage: 4.0/5
- Fees: 4.3/5
- Customer Support: 3.7/5
- Market Research Data: 3.2/5
As of February 2023, the Groww investment app has been downloaded over 10 million times on Google Play, making it one of the most popular Indian platforms. It has over 800,000 customer reviews with an overall high-performance rating of 4.5 on Google Play and App Store.
Conclusion
Groww provides online access to the best mutual funds to invest in India, competitive brokerage charges, and real-time market data and doesn’t need ads. In addition, the platform offers a range of features and research tools to help you make informed decisions.
However, investment opportunities come with the risk of losing funds. Ultimately, an online platform can provide a convenient and safe way to invest, but your investment decisions are your responsibility.
