Groww Review 2023

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Groww Brokerage Plan, Fees and Charges

Groww Brokerage Plan with closest competitors

Here we are comparing Groww with its 5 close competitors, who are currently market leader in brokerage industry.

Broker	Groww	5paisa	Zerodha	Upstox	Paytm Money
Service Type	Discount Broker	Discount Broker	Discount Broker	Discount Broker	Discount Broker
Brokerage Range	Rs 20	Rs 20	Rs 20	Rs 20	Rs 20
Account Type	2 in 1	2 in 1	3 in 1	3 in 1	2 in 1
Equity Delivery	0.05% or Rs 20 whichever is lower	Flat Fee Rs 20	Free	2.5% or Rs 20 whichever is lower	2.5% or Rs 20 whichever is lower
Equity Intraday	0.05% or Rs 20 whichever is lower	Flat Fee Rs 20	0.03% or Rs 20 whichever is lower	0.05% or Rs 20 whichever is lower	0.05% or Rs 20 whichever is lower
Equity Futures	Flat Fee Rs 20	Flat Fee Rs 20	0.03% or Rs 20 whichever is lower	0.05% or Rs 20 whichever is lower	0.02% or Rs 20 whichever is lower
Equity Options	Flat Fee Rs 20	Flat Fee Rs 20	Flat Fee Rs 20	Flat Fee Rs 20	Flat Fee Rs 20
Commodity	Not Available	Flat Fee Rs 20	Flat Fee Rs 20	Flat Fee Rs 20	NA
Currency Futures	Not Available	Flat Fee Rs 20	0.03% or Rs 20 whichever is lower	0.05% or Rs 20 whichever is lower	NA
Currency Options	Not Available	Flat Fee Rs 20	Flat Fee Rs 20	Flat Fee Rs 20	NA
Rating

Type of Account offered by Groww

Indian citizens can open a 2-in-1 means trading cum Demat account together with Groww and experience seamless trading and investing journey. Check out a brief review of Groww Account types below;

Groww Demat & Trading Account

• Groww is a CDSL depository participant to offer a Demat account opening facility. Customers can open Groww Demat + Trading Account for Free at nil charges. The 2-in-1 account allows users to trade or invest in equity, derivatives, FDs, US Stocks, and more. The broker offers a low-cost and hassle-free trading experience on user-friendly platforms at Max Rs. 20/order brokerage.

Groww Mutual Fund Account

• Groww is the best platform for mutual fund investment in a quick and hassle-free manner. To invest in mutual funds, you just have to open a mutual fund account online using the Groww App or trading website. It requires you to register mutual fund KYC and submit a scanned copy of the required documents like PAN card, Aadhaar card, and signature. Groww allows investment in direct mutual funds for free at Rs. 0 brokerage.

How to open Groww Account online?

Groww offers an instant paperless account opening process on the Groww app. The broker offers a Free Demat + Trading Account at Zero account opening charges. Further, there is no Demat AMC fee on the Groww account.

Steps to open a Demat account with Groww online;

1. Download Groww App on your device from Play Store or App Store.
2. Enter your e-mail and mobile number to register.
3. Verify the details by entering OTP sent to your mobile number.
4. Enter PAN card, and bank account details, and verify them.
5. Under the “Stocks” tab, go to the “Complete setup” option and then click on the “Open Stocks Account” option.
6. Check all the Groww charges details, notably, Groww doesn’t charge any account opening fee and AMC.
7. Complete the KYC registration process by entering occupation, income details, parent’s name, etc, and then tap on the “Next” option to proceed.
8. Select your trading experience from the drop-down menu and click on the “Next”.
9. Now, upload your signature on plain white paper. Make sure to sign with a dark ink pen to ensure clear visibility.
10. Complete Aadhaar based e-sign process; you have to enter your Aadhaar card number and verify it with OTP sent to your registered mobile number. E-sign process requires your aadhaar card must be linked with the provided mobile number.
11. Read the instructions on the account opening form carefully, and click on the “Sign Now” to proceed.
12. The page will redirect you to the NSDL e-sign portal. Enter your 12-digit Aadhaar card number, tap on “Send OTP” and then enter the OTP to complete the e-sign process.
13. The screen will display a “Signed successfully” notification and “you can start investing now”.
14. Groww account will get activated within 24 hours after all the details are verified. Upon successful verification, the broker will provide a Client Master Report (CMR) with BO ID or Demat account number on the registered email address.

Groww Mobile App and Trading Platforms

Groww offers user-friendly, easy-to-use, and safe trading platforms across the web and mobile app versions under its brand name. Groww platforms allow customers to transact seamlessly without any hassles. However, it does not provide installable desktop trading software to pro-traders. Have a quick review of the Groww app and trading platforms.

Groww App [Android and iOS Mobile App]

• In 2016, Groww launched a free mobile trading app called Groww App to make investing as simple as online shopping. The smart user interface of the Groww app makes it an extremely simple and the best platform for beginners. It is today one of the fastest-growing platforms and the best platform for mutual fund investment. The app provides a 100% paperless onboarding process, multiple customized watchlists, one-tap order placement, real-time market data, 10+ technical charts with a time frame of 1 min to 1 month, and a price history of upto 10 years.
• The app is a safe and secure app with fingerprint scanner authentication and 128-bit SSL encryption. It also uses the BSE Star MF Platform, therefore all mutual fund transactions are placed directly with AMC.

Groww Web [Web Trading Platform]

• Groww also provides a free browser-accessible online web trading platform to users. Customers can log in to their Groww account on the website and start trading and investing in equity, derivatives, mutual funds, digital gold, US stocks, and apply for IPOs online. Beginners can also access the Groww Academy to learn about the stock market and read the latest financial market news on the Groww Digest.

For detail review of mobile app and download please visit Groww Trading Platform Review.

Groww Trading Pros

Despite brokerage-free mutual fund investment and flat brokerage trading, Groww offers many trading advantages (Pros) pointed as follows;

• Pay Rs. 20 flat brokerage charges.
• Zero account opening fees on Groww Trading & Demat Account.
• Zero Demat account maintenance charges.
• Free direct mutual fund investment at nil brokerage and get an extra upto 1.5% return.
• Easy-to-use, safe, and reliable Groww App and Web platform.
• Apply for IPO online via UPI.
• Invest in digital gold, US stocks, US ETFs, and FDs.
• Get the latest trending news and updates on the Groww Digest.
• Groww Academy is a 100% free learning platform for beginners.
• Zero fixed charges.
• Zero hidden charges.

Groww Trading Cons

Limited trading product availability is a key limitation or drawback of trading with Groww. Check out the list of Groww Trading cons as follows;

• Groww does not offer commodity and currency trading.
• Groww does not provide research, trading tips, and recommendations.
• NRIs cannot open Groww account.
• Advanced orders like Bracket order, Cover order, GTT, and AMO order is unavailable.
• Delivery trading is not free.
• No call & trade facility.
• No margin trading.

Groww Customer Care info

Groww customer care support team offers resolve customers’ issues at the earliest over email and its customer helpline number. It also has “Help & support” section where you can solve your queries regarding payments, orders, account details, and more. The broker does not provide 24/7 customer support and branch support.

• Groww Customer Care Phone Number: 9108800604
• Groww Customer Support Email: [email protected]
• Groww Knowledge Center: https://groww.in/academy

Final thought about Groww

Groww is the best broker for mutual fund investors to undertake paperless investment in direct mutual funds at zero brokerage and earn upto 1.5% extra returns on investment. Further, beginners who are looking to start equity and derivatives trading can choose Groww due to its low-cost online trading services at flat Rs. 20/order brokerage.

Free mutual fund investment, cheapest online trading, and an abundance of educational resources for beginners on the Groww Academy and Groww Digest make Groww an excellent broker for beginners.

FAQs

Groww User Reviews