Groww Review

groww rating
Groww Review
Groww Reputation
10
Trading Platform
9.8
Brokerage and Pricing
9.5
Advisory & Research Facilities
8.8
Customer Services
9.4
Pros
Free of cost Demat account opening.
Zero Demat Account maintenance charges.
Web-based IPO application procedure.
Option to invest in digital gold.
Availability of SME Share trading.
Cons
Availability of SME Share trading.
No physical support.
Zero-Margin against shares.
9.5
Overall Rating

Groww Review, Brokerage Charges, Demat Account, Trading Platform, Margin

For years, investing in stocks was considered cumbersome for many despite the influx of new-age platforms and unprecedented levels of ease. This is the aim of Groww, a new stockbroker in the marketplace. It is based out of Bangalore and offers its clients to invest in IPO, Equity, and Direct Mutual Funds. The stockbroker is promoted by Nextbillion Technology Private Limited, which is a registered member of SEBI, NSE, and BSE.

Groww was launched as a direct mutual fund investment platform in the year 2016. It was the year 2020 when the broker expanded its offerings by jumping into Equity trading. Other investment options available at Groww are US stocks, Digital Gold, Equity-linked Savings, Fixed Deposits, and lots of other options. 

Groww was founded by Lalit Keshre, Neeraj Singh, Harsh Jain, and Ishan Bansal. It presently has over 1.5 crores registered members. According to Lalit, Groww is one of the largest distributors of mutual funds in India with over 2.5 lakh SIPs submitted per month.

The investors of Groww are Ribbit Capital, Sequoia, TigerGlobal, and Propel Venture Partners. It is important to note that Groww is the 8th Indian startup to achieve the status of a unicorn in 2021. 

The most interesting thing about Groww is its user-centric approach which guarantees an easy user experience regarding investments. Groww has placed itself as a full-fledged investment avenue and is poised to do the same whilst freeing up access to financial offerings for the population in India.


About Groww

Type Discount Broker
Founded April 2016
Headquarters Bangalore, Karnataka, India
Key People Lalit Keshre (CEO),
Harsh Jain, Neeraj Singh and Ishan Bansal
Website https://groww.in/

 

Considered among the top stock brokers in India, Groww has come a long way in enhancing the overall stock trading experience of its users. Launched in the year 2016, Groww is essentially a discount stock broker that aims to provide best-in-class, technology-led investment solutions to its users. 

According to stock investment experts, Groww has become immensely popular among new investors due to its extensive exposure to technology.

Salient Features of Groww

  • Zero commission or brokerage on direct mutual fund investment.
  • Trading in Stocks and equity F&O at a fixed discount brokerage fee of ₹20 per order.
  • 0 account opening charges and 0 Demat account maintenance charges.
  • 100% digital account opening right through the app.
  • Super-quick and smart UI embedded mobile App and browser-based trading portal.
  • Option to invest in gold, US Stocks, IPOs, SGB, and ETF.
  • 0 fixed brokerage or 0 hidden charges.

How To Open Demat Account in Groww?

If you are looking to open an account with Groww, you need to know the right procedure. As every stockbroker in India is now riding high on technology, Groww is no exception. Due to the incorporation of newer technology, opening a trading and Demat account has become tremendously easier these days. The same is the case with Groww, where you can employ the latest technology to open a Demat account in no time. 

Being an online discount broker in India, Groww doesn’t feature any kind of footprint in physical. This is why it has a highly advanced Groww app that lets you do a host of things like can invest in currencies, equities, and mutual funds with utmost ease.

Here is the step-by-step procedure to open a Demat account with Groww through its mobile app or browser-based trading platform. 

  • Login to The Groww mobile app or the website (https://groww.in).
  • Jump to the Stocks section, tap on Complete Setup.
  • As there is no charge for Groww account opening, you can easily proceed furth4er by clicking or tapping on “open stocks account”.
  • The next step is to complete the KYC process by entering your AADHAAR card details and PAN number.
  • Once you provide the required details, fill in other details like name, DOB, occupation, and other important information.
  • Next, you will be asked to upload a clear photo.
  • Now, you would have to e-Sign for the AADHAAR by entering an OTP received on the registered mobile number. 
  • Click on Submit.
  • Once your submitted documents are accepted and verified, you can choose to start trading with Groww.

When opening a Demat account with Groww, collect all the required documents for faster application processing. 

First and foremost, you would need a PAN card and AADHAAR card linked with your registered mobile number.

List of important documents required for Groww account opening.

1. Address Proof

  • Electricity bill
  • Ration Card
  • Voter ID Card

2. Identity Proof

  • Driving License
  • PAN Card
  • Aadhar Card

3. One Passport Size Photograph
4. Bank Details
5. Canceled Cheque
6. Passbook
7. Income Proof

  • Last 6-month Account Statement of last 6 month
  • Salary Slip of last 6 months

Another way to open a Demat account with Groww is to download and submit the Groww Account Opening Form.

This procedure of opening a Demat account with Groww is usually preferred by those who don’t have their AADHAAR Card linked with their registered mobile number.

If this is the case, you need to download the account opening from the Groww website (https://groww.in). After this, just search for the area mentioning “mobile number not linked with Aadhaar” during the registration process.

Once you download the form, follow the below-given steps.

  • Provide all the important details asked in the form.
  • Do remember to sign the form wherever asked. After this, attach the self-attested copies of the documents needed for the Groww account opening. 
  • Post the application form to Groww’s head office via courier. 
  • Once provided details are verified, you will get a notification that your account is functional now.

Demat Account Opening Charges

Groww Demat Account Charges

Groww Demat and Trading Account Charges

Trading Charges [Only once] ₹ 0
Trading AMC [Annually] ₹0
Demat Charges [Only once] ₹0
Demat AMC [Annually] ₹ 0
Margin 75% Margin
Dematerialization Available No

 

Please note there is nothing you need to pay at the time of account opening with Groww. It is free. This is one area where Groww has taken a clear edge over other discount brokers in India.

The AMC charges for both the Demat Account and Trading Account with Groww are ₹0. In addition, no margin is required during the process. 


Trading Account & Charges

You would need a trading account with Groww to perform trading in stocks along with a Demat account. Below are the major benefits of owning A Groww trading account.

  • Access to back-office, which means you check your portfolio anytime, anywhere, and keep your finances in check. 
  • Transaction not only in equities but also in others.
  • Highly advanced stock trading platforms for quick, reliable, and limitless trading.
  • No account maintenance charges.
  • Seamless investments in mutual funds.

If you look from a broader perspective, you will derive that Groww account opening is very easy, reliable, and affordable. This is the major purpose behind the launch of Groww to make stock trading seamless and accessible for all.


Groww Brokerage Charges & Fees

Groww boasts a standard fee brokerage scheme for investors. The upper limit on the brokerage is ₹20 per trade order while the lowest limit is 0.05% of the trade value. Apart from the brokerage, investors are subjected to pay several other charges including regulatory charges, transaction charges, Demat charges, and others. 

Using Groww brokerage charges calculator will give you an idea of the Groww brokerage amount you will have to pay along with other charges like SEBI charges, transaction charges, STT, GST, Stamp Duty, etc.

The brokerage is levied by the stock broker against the delivery of its various services. Below are the Groww brokerage charges across investments in commodities, equity, and currency. 

Standard Plan

Category Brokerage 
Monthly Charges (Fixed) NA
Equity Delivery ₹20 per executed order or 0.05% whichever is lower
Equity Intraday ₹20 per executed order or 0.05% whichever is lower
Equity Futures ₹20 per executed order
Equity Options ₹20 per executed order
Currency Futures NA
Currency Options NA
Commodity Futures NA
Commodity Options NA

 

Groww Demat Account Charges

Trade Type Charges
Account Opening Charges ₹0 (Nil)
AMC Charges ₹0 (Nil)
Transaction Charges (Buy) ₹0
Transaction Charges (Sell) ₹8 + ₹5.50 (CDSL Charges) per ISIN
Off-Market Transactions (Sell) ₹8 + ₹5.50 (CDSL Charges) per ISIN
Failed Education ₹50 per ISIN
Pledge Creation/ Confirmation/ Closure ₹20 + ₹12 per request (CDSL Charges))
Pledge Invocation ₹20
DEMAT/Conversion ₹150 per certificate + courier charges
DEMAT/Conversion Rejections ₹0
REMAT ₹150 per certificate + courier charge
Delivery Instruction Book First (10 leaves): Free, Additional (10 leaves): ₹100 + courier charges
Periodic/Adhoc Statement Request Email: Free, Physical: ₹10 per page + courier charges
KYC Modification Request ₹50
KRA Upload/ Download ₹50
Physical CMR(Client Master Report) ₹20 + courier charges
Inter-settlement charges ₹13.5 + GST

Groww Transaction Charges 

These charges are also known as Exchange Turnover Charges or Trade Clearing Charges. 

Category Transaction Charges
Equity Delivery NSE ₹325 per Cr (0.00325%) | BSE ₹300 per Cr (0.003%) (each side)
Equity Intraday NSE ₹325 per Cr (0.00325%) | BSE ₹300 per Cr (0.003%) (each side)
Equity Futures NSE: 002%
Equity Options NSE: 0.053% on premium
Currency Futures NA
Currency Options NA
Commodity NA

 

Intraday Trading Plans

Though Groww is relatively a new trade in the intraday segment, it is known to help investors generate awesome profits. Its intraday services are meant to provide its investors with a wide range of investment services. 

Also known as day trading, this kind of stock trading is very profitable for investors. There are many intraday benefits of using the intraday services of Groww.

  • The intraday brokerage charges are minimal. A standard rate plan is preferred by Groww and charges are levied accordingly.
  • Easy to use trading apps that are lightweight and make intraday easier.
  • Valuable Intraday Tips that can help investors make sound business decisions.
  • Trading account for the intraday segment is free
  • User-friendly trading terminals.

 

Groww Intraday Charges

The intraday charges in Groww are described below:

Intraday Brokerage Charge ₹20 per Trade

Groww Intraday Margin

Margin or Groww Intraday Limits refer to the additional funds given by the stockbroker to the investors. This further helps them to invest with a minimum balance. The cap for the margin is up to 5x.

Why Groww Trading Aaccount?

Groww is considered one of the best places for the trading account. Opening a trading account with Groww comes with several benefits, which aim to make the trading experience affordable and easy.

All their trading services are meant to make trading and investing as simple as possible. Therefore, there is a huge popularity of trading accounts. 

  • Since Groww is essentially a discounted broker, its members can expect to pay reasonable brokerage charges. Apart from standard brokerage rage, which is a big plus for large volume trades.
  • The charges are constant across all the asset categories, apart from delivery trading. However, equity delivery is completely free.
  • Advanced trading platforms that make stock trading seamless.
  • Exceptional customer service as their team is just a call or email away.
  • Option to invest in mutual fund investments.
  • Their trading accounts are easy to manage for beginners and expert traders.
  • Free access to trading apps.

Exposure / Leverage

Groww Margin
Category Trading Margin
Equity Delivery 1x (100% of trade value)
Equity Intraday 5x (Up to 20% of trade value)
Equity F&O 1x (100% of NRML margin (Span + Exposure))
Currency F&O 1x (100% of NRML margin (Span + Exposure))
Commodity F&O 1x (100% of NRML margin (Span + Exposure))

 

Note:- Groww neither gives a margin trading facility (MTF) nor any kind of margin against shares.

Leverage

Groww is known to give up to 8 times of leverage in the case of Equity Intraday trading based on the instability of the market. The degree of the margin border delivered is dissimilar for every asset. For example, in the case of extremely risky stocks, there would be lesser exposure. Similarly, in the case of less risky stocks, the range of margin provided is somewhat difficult and optimum up to 8 times.


Groww Trading Platforms

Being a new discount broker in the market, Groww is poised to leverage technology to bring both ease and functionality to stock trading. Groww trading platform is a testament to the stock broker’s continued focus on advanced technology that features agility and value for its members.

There are two trading platforms provided by Groww – Groww web and Groww mobile app. Both the platforms are available free of cost to investors. 

Being one of the fast ascending stock trading platforms in India, Groww has been growing at a faster speed with several products are slated for launch in both the web and mobile app versions sooner. At present, Groww offers web-based trading services in Equity, mutual funds, and digital gold apart from options to invest in US Stocks and Fixed Deposits.

The mobile app of Groww is extremely popular among today’s investors.

1. Groww Trading App (Smartphone App)

Groww Smartphone Apps

Groww trading app is a highly popular mobile app among investors of all ages. It is available for Android and iOS systems. Users can simply download it for free and start trading at the BSE and NSE. 

The mobile trading app is considered one of the top-rated apps on the Android Play Store and App Store with 4.5+ ratings. In terms of security, the Groww trading app is a pioneer. By using the Groww app, you can invest in Equities and mutual funds. Some of the app’s leading features are:

  • Paperless, faster, and hassle-free Demat account opening.
  • Available for Android and iOS.
  • Enhanced security due to 128-bit SSL encryption.
  • Candlestick chart for a close watch on stock movements.
  • Easy user interface.
  • Single click buying/selling.
  • Easy access to the financial reports of Indian firms.
  • Option to choose from over 5K direct mutual funds.
  • Option to move to direct mutual funds.

2. Groww Trading Platform (Web-Based Trading Platform)

Groww Desktop Platform

Apart from the mobile app, Groww broker also features web-based trading software in the form of a Groww website. It can be accessed on any web browser being used these days. Through this, you can choose to invest in stocks, mutual funds, and even digital gold. This web-based trading platform by Groww Trading Platform has several features including:

  • Faster trade execution.
  • Seamless access to a different online calculator.
  • Easy integration with Groww mobile app.
  • Insightful stock trading content.
  • Full-fledged access to investment-related resources including eBooks.
  • Access to financial performance reports of listed firms in India.
  • Investment in digital gold.
  • Detailed analysis of stocks and mutual funds before investment.
  • Paperless IPO Application.

Customer care

Be it a full-service stockbroker or a discount stock broker, the role of the customer department is extremely crucial. As problems and confusion are bound to occur in the stock broking segment, it is the dedication of the customer care department that doesn’t let them spoil the reputation and credibility of the stock broker. 

Fortunately, Groww has a large team of skilled and professional customer care executives that are experts in their respective domains. 

Most of these customer service professionals are apt in handling problems related to Demat account opening, stock trading, brokerage, and others. The customer service remains available 24/7 which means investors can contact the team anytime, anywhere. This is one area where Groww carries an edge as it has been making the smart use of technology to enrich its member’s stock trading experience. 


Complaints

In this section, you will get to know about the complaints received by Groww from its members and how the discount broker resolved them. In today’s competitive stock trading environment, it is necessary for the stock brokers to pay careful attention to the satisfaction level of their clients if they come across a problem. So, let’s take a look at the number of complaints received and the number of complaints resolved. 

Complains of Groww

Exchange FY Total Complaints Active Members
BSE 2021-22 44 894,812
NSE 2021-22 137 3,604,010
BSE 2020-21 2 2,650
NSE 2020-21 32 780,570
BSE 2019-20 1 2,650

 

Groww Complaints Received at BSE

2021-22 2020-21 2019-20
Active Members 894812 2650 2650
Complaints 44 2 1
Resolved through the exchange 44 2 1
Non actionable 5 0 0
Advised / Opted for arbitration 0 0 0
Incomplete for redressal with exchange 0 0 0
No. of arbitration filed by clients 0 0 0
Preferred by arbitrators in favour
of the members
0 0 0
Decided by the arbitrators 0 0 0
Pending for redressal with authorities 0 0 0

 

Groww Complaints Received at NSE

2021-22 2020-21
Active Clients 3604010 780570
Complaints 137 32
Resolved through the exchange 102 28
Non actionable 20 2
Advised / Opted for arbitration 0 0
Pending for redressal with the stock exchange 15 2

 

Advantages and Disadvantages

Want to associate with Groww by investing in stocks or mutual funds through it? If yes, get to know the major advantages and disadvantages of Groww trading services. 

Advantages

  • Easy brokerage model which incurs flat ₹20 per trading brokerage.
  • Free of cost Demat account opening.
  • Zero Demat Account maintenance charges.
  • Fast-track paperless account opening procedure.
  • Web-based IPO application procedure.
  • Option to invest in digital gold.
  • Direct Mutual Funds landscape that allows the extra earnings of 1.5% returns.
  • Availability of SME Share trading.

Disadvantages

  • No variety in investment product portfolio.
  • Unavailability of trading in commodity, and currency segment.
  • No Call and Trade offerings.
  • No stock tips, recommendation, or research reports.
  • No physical support.
  • Zero-Margin against shares.
  • Margin trading services unavailable.
  • Advanced order types such as BO, CO, AMO, and GTT are not there.
  • Unavailability of trailing stop-loss orders in the mobile app.
  • No NRI trading.
  • No option to invest in SME IPOs.

Conclusion

Launched in the year 2016, Groww has become a long way in adding more value to its members by making stock trading easy and seamless. With its people-centric approach, Groww has managed to gain over 8 million+ members.

All its technology-led products aim to offer quality service in every aspect of trading. In addition, its standard-free brokerage plan is a big plus to investors who find it beneficial to invest under this plan. This way, investors can choose to invest in all popular stocks affordably and easily.

In addition, their outstanding customer service is outstanding which makes any problem minuscule. Their customer service team is available around the clock making trading extremely easy. 

Whether you an occasional investor or a regular one like intraday trading, Groww presents the best of both worlds. It is quite popular among young stock investors. 


Groww Review FAQs

Q. What is Groww?

Ans. Whenever it comes to considering the fastest-growing trading platforms in India, Groww emerges at the top. Set up in 2016, Groww is based out of Bengaluru and is primarily known for offering digital stock investment options to investors. 

Initially started as a mutual funds platform, Groww then made an entry into stocks through an advanced app – Groww. At present, Groww has over 80 lakh registered members who can choose to invest in the stock of Indian companies and digital gold. 

The idea behind the working of the Groww App is “Investing should be as easy as online shopping”. Groww app is very much close to this statement as it is extremely easy to use and presents a hassle-free way of stock investments. 

Q. How to open a Groww Demat online?

Ans. Below is a step-by-step procedure for opening a Groww Demat through the Groww app on web trading software. 

  • Login to The Groww mobile app or the Groww website.
  • Visit the Stocks section, click on Complete Setup.
  • Since Groww account opening is free of charge, you just need to click or tap on “open stocks account”.
  • The next thing to do is to complete the KYC process by feeding in your AADHAAR card details and PAN number.
  • After this, fill in other details like name, DOB, occupation, and other crucial details.
  • Next, upload your clear photo.
  • Then, e-Sign for the AADHAAR by entering an OTP received on the registered mobile number. 
  • Tap on Submit.
  • Once your submitted documents are uploaded and verified, you can choose to trade with Groww.

Q. What is AMC for Groww?

Ans. The Account Maintenance Charges for Both Demat Account and Trading Account is Zero. This is great for price-conscious investors.

Q. Can I invest in an IPO via Groww?

Ans. Yes. You can invest in an IPO through the Groww app. Just fill out the IPO application form and agree to the underlying conditions.

Q. Which is the trading app of Groww?

Ans. It should come as no surprise. Groww trading app is extremely popular in the stockbroking landscape and is based on highly advanced technology. It has a user-friendly interface that makes stock trading easy and seamless.

Q. How much amount does Groww charge for delivery?

Ans. In the case of equity, the delivery charges are ₹20 per executed order or 0.05% whichever is lower.

The Security Transaction Tax (STT) for equity delivery is 0.1% on both Buy and Sell. 

Q. How much amount Groww charge for intraday?

Ans. The intraday charge levied by Groww is ₹20 per trade

Q. How much growth charge for commodity?

Ans. Groww doesn’t allow commodity investments.

Q. How much does growth charge for currency trading?

Ans. Groww app doesn’t allow its members to indulge in currency trading. 

Q. What are the benefits of Groww?

Ans. The major benefits of Groww are:

  • Easy brokerage model which incurs flat ₹20 per trading brokerage.
  • Free of cost Demat account opening.
  • Zero Demat Account maintenance charges.
  • Fast-track paperless account opening procedure.
  • Web-based IPO application procedure.
  • Option to invest in digital gold.
  • Direct Mutual Funds landscape that allows the extra earnings of 1.5% returns.
  • Availability of SME Share trading.

Q. Is Groww safe?

Ans. Since the Groww app is based on smart technology, it can be considered a safe and secure trading app for investors who can choose to trade in stocks in a hassle-free manner.

Q. Does Groww offer margin funding for share/commodity trading?

Ans. No, margin funding for share/commodity trading is not available. 

 

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