Groww Review – Charges, Trading Platforms, Demat Account, Offers & more

Check out Groww Review here. Groww has become one of the most popular online brokerage houses in recent years.

With its unique approach towards financial literacy, and knowledge for all with its resources, Groww has recently touched everyone with a bit of interest in finance and investment.

This article is going to be a full-fledged Groww Review where you will get the details about the SWOT analysis of the company, Groww Charges, offers, facilities, and a lot more. So, stay tuned!

Why Trade or Invest with Groww?

The primary reasons to trade or invest with Groww Account are –

• Its simple and customer-friendly pricing plans
• Paperless account opening process
• Free account opening and annual maintenance
• An abundance of investment options – equities, mutual funds, IPOs, and a lot more
• Direct mutual fund investment without any intermediary can help in increasing returns by around 1.5%, approximately.
• Mobile trading applications and other trading platforms are super-fast and have new-age technology to match new-age traders’ and investors’ requirements.
• Finally, the most important reason to trade with Groww is its never-ending knowledge source. This broker offers all kinds of resources on finance and investment, be it articles, studies, insights, research reports, or everything else you need.

As stated above, the Groww Brokerage plan is customer-friendly, so, Groww offers

• Equity delivery, intraday, and futures at a brokerage of Rs. 20 or 0.05% (lower of the two)
• Equity options at brokerage charges of Rs. 20 flat per trade.

This simplified brokerage plan is known as the Standard brokerage plan, where there is no subscription fee as well.

As you can see, neither the brokerage is on the higher side, nor is it complicated to understand.

Groww Calculator

Calculate Brokerage Charges of Groww.

How to Open Groww Demat Account?

Opening Groww Demat Account takes hardly two minutes and is hassle-free. All you need to do is to follow the steps below –

• Can you see the ‘Open Demat account” form on this page? Click on that and then fill in the details it is asking for.
• Once you fill in the details and submit the form, you will get a call back from the Groww representatives.
• They will tell you which documents you will need to upload for KYC, and once you do that, your application will be processed.
• If the application is approved, your account will get created, and you will get the login credentials on the email id which you have used to create the Groww account.

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Groww being a tech-first online discount brokerage house, the types of trading platforms it offers are also a crucial part of this Groww Review Follow here –

• It offers a mobile investment platform for iOS and Android Users.
• Then there is a mutual fund investment platform that offers thousands of mutual funds to choose from.
• Also, a web-based trading platform requires no download or installation.

Check out various Trading platforms & their features provided by Groww.

Groww App

As discussed above, Groww App is the central trading platform of Groww, and the features it has to woo the users include –

• Detailed market details with a super-friendly user interface. This mobile trading app from Groww is one of its kind with its unique easy use yet full of insights. You can check different market aspects within a few seconds just by clicking on a few tabs on your mobile screen.
• For active traders, Groww has designed a super-fast ordering facility. You can place an order within a blink of an eye. This helps in missing out on the desired price you want to trade.
• If you are looking for IPOs, this app has that as well. You can check all upcoming IPOs, your IPO application, approvals, and allotments all under one roof. You can evaluate the MOA and RHP of the companies coming up with IPOs for detailed analysis, and also, there are in-depth analyses offered by the Groww research team for all the IPOs.
• Often, active traders do not consider mobile apps as they have to use multiple charts and trading tools. However, this is different from the Groww app. In this mobile trading app, you will find integrated advanced-level charts and other tools for thoroughly researching your next move in the market.

Groww Mutual Fund App

Apart from the mobile trading app for intraday trading and stock investments, you can use the application for direct mutual fund investment as well –

• There are more than five thousand mutual fund schemes available on the platform.
• You can invest via both the routes that are – SIP and lump sum
• There is SIP and lump sum mutual fund calculator in the tools section of the app. You can use the same to anticipate returns from your mutual fund investments.
• There is no commission on investing in mutual funds using the Groww App. Moreover, there are no extra fees as well.
• You can also get the detailed performance of each fund on the app or the web-based platform of Groww. From average returns to rolling returns to category averages and other financial ratios to analyze the funds are all here in one app.
• With multiple categories as per investors’ choices and preferences, you can easily filter out funds that suit your purpose without any hassle.

Groww Web Trading Platform

Coming to the browser-based platform, it is –

• Easily accessible, you need to open the Groww website, and there you go, log in with your Demat account and trading account id and password and start trading.
• There are all the charts, tools, and investment instruments available for use.
• You can trade derivatives as well on this web-based platform

The Groww offers that you can avail of includes –

• Free account opening for both Demat and trading accounts.
• There are no annual maintenance charges that you have to pay to maintain your account.
• You get a flat brokerage plan.
• For referring new prospective clients, who open an account with Groww, you can get Rs.300 per account.
• Trade with a margin trading facility so that even when you are short on capital, you do not have to worry about taking a position in the market.

Groww SWOT Analysis

Check out the SWOT Analysis of Groww.

Strength

• Groww’s one of the primary strengths has to be its Lower brokerage charges.
• The brokerage firm offers a comprehensive list of investment options, from domestic equities to US stocks to IPOs
• Hi-tech Trading platforms are another strength of Groww as trading and investment are becoming online entirely nowadays.
• There are multiple offers apart from low brokerage charges, which help the investors and traders save on trading costs.
• The Groww platform is a Knowledge Bank. It has infinite resources for people who want to learn about the stock market, financial services, products, finance, and investments.

Weakness

• Groww is a discount brokerage house, and in this industry, the competition is getting fierce daily, with new entrants and veterans turning into discount brokers.
• Groww being a new brokerage house, is yet to offer currencies or commodities for trading.
• The customer support of Groww needs to be improved as it is not at par with the current standards.

Opportunities

• The IPO market is booming, with many starts ups domestic businesses flourishing. This is an opportunity for Groww as a broker and its users to explore options in the IPO market.
• The scope for financial literacy is enormous, which Groww can explore with its exceptional approach to sharing knowledge and insights into the market.
• The next ten years are predicted to be years of growth for the Indian economy, which means a positive effect on the stock market and, thus, an increase in investments.

Threat

• The rising digital crimes are a threat to online brokerage houses
• Groww offers US stocks as well, and in this space, foreign stock brokers are a threat as they are offering direct services to Indian investors
• Stringent regulations of SEBI

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When you open a Groww Trading Account, you get free access to all the resources of Groww.

Groww published multiple articles on the stock market, stocks, bonds, and mutual funds, which have details of their performance and historical data for analysis.

You can refer to the Groww Digest or the Blog section of the website of the brokerage house for all the insights.

However, the brokerage house currently doesn’t offer individual Research and advisory services.

If you want to trade on margin, you can use the Groww Margin trading facility. Under this, you get to get equities worth five times the amount you have in your trading account.

For instance, you have Rs.10,000 in your account, so in the intraday segment, you can trade shares up to Rs.50,000. Isn’t that awesome?

For the other segments like equity F&O, the exposure level given is 1.3 times, while the delivery segment currently has no leverage facility.

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Groww Customer Care is available at [email protected]. This is the official customer care email id on which you can reach out for any query about their products and services.

You can also call on the Call support number, which is 9108800604. Groww doesn’t have any physical branch offices, so in-person customer support is unavailable.

Groww has been maintaining a cordial relationship with its customer and offers services and products to the best of its abilities, which is evident from the number of Groww Complaints registered.

The total number of complaints reported to date is 181, out of which 163 have also been resolved.

Groww Charges

The Groww Account Opening Charges are nil, and also the annual maintenance charges are zero. Groww doesn’t charge its customers for opening and maintaining accounts.

The Groww Hidden Charges include –

• SEBI Turnover charges which are Rs.10 per crore of transaction amount for all segments
• GST of 18% on the sum of brokerage, SEBI turnover charges, and transaction charges
• DP charges Rs.13.5 per scrip for sell-side
• There are no charges for closing or reactivating the account with Groww.

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Groww Review – Conclusion

We hope this Groww Review has been fruitful for those who are seeking information about Groww as a brokerage house or looking for good brokerage houses to start their trading journey.

You can evaluate each aspect of the firm and not only the brokerage to make a wise decision.

FAQs on Groww

Here are various FAQs related to Groww Review.

Is Groww a Safe Broker?

Groww brings a new-age tech-first broker, offers one of the best security measures for protecting the safety of its clients, and is registered with SEBI as well.

Is Groww Good for Beginners?

Groww can be the best choice for stock market beginners as Groww offers ample learning resources to learn about trading and investment and a flat brokerage plan.

How many active clients does Groww have?

Groww has more than fifty-one lakhs of active clients on its platform. Active clients are traders who trade daily or at least frequently.

Who is the Founder of Groww?

Groww was founded by Lalit Keshre in 2016. In just seven years, Groww has become one of the best fintech brands in the country. The broker has its base in Bangalore, and there are no branch offices to take note of.

Does Groww provide Free Delivery Trading?

No, Groww charges the lower of Rs. 20 or 0.05% of the transaction per trade for the delivery segment.

What are Intraday Trading Charges in Groww?

The brokerage charges for the intraday segment at Groww are either Rs. 20 or 0.05%, whichever is lower, for each trade executed on the platforms of Groww.

What are Groww F&O Charges?

The charges for equity futures trading is Rs. 20 or 0.05% (lower of the two), while for the options segment, it is fixed at Rs. 20 per trade.

Does Groww charge for Commodity Trading?

At present, Groww is not offering commodity trading. So, brokerage charges are not available for the same.

Does Groww charge for Currency Trading?

Similarly, for Currency trading, there are no charges as currency trading is not taking place at present on Groww platforms.

Does Groww provide Research?

Groww offers learning resources, educational blogs, and insights; however, in-depth research reports or suggestions are yet to be available from Groww at present.

How to contact Groww Customer Care?

You can reach out to [email protected] or call on 9108800604. They are also available on Facebook/ Twitter and also have their website, which you can use to reach them as well.

How much is AMC in Groww?

The annual maintenance charges at Groww are free. The brokerage charges nothing for maintaining your account once you open it with them.

What are Account Opening Fees in Groww?

The account opening charges or fees at Groww is nil. Anyone can open an account with the brokerage for free of cost.

What are Pledge Creation Charges in Groww?

The pledge creation charges at Groww are nil. The brokerage doesn’t charge anything for pledge creation.

How much are Pledge Invocation Fees in Groww?

For invocating pledges, the pledge invocation charge is Rs. 20 per request.

Does Groww levy any Interest on Margin Trade Funding?

Yes, if you trade using a margin trading facility, then you have to pay an interest charge of 0.045% per day on the amount of margin availed for the number of days you availed the margin.

What are DP Charges in Groww?

The DP charges at Groww is Rs.13.5 per scrip, which is levied on the sell side of the transaction.

Does Groww levy any Account Closure Fees?

Groww charges no fees for account closure with them. It is completely free of cost.

What are Account Reactivation fees in Groww?

For reactivating your account with Groww, you do not have to pay any charges as there are no charges as well.

What are Call & Trade Charges in Groww?

The call & trade facility is not available with Groww, and thus no charges as well.