Groww Review 2021
Groww Track Record Of Best Online Stock Broker In India
GROWW is an Indian SEBI registered stockbroker that targets first time investor and millennials. Incorporated in April 2016 in Bangalore as a brand of Nextbillion Technology Private Limited. In the mid of 2020s, company expanded its services and started stocks investing service on its platform. Groww is an electronic platform that offers online flat fee discount services to invest in equity, IPO and direct mutual funds. This lightning fast and crystal-clear investment platform is a sensation of new era with more than 10 million customers and also Groww is one of the highest rated app (4.5+) in Google play store and App store.
As a member of NSE and BSE, Groww also provides opportunity to invest in Digital Gold, US Stocks and Fixed Deposit. Groww charges Rs. 20 or 0.05% of trade value as the brokerage for equity trades (Intraday). Groww has its own trading platform known as GROWW ( Web and Mobile Trading App). Groww’s motive is to make investing or trading as simple as online shopping. This is a very safe, reliable and user-friendly platform.
Groww provides free mutual fund services with Rs. 0 charges in investing or redemption of mutual funds. This is a digital platform with clean user interface. Groww has made investing and trading very easy and hassle free.
Features of Groww
• 100% paperless online account opening.
• Zero charges on opening a trading and demat account.
• Zero AMC on demat and trading account.
• Depositary participant of CDSL depositary.
• No hidden charges or commission on direct mutual funds.
• Investor can start with a very low amount.
• Switch from regular funds to direct mutual funds.
• Maximum brokerage per trade is Rs. 20 or 0.05% of trade value.
• Awareness through eBooks and informative blogs.
• Zero charges on stock delivery.
• Any NRI can invest in stock market via NRI Account through Groww.
Exchange Traded Funds (ETFs)
New Fund Offerings (NFO)
Groww Brokerage Plan
• Groww is a discount broker which follows fixed brokerage model of Rs. 20 or 0.05% (whichever is lower) per executed order.
• Zero Account Maintenance Charges on demat and trading account.
• Zero charges on demat or trading account opening.
• Auto square off charges Rs. 50 per position.
Groww’s Advantages & Disadvantages
• Commission free investment for customer.
• Transparent without any hidden charges.
• Upto 1.5% extra returns on direct mutual funds.
• Provide facility to invest in US stocks, Gold and ETFs.
• Online IPO application.
• Zero charges on direct mutual funds
• Very simple and intuitive UI.
• Offers a wide range of premium features.
• SEBI registered advisor in the name of Finvantage Investment Advisor Pvt Ltd.
• In-built customer support section or directly email them on firstname.lastname@example.org
• Groww also has a live chat option.
• Dilution in the name of diversification.
• Due to higher cost of some mutual funds, so mutual funds charge for managing the funds, fund manager salary, distribution cost etc.
• It does not suit customers with unpredictable cash flows.
• Customer is unable to analyse funds technically and in-depth.
Frequently Asked Question
Yes, Groww offers to invest in the US stocks, you need to open a overseas account on Groww. This is the outstanding facility provided by Groww.
As you’re younger than the maturity age (18 or 21), you need to open a custodial account, with an adult as the custodian. As Pan card is must to open your demat and trading account.
No, it is not necessary to have a demat account to invest in mutual fund but to invest in stocks, you should have demat or trading account.
Groww is a very safe platform in which personal information is stored using 256-bit encryption. This platform offers a wide range of affordable products.
Yes, investing in Equity Linked Saving Scheme (ELSS) through SIP enables you to claim a deduction of Rs. 1.5 lakh from your taxable income under Section 80(C) of the Income Tax Act, 1961.
Yes, it will take 4-5 business days for the whole process to transfer your shares from old demat account to new account and existing broker will charge something to transfer your shares to new broker.
Customer’s demat account on Groww is registered with CDSL. So we can say that Groww is the CDSL participant.
To invest in digital gold on Groww, you should be a resident Indian with verified KYC.
Customer can buy digital gold as low as Rs. 10 and you can buy digital gold worth Rs. 1.7 lakh in your first order after that for all subsequent purchases, there is no such restrictions.
There are 4 types of mutual fund. • Equity (Stocks) • Fixed income (Bonds) • Money market funds (Short term debt) • Both stocks and bonds (Balanced or hybrid funds)
Blue chip mutual fund is the one that invests in well established companies with excellent overall experience known as blue chip stocks or shares.
Yes, customer can open many demat and trading account with different brokers but you can hold only one account with one broker.
Yes, you can invest in upcoming IPOs on Groww in realtime.
It offers 24-karat gold of 99.90% purity.
Auto square time of all intraday positions is at 3.10 pm.