Groww Review: Brokerage Charges, Margin, Trading and Demat Account

Managing your finances and making wise investments has become more critical than ever in the fast-paced world of today. Fortunately, the growth of fintech firms has given people access to a variety of investing platforms that provide simplicity, flexibility, and chances to build wealth. 

And, in this growth journey of Fintech companies, Groww has emerged as one of the most promising players. Investors are growing fond of Groww, a not-so-old and not-so-new entrant in India's financial technology scene. 

And, in this blog, we’ll examine every facet of Groww so that you can decide for yourself whether it's the best investing platform for you or not.

Overview of Groww

Groww is an online discount broking platform that allows users to invest in mutual funds, stocks, digital gold, US stocks, and fixed deposits. It was launched in 2016 by four former Flipkart employees: Lalit Keshre, Harsh Jain, Ishan Bansal, and Neeraj Singh. The platform aims to make investing simple, transparent, and accessible for everyone.

As of June 2023, Groww had an active client base of 56,54,456. It is also one of the highest-rated apps (4.5) in the Google Play Store and App Store. 

Groww has received funding from prominent investors such as Y Combinator, Sequoia Capital India, Ribbit Capital, and Tiger Global.

Groww Account Setup and User Interface

Setting up an account on Groww is easy and paperless. The account opening process is designed to be user-friendly and straightforward, even for individuals who may be new to investing. To get started, users can download the Groww app, which is available on both Android and iOS platforms, or visit the Groww website.

The account setup process involves:

Registration: Users are required to provide basic information, including their name, mobile number, PAN number and email address. Groww follows the Know Your Customer (KYC) norms, and users will need to complete their KYC process, which involves submitting identity and address proofs.

Bank Account Linking: To facilitate investments and withdrawals, users need to link their bank account with Groww. This is a one-time setup and is done securely.

Once the account setup is complete, users can start exploring the platform's features and investment options. Groww's user interface is lauded for its simplicity and intuitiveness. The dashboard provides a clear overview of the user's portfolio, investment performance, and available funds. Navigating through various sections of the app or website is hassle-free, making it an ideal choice for both beginners and experienced investors.

Investment Options in Groww

Groww offers a wide range of investment options for users to choose from. These include:

• Mutual funds: You can invest in over 5,000 mutual funds from 40+ AMCs on Groww. You can invest in direct plans of mutual funds without paying any commission or fees. You can also switch your existing regular plans to direct plans on Groww. You can invest in mutual funds either as a lump sum or as an SIP (systematic investment plan). You can also filter and sort mutual funds based on various parameters such as category, rating, returns, risk level, etc.
• Stocks: For those interested in direct equity investments, Groww offers a seamless stock trading experience. Users can buy and sell stocks listed on Indian stock exchanges, making it a one-stop destination for both mutual funds and stocks.Users can access live market data, charts, news, and analysis on Groww, and can also create watchlists and alerts for their favourite stocks.
• Gold: Users can also invest in gold on Groww. They can do this through gold ETFs, SGBs or gold funds.
• US stocks: Users can also invest in US stocks on Groww. All they have to do is activate their international trading account, which takes just 5 minutes, and then add funds to their Groww USD balance by transferring money from their bank account to the account of a US-based beneficiary, and then start investing.

Groww Investment Tools and Features

Groww provides various tools and features to help users make informed investment decisions. Some of these are:

• Research tools: Groww offers research tools such as fund explorer, stock screener, IPO calendar, etc., to help users find the best products for their goals and risk appetite. These tools allow users to filter and sort products based on various criteria such as returns, ratings, risk level, sector, industry, etc.
• Groww Calculator: Groww offers various calculators such as SIP calculator, lump sum calculator, retirement calculator, etc. to help users plan their investments and estimate their future returns. These calculators allow users to input their investment amount, duration, expected return, inflation rate, etc. and get the output as graphs and tables.
• Investment tracking: Groww allows users to track their investments across different products and categories on a single dashboard. Users can see the performance, value, profit/loss, and allocation of their investments on Groww. Users can also view the detailed statement and transaction history of their investments on Groww.
• Portfolio management: Groww allows users to manage their portfolios on Groww. Users can also export their external investments on Groww.This allows users to see all their ongoing mutual fund investments in one place. Hence, they will be able to check the individual performances of the funds as well as the collective performance of your portfolio. Accordingly, they will be able to rebalance their portfolio.
• Learn: Groww offers a learning section where users can access various educational and informative resources such as blogs, ebooks, videos, podcasts, etc. on various topics related to investing and personal finance. These resources help users learn the basics of investing, understand different products and concepts, and stay updated with the latest market trends and news.

Groww Brokerage Charges

• Groww does not charge any fees or commissions for investing in mutual funds. 
• Groww does not charge any account opening or maintenance fees for its users.

Charges	Equity Intraday	Equity Delivery	Futures	Options
Securities Transaction Tax (STT)	0.025%	0.1%	0.0125%	0.0625%
Stamp Duty	0.003%	0.015%	0.002%	0.003%
Exchange Trasanction Charge	NSE: 0.00325% BSE: 0.00375%	NSE: 0.00325% BSE: 0.00375%	NSE: 0.0019% BSE: 0.00%	NSE: 0.05% BSE: 0.005%
SEBI Turnover Charge	0.0001%	0.0001%	0.0001%	0.0001%
DP Charges	₹0	₹13.5 per company	₹0	₹0

Groww Customer Support and Service

Groww provides 24*7 customer support and service through various channels such as email, chat, and phone. Users can contact the customer support team for any queries, issues, feedback, or suggestions related to the platform or products.

However, as per customer reviews, assistance over call is only provided upon request. Groww also gives the option to raise a ticket.

Users can also access the help section on the platform, where they can find answers to frequently asked questions (FAQs) on various topics related to the platform or products.

Security and reliability

Groww is a trustworthy investment platform for several reasons:

• Regulatory Compliance: Groww is registered with SEBI and holds memberships with major stock exchanges, ensuring it operates within legal boundaries.
• Transparency: Groww maintains transparency in its operations, avoiding false promises and hidden fees.
• Security: The platform employs robust encryption to safeguard customer data and investments.
• Privacy Protection: A clear privacy policy assures customers that their data remains safe and secure.

Advantages of using Groww

Some of the advantages of using Groww are:

• Simple and easy: Groww has the simplest interface and is an easy platform that allows users to invest in various products with just a few clicks. The platform has a user-friendly interface that guides users through the entire process of investing.
• Zero commission: Groww does not charge any commission or fees for investing in mutual funds. This helps users save money and earn higher returns.
• Wide range of products: Groww offers a wide range of products for users to choose from. Users can invest in mutual funds, stocks, digital gold, US stocks, fixed deposits, etc., on Groww.
• Research tools: Groww offers research tools such as fund explorer, stock screener, IPO calendar, etc., to help users find the best products for their goals and risk appetite. These tools allow users to filter and sort products based on various criteria such as returns, ratings, risk level, sector, industry, etc.
• Calculators: Groww offers calculators such as SIP calculators, lump sum calculators, retirement calculators, etc. to help users plan their investments and estimate their future returns. These calculators allow users to input their investment amount, duration, expected return, inflation rate, etc. and get the output as graphs and tables.
• Investment tracking: Groww allows users to track their investments across different products and categories on a single dashboard. Users can see their investments' performance, value, profit/loss, and allocation on Groww. They can also view their investments' detailed statements and transaction history on Groww.
• Learn: Groww offers a learning section where users can access various educational and informative resources, such as blogs, newsletters, videos, etc., on topics related to investing and personal finance. These resources help users learn the basics of investing, understand different products and concepts, and stay updated with the latest market trends and news.

Limitations of Groww

Some of the cons or limitations of Groww are:

• Limited product categories: Groww does not offer some product categories, such as bonds, debentures, NPS (national pension system), PPF (public provident fund), etc., that are available on other platforms. Users who want to invest in these products may have to look for other platforms or sources.
• No advisory services: Groww does not offer advisory services or recommendations to its users. Users must make their own investment decisions based on their research and analysis. Users who want professional guidance or advice may have to look for other platforms or sources.
• No commodity trading: Groww does not offer commodity and currency trading services to its users.
• Lack of additional features: Grow does not offer additional features like a 3-in-1 account, free trading calls, or free research offers. It also does not give its users the facility of margin funding or margin against shares.
• Limited order types: Advanced order types like BO, CO, AMO, and GTT are not available.
• No NRI Trading: Groww does not offer NRI trading services. 
• SME IPOs are not available on the platform.

Comparison with competitors

Groww faces competition from other similar investment platforms available in the market. Some of the major competitors of Groww are:

• Zerodha is India’s largest stockbroker and one of the pioneers of discount broking. It offers trading and investing in stocks, mutual funds, commodities, currencies, derivatives, etc. It also offers various tools and features such as Kite (trading platform), Coin (mutual fund platform), Varsity (learning platform), etc.
• Angel One (formerly Angel Broking) is one of India's leading full-service brokers, with over 1 crore customers. Angel One offers a robust and versatile online trading platform called ‘Angel One Trade’ for traders who wish to log in directly instead of downloading the software.
• Upstox is India's fourth-largest discount broker, with over 1.1 crore customers. It offers a fast and elegant trading platform called Upstox Pro, which is available as a web-based application and a mobile app.
• 5paisa is one of the fastest-growing discount brokers in India. 5paisa provides affordable financial services such as online trading, mutual funds and insurance. 

Here is a table that compares some of the key aspects of these platforms with Groww:

Comparison Table

Broker	Account Opening Fees	Annual Maintenance Charges	Equity Delivery	Equity Intraday	Call & Trade Charges
Zerodha	₹300	₹300	Zero	0.03%	₹50
Angel One	Free	₹240	Zero	0.25%	₹20
Upstox	Free	₹150	2.5%	0.05%	₹50
5paisa	Free	₹300	₹10	₹10	Free
Groww	Free	Zero	0.05%	0.05%	No

Conclusion

Groww is a platform that offers a simple and easy way of investing in various financial products. It has a user-friendly interface, zero commission, a wide range of products, and useful tools and features. It is also secure and reliable and has a responsive customer support team.

However, Groww also has some limitations, such as limited product categories, no advisory services, and no margin trading. It also faces competition from other similar platforms in the market.

Therefore, Groww may be a good choice for users who want to invest in mutual funds, stocks, digital gold, US stocks, or fixed deposits without paying any fees or commissions. It may also be a good choice for users who want to learn and explore different products and concepts related to investing and personal finance.

However, Groww may not be a good choice for users who want to invest in other product categories, such as bonds, debentures, NPS, and PPF, or for those who want to trade in commodities or currencies.

Ultimately, the choice of the platform depends on the user's goals, risk appetite, preferences, and needs. Users should do their own research and analysis before investing in any platform or product. Users should also be aware of the risks and rewards of investing and should invest only what they can afford to lose.

We hope this blog post has helped you understand Groww, its features, fees, pros and cons, and how it compares with similar platforms in the market.