Groww Review

(3.1)
Discount Broker Depository: CDSL & NSDL
894

Armed with a vision to democratise investing and make it accessible and user-friendly, the four ambitious minds at Flipkart - Lalit Keshre, Harsh Jain, Ishan Bansal, and Neeraj Singh started Groww in 2017. And, in just seven years, Groww became India's number one stock broker with the highest number of active investors. Groww has an active client base of 1,25,94,877 as of October 2024.

Product Basket

The segments in which you can invest (includes Equity, Commodity, Currency, Futures and Options) through this broker

Equity
Commodity
Currency
Futures
Options
Brokerage Plans (Single Plan)

1 or more plans offered by this broker, which outlines, Account opening and maintenance fees charged by this broker, Brokerage charges and Margins provided. Use plan switcher to see the difference in offerings, if multiple plans are available.

Charges

Account Opening Charges

Free

Account Maintenance Charges

Free

Call & Trade Charges

-
Brokerage

Equity Delivery Brokerage

0.1%

Equity Intraday Brokerage

0.1%

Equity Futures Brokerage

₹20

Equity Options Brokerage

₹20

Currency Futures Brokerage

-

Currency Options Brokerage

-

Commodity Futures Brokerage

-

Commodity Options Brokerage

-
Margins

Equity Delivery Margin

0x

Equity Intraday Margin

8x

Equity Futures Margin

0x

Equity Options Margin

0x

Currency Futures Margin

-

Currency Options Margin

-

Commodity Futures Margin

-

Commodity Options Margin

-
Trading Platforms Learn More

Set of software & applications offered by the broker for executing buy and sell orders online. These are names of their portals and mobile apps, for full desc- Full Platform Details.

Website Groww App
Pros

Advantages and Strengths of this broker.

  1. Commission free investment for customers on Mutual Funds
  2. Opening a trading and Demat account is quick and easy.
  3. Users can also purchase US equities, US ETFs, US FDs, and digital gold.
  4. Simple and intuitive user interface.
Cons

Disadvantages of this broker that it needs to improve upon.

  1. Commodity and Currency trading options are not available on Groww.
  2. It doesn't offer analysis, trading advice, or recommendations.
  3. Advanced orders, including GTT, Bracket, Cover orders, and AMO orders, are not accessible.
  4. It does not provide research report on stocks.
Additional Features

Extra features provided by the broker at little or no extra cost. Like research reports, SMS alerts etc.

3 in 1 Account
Free Trading Calls
Free Research Reports
SMS Alerts
Margin Funding
Margin Against Share
Other Investment Options

Services provided by the broker for investing in other financial assets such as Mutual funds, Insurance, Bonds etc.

Mutual Funds
IPO Platform
Bonds & Debt
Exchange Traded Funds
Insurance

Finology Ratings & Reviews for Groww

Ratings are provided based on customer service, usability, charges and overall average. Reviews are based on positive and negative aspects of the broker that help you understand this broker better.

Charges

(3)

Usability

(3)

Customer Service

(3.5)

Charges Review

  • They offer free equity delivery and minimal brokerage.
  • Currently they are also offering annual maintenance for free.
  • They charge GST additionally on Exchange Transaction charges and Auto Square Off charges.
  • Their Auto Square Off Charges are higher as compared to others.

Customer Service Review

  • Groww provides both email & chat support.
  • Their chat support is prompt and ticket raising facilities are also available.
  • As per customer reviews, assistance over call is only provided upon request.

Ease of Use Review

  • Their trading platforms (on App & Website) are similar to each other (which avoids confusion)
  • The interface is user friendly.
  • Groww usually offers Direct plans in Mutual Fund investments but in some schemes, they offer Regular plans as well.

Account Opening Procedure Review

  • They have a seamless online account opening procedure with no physical paperwork involved.
  • For individual accounts, the online account opening process is easy and convenient.
  • If someone opens a Demat account for investing in stocks, and then opts for mutual funds as well, additional formalities would be required. That’s not the case vice-versa.

Why Choose Groww? Know Everything about Groww here.

Verdict

Aiming to simplify, streamline, and provide transparent trading and investing experience for its clients, Groww's trading platforms are constantly improving. Depending on your inclination, you may invest through a web browser or a mobile app, or you can move between them without any hassle.

If you are an Investor, the brokers provide you with

  • Well-drafted educational content to learn about stocks and mutual funds,
  • One app for all investment options ensures easy management of money,
  • Charges zero brokerage on equity delivery,
  • Provision to apply for IPO.

If you are a Trader, the brokers provide you with

  • Similar user interfaces in trading platforms that avoid confusion,
  • App features an on-the-go facility, making trading possible from anywhere,
  • Wide range of charts and indicators,
  • Minimal brokerage charges on trading through Groww.

Trading Tools

Groww offers trading platforms that are user-friendly, simple to use, and secure for its users. The platforms offer hassle-free transactions to clients. Groww's trading tools include:

Website (Groww.in)

They have one platform for every investment instrument-  Stocks, Mutual Funds, Gold, US stocks, ETFs & FDs. The interface is easy to understand and loaded with explanations which makes it easy to go. Its features include:

  • Financial reports of listed Indian corporations.
  • Blogs with instructional and educational content.
  • Simple web portal with easy-to-use features.
  • Opportunity to research and contrast stocks and mutual funds to make a better investment choice.
  • Provision of applying for an IPO online.

Mobile App (Groww App)

The mobile application is similar to their web platform. Investment in Stocks, MFs, Gold, US stocks, ETFs & FDs in just a few clicks. The application is easy to understand.

The Groww app has the following features:

  • Available for iOS and Android mobile platforms.
  • Uses a candlestick chart to follow the stock movement.
  • Has an easy-to-use user interface.
  • Provides access to over 5000 direct mutual funds.
  • Option for switching directly to mutual funds.

Charges Details

CHARGES

DELIVERY

INTRADAY

Transaction Charges

0.00345% - NSE
0.00345% - BSE

0.00345% - NSE
0.00345% - BSE

DP Charges

 ₹ 13.5 per company

 ₹ 0

GST

18% on Brokerage + Transaction

18% on Brokerage + Transaction

STT

0.02%

0.1%

SEBI Charges

0.0001%

0.0001%

Groww Complaints & Stats

Company name:

NextBillion Technology Private Limited

Contact:

+91-9108800604

Email:

support@groww.in

Active Users:

1,25,94,877
Groww Customer Reviews

Overall Rating

4.3

Based on 147 reviews

View all 147 Reviews

Rating Summary

5
61%
4
21%
3
4%
2
4%
1
6%

Review Analytics

Platform 5 votes

Charges 9 votes

Transparency 0 votes

Features 11 votes

Customer Support 7 votes

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balasubramaniam s

(4)

Posted on 11 Apr 2024

Good app??

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jayeshbhai nagjibhai patel

(4)

Posted on 14 Nov 2022

brokerage is low

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tausif shaikh

(5)

Posted on 23 Oct 2022

So easy to operate

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sai eashwar

(5)

Posted on 15 Sep 2022

They have amazing UX and keep improving their products

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dhrigu bandopadhay

(5)

Posted on 12 Sep 2022

I am not a good writer, don't have much to say I am simply glad that I chose Groww over any other options available.

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abhimanyu

(5)

Posted on 13 Aug 2022

Very nice platform for trading

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samyel

(5)

Posted on 19 Jun 2022

Best UI interface with easy access investment options for wealth creation should be realistic and simple to use as

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riyaz

(4)

Posted on 02 Jun 2022

Nice app

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nitin gode

(5)

Posted on 08 May 2022

Best ??

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anmol

(5)

Posted on 02 May 2022

This one is perfect in every sense, be it FAST, MORE TECHNICAL, USER FRIENDLY and it doesn't change any fee for account opening and maintaining.....that's why I LIKE THIS ONE !!

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parihar himanshu singh

(5)

Posted on 26 Apr 2022

Best app

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ramnaresh gurjar

(5)

Posted on 24 Apr 2022

Good

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ajmal khan

(5)

Posted on 24 Apr 2022

Great

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rahul yadav rocky

(4)

Posted on 20 Apr 2022

Nice

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ayush pathak

(5)

Posted on 19 Apr 2022

User friendly with great UI & support team.

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mohan kumar

(5)

Posted on 16 Apr 2022

One of the simple easy to use demat

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swaraj das adhikari

(5)

Posted on 16 Apr 2022

Beginner friendly. Great for long term retail investors whose capital to invest is small so that they can save some amount by not paying for account opening and maintenance charges.

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prateik chauhan

(5)

Posted on 10 Apr 2022

Better than all

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sri ram pareek

(5)

Posted on 10 Apr 2022

good experience

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s??ee? ??i?e?

(5)

Posted on 10 Apr 2022

Its best UI

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swasti sundar pradhan

(1)

Posted on 08 Apr 2022

Very good ui and best for beginners

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kanhai lal

(5)

Posted on 29 Mar 2022

Good ??

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abhik adhikary

(2)

Posted on 29 Mar 2022

There are too many hidden charges in Intraday trading.

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gopal singh

(5)

Posted on 27 Mar 2022

Good app

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barjinder singh

(5)

Posted on 20 Mar 2022

Easy and interactive interface

Frequently Asked Questions

Groww is a popular, SEBI registered investment adviser. All personal information entered on the platform is stored using 256-bit encryption. Also, all transactions are done through Asset management companies (AMCs) for mutual funds & Bombay Stock Exchange (BSE) for stocks, which means that at no stage does your money reach the company itself.

The Demat account and trading account opening charges with Groww are free. The annual maintenance charge is also free. Additionally, there is no margin money requirement. 

Groww charges an Rs.20 per order or 0.05% whichever is low for Equity Delivery, Equity Intraday, Equity Futures, Equity Options. Commodity & Currency trading is presently not available with Groww.

Groww is a discount broker which is aimed at providing modern online-based financial solutions to its clients at a minimal cost.

Groww is a SEBI registered member under the name of NextBillion Technology Private Limited.
 

The Groww app is quite popular among investors and traders who wish to invest in mutual funds, SIPs and stocks. The app is popular on Google play store as well and has got a good rating, with many positive reviews from its customers. Additionally, Groww is a technologically advanced mobile application. They have adopted all the safety measures of digital investment, which makes them a safe investment platform for all the existing as well as new investors and traders.

Groww offers services to investors and in-turn charge additional fees like account opening charges, account maintenance charges, brokerage charges, transaction charges, clearing charges, etc. Apart from these, there are other associated charges like taxes (GST, STT), SEBI charges etc, which are often overlooked by investors. It is important to remember that some of these charges depend upon the transaction value.

Click the link  to know more about the Groww Brokerage Charges.

You can withdraw money from the Groww app, as well as the Groww website by following the below steps:

Step 1: Login to Groww and tap on ‘You’. After this, tap on your ‘Groww balance’

Step 2: Tap on ‘Withdraw’

Step 3: Enter the amount you want to withdraw and then click on ‘Withdraw’

After this, the withdrawn money will be credited to your account instantly. Please note that if the amount is more than Rs 25,000 then it will process along with the bank working hours.

Yes, it is possible to permanently delete an account on Groww, but only through the offline process. 

You can follow these steps to close your demat account:

  1. Download the ‘Account Remove/Close’ form (the form is available at the app & website both).

  2. Fill the required details like client id and other necessary details.

  3. Send the same to their head office.

  4. Your account will be closed in 10-12 business days.

In case any mutual fund brokers such as Groww shuts down, your account will still be active with the corresponding mutual fund house. This way, you can directly reach out the mutual fund house and enquire about the current status of your account and investments with them.

After following all the necessary steps to open a demat account on Groww, you will see a success screen that says ‘Signed successfully‘, followed by ‘ you can start investing now’. Click on ‘Let’s start’ to proceed. You will be directed to the home screen. Please note that it might take a few hours for the verification of your account opening form, which will be completed within 24 hours.

For starting out in the stock market and begin trading and investing, one of the first things that you will need is a ‘Demat account’. A Demat or a dematerialized account is an account for traders which is used to hold shares and securities in electronic format. It is similar to a bank account; the only difference being, a bank account holds cash and the Demat account holds shares and other securities.

Hence, for using any investment app like Groww, an investor must have a demat account.

Yes, Groww demat accounts are safe as all demat accounts are opened with Central Depository Services Limited(CDSL). Groww acts as only an intermediary between the customer and the central depository.

To withdraw money from your Groww account, proceed with the following steps:

  1. Log in to your Groww account, click on “You” and then click on “Groww Balance”.

  2. Tap on “Withdraw”.

  3. Enter the amount you wish to withdraw and click on the “Withdraw” button.

The withdrawal amount will be credited to the user’s account within 24 hours.

Yes, you can transfer your existing mutual fund investments to Groww. You can do this by importing your investments from your existing platform. To do this, follow these steps:

  1. Go to your Groww profile and click on "You".
  2. Click on "Track Existing Investments".
  3. Enter the email address that is linked to your mutual fund investments and click on "Request Report".
  4. You will receive an email from MFCentral with a link to your investment report. Click on the link and download the report.
  5. Go back to Groww and click on "I have mailed".
  6. Upload the investment report that you downloaded from MFCentral.

Once you have uploaded the report, Groww will import your investments within 10-15 minutes.

Please note that you cannot transfer a SIP from another platform to Groww. However, you can stop your SIP from the platform you have invested in and then start a SIP on Groww.

Yes, your money is safe with Groww. Groww is a registered SEBI broker and AMFI registered mutual fund distributor. This means that it is regulated by the Securities and Exchange Board of India (SEBI), the government body that regulates the Indian securities market. SEBI has a number of rules and regulations in place to protect investors, and Groww is required to comply with all of them.

Yes, Groww provides IPO and FPO services. You can use Groww to apply for IPOs and FPOs online. To do this, you need to have a demat account with Groww. If you don't have a demat account, you can open one for free on Groww.

To apply for an IPO or FPO on Groww, follow these steps:

  1. Go to the Groww app or website and log in to your account.
  2. Click on the "IPO" tab.
  3. Select the IPO or FPO you want to apply for.
  4. Enter the number of shares you want to apply for and the price you are willing to pay.
  5. Click on "Apply".

Groww will submit your application to the exchange on your behalf. If your application is successful, you will be allocated shares in the IPO or FPO.

Yes, you can set up a SIP (Systematic Investment Plan) on Groww. To do this, follow these steps:

  1. Go to the Groww website or app and log in to your account.
  2. Click on the "Mutual Funds" tab.
  3. Select the mutual fund you want to start a SIP in.
  4. Click on the "Invest Now" button.
  5. Select the "SIP" option.
  6. Enter the amount you want to invest each month and the start date for your SIP.
  7. Click on "Invest".

Groww will automatically debit the amount you have specified from your bank account each month and invest it in the mutual fund you have selected.

You can also set up a step-up SIP on Groww. This means that you can gradually increase the amount you invest each month. To do this, follow the steps above and then click on the "Add Step-Up" button. Enter the amount you want to increase your investment by each month and the start date for your step-up SIP.

Yes, there is a minimum investment amount on Groww. The minimum investment amount varies depending on the type of investment.

  • Mutual funds: The minimum investment amount for mutual funds on Groww is ?100 for both lump sum investments and SIPs.
  • Stocks: The minimum investment amount for stocks on Groww is ?100.
  • ETFs: The minimum investment amount for ETFs on Groww is ?100.

Please note that these are the minimum investment amounts required by Groww. Some mutual funds and ETFs may have a higher minimum investment amount.

To contact Groww's customer support team, please send an email on support@groww.in and they would resolve your issue at the earliest. You can also call at customer care number +91-9108800604. Groww's customer care support team is available 24*7.

  • Equity Delivery: Rs. 20 or 0.1% per order, whichever is lower. A minimum charge of Rs. 2 applies.
  • Equity Intraday: Rs. 20 or 0.1% per order, whichever is lower. A minimum charge of Rs. 2 applies.
  • F&O: Rs. 20 per order.

You can use Groww's Brokerage Calculator to get an accurate estimate of the charges for your specific trade. This calculator takes into account all the applicable charges, including brokerage, taxes, and other fees.

Currently, Groww does not offer any specific plans or discounts to reduce brokerage charges. However, you can minimise your charges by placing fewer orders and opting for delivery-based trades instead of intraday.

Groww offers a simple and transparent pricing structure for equity trading:

  • Rs. 20 per order or 0.1% of the traded value, whichever is lower.
  • A minimum charge of Rs. 2 per order applies.

For F&O trading, Groww charges a flat fee of Rs. 20 per order.

Apart from brokerage, there are other charges that may apply, such as:

  • Securities Transaction Tax (STT): A government-imposed tax on securities transactions.
  • Exchange Transaction Charges: Fees charged by stock exchanges like NSE and BSE.
  • SEBI Turnover Charges: A fee levied by the Securities and Exchange Board of India (SEBI).
  • Stamp Duty: A state government-imposed tax on various financial transactions, including stock trading.
  • GST: Goods and Services Tax on the total brokerage and other applicable taxes.

Groww offers a free demat account. There are no annual maintenance charges (AMC) for the demat account.

Groww is committed to transparency and there are no hidden charges. All charges are clearly outlined and can be calculated using Groww's brokerage calculator.

For a detailed breakdown of all charges and a precise calculation, you can use Groww's Brokerage Calculator.