Investing in the stock market may be a great approach to increasing your wealth and achieving your financial objectives.
However, investing can be intimidating, especially for beginners. This is where online brokerage platforms like Groww come in.
Groww is an online platform that allows you to invest in mutual funds, equities, and other financial goods. It is intended to make investing simple and accessible to all people, regardless of expertise or financial background.
In this article, we’re going to look into Groww in further detail, covering its brokerage fees, Demat account, trading platforms, and other features.
Whether you’re a seasoned investor or just starting, this article will help you decide if Groww is the correct platform for you.
Groww SWOT Analysis by Top10StockBroker
| Strengths | Weaknesses |
| User-friendly and easy-to-use platform | Limited product offerings compared to traditional brokers |
| Zero commission fees on mutual fund investments | Limited research and analysis tools |
| Low brokerage charges on stock trading | Limited international investment options |
| Simple and quick account opening process | |
| Offers a seamless and hassle-free investment experience |
| Opportunities | Threats |
| Rapidly growing Indian economy and increasing interest in investments | Intense competition from established traditional brokerage firms and other fintech companies |
| Expanding product offerings to attract more investors | Potential regulatory changes and compliance requirements |
| Targeting younger generations and first-time investors | Potential cybersecurity risks and data breaches |
| Leveraging technology to provide personalized and efficient investment solutions | Market volatility and economic uncertainty affecting investor sentiment |
About Groww
| Company Name | Groww |
| Year Founded | 2016 |
| Founders | Lalit Keshre, Harsh Jain, Neeraj Singh, Ishan Bansal |
| Headquarters | Bengaluru, India |
| Company Type | Private |
| Broker Type | Discount Broker |
Groww is an Indian online investing platform launched in 2016 by Lalit Keshre, Harsh Jain, Neeraj Singh, and Ishan Bansal.
The portal offers a wide range of financial goods, including mutual funds, equities, gold, and digital gold. Groww provides a user-friendly and simple interface that allows users to begin investing with as little as Rs. 100.
Groww is known for its low-cost and transparent pricing structure, which includes no commission costs on mutual fund investments and minimal brokerage fees on stock trading.
The platform provides fundamental research and analytical capabilities to assist users in making educated investing decisions.
Groww also offers a straightforward account opening process, with KYC verification performed online in just a few minutes. Groww has raised $142.4 million in investment and had over 15 million registered users as of 2021.
For its user experience and creativity, the platform has received several accolades and recognitions, including the ‘Best Investment Platform’ award at the 2020 ETMarkets Global Summit.
Groww has also created strategic alliances with top firms such as Flipkart and Google Pay to broaden its reach and provide investment services to its clients.
More on Groww
As of May 2023, Groww has been making headlines in the Indian investment industry for several reasons.
For starters, the platform’s user population has continued to increase, with over 20 million registered users as of April 2023.
The firm attributes its quick development to its user-friendly platform and inexpensive cost structure, which has made it popular among young and first-time investors.
Second, Groww has been expanding its product offerings to incorporate additional investment possibilities. In April 2023, the site announced a new feature that allows users to invest in cryptocurrencies through a partnership with a top cryptocurrency exchange.
The tool initially allows investments in Bitcoin, Ethereum, and Dogecoin, with plans to add more cryptocurrencies in the future. Thirdly, Groww has made headlines for its fundraising efforts.
In March 2023, the platform announced that it had secured $150 million in a Series E investment round headed by Tiger Global Management, with participation from previous investors such as Sequoia Capital India, Ribbit Capital, and YC Continuity.
The fundraising round valued the firm at $2 billion, making it one of India’s most valuable companies.
Finally, Groww has been actively engaging with regulatory authorities to ensure compliance with regulations and to protect user interests.
In March 2023, the platform signed the ‘Code of Conduct’ issued by the Association of Mutual Funds in India (AMFI), which establishes criteria for mutual fund distributors and intermediaries.
Groww has also been vocal about the need for stronger investor protection measures, such as improved transparency regarding charges.
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Groww Brokerage Charges
| Investment Option | Charges/Fees |
| Equity Delivery | Rs. 20 or 0.05% (whichever is lower) per executed order |
| Equity Intraday | Rs. 20 or 0.05% (whichever is lower) per executed order |
| Equity Futures | Rs. 20 per executed order |
| Equity Options | Rs. 20 per executed order |
| Currency Futures | NA |
| Currency Options | NA |
| Commodity Futures | NA |
| Commodity Options | NA |
| Mutual Funds | Free |
| Digital Gold | Rs. 9 per transaction |
Groww is a discount broker and offers a simplified brokerage structure to its users. The company charges a fixed fee of Rs. 20 per executed order irrespective of the order size or segment traded.
This means that the brokerage charged by Groww for an order worth Rs. 10,000 and an order worth Rs. 10 lahks would be the same, i.e., Rs. 20 per order.
Groww does not charge any minimum brokerage, which means that if the brokerage on the executed order is less than Rs. 20, then the brokerage charged will be equal to the brokerage amount.
For instance, if the brokerage on an order worth Rs. 5,000 is calculated to be Rs. 15, then the brokerage charged by Groww will be Rs. 15 only.
It is important to note that in addition to brokerage charges, other charges such as SEBI turnover charges, STT, stamp duty, GST, etc. are levied by the government and regulatory authorities. Groww provides a transparent breakup of all the charges incurred on its platform.
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Groww Other Charges
| Charge Type | Charges/Fees |
| SEBI Turnover Charges | 0.00005% of turnover |
| STT | Intraday: 0.025% of the sell-side turnover
Equity Futures: 0.01% of the sell-side turnover Equity Options on Premium: 0.05% of the sell-side premium Commodity Futures: 0.01% of the sell-side turnover Commodity Options: 0.05% of the sell-side premium Currency F&O: 0.001% of the sell-side turnover On Exercise transaction: 0.125% of the sell-side premium Right to entitlement: 0.05% of the sell-side value |
| Stamp Duty | Delivery: 0.015% of the buy-side value or Rs. 1500 per crore (whichever is lower)
Intraday: 0.003% of the buy-side value or Rs. 300 per crore (whichever is lower) Equity Futures: 0.002% of the buy-side value Equity Options: 0.003% of the buy-side value Currency F&O: 0.0001% of the buy-side value Commodity Futures: 0.002% of the buy-side value Commodity Options: 0.003% of the buy-side value |
| GST | 18% of the brokerage charges |
| Margin Funding Charges | Varies based on the provider |
| Reactivation Charges | Rs. 100 per account |
| Account Closure Charges | Free |
| Dematerialization Charges | Rs. 10 per certificate + Rs. 50 courier charges |
| Pledge Creation | 0.02% of the transaction value or Rs. 30 (whichever is higher) per request |
| Pledge Invocation | 0.02% of the transaction value or Rs. 30 (whichever is higher) per request |
| Margin Pledge/Unpledged/Pledge closure | Free |
| Margin Repledge | Free |
Few other charges
Call & Trade Charges: Groww does not charge any fees for placing orders through its Call & Trade facility. However, orders placed through this facility will attract an additional charge of Rs. 20 per order, in addition to the regular brokerage fees.
Corporate Action Order Charges: Groww does not levy any charges on corporate action orders such as dividends, bonuses, rights issues, etc.
Off-market Transfer Charges: Groww charges a fee of Rs. 25 per scrip for off-market transfers of shares. This charge is applicable only for transfers done from Groww to another Demat account or vice versa.
Physical CMR request: Groww charges Rs. 100 for every request placed for a physical copy of the Contract Note.
Payment Gateway Charges: Groww does not levy any payment gateway charges on its users.
Delayed Payment Charges: Groww charges a delayed payment fee of 1.5% per month on the outstanding amount, in case the user fails to make the payment within the stipulated time.
NRI brokerage Charges: Groww charges a flat fee of Rs. 200 per executed order for NRI users. In addition to this, NRI users are also charged a maintenance fee of Rs. 200 per month for maintaining their Demat account.
Groww Demat Account Opening Charges
| Service | Charges |
| Trading Account Opening | Free |
| Demat Account Opening | Free |
| Annual Maintenance Charges (AMC) | Free |
| Demat Account Annual Maintenance Charges (AMC) | Free |
Groww revises its Demat charges from time to time, and you are advised to check the latest fee schedule before making any transactions.
Overall, Groww’s Demat charges are reasonable and transparent, making it a popular choice among investors looking for a hassle-free and cost-effective way to invest in the stock market.
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Types of Groww Demat Account
Groww provides two types of Demat accounts: regular and basic services Demat accounts (BSDA).
Regular Demat Account: The Regular Demat Account is ideal for investors that trade often and have a big securities portfolio.
There is no limit to the number of securities that can be held in this account, nor are there any limits on the value of securities stored in the account. However, the account maintenance fees are slightly higher than those charged by the BSDA.
Basic Services Demat Account (BSDA): Basic Services Demat Account (BSDA), on the other hand, is suitable for investors who have a small portfolio of securities and do not trade frequently.
This account is designed to provide basic Demat account services at a lower cost. The account holder can hold securities worth up to Rs.2,00,000 in the account, and there are no annual maintenance charges if the value of securities held does not exceed Rs.50,000.
If the value of securities held in the BSDA account exceeds Rs.50,000 but does not exceed Rs.2,00,000, then the account maintenance charge is Rs.100 per year.
Groww also provides its members with a lifetime free Demat account with no account opening or yearly maintenance fees.
The lifetime free account, however, is subject to certain requirements, such as a minimum account balance, a certain number of transactions each quarter, and the maintenance of a particular portfolio value.
The Groww website allows you to check eligibility for the lifetime free Demat account.
Groww Offers
| Feature | Availability |
| Free Demat Account | Yes |
| Free Trading Account | Yes |
| Discount on Brokerage | Yes |
| Trading Happy Hours | No |
| Flexible Brokerage Plans | Yes |
| 1 Month Brokerage Free | No |
| Holiday Offers | No |
| Referral Offers | Yes |
| Zero Brokerage for Loss-Making | No |
The above table summarises the features provided by Groww, an online investment platform. Groww offers its users a free Demat account and a free trading account, making it easier for users to invest in stocks, mutual funds, and other financial instruments.
The platform offers flexible brokerage plans that users can choose based on their trading frequency and volume.
Groww also provides referral offers to its users, but it does not offer holiday or 1-month brokerage-free offers. Finally, the platform does not provide zero brokerage for loss-making trades.
Another beneficial feature of Grow is its referral program. The Groww referral program is a promotional offer provided by the platform to its users.
Under this program, you can invite your friends to join Groww and get rewarded for each successful referral.
To avail of this offer, you need to share your referral code with your friends, who then need to sign up for a Groww account and complete their KYC process.
Once the referred friend completes the first mutual fund investment of at least Rs.100, you who referred them will receive a reward in the form of a scratch card.
The scratch card contains a random amount ranging from Rs.10 to Rs.1000 that is added to your Groww account.
You can refer as many friends as you want and earn scratch cards for each successful referral. The referral offer is an incentive for users to invite friends to join Groww and start investing.
How to open Demat Account with Groww?
Opening a Demat account with Groww is a quick and simple process. Here are the steps to follow:
- Download the Groww app or visit the Groww website.
- Click on the “Sign Up” or “Get Started” button to initiate the registration process.
- Enter your mobile number and click on “Continue”. You will receive an OTP on your mobile number.
- Enter the OTP to verify your mobile number.
- Enter your PAN card details and personal information such as your name, email address, and date of birth.
- Upload your signature, a photograph, and a scanned copy of your PAN card.
- Complete the in-person verification (IPV) process through video verification.
- Once your KYC is verified, you can proceed to open a Demat account by providing additional information such as your bank details, income details, and investment preferences.
- Accept the terms and conditions and submit your application.
- Once your application is processed and approved, your Demat account will be activated and you can start investing in stocks and mutual funds.
Opening a Demat account with Groww is completely online, making it a convenient and hassle-free process.Top of Form
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Why open Groww Trading Account?
Opening a Demat account with Groww offers several benefits to investors, including:
- User-friendly platform: Groww provides an easy-to-use platform that allows investors to trade in stocks and mutual funds seamlessly. The app is user-friendly and intuitive, making it easy for even novice investors to use.
- Low brokerage charges: Groww offers one of the lowest brokerage charges in the market, making it an attractive option for investors who want to keep their costs low.
- Wide range of investment options: With a Groww Demat account, investors can trade in stocks, mutual funds, IPOs, and more. This provides a range of investment options to choose from, allowing investors to diversify their portfolios.
- Free mutual fund investment: Groww allows investors to invest in mutual funds for free, without any charges or fees. This makes it an ideal option for investors who want to start investing in mutual funds but don’t want to pay high fees.
- Quick and easy account opening process: Groww’s account opening process is quick and hassle free, with no paperwork or physical visits required. The entire process can be completed online, from the comfort of your own home.
Overall, opening a Demat account with Groww is a smart choice for investors who want to invest in stocks and mutual funds, while keeping their costs low and their investment options wide.
Groww Products And Services
| Products | Availability |
| Equity Trading | Yes |
| Commodity Trading | Yes |
| Currency Trading | Yes |
| Options | Yes |
| Futures | Yes |
| Mutual Funds | Yes |
| Forex | No |
| Banking | No |
| SIP | Yes |
| Insurance | No |
- Equity Trading: Groww offers equity trading services, allowing investors to buy and sell stocks of publicly listed companies on Indian stock exchanges.
- Commodity Trading: Groww offers commodity trading services, enabling investors to buy and sell commodities like gold, silver, crude oil, and more on Indian commodity exchanges.
- Currency Trading: Groww offers currency trading services, allowing investors to buy and sell foreign currencies on Indian currency exchanges.
- Options: Groww offers options trading services, enabling investors to buy and sell options contracts on stocks, commodities, and currencies.
- Futures: Groww offers futures trading services, allowing investors to buy and sell futures contracts on stocks, commodities, and currencies.
- Mutual Funds: Groww offers mutual fund investment services, enabling investors to invest in a range of mutual funds offered by various asset management companies.
- SIP: Groww offers systematic investment plan (SIP) services, allowing investors to invest in mutual funds through regular, small amounts at fixed intervals.
Groww Services
| Services | Availability |
| Demat Services | Yes |
| Trading Services | Yes |
| 3 in 1 Account | No |
| Intraday Services | Yes |
| IPO Services | Yes |
| Stock Recommendations | Yes |
| Robo Advisory | Yes |
| PMS | Yes |
| Trading Institution | No |
| Trading Exposure | Yes |
The above table provides information on the various services offered by Groww brokerage house.
- Demat Services: Groww offers Demat Services, which allows investors to hold their securities in an electronic form.
- Trading Services: Groww provides Trading Services, which enable investors to buy and sell securities in various markets.
- 3 in 1 Account: Groww does not provide a 3 in 1 account, which includes a savings bank account, a trading account, and a Demat account.
- Intraday Services: Groww provides Intraday Services, which allow investors to buy and sell securities within the same trading day.
- IPO Services: Groww provides IPO Services, which allow investors to invest in initial public offerings (IPOs) of companies.
- Stock Recommendations: Groww provides Stock Recommendations, which provide advice to investors on which stocks to invest in.
- Robo Advisory: Groww provides Robo Advisory Services, which use algorithms and artificial intelligence to provide personalized investment advice to investors.
- PMS: Groww does not provide Portfolio Management Services (PMS), which involve professional management of an investor’s portfolio of securities.
- Trading Institution: Groww does not provide Trading Institution Services, which involve providing access to various financial markets.
- Trading Exposure: Groww provides Trading Exposure, which allows investors to buy and sell securities worth more than the funds in their account by taking leverage.
Groww Research & Advisory
| Research & Advisory Services | Availability |
| Fundamental Reports | Yes |
| Research Reports | Yes |
| Company Reports | Yes |
| Annual Reports | Yes |
| Company Stock Review | Yes |
| Free Stock Tips | Yes |
| IPO Reports | Yes |
| Top Picks | Yes |
| Daily Market Review | Yes |
| Monthly Reports | Yes |
| Weekly Reports | Yes |
| Offline Advisory | No |
| Relationship Manager | No |
Groww provides research reports, company reports, annual reports, IPO reports, and market reviews to its users. Groww also offers free stock tips and top picks to its users.
Additionally, Groww has a robo-advisory feature that uses algorithms to recommend investment options to users based on their investment goals and risk tolerance.
Groww Exposure / Leverage / Margin / Limit
Exposure, leverage, margin, and limit are all terms used in trading to refer to the amount of money that a trader can borrow from their broker to enter into a trade.
Groww provides exposure, leverage, margin, and limit to their clients to enhance their trading experience. A detailed table is provided below.
| Trading Segment | Exposure/Leverage/Margin/Limit |
| Equity Delivery | No margin or leverage |
| Equity Intraday | Up to 15x leverage (with VAR+ELM) |
| Equity Futures | Up to 3x leverage (with VAR+ELM) |
| Equity Options | Up to 3x leverage (with VAR+ELM) |
| Currency Futures | Up to 2x leverage (with VAR+ELM) |
| Currency Options | Up to 2x leverage (with VAR+ELM) |
| Commodity Futures | Up to 2x leverage (with VAR+ELM) |
You must keep in mind that the margin, exposure, and leverage limits are subject to change as per the exchange rules and regulations.
Groww Trading Platforms
Now, Groww offers two types of trading platforms:
Groww App: The Groww app is a mobile-based trading platform available for Android and iOS devices.
It provides a simple and user-friendly interface, making it easy for investors to buy and sell stocks, mutual funds, and other investment products. The app also offers features like goal-based investing, investment tracking, and portfolio analysis.
Groww Web: Groww also offers a web-based trading platform accessible through any web browser.
This platform offers advanced charting tools, real-time market data, and customizable watchlists, among other features. It is designed for investors who prefer to trade on a desktop or laptop computer rather than a mobile device.
Features of the Groww trading platform
Thus, Groww offers a comprehensive trading platform for its customers that comes with a range of features, including:
- User-friendly interface: The trading platform has a user-friendly interface that makes it easy for beginners to use and navigate.
- Real-time market data: It provides real-time market data for various segments, including stocks, mutual funds, and currencies.
- Advanced charting tools: It offers advanced charting tools that allow traders to perform technical analysis and make informed decisions.
- Auto-investing: Groww offers a feature called ‘Auto Invest’ that allows users to set up automatic investments in mutual funds. Users can set their investment amount, frequency, and investment goals, and the platform will automatically invest on their behalf.
- Customized watchlists: Users can create customized watchlists to track their favorite stocks or mutual funds.
- Live news updates: The platform provides live news updates on various companies and sectors to help traders stay informed.
- Multiple order types: The platform supports multiple order types, including limit orders, market orders, and stop-loss orders.
- Mobile trading: The trading platform is available on both desktop and mobile devices, allowing traders to access the platform from anywhere.
- 24×7 customer support: Groww provides 24×7 customer support to its users to ensure they have a seamless trading experience.
- Security measures: Groww has implemented several security measures to protect user data and investments. This includes two-factor authentication, SSL encryption, and secure data storage. The platform is also registered with the Securities and Exchange Board of India (SEBI), which provides additional regulatory oversight and protection for users.
Groww Customer Care
Groww offers customer care support to its clients through various channels. Customer care support is available on all working days from Monday to Friday between 9:00 AM to 6:00 PM.
The following are the different ways to contact Groww customer care:
| Customer Care Options | Availability (Yes/No) |
| Dedicated Dealer | No |
| Offline Trading | No |
| Online Trading | Yes |
| 24*7 Support | Yes |
| Email Support | Yes |
| Chat Support | Yes |
| Toll-Free Number | Yes |
| Branches | No |
Groww Complaints
| Exchange | Financial Year | Total Complaints | Active Clients |
| BSE | 2023-23 | 11 | 882,423 |
| NSE | 2023-23 | 127 | 4,885,140 |
| BSE | 2023-22 | 44 | 894,812 |
| NSE | 2023-22 | 144 | 3,847,955 |
| BSE | 2023-21 | 2 | 2,650 |
| NSE | 2023-21 | 32 | 780,570 |
| BSE | 2019-20 | 1 | 2,650 |
In the past, some common Groww complaints have included difficulty with account opening, delays in cash transfer, technical faults in the app, and bad customer support.
It is crucial to note that these complaints may not accurately reflect the actual state of the firm and its services, since Groww may have taken corrective action.
Groww Disadvantages
Here are a few disadvantages of Groww brokerage house
- Limited international market exposure: Groww’s investment offerings are focused primarily on the Indian market, and may not offer as much exposure to international markets as some other brokers or investment platforms.
- No direct equity trading for NRIs: Non-Resident Indians (NRIs) cannot trade in equities directly through Groww. They have to route their investments through an NRI trading account, which can be inconvenient.
Groww Conclusion
In conclusion, Groww is a user-friendly and affordable platform for those who want to invest in various financial instruments.
With a wide range of products, research and advisory services, trading platforms, and customer support, Groww offers a seamless investment experience to its clients.
However, its high exposure margin, lack of international market exposure, and limited offline presence could be improved.
Overall, Groww is a great option for beginners and experienced investors alike, who want to invest in the Indian financial market.
FAQs
Here are a few frequently asked questions asked about Groww brokerage house.
What is Groww?
Groww is an online investment platform that provides a range of investment products and services, including mutual funds, stocks, gold, and digital gold.
Is Groww a safe platform?
Yes, Groww is a safe and secure platform for investment. It is registered with the Securities and Exchange Board of India (SEBI), and all transactions are encrypted and protected by SSL.
What types of investment products are available on Groww?
Groww offers a range of investment products, including mutual funds, stocks, gold, and digital gold.
Is there any charge to use Groww services?
Groww is a zero-commission platform and does not charge any transaction fees. However, some mutual funds have expense ratios, and there may be taxes or other fees that apply to your investments.
Does Groww provide trading services?
Yes, Groww provides trading services for stocks, futures, options, currencies, and commodities.
What is the minimum investment amount on Groww?
The minimum investment amount on Groww varies by investment product. For mutual funds, the minimum investment amount is Rs. 100, while for stocks, it is the price of one share.
Does Groww provide research and advisory services?
Yes, Groww provides research and advisory services, including fundamental reports, research reports, company reports, and stock recommendations.
What is Groww Exposure / Leverage / Margin / Limit?
Groww Exposure / Leverage / Margin / Limit is the amount of money you can borrow to make a trade. The exposure/leverage is higher for intraday trading compared to delivery-based trading, and it varies based on the investment product.
Does Groww have a mobile app?
Yes, Groww has a mobile app for both Android and iOS devices, which allows users to invest, track their portfolio, and access research and advisory services on the go.
Does Groww have customer support?
Yes, Groww provides customer support through email, chat, and toll-free numbers, and has dedicated dealers and branches across India.
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