Introduction to Groww App Review
Groww is nowadays a very popular investment platform. It has increased its clientele at a very fast pace over the past few years. Here, in this post, we will discuss the Groww App review and find out why it is the most talked about trading app in the market. We will find all the important reasons for choosing the app in this Groww App review. Groww provides a fast, easy-to-use app platform for trading mutual funds and stocks through a 128-bit secured trading app. Also, it has a web-based platform with similar advantages. Hence it is growing very fast and today, it is the most popular trading platform in India. Beginners and the genZ population even talk about the Groww app. This is a good trading platform that is easy, transparent, fast and works seamlessly.
Groww came to highlight by providing a good platform for trading mutual funds. Later, Groww became a full-fledged discount broker. Today, as of July 2024, Groww has the highest number of active traders.
Overview of the Groww App
Groww is the second most popular app in today’s India. Four brilliant quartets of Flipkart.com started Groww in 2016 primarily as a mutual fund platform. Groww is owned by NextBullion Technology Pvt. Ltd. Ishan Bansal, Harsh Jain, Neeraj Sing and Lalit Keshre, all from Flipkart.com started Groww. This Groww App review will also help us delve deep into the success story of Groww.
Earlier, Groww was famous for being a direct investment platform for mutual funds. Later, after a lot of market research, it started as a 100% discount broker. As a consequence, in 2024, it acquired the highest number of active traders beating all others in this field. Lots of background work and modifications have made it possible within a very short period. Today, the Groww platform is an evolving, dynamic tech-driven DIY platform backed by constant support from AI.
The web platform, as well as the App, is highly transparent, and 100% digital. No manual intervention is necessary right from the word go. The complete digital process made the platform very simple and transparent. The lack of manual intervention has made the Groww app very user-friendly and popular with the young generation who mostly remain on mobile most of the time. Before the Groww app came to life, there was no other trading platform that could add new subscribers without manual intervention. Therefore, the new generation was attracted to it. Also, it made it possible for the most number of active traders to get on board.
Downloading the Groww App
Groww does not offer offline opening accounts. To subscribe, you need to go to the website www.Groww.in for the web portal. For the mobile app, one needs to go to the Google Play Store and click on the Groww app for downloading. The Groww platform provides all its facilities after downloading the app. After subscribing, the person can start using the platform. The downloading process is also straightforward.
To download the Groww app on your mobile visit the Google Play Store and search for Groww. An app will come to the screen. Click on the install button.
For persons having iPhones, the downloading process is somewhat similar. You can get the app from the IOS App Store. A similar process follows as directed by the app or website.
Signing Up and Logging In
The Groww app will be installed on your Android phone. Then you need to open the app. There is a Login/Register option and a Get Started option. If you have an account you can log in directly. Clicking on the Get Started option will ask for your email.
Once you open the Groww website, you will be asked to sign in with your login ID if you are an existing user. However, for first-time users, the login process is different. Whenever a subscriber opens the Groww app or web trading platform, he/ she is asked to log in with a PIN that he has created earlier.
Enter the PIN and the trading window opens.
First-Time Login and Setup Tips
Once you enter the required details an OTP (one-time password) will be sent to your email and Android phone. Put the OTP on your screen when asked within 15 minutes after it was sent. Otherwise, the OTP will expire automatically and you need to subscribe again. Having a Google email ID makes the login process simpler and faster. Otherwise, you need to mention your email ID and register yourself through the app.
If you are not a subscriber of Groww, you can open up your demat account by following the on-screen processes and completing the e-sign. This process is really fast in Groww. You need to give your PAN and mobile number. Groww will send OTP to your mobile. Give the OTP for opening a Demat account with Aadhar. After registering, you put your details regarding bank and other details for e-sign. Once these are complete, you become a subscriber and can trade at will.
There is no binding when to start trading. One can easily start trading even if the person is completely new. Our Groww app review finds this reason a primary factor for becoming this app so popular within a short period.
Review of Groww App User Interface and Customer Experience
The user interface is fast and frill-free. The interface is also very light and does not consume high data even during the live market. Therefore, there is almost no buffering and technical glitch unless that comes from the NSE website. The app is completely secured and uses 128-bit data encryption for complete data security. At present, this is the highest encryption available for data security.
The dashboard itself shows important information like most bought stocks. It also has a link to F&O, Events, Intraday, IPO and Screener. You can also check Top Gainers, Top Losers etc.
The hassle-free registration, secured site and data security and complete data transparency made Groww to have most active number of traders in India. Recent data shows, that since its inception 10 years ago, customers have had minimum complaints (maximum .01%) in NSE. However, the number of complaints rose in BSE in the last couple of years. The number of complainants’ percentage rose to 0.08% and 0.04% respectively. The data speaks all about why so many active traders are present in Groww. The number of complainants is far less compared to any active broker today in the Indian market.
Groww provides customer support online, through email or chat. The absence of physical branches or dedicated RM and a dedicated phone helpline was more than made up by the prompt online action from Groww once the complaint reached the office. In addition, AI-driven chat support solves all primary-level problems.
The transparent platform makes the customers very comfortable while investing through the app.
Investment Option On Groww
Groww has a unique platform. Primarily a direct investment platform of mutual funds, it now presents its customers with an array of investment options. They are as follows.
Groww gives us many opportunities for investment through the App. First comes investment in Mutual Funds. One can invest directly in mutual funds without any cost. Also, the investor can use the Groww platform while investing in mutual funds. Investors can start or close SIPs using the Groww app. You can toggle between Stocks or Mutual Funds.
The Groww App also makes the process of Online IPO applications very easy. Select the IPO and lot size before investing. Groww will automatically deduct the amount from your bank when the IPO lot is allotted for you.
Groww gives you a great trading platform at your fingertips using the app in the Equity Cash and FnO segment. You can trade in ETFs (Exchange Traded Funds) using the Groww app. In addition, you can also directly invest in US stocks through the Groww App.
You can also check your investments very easily from the Groww dashboard. Just click on the Investments section.
Review of Groww Charges and Fees
The Groww app charges are very low. It asks for the most competitive charges from customers. The app follows the flat brokerage charge rule. There is no difference between the charge for the Groww website and the mobile app. The flat brokerage model from Groww charges flat Rs.20 or 0.05% of the trade value (whichever is lower). The flat brokerage model is simple and is beneficial to both large and retail traders. The brokerage structure is also very simplified in this model.
In addition, there are other advantages for Groww customers. Groww does not charge any fees or AMC charges for opening a demat account. Mutual fund investment is completely free of change. There’s no hidden cost levied from customers. Also, there are no account opening charges.
Breakup of Groww Charges
Here are the details of all the charges.
| Service | Charges |
|---|---|
| Account Opening | Rs. 0 (Free) |
| Annual Maintenance Charges | Rs. 25 per month or Rs. 300 per year |
| Equity Delivery | Rs. 20 or 0.05% per executed order (whichever is lower) |
| Equity Intraday | Rs. 20 or 0.05% per executed order (whichever is lower) |
| Equity Futures | Rs. 20 or 0.05% per executed order (whichever is lower) |
| Equity Options | Rs. 20 per executed order |
| Currency Futures | Rs. 20 or 0.05% per executed order (whichever is lower) |
| Currency Options | Rs. 20 per executed order |
| Commodity Futures | Rs. 20 or 0.05% per executed order (whichever is lower) |
| Commodity Options | Rs. 20 per executed order |
| Mutual Funds Investment | Rs. 0 (Free) |
| Call & Trade Charges | Rs. 20 per order |
| DP Charges | Rs. 13.5 + GST per scrip (sell transactions only) |
| Pledge Creation | Rs. 20 + GST per request |
| Pledge Invocation | Rs. 20 + GST per request |
| Dematerialization Charges | Rs. 150 + Rs. 100 per certificate + Courier charges |
| Rematerialization Charges | Rs. 150 per certificate or Rs. 10 per 100 securities + Rs. 30 for courier |
| Cheque Bounce Charges | Rs. 350 |
Safety and Security
Unlike some other broker platforms, the Groww app and the web platform operate completely online. This online platform operates on 128-bit encryption and therefore, is completely secure. Customers need not be apprehensive about online transactions. The global economy is based on secure online transactions. Every moment, millions of dollar transactions take place around the world on secured networks.
The Groww transactions are similarly secured and transparent. A customer can deposit money or withdraw anytime as and when required. Only the customer should be aware of the fact that online transactions should be done from secured places so that no outsider can steal your banking ID and password. It is the responsibility of customers to keep their banking ID, banking transaction ID, Groww ID and password safe. Groww operates in a completely secure environment. For further queries regarding this, kindly contact Groww customer support.
Pros and Cons of the Groww App
This Groww App Review has taken into account all the merits of the Groww trading platform. Now the Groww App Review will present them in a concise form through the subheading, PROS and CONS.
Pros
Let us discuss the advantages of using the Groww App. A customer can trade in mutual funds, NFO, equities, F&O, IPO and US stocks directly. You can get to trade directly on US stocks from Groww App. There is zero account opening fee and also no AMC charges. Flat Rs. 20 brokerage rate. There is no investment cost for directly investing in mutual funds. Groww does not levy any hidden charges on customers.
The entire operations of Groww are fully transparent. Customers can use TradingView charts without any cost. Also, there are many technical charts available on the Groww platform. Moreover, Groww lets customers various types of orders like GTT, basket orders, and target order types. MTF as per SEBI is also available. Instant and flexible are provided by Grow. Groww provides instant messages and market updates live on the app.
Cons
Groww has some disadvantages as well. Customers can not trade in commodities and currency. Bracket and Cover orders (BO) are not available. NRIs are not allowed to open an account through Groww. Groww does not provide advisory or stock research reports.
Review of the Customer Support of Groww
There are YouTube videos and Groww Digest in multiple regional languages for the customers to help them online. Customers can learn a lot from these videos and write-ups. The customers can learn in local language. This facility is provided by Groww.
The customer support is very prompt and precise. Though most of the problems are solved through AI help instantly. A customer can raise a ticket for help & support. It is attended promptly except during Sundays and holidays. The help and support page of Groww can be reached by clicking on this link.
FAQ
Groww is definitely a trustworthy app. It is a company registered in the exchanges and is covered by the rules of SEBI. You can invest through the Groww platform without any worries. It is definitely not a scam.
The major disadvantage of the Groww platform is that it does not offer commodities or currencies. It started its journey as a mutual fund platform and later extended its services to equities. But still, a lot of development is needed to make the app suitable for a major portion of intraday traders.
You can definitely start with as low as Rs 100. There is no limit on how much you need can invest through the Groww app. For investing Rs 100 you need to find a stock with a low price and can invest into it. Suppose you can find XYZ companies share trading at Rs 50 and you can buy 2 quantities. Hence your investment is Rs 100.
There is no charge for opening an account in Groww. However, in this review of the Groww app, we have already mentioned that if you purchase or sell any company’s share it will attract the required brokerage charges and Government fees. But any investment in mutual funds is completely free.
Conclusion
In conclusion, barring a few demerits, the Groww app is the most advanced, transparent and secure trading platform today. We have reached this conclusion through this Groww App review. We discussed everything including the source of the app, the founders, and a complete overview of the app. In addition, we have also given a complete overview of the app, the reason for its popularity, and how to download and use it for first-timers. The review also includes the fees and brokerage charges and of course, its pros and cons. We must add that this app is not for traders who want to invest in currency and commodities. However, in the end, we find the Groww app is a good app for trading and investing in today’s market.
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