Groww, a well-known Indian investment platform, streamlines the investment process in stocks, mutual funds, gold, ETFs, and FDs. Renowned for its user-friendly interface, no brokerage charges on mutual funds, and emphasis on education and research, Groww has become a popular choice for diverse investors.

We will look at the features, charges and other factors of Groww which makes it a technologically advanced and smart platform. In this Groww review, you can also compare it with other popular platforms. So let’s get started with this Groww review with the overview of the platform.

Groww Review

overview of Groww Review

Groww was initially launched in 2016 as a direct mutual fund investment platform. In 2020, it expanded its offerings to include equity trading, US stocks, digital gold, equity-linked savings, fixed deposits, and other investment options. With over 1.5 crore registered members, Groww has positioned itself as one of the largest distributors of mutual funds in India, processing more than 2.5 lakh SIPs per month. 

Features of Groww Review

  • User-centric approach with an easy investment experience
  • Available on mobile apps and browser-based trading portal
  • Investing in direct mutual funds through Groww does not involve any commission or brokerage charges.
  • Fixed discount brokerage fee of ₹20 per order for trading in stocks and equity F&O
  • No charges for opening an account or maintaining a demat account with Groww.
  • 100% digital account opening process
  • Option to invest in gold, US stocks, IPOs, SGB, and ETF
  • Easy access to back-office and portfolio management
  • Valuable intraday tips for making sound business decisions
  • Margin up to 5x for intraday trading
  • Enhanced security with 128-bit SSL encryption
  • Single-click buying and selling
  • Easy SIP investment with over 2.5 lakh SIPs submitted per month

Groww brokerage charges

Type of chargesDescriptionCharges applied
Equity deliveryThe broker levies a charge on purchase orders when equity is deposited into a Demat accountFree on Groww
Equity intradayCharged by the broker if you buy/sell on the same dayRs.20/executed order or 0.05% of order value (whichever is lower)
AMC (Account maintenance charges)For managing your trading and Demat accountFree on Groww
DP charges – Buy orderCharged by DP for depositing stocks to Demat accountFree on Groww
DP charges – Sell orderCharged by DP for withdrawing stocks from Demat accountRs.8 + Rs.5.50 (CDSL charges) per ISIN (company/ETF) per day on Groww regardless of quantity sold
Transaction ChargesCharged by exchange for trading– 0.00325% of order amount on NSE– 0.003% of order amount on BSE(applicable on both buy and sell)
Clearing ChargesCharged by NSSCL clearing member and ICCL Free on Groww
Payment gateway chargesCharges for depositing money in Groww BalanceFree on Groww
Stamp DutyCharged by state government as stamp duty for contract noteMaximum of 0.018% (but different for each state)
SEBI turnover chargesCharged by SEBI for regulating the markets0.00%
Securities Transaction Tax (STT)Charged by the government when you do transactions on exchanges– 0.1% of the order amount in case of equity delivery– 0.025% of the order amount in case of equity intraday
GSTGoods and services tax18% applied on charges wherever applicable

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Groww demat account charges

Trading Account Opening Charges:Free
Trading Account AMC:Free
Demat Account Opening Charges:Free
Demat Account AMC:Free

How to open an account with Groww?

  1. Download the Groww app on your phone or PC from the Play Store or App Store
  2. To register type your email and mobile number
  3. Then enter the OTP received on your number and verify it
  4. Now enter your other details such as your PAN card, and bank details, and verify them.
  5. You will find a ‘Stocks’ tab, click on it and then click on ‘Complete setup’ and then click ‘ Open stocks account’.
  6. The offers free account opening and does not charge you various charges such as Groww app charges and Groww AMC charges
  7. Next, you will have to complete the KYC registration process. For this enter your occupation, income details, parent’s name, etc, and then click on ‘Next’.
  8. Choose your trading experience from the dropdown menu and then proceed by tapping on ‘Next’.
  9. Upload your signature 
  10. Complete your Aadhar based e sign process
  11. Read the account opening instructions and click on ‘Sign now’
  12. Then you will be redirected to the NSDL e-sign portal. Type your 12-digit Aadhar number and click on ‘Send OTP’. Now enter your OTP and complete the ensign process.
  13. Your account will be activated 24 hours after the verification. After this, you will get the client master report with the BO ID or Demat account number on your email ID.

People Also Read: Best Demat Account in India

Groww Trading platforms

Groww Android and iOS mobile app

Groww launched this app in 2016 which has a smart user interface. This makes the app very simple and easy to use for beginners. Groww app offers a paperless account opening process which makes account opening a seamless experience. Other features of the app include multiple customized watchlists, one tap order placement, 10+ technical charts with a time frame of 1 min to 1 month, and 10 years of price history and real-time market data.

Groww web trading platform

Groww also has a free browser-accessible online web trading platform for traders and investors. You can log in to your Groww account on the website and start investing in all segments including equity, derivatives, mutual funds, digital gold, US stocks, and IPOs. On Groww Digest beginners can access Groww Academy to learn about the stock market and read the latest financial market news.

Groww Review pros and cons

Pros of Groww

  • Zero commission on investment in mutual funds.
  • Quick and easy account opening process.
  • Trading in US equities, US ETFs, US FDs and digital gold available.
  • Simple and smart user interface.

Cons of Groww

  • You cannot trade in commodities and currencies.
  • No analysis, trading advice, or recommendations offered.
  • You cannot access advanced orders such as GTT, bracket, cover orders, and AMO orders.
  • No research report on stocks is available.
  • No margin facility available.

PaperTradingApp reviews for Groww

  • Free equity delivery trading and minimal brokerage charges.
  • Free account annual maintenance.
  • GST is additionally charged on exchange transaction charges and auto square-off charges.
  • Auto square-off charges are comparatively higher.

Customer service review

  • The platform provides both email and chat support.
  • They also offer a raising facility.
  • Calling for assistance is only provided upon request.

Ease of use review

  • Similar trading platforms (App and web) to avoid any confusion.
  • User-friendly interface.
  • Groww offers direct mutual fund investment plans however in some schemes they offer regular plans also.

Groww comparison with other brokers

In this chart, you can compare Groww vs Zerodha and other popular brokers. It will give you an idea about various features including charges and trading offerings of these brokers.

BrokerGroww5paisaZerodhaUpstoxPaytm Money
Service TypeDiscount BrokerDiscount BrokerDiscount BrokerDiscount BrokerDiscount Broker
Brokerage RangeRs 20Rs 20Rs 20Rs 20Rs 20
Account Type2 in 12 in 13 in 13 in 12 in 1
Equity Delivery0.05% or Rs 20 whichever is lowerFlat Fee Rs 20Free2.5% or Rs 20 whichever is lower 2.5% or Rs 20 whichever is lower
Equity Intraday0.05% or Rs 20 whichever is lowerFlat Fee Rs 200.03% or Rs 20 whichever is lower0.05% or Rs 20 whichever is lower 0.05% or Rs 20 whichever is lower
Equity FuturesFlat Fee Rs 20Flat Fee Rs 200.03% or Rs 20 whichever is lower0.05% or Rs 20 whichever is lower 0.02% or Rs 20 whichever is lower
Equity OptionsFlat Fee Rs 20Flat Fee Rs 20Flat Fee Rs 20Flat Fee Rs 20Flat Fee Rs 20
CommodityNot AvailableFlat Fee Rs 20Flat Fee Rs 20Flat Fee Rs 20NA
Currency FuturesNot AvailableFlat Fee Rs 200.03% or Rs 20 whichever is lower0.05% or Rs 20 whichever is lower NA
Currency OptionsNot AvailableFlat Fee Rs 20Flat Fee Rs 20Flat Fee Rs 20NA

People also read:- Zerodha Vs. mStock

Groww Review & Rating by PaperTradingApp 

Customer Rating
Trading Platform9.3/10
Product & Services9.1/10
Brokerage Charges9.2/10
Overall Rating8.5/10
Star Rating★★★★★
Customer Reviews1167

Groww reviewConclusion

In this Groww review, we have seen various aspects of the platform. Based on it, we can conclude that Groww is one of the emerging new-age trading platforms that offers technologically advanced features for investors along with a user-friendly and smart interface. However, the platform can be inconvenient for those who want to avail margin trading facility because Groww does not provide it. Apart from that all the features and offerings of Groww are best for new investors as their account opening process is very quick and easy and their trading platforms such as app and web are very easy to use.

Faqs on Groww Review

Check out several frequently asked questions (FAQs) regarding Groww Review here.

1. Does Groww offer a margin trading facility?

Ans:- As of now, Groww does not offer a margin trading facility.

2. What are the Groww account opening charges?

Ans:- Groww offers free account opening process as well as free account maintenance.

3. How do I access the Groww brokerage calculator?

Ans:- You can visit this website to access the Groww brokerage calculator online.

4. Can I trade in commodities and currencies on Groww platforms?

Ans:- No, as of now Groww does not offer trading in segments like commodities and currencies.

5. Do I need to maintain a minimum balance in Groww?

Ans:- No, Groww typically does not require users to maintain a minimum balance in their accounts. Groww operates as a platform for investing in mutual funds and stocks, and there is generally no obligation for users to maintain a specific minimum balance.

6. Is Groww a discount broker?

Ans:- No, Groww is not a discount broker. Groww primarily functions as an online investment platform, offering a user-friendly interface for investing in mutual funds, stocks, and other financial instruments. It provides a straightforward and commission-free approach for users to start their investment journey.

7. How to add funds in Groww app using UPI?

Ans:- To add funds to your Groww account using UPI:

  • Open the Groww app and log in.
  • Navigate to the ‘Funds’ or ‘Add Money’ section.
  • Choose the UPI option as your preferred payment method.
  • Enter the amount you want to add.
  • Follow the on-screen instructions to complete the UPI payment process.

8. Is Groww SEBI Registered?

Ans:- Yes, Groww is registered with SEBI (Securities and Exchange Board of India), the regulatory authority for the securities market in India. SEBI registration ensures that Groww operates within the regulatory framework and complies with the necessary guidelines to provide investment services.

9. Is Groww a CDSL or NSDL participant?

Ans:- Groww is a participant of CDSL (Central Depository Services Limited). CDSL and NSDL (National Securities Depository Limited) are two central depositories in India that hold and maintain electronic securities. Groww’s association with CDSL enables seamless and secure electronic holding of securities for its users.