Groww App Review and Charges 2021 (Stockbroking): Online investing and intraday trading have seen a rise in the number of users in the last year giving a much-needed push to several discount brokers. Many stockbrokers have emerged in the last few years offering amazing investment and trading facilities to their clients. One such platform is GROWW. 

Here is the Groww App review – an investing platform that has had significant growth amidst the pandemic.

Groww App – About the Company

Groww App Review 2021

Groww is one of the fastest-growing investment platforms in India. Groww is the brand name for Nextbillion Technology Private Limited – a SEBI registered stockbroker and a member of NSE and BSE. Initially, Groww a Bangalore-based startup was set up in 2016 as a platform to directly invest in mutual funds.

Keeping up with the increase in demand for equity trading in the midst of the pandemic the company also offered equity trading. The vision behind the Groww App was to set up was to create a powerful yet simplest to use App for trading from anywhere. With this, the app came up with the philosophy of making “Investing should be as simple as online shopping”. Today the company offers Mutual Funds, Demat Services, Trading Services, Intraday Services, IPO Services, and Trading Exposure. 

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According to the business model set up Groww is a discount broker and has no physical presence. The company operates online and consumers can contact them through these means. Groww earns revenue through a subscription revenue model, where it offers premium features to its customers. The company has a team of over 100 members. Using technology the company has grown to provide quick, easy-to-use solutions for investing and trading from the comfort of our homes. The company is known for its offers and low expenses.

Groww App Review – Key Features

1. Mutual Funds Investment

Investing in Mutual Funds online can be done through the apps released by the individual asset management companies (AMCs). But these investments will be limited to the products offered by that particular AMC. The Groww app aggregates mutual fund products offered by various fund houses. This allows investors to find the best product in one place.

Investors can find small-cap, large-cap, mid-cap, multi-cap for the long term, and higher returns. The app also includes balanced funds, gold funds, sector funds, and international funds. Groww offers investors more than 5,000 MF schemes. Investors can sort through the various options depending on returns, tax-saving, and sector bets.

The app also provides ratings for mutual funds by Value Research Online. By offering a platform for direct investment in mutual funds investors can save up to 1.5% of their returns.

2. Simple Interface

As mentioned earlier the app is made as simple to use as possible. In addition, Groww also provides investors the option to trade both via the web and through their phones. Groww features a desktop browser platform, Mobile Site Platform, Android App, and an iOS app.

The app provides live price movements,  candlestick charts, online orders, information to explore stocks, and the ability to invest in IPO’s. Investors can also create a market watch to personally monitor their favorite stocks. One can also create customized market watch lists. The Charts in the app are simple and easy to understand with complete information for investing.  

In addition, Groww also provides resources for beginners like  Ebooks, and blogs, and video courses. The platform is convenient and fast.

3. Equity Investments

Apart from mutual funds, the App provides the perfect platform for both investing and trading stocks. Although the initial focus of the company lay in Mutual Funds the company released its trading platform in June 2020.

Currently, you can do delivery (long-term) investment and intraday and intraday trades using Groww platform.

The app also provides investment in US Stocks, Digital gold, and Corporate FD.

4. Payment Options

Groww app lets users pay through various options like UPI, Net Banking, NEFT, a one-time mandate for SIP installments for Autopay using OTP’s. The app also sends timely notifications of all existing transactions like monthly SIPs and unit allotment. This makes payment and transfer of funds easy and convenient.

5. Tracking Investments

Another unique feature provided by the app is the ability to track investments across all platforms. The app does this by scanning the  Consolidated Account Statement (CAS) from CAMS or Karvy. This can be done by providing the app access to Gmail or by manually forwarding the latest statement. 

Once this is done the app also gives the investor an analysis of his investments using pie charts. This chart depicts the percentage of his investments from mutual funds in equity, debt, etc.

6. Security

Groww app contains a high-level 128-bit encryption standard. This is maintained for each and every transaction. The encryption is similar to those in banking standards. 

The app also provides a unique and convenient fingerprint scanner to log in securely. This feature is the first of its kind for similar platforms. The app also saves the time a username and password was logged in. It also ensures that if the device is misplaced or stolen, no access takes place.

7. No minimum balance

The app does not require investors to maintain a minimum balance in the Groww balance account. This balance can be maintained as per investor preference.

Groww App Review – Opening & Brokerage Charges

One of the biggest perks of using Groww is its competitive charges. The following table sheds light on the rates applicable:

ParticularsGroww Charges
Account Opening ChargesFree
AMC ChargesFree
Equity Delivery TradingRs.20 per executed order or 0.05% of order value (whichever is lower)
Equity Intraday TradingRs.20 per executed order or 0.05% of order value (whichever is lower)

— Groww Delivery Brokerage Charges 


— Groww Intraday Brokerage Charges

Closing Thoughts

Groww is slowly becoming one of the top investing/trading platforms. But still, there are a few concerns raised regarding the quality of the app. For example, Groww doesn’t offer to trade in Derivatives i.e. futures and options as of current.

Further, based on the feedback provided on the play store users complained over the lack of customer service provided. But despite this, the app has a stellar rating of 4.4 stars on the play store with over 10 million downloads. Let us know what you think about Groww below. Happy Investing!

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