All you need to know about Groww App:
How does Rakesh Jhunjhunwala or Warren Buffet be successful in the Stock Market while other investors don’t reach there?
What is it that these investors do that separates them from others?
From going back to the past and studying thousands of success stories in the stock market, we understand that one of the most important factors that differentiate between success in the market and others is the technique used to trade. The traditional client-broker system has rapidly changed with the introduction of online trading platforms. These platforms charge minimal brokerage as compared to brokers and also allow the investors the facility of financial analysis on their platform itself.
For consistent trading and intraday trading, investors direly require a fast trading platform that has real-time market data, convenient financial tools and analysis, and advanced charting. So, naturally, every investor looks out for the best trading platform that provides all of these features and lower charges. Amongst the top mobile-based trading platforms in India comes Groww.
The rise of investment in Mutual Funds can be credited to the increased consumption of content on the Internet. The consumption of content has increased so much that people also constantly look forward to learning facts and increasing their knowledge base to be as updated as possible. By tapping into social media and platforms like youtube, content creators have been successfully able to spread information about the utility of Mutual funds over traditional investment products like gold and Fixed Deposits. The New-age entrepreneurs were not too late to take the opportunity and launch online trading platforms like Groww.
Groww: About and Background
Groww is an investment platform that was set up with the objective of helping people overcome the fear of investing by spreading awareness and knowledge about the market. They are constantly working on bridging the gap by educating and helping the people via their extremely informative educational sources on their website, social media platforms, and their Youtube Channel.
During the pandemic, they also collaborated with colleges and universities to conduct virtual workshops and investment literacy programs. Groww has now become one of India’s fastest-growing investment platforms that are backed by investors like Ribbit Capital, Sequoia Capital India, Y Combinator, Propel Venture Partners, Collin West, Kaufman Fellows Fund amongst others.
The Groww mutual fund and trading investment platform was co-founded by four former Flipkart employees Lalit Keshre, Ishan Bansal, Neeraj Singh, and Harshit Jain in the year 2017. With the fast growth of 60%, Groww’s user base has spread across India and extensively in Tier-2 and Tier-3 cities of India. To further increase their growth, Groww is going to launch Tsocks trading on its trading platform.
Major Highlights of the Platform:
- The Groww app is available on both Android as well as iOS.
- Groww login and registration process is free, simple, and easy.
- Direct investment in Mutual Funds and SIP with 0 commission
- Focuses on simplicity and transparency
- The Groww app mostly earns money via its advisory services and from add-on premium features on the app.
- The app allows investment via UPI
- The app has the feature to compare a maximum of 3 Mutual Funds at one time
- The website version of the App provides a detailed analysis of the user’s portfolio under Portfolio Insight
- Groww is a SEBI registered advisor
- Various educational resources, Groww SIP Calculator, Financial analysis tools and charts, latest news updates, advisory services, and Trading platform facilities.
Groww vs. Zerodha
Basis | Zerodha | Groww |
Member Exchanges | NSE | NSE |
Year of Incorporation | 2010 | 2016 |
Account Charges | Zerodha charges a trading account opening fee of INR 200 and INR 300+GSt as account maintenance charges | Groww charges absolutely nothing for opening an account or for its maintenance |
Minimum Brokerage | 0.03% in Intraday and Futures and Options. | INR 20 or 0.05% whichever is lower per executed order. |
Automated Trading Facility | Exists | Not there |
SMS alerts | Not there | Exists |
Percentage of Complaints over Active Client Base | 0.02% | 0.004% |
Trading Platform Performance | ||
Customer Service | ||
Mobile Trading | ||
Research and Updates | ||
Brand Equity |
Is Groww App Safe to use?
The app providers claim on their website that their data is completely safe and they have applied bank-grade security features for protecting users’ data on their platform. It has collaborated with BSE Star MF Platform for its transactions. So, if the app shuts down, then the investors can still continue to invest directly with the AMC.
IMAGE SOURCE: GOOGLE
