Groww App Review 2021 – How Good is Groww Stockbroking App?

By Trader Pit

July 9, 2021


This week in our groww app review, we will be looking at the all-new groww stockbroking app. This is a stockbroking app that is available on all major phone platforms including iOS, Android, and Windows, in addition to Windows 10. For those who are unaware, stockbroking is the act of buying shares in a company, and then selling them back at a higher price. Traderspit is an independent blog and website that focuses on reviews of software, products and services that can be useful and relevant to traders and investors in the stock market. We will be looking at the new Groww Stockbroking App, which is available for both Android and Iphone, and we will also be looking at some of

Groww stockbroking app is the new revolutionary stockbroking app which lets you track all your trades, portfolio, market research and much more.

Groww App Review and Charges 2021 (Securities Brokerage): The number of users of online investments and intraday trading has increased over the past year, giving some discount brokers a much-needed boost. In recent years, many stockbrokers have emerged to offer their clients amazing investment and trading opportunities. One of these platforms is GROWW.

Here’s a look at the Groww app, an investment platform that has seen significant growth in the context of the pandemic.

Groww App – About

Groww is one of the fastest growing investment platforms in India. Groww is a brand of Nextbillion Technology Private Limited, a SEBI-registered stockbroker and a member of the NSE and BSE. Groww, a Bangalore-based startup, was initially founded in 2016 as a direct investment mutual fund platform.

Due to the increased demand for stock trading, the company offered stock trading even during the pandemic. The idea behind the Groww application was to create a powerful but easy to use application to transact from anywhere. For this reason, the application has developed a philosophy: Investing should be as easy as shopping online. Today, the company offers mutual funds, dematerialized services, trading services, intraday services, IPO services and trading commitments.

According to the established business model, Groww is a discount broker and has no physical presence. The company is online and consumers can contact the company that way. Groww generates revenue through its subscription-based revenue model, offering premium features to its customers. The company has a team of over 100 employees. With the help of technology, the company started offering quick and easy solutions for investing and trading from home. The company is known for its offers and low costs.

Overview of Groww applications – Key features

1. Investments in mutual funds

Online investing in mutual funds can be done through applications issued by individual asset managers (AMCs). However, these facilities are limited to the products offered by that particular CMA. The Groww application brings together fund products from different fund companies. This allows investors to find the best product in one place.

Investors can find small, large, mid and multi-cap stocks with long-term prospects and higher returns. The scheme also includes balanced funds, gold funds, sector funds and international funds. Groww offers investors over 5,000 MF programs. Investors can choose from several options based on yield, tax savings and interest rates.

The application also includes mutual fund rankings from Value Research Online. By offering a direct investment platform for mutual funds, investors can save up to 1.5% on their returns.

2. Single interface

As mentioned earlier, the application is as simple to use as possible. Groww also offers investors the opportunity to trade both online and by phone. Groww has a browser-based desktop platform, a mobile website platform, an Android app and an iOS app.

The app offers real-time quotes, candlestick charts, online orders, stock information and the ability to invest in IPOs. Investors can also create a market summary to personally track their favorite stocks. It is also possible to create individual market watch lists. The graphics of the application are simple and clear, with complete investment information.

Groww also offers resources for beginners, such as B. E-books, blogs and video courses. The platform is convenient and fast.

3. Participating interests

In addition to mutual funds, the application offers an ideal platform for investing and trading. Although initially focused on mutual funds, the company launched its trading platform in June 2020.

Currently, you can use the Groww platform to make both deliverable (long-term) investments and intraday trades.

The app also offers investments in US equities, digital gold and corporate FDs.

4. Payment options

Groww application allows users to make payments with different options like UPI, Net Banking, NEFT, Single mandate for SIP automatic payment mandate with OTP. The app also sends timely notifications for all existing trades, such as monthly SIPs and stock allocations. This makes payments and transfers simple and easy.

5. Monitoring of investments

Another unique feature of the app is the ability to track investments across all platforms. To do this, the application scans the consolidated statement of account (CAS) from CAMS or Karvy. You can do this by allowing the application to access Gmail or by manually uploading the last statement.

Secondly, the application also provides investors with a pie chart analysis of their investment. This chart shows the percentage of his investments from mutual funds in stocks, bonds, etc.

6. Safety

The Groww application contains a high encryption standard of 128 bits. This information is stored for each transaction. The encryption is similar to the encryption of the banking standard.

The app also features a unique and convenient fingerprint scanner for secure login. This feature is the first of its kind for similar platforms. The application also records the time when the username and password were entered into the system. This also ensures that access is impossible if the device is lost or stolen.

 

Short note
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7. No minimum balance

The application does not require investors to have a minimum balance in their Groww balance account. This balance can be maintained according to the investor’s preference.

Groww App Review – Research and Referral Reimbursement

One of the main advantages of Groww is its competitive price. The following table gives an overview of the applicable rates:

 

rooms Compensation
Costs for opening an account Free
CMA fees Free
Trading with delivery of shares Rs. 20 per completed order or 0.05% of the order value (whichever is lower).
Intraday share trading Rs. 20 per completed order or 0.05% of the order value (whichever is lower).

– Brokerage commission for the supply of growth

– Increase in intraday brokerage fees

Final thoughts

Groww is slowly becoming one of the best investment/trading platforms. However, there is some concern about the quality of the application. For example, Groww does not currently offer trading in derivatives, i.e. futures and options.

Judging by the reviews on the Play Store, users have also complained about the lack of customer service. Despite this, the app has an excellent score of 4.4 stars in the Play Store, with over 10 million downloads. Tell us what you think of Groww below. Have fun investing!

Aron, who holds a Bachelor of Commerce degree from Mangalore University, came into the world of equity research to explore his interest in financial markets. Outside of work he watches soaps, encourages the RCBs and dreams of going to Kasol as soon as possible. He also believes that eating ice cream with kids is the best way to teach them about taxes.

Frequently Asked Questions

How reliable is Groww app?

Groww app is reliable.

Is trading on Groww app safe?

Trading on Groww app is safe. We use the latest security technology to protect your account.

Is Groww demat account safe?

Yes, Groww has been in business for over 7 years and is fully compliant with all international regulations.

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About the author

Trader Pit

A yogi who like Finance and Technology. I have been in Indian Stock market for over 12 years now as financial analyst, portfolio manager, trader. Now, I focus on Yoga, Financial Education & Long term investing. 

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