Groww Broker review and Brokerage Charges
Groww was launched in 2017 by former Flipkart executives Lalit Keshre, Harsh Jain, Neeraj Singh and Ishan Bansal. Groww started as a platform for buying direct mutual funds. Currently, It has over 6 million registered users and caters to investors across more than 800 cities. It is backed by some of the marquee investors, which include Sequoia, Ribbit, YCombinator and Mukesh Bansal, among others.
Groww offers investments in Direct mutual funds without any commission or charges, the same happens without paperwork and within minutes. Groww has also taken a community-based approach by starting various groups and channels on the App, keeping in mind that people find it easier to invest when they consult their peer groups.
- Groww charge Rs.20 per executed order or 0.05% of order value (whichever is lower) for delivery trade.
- Equity intraday trade at Rs. 20 or 0.05% (whichever is lower)
- Groww provides mutual funds investment at Zero Fees, No transaction charges,
- 100% paperless online Demat account opening
- 128-bit SSL Encryption
- Get complete stock analysis with company financials like P&L, Balance Sheet, etc & pick your best shares to buy free of cost
- No DP charges on buy.
- Highly rated Groww mobile App
- Facility to invest in US Stocks
Groww Trading Account Advantage & Disadvantage
- Free research services
- No DP charges on buy & low brokerage.
- commission Free mutual fund investment
- Free Demat & Trading account, No charges on account opening
- Zero Clearing Charges
- No Currency Trading, Grow does not provide Currency Options & Future Trading.
- Does not provide a 3in1 account facility.
- Does not provide commodity Trading
- Does not provide trading options: Bracket, GTT orders, etc
Groww Account Opening & AMC Charges
Groww charges Rs. 200 account opening for Trading Account but currently, they are offering at free of cost as a limited period offer. Groww does not charge account maintenance charges to maintain your account.
| Type | Account Opening (One Time) | Annual Maintenance Fees (Yearly) |
|---|---|---|
| Trading Account | Free | Free |
| Demat Account | Free | Free |
Groww Mutual Fund Investment:
Investors at Groww can invest in direct mutual funds through its online MF platform. The broker charges zero commission which results in ~+1% extra returns. Groww also provides a facility to switch regular funds to direct funds for free. Groww also provides a ready-made collection of mutual funds recommended by experts & top mutual funds listed for different categories to its clients.
Groww Brokerage Charges
| Segment | Groww Brokerage Charges |
|---|---|
| Equity Delivery | 0.05% or Rs. 20/executed order whichever is lower |
| Equity Intraday | 0.05% or Rs. 20/executed order whichever is lower |
| Equity Future | Flat ₹20 per executed order |
| Equity Options | Flat ₹20 per executed order |
| Currency Future | Trade Available |
| Currency Options | Trade Not Available |
| Commodity | Trade Not Available |
Groww Transaction Charges:
| Segment | Transaction Charges |
|---|---|
| Equity Delivery | NSE Rs.325 per Cr (0.00325%) | BSE Rs.300 per Cr (0.003%) (each side) |
| Equity Intraday | NSE Rs.325 per Cr (0.00325%) | BSE Rs.300 per Cr (0.003%) (each side) |
| Equity Future | 0.002% |
| Equity Options | 0.053% |
| Currency Future | NA |
| Currency Options | NA |
| Commodity | NA |
Groww Security Transaction:
| Segment | STT/CTT |
|---|---|
| Equity Delivery | 0.1% on buy & sell both |
| Equity Intraday | 0.025% on the sell-side only |
| Equity Future | 0.01% On the Sell-side |
| Equity Options | 0.05% On the Sell-side (ON PREMIUM) |
| Currency Future | No STT |
| Currency Options | No STT |
| Commodity | NA |
Taxes on Stock Trading at Groww:
18% GST on (brokerage + transaction charges)
SEBI CHARGES:
Charged by SEBI at 0.00005% or Rs.5 / crore for regulating the market
STAMP CHARGES applicable for trading at Groww:
Charged by govt as stamp duty for contract notes. It is applicable only to buy orders at 0.015% for equity delivery trade and 0.003% for equity intraday
DP Charges at Groww:
- DP Charges (Sell Order) - This is charged by DP for debiting stocks from the Demat account. It is at Rs. 8+ Rs. 5.50(CDSL Charges)per ISIN per day on Groww regardless of quantity sold
- DP Charges (Buy Order) - It is Zero on Groww
The Final Thoughts about Groww
Groww has all the things to serve their clients well from Brokerage free trading for Delivery trade , attractive brokerage on Intraday trade, Zero Commission direct mutual fund investment, all kind of trading platforms, MF Investment, Facility to invest in US Stocks but they have to provide all kind of trading facility be it Currency trading or commodity trading to attract more clients or traders.
Frequently Asked Questions:
-
1. Is Groww with CDSL or NSDL?
Demat account in Groww broker is with CDSL
-
2. What is Equity Intraday brokerage of Groww?
Groww charges 0.05% or Rs. 20 per executed order, whichever is lower for equity intraday trades, irrespective of the number of shares or their value.
-
3. What is Equity delivery brokerage of Groww?
Groww charges Rs.20 per executed order or 0.05% of order value (whichever is lower) for Equity delivery Trade.
-
4. What is Call and Trade charges in Groww?
Groww does not provide call & Trade facility
-
5. What is dp charges in Groww?
DP charges are levied by the Depository (CDSL) and the Depository Participant (Groww). The DP charges is Rs.8 + Rs.5.50 (CDSL charges) per ISIN (company/ETF) per day on Groww regardless of quantity sold.
-
6. Does Groww charge for withdrawal?
Groww does not charge any fees for the withdrawal of funds
-
7. Can I use Groww for IPO?
Yes, you can invest in upcoming IPOs on Groww with your UPI ID, Login via desktop, and go to https://groww.in/ipo to apply for the latest IPOs.
-
8. How to Open Account Online with Groww?
The accounting opening process with Groww is completely online and Paperless with an E-sign option to complete the account opening. Groww also not charge anything for account opening
Below are the steps which need to be followed to open a Groww account online:
- Login to Groww web/app.
- Register with your mail id and mobile number.
- Provide your identity details, bank details, personal details like occupation, income, parents name, trading experience./li>
- Take Picture and Upload your signature on white paper./li>
- E-sign based on your Aadhar to complete the account opening process.
In case your mobile number is not linked to your Aadhar number, you can choose to download the AOF and send a physical copy of the AOF to the broker office for verification.
User Reviews
Post New Message
0 Comments