Groww has its trading platform on web and mobile trading apps which offers a seamless trading experience to its investors. It is a safe and secure app with 128-bit encryption and is one of India’s fastest-growing platforms with a strong user base. It is also one of the highest-rated apps in the Google Play Store. In this article, we will tell you about the Groww mobile app review, So read the full article to get the complete detailed information about this online broker and get the detailed review.

About Groww App

Groww is one of the fastest-growing investment platforms in India which has 90 plus lakh customers. It started in 2016 as a direct mutual fund platform and currently, this app allows investors to trade and invest in stocks and mutual funds. Groww app is a Smartphone trading app that is available for free to all its customers. It is an intuitive trading app with a simple design and clean user interface which makes the trading experience easy, swift, and convenient. This app is safe and secured with a high level of encryption standard with 128 bit SSL encryption which keeps all the personal information and transactions safe and secure within the app. This app is available for both Android and iOS smartphone users.

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Key Facts about Groww app

Groww app has many key facts which are as follows:

  • It has zero Commission direct mutual funds.
  • The maximum brokerage charge per trade is rupees 20.
  • It has instant and paperless online account opening.
  • It provides customer awareness through educational and informative blogs and ebooks.
  • It has a feature to switch external regular mutual funds to direct mutual funds.
  • This app provides investment in US stocks, digital gold, and corporate FD.

Features of Groww app

Groww app offers a lot of features to its users. Some of the key features are mentioned below:

  • It is user-friendly, simple, and has a clean user interface.
  • It has a one-click order placement.
  • It is a safe and secure app.
  • It offers instant paperless account opening.
  • It has candlestick charts to show price movements and historical performance.
  • It offers the latest news and insights resources, blogs, videos, and content-related information to financial markets.
  • It has complete information on all listed Indian companies.
  • It offers real-time price updates.
  • It has an in-app help and support section for quick query resolution.
  • It provides a facility to chat with customer helpdesk.

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Benefits of Groww App

Groww is an efficient app that offers a wide range of benefits to its users which are as follows:

  • It offers easy trading with a simple design and clean user interface.
  • It offers faster trading on account of one-click order placement.
  • It has secure trading with modern encryption techniques.
  • It has a hassle-free and paperless account opening.
  • It has no separate login for mutual fund investments.

How to use: Ways to use Groww app

Groww app can be used on both Android and iPhone. To use this app, you just have to download the Groww app from the Play Store or App Store and then log in using the credentials set up while opening the account with Groww. This app can be used to invest in stocks and mutual funds.

How to withdraw fund: Steps to withdraw fund

You can withdraw money from the Groww app by following just a few simple steps which are as follows:

  • Firstly, log in to your Groww account
  • Tap on ‘You’ and then tap on your Groww balance
  • Tap on withdrawal option
  • Enter the amount you want to withdraw and tap on withdrawing and done.
  • The withdrawn money will be credited to your account within 24 hours.

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How to transfer money in the Groww app?

Here are the steps to transfer funds to Groww:

  • Firstly login to Groww either through the web or the mobile app
  • Tap on ‘You’ under your Groww account profile
  • Then click on ‘Add money’
  • Choose the desired mode of payment from UPI Or net banking
  • In case you choose to pay using UPI then enter your UPI ID and approve the mandate.

How to buy an IPO using the Groww app?

Currently, the Groww app does not have an option to invest in an IPO. The company has recently launched the online IPO application through Groww on the web and it is also looking to add this feature to the mobile app to allow IPO application to the Groww mobile app.

The following are the steps to apply online in an IPO through the Groww website:

  • Firstly login to grow website
  • Select the IPO from the list of open IPOs.
  • Now enter the number of shares in the multiples of lot size.
  • Enter the bid price within the price range or tick on the cut-off price
  • Click on the continue option
  • Enter your UPI ID and click on submit a bid
  • At last, open your UPI app and approve the payment request.

How to cancel a Demat account?

You can close your GrowwDemat account by submitting an offline closure request to the broker as the account cannot be closed online. You have to send a signed paper form for account closure to the broker to close the account. The following are the steps to close the GrowwDemat account:

  • Firstly download the Groww account closure form which is available on the Groww website
  • Fill in all your required details like client ID, name, address of the account holder, and reason for the closure
  • Now tick on closure for Demat and sign the form
  • At last, send the duly filled form to the address mentioned on the form.

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What are the charges to transfer funds to?

Groww app charges zero fees for funding your USD balance. For any foreign funding transaction, usually, the Bank charges a Forex conversion rate and a service charge + GST for every outward remittance so depending on your bank, this can range from 500 rupees to 1000 rupees. Further, there are no other hidden charges for funds transfer.

FAQs

1. Can you transfer the funds using a mobile app in Groww?

Ans. Yes, you can transfer funds in Groww instantly. Further, you can add it to the Groww balance or make a separate transaction each time through the Groww mobile app by using UPI, net banking, or NEFT.

2. Does the Groww app have derivatives trading?

Ans. No, the Groww app does not offer F&O derivatives trading as of now. The company is working on its development and is planning to launch it soon. But currently, the Groww app offers stocks, mutual funds, IPO, and digital gold as investment options.

3. Why is the Groww app safer than other brokers?

Ans. Groww has started as a mutual fund investment platform and is very new in the equity Stock Broking space and therefore we may not be able to assess the company based on a client-to-complaint ratio and regulatory violations. However, certain points should be considered which tell us that it is safer than other brokers.

  • No Margin funding

Groww app does not offer risky products of margin funding to its customers for trading.

  • Trusted by millions of users

This company was started in 2016 with the mutual fund as the only offering. It has 90 lakh plus users across India in such a short span. Therefore, the healthy client base reflects the trust of the customers over the years.

  • Trusted by world-class investors

Grow has strong backing from world-class investors like Ribbit Capital, Sequoia, Combinator, Kauffman Fellows, Propel, and Kairos. The investments from such big investors in the company mean that the investors have high confidence in the management of the company.

  • Simple pricing model

Groww has one single brokerage rate for all its customers and having a single rate for all its customers reduces the operational risks significantly.

  • No advisory services

Groww publishes a lot of content and information related to capital markets for educational and awareness purposes. However, it never offers any advice, tips, or recommendations to its customers. The company only offers online trading services therefore there is no conflict of interest or financial motive to push a particular product to the customers.

4. Is Groww a reliable company?

Ans. Groww is a SEBI registered broker and a member of BSE and NSE and a CDSL depository participant member. This company is genuine with all required licenses to conduct the business.

Conclusion

Groww app is a proprietary trading platform that is owned by Groww. This app is safe and secure with a simple, clean, and beautifully designed interface that allows investors to invest in stocks and mutual funds. It is an evolving app with many advanced features and products which are lined up to be added to the app in a phased manner. With the advancement in the digital era, Groww aims to be an All-in-One online investment platform that can allow its investors to invest across multiple asset classes like stocks, mutual funds, derivatives, gold, US stocks, fixed deposits, etc very easily. In last, I hope this article is sufficient enough to provide the information about Groww App Review.