Groww Broker Review
Your Comprehensive Guide to Groww’s Trading & Investment Services.
Open Free Account with Groww1. Broker Overview
Full Name: Nextbillion Technology Private Limited
Brand Name: Groww
Year of Establishment: 2016
Type: Discount Broker
Headquarters: Bengaluru, Karnataka
SEBI Registration No: INZ000208032
Depository Participant: CDSL
DP ID (CDSL): IN-DP-417-2019
Website: groww.in
2. Investment Products Offered
- Equity (Stocks – Delivery, Intraday)
- Equity Derivatives (Futures & Options)
- Direct Mutual Funds
- Initial Public Offerings (IPOs / FPOs)
- SGBs (Sovereign Gold Bonds – when available)
- ETFs (Exchange Traded Funds)
3. Overall Ratings & Breakdown
4. Account Opening
Charges (Trading & Demat):₹0 (Free)
AMC (Annual Maintenance Charge):₹0 (Free for Demat Account)
Process:Completely Online & Paperless
Required Documents:PAN Card, Aadhaar Card (mobile linked), Bank Proof (Cancelled Cheque/Statement), Signature.
5. Brokerage & Other Key Charges
Brokerage Charges
| Segment | Brokerage Charge |
|---|---|
| Equity Delivery | Lower of ₹20 or 0.05% per executed order |
| Equity Intraday | Lower of ₹20 or 0.05% per executed order |
| Futures & Option | Flat ₹20 per executed order |
| Mutual Funds (Direct SIP & Lumpsum) | ₹0 (Zero Brokerage) |
| Stocks IPO / FPO Application | ₹0 (Zero Charges) |
Note: Brokerage is charged per executed order. Groww does not offer monthly or unlimited brokerage plans.
Other Key Charges (Statutory & Transactional)
Apart from brokerage, the following charges may apply to your transactions:
DP Charges (Debit from Demat):
₹15 + 18% GST per ISIN (company) when you sell shares from your Demat account, irrespective of quantity sold on that day.
Auto Square-off Charges:
₹50 + 18% GST per squared-off position by Groww (if you don’t close your intraday positions).
Pledge/Unpledge Charges:
₹20 + 18% GST per pledge or unpledge request per ISIN.
Payment Gateway Charges:
- UPI: Free
- Net Banking: ₹9 + 18% GST per fund addition.
Call & Trade Charges:
₹50 + 18% GST per executed order placed through customer support.
Statutory Charges:
These are levied by the government and exchanges, not by Groww:
- Securities Transaction Tax (STT) / Commodities Transaction Tax (CTT)
- Exchange Transaction Charges
- GST (18% on Brokerage + Transaction Charges + SEBI fees)
- SEBI Turnover Fees
- Stamp Duty (varies by state and instrument)
Important: All charges are subject to change and may have other specific conditions. Please refer to the official Groww pricing page for the most current, detailed, and comprehensive list of all charges.
Brokerage Calculator
Estimate your exact brokerage and other transaction costs using Groww’s official calculator:
6. Margin & Leverage
Intraday (Equity):Up to 5x (Stock & SEBI specific)
F&O (Equity, Currency, Commodity):As per Exchange (SPAN + Exposure)
Delivery (Equity):1x (No leverage)
Against Pledged Shares:Yes, available post haircut.
7. Trading Platforms
Web:Groww Web (groww.in)
Mobile:Groww App (Android & iOS)
Desktop:Not Available
Notable Features:
- Clean UI/UX, extremely beginner-friendly
- Integrated Stocks, Mutual Funds
- TradingView charts for F&O, Dark Mode
- Simple order placement and portfolio tracking
8. Tools, Features & Advisory
Charting:In-house charts, TradingView for F&O segment.
Option Chain:Yes, available for F&O.
Strategy Builder:Basic option strategy tools, if any.
API Access:Not available for retail users.
Order Types:Market, Limit, Stop-loss (SL, SL-M), GTT (Good Till Triggered), AMO (After Market Orders).
Investing/Trading Tips & Advisory:
Groww focuses on a DIY approach:
- Extensive educational content via Blogs, YouTube videos, and “Learn by Groww” section.
- Provides basic stock data, news, and insights within the platform.
- No personalized investment advisory or stock recommendations.
9. Extra Features & Value Adds
All-in-One Investment Platform:
Seamlessly invest in Stocks, Direct Mutual Funds, and apply for IPOs from a single app/web interface.
“Learn by Groww” – Educational Hub:
Comprehensive learning resources for beginners to advanced investors, including:
- Articles, Videos, Courses on various financial topics.
User Experience (UX):Known for its exceptionally simple, clean, and intuitive user interface, making it very easy for new investors to get started.
SIP in Stocks:Allows setting up Systematic Investment Plans (SIPs) directly in stocks.
Groww Balance:A wallet-like feature for quick fund addition and investment without repeated bank transactions.
Calculators:Provides various financial calculators (SIP, Lumpsum, Brokerage, etc.) on their website and app.
Note: Groww continuously adds features. Always check their platform for the latest offerings.
10. Pledge Facility
Pledging Allowed?Yes, for approved stocks and MFs.
Pledge/Unpledge Charges:₹20 + 18% GST per request per ISIN. [As per other charges section]
Margin Time:Usually T+1 day for stocks, varies for MFs.
11. Fund Transfer & Withdrawal
Supported Fund Transfer Methods:UPI (via Groww UPI – Free), Net Banking (₹9+GST), NEFT/RTGS.
Withdrawal Process & Time:
Online process.
- Standard NEFT/RTGS: Usually processed within 24 working hours (T+1 for equity sale proceeds).
- Instant Withdrawal: N/A
Fund Transfer/Withdrawal Charges:Fund addition via UPI is free. Netbanking has charges. Withdrawals are generally free.
12. Customer Support
Support Channels:
- Email: support@groww.in
- Help & Support section in App/Web (Ticketing system)
- Limited Live Chat functionality
- Social Media Support (e.g., Twitter @growwcares)
- Phone Support: Generally callback based or for specific escalations.
- Grievance Escalation Matrix: View Here
Support Timings:Business hours (e.g., 9 AM – 7 PM, Mon-Sat). [Verify exact timings on Groww].
Turnaround Time (TAT):Varies. Simple queries often resolved quickly. Complex issues might take 24-72 hours or more.
Note: For urgent issues, using the in-app help or official escalation matrix is advised.
13. Broker Complaints & Reliability (FY 2024–25)
NSE (National Stock Exchange)
Active Clients: 4,885,140
Total Complaints: 127
Resolved: 111
Non-Actionable: 7
Pending: 9
BSE (Bombay Stock Exchange)
Active Clients: 882,423
Total Complaints: 11
Resolved: 10
Non-Actionable: 0
Pending: 1
Source: GarvThakur (for FY 2024-25 data). Complaint data is dynamic and for representational purposes. Always cross-verify with official exchange reports for the latest figures. Consider the complaints-to-active-clients ratio for a fair comparison.
14. Why Choose Groww? (And Why It Might Not Be For You)
Reasons to Use Groww (Pros)
- Absolutely Free Account Opening & Zero AMC for Demat Account.
- Extremely Simple and Clean User Interface (Great for Beginners).
- All-in-One Platform: Stocks, Mutual Funds, Gold, F&O.
- Competitive Flat Brokerage (₹20 for F&O, low for Equity).
- Smooth, Paperless Online KYC and Onboarding.
- GTT (Good Till Triggered) Orders for strategic investing.
- Strong focus on financial education through “Learn by Groww”.
- Growing user base and strong brand recognition.
Reasons to Reconsider Groww (Cons)
- No Dedicated Desktop Trading Terminal (Web & App only).
- Limited Advanced Trading Tools for pro traders (e.g., advanced charting, API).
- Customer Support can be slow for complex issues; direct phone support isn’t always readily accessible for all queries.
- Lacks In-depth Research Reports or Personalized Stock Advisory (focus is DIY).
- No physical branch network for offline support.
- Call & Trade facility is available but chargeable.
15. Current Offers & Referral Program
Refer & Earn:Active program with varying benefits (cash rewards, etc.). Check app/website for details.
Promo Code:Typically available via referral links or specific marketing campaigns.
Important: Offers and referral program benefits are dynamic. Always verify current promotions on Groww’s official website or app.