Rating Index

Pros

User-friendly interface suitable for beginners.

Low-cost trading with a flat brokerage fee of ₹20 per order.

No commission on direct mutual fund investments.

Cons

Limited investment products, with no options for commodities or currencies.

Lack of research tools and advisory services for experienced traders.

No customer support via phone, relying solely on email and chat.

Groww broker Accounts

Groww Account Type

Groww is an online discount brokerage platform based in India, offering various types of accounts to cater to the needs of different investors. The primary account types available are:

Demat Account: This account allows investors to hold securities in electronic form. It is essential for trading in stocks and mutual funds.
Trading Account: This account is used to place buy and sell orders in the stock market. It is required for executing trades in equity, futures, and options.
Mutual Fund Account: This account enables investors to invest in direct mutual funds without intermediaries, allowing for lower costs and better returns.
Digital Gold Account: Investors can also hold digital gold in this account, which provides a secure way to invest in gold without physical storage.
US Stocks Account: Groww is working on providing access to US stocks, allowing Indian investors to diversify their portfolios internationally.

Groww Broker Account Opening Process

Opening an account with Groww is a straightforward and paperless process. Heres how to do it:

Visit the Groww Website or App: Start by downloading the Groww mobile app or visiting the Groww website.
Register: Sign up using your email address and mobile number. You will receive an OTP (One-Time Password) for verification.
Verify Mobile Number: Enter the OTP received on your mobile to verify your identity.
Enter PAN Details: Provide your Permanent Account Number (PAN) for identity verification.
Bank Details: Enter your bank account details, including the IFSC code and account number, and verify them.
Complete Setup: Navigate to the “Stocks” tab and click on “Complete Setup” to unlock stock investment options.
Personal Details: Fill in your occupation, income, and parents' names, and specify your trading experience.
Signature Submission: Sign on a white paper, take a clear photo of your signature, and upload it.
E-sign the Form: Use your Aadhar number to e-sign the account opening form. Enter the OTP received on your linked mobile number.
Confirmation: Once your documents are verified, your account will be activated within a few hours.