Groww Forex Broker provides real users with 1 positive reviews, * neutral reviews and * exposure review!
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Disappointed to find out that they don't offer a demo account. As a beginner, I think it would have been really helpful to practice trading with a fake account before using my own money. It's frustrating to not have this option, but I still appreciate the other features and resources that Groww offers to help me learn and invest wisely.
Summary: Groww has emerged as one of India's leading discount brokers, particularly recognized for its user-friendly platform and zero commission on direct mutual fund investments. However, it has limitations in terms of advanced trading features and product offerings compared to some competitors.
Note: It's important to highlight that the regulatory landscape may vary across regions, and this review reflects the Indian market context, focusing on Groww's operations as a SEBI-registered broker.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 9 |
| Tools and Resources | 7 |
| Customer Service and Support | 6 |
| Trading Experience | 8 |
| Trustworthiness | 8 |
| User Experience | 9 |
We rate brokers based on a comprehensive analysis of user reviews, expert opinions, and factual data.
Founded in 2016, Groww is a Bangalore-based discount broker operating under the brand name of Nextbillion Technology Private Limited. Originally established as a platform for direct mutual fund investments, Groww expanded its offerings to include equity trading, digital gold, and U.S. stocks by the mid-2020s. It is a SEBI-registered broker and a member of both the NSE and BSE. Groww does not offer traditional trading platforms like MT4 or MT5, instead providing its own web and mobile app for trading across various asset classes.
Groww primarily operates in India and is regulated by the Securities and Exchange Board of India (SEBI). It is crucial to note that while it has a robust regulatory framework in India, it does not currently extend its services to international markets.
Groww supports transactions in Indian Rupees (INR) and does not currently offer cryptocurrency trading options. Users can deposit funds using UPI, net banking, and other traditional banking methods.
There is no minimum deposit requirement to open an account with Groww, making it accessible for new investors. This feature is particularly appealing for beginners who may want to start with smaller amounts.
Currently, Groww does not offer any bonuses or promotional incentives for new users. However, its zero account opening and maintenance fees serve as a significant advantage.
Groww allows investments in various asset classes, including:
Groww operates on a flat brokerage model, charging a maximum of ₹20 per executed order or 0.05% of the trade value, whichever is lower. Notably, there are no brokerage fees for mutual fund investments. However, users should be aware of additional transaction fees, including GST and STT.
Groww offers leverage options for intraday trading, allowing users to trade with a maximum leverage of 5x. However, this is contingent on the specific stock being traded.
Groww provides a mobile app and a web-based platform for trading. While the platforms are user-friendly, they lack some advanced features found in other brokers, such as desktop applications or call-and-trade services.
As of now, Groww does not offer services for non-resident Indians (NRIs) or trading in commodities and currency derivatives, which could limit its appeal to a broader audience.
Customer support is primarily available in English and Hindi. However, some users have reported slow response times, particularly for complex queries, which could be a drawback for traders needing immediate assistance.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 9 |
| Tools and Resources | 7 |
| Customer Service and Support | 6 |
| Trading Experience | 8 |
| Trustworthiness | 8 |
| User Experience | 9 |
Groww's account opening process is entirely digital, requiring no fees or minimum deposits. This ease of access has been a significant factor in its rapid user growth.
While Groww provides educational resources, including blogs and e-books, it lacks advanced analytical tools and research reports, which some users find limiting.
Users have noted that while Groww offers email and chat support, the response times can be slower than desired. This aspect could be improved to enhance user satisfaction.
The trading experience on Groww is generally smooth, with a user-friendly interface. However, the absence of advanced order types like GTT and bracket orders may deter more experienced traders.
As a SEBI-registered broker, Groww operates under stringent regulations, which enhances its credibility. The company has also garnered trust from millions of users, reflecting its reliability.
The app's intuitive design and seamless navigation have been praised by users, making it an excellent choice for beginners. However, some technical glitches have been reported, which could impact trading.
In conclusion, the Groww review indicates that while the platform excels in accessibility and user experience, it has room for improvement in advanced trading features and customer support. For new investors looking to enter the market, Groww offers a solid option, particularly for mutual fund investments. However, more seasoned traders may find its offerings somewhat limited compared to other brokers.
