Groww direct mutual fund app is now offering its customers demat and trading account. So, today I’m going to discuss a synopsis of Groww stockbroker and walk you through the complete step-by-step process to open a demat and trading account at Groww.
Open Free Demat and Trading account on Groww
About Groww
Groww is an India-based online investment platform that targets first-time investors and millenials. Headquartered in Bengaluru, Groww allows investors to open an account electronically and transact in mutual funds online. As of June 2018, Groww had partnered with 34 mutual fund houses and around 5000 mutual funds were available on the platform. Nextbillion Technology, the company behind the platform.
Now Groww is offering demat and trading account to trade in stocks or share market also.
Services Offered by Groww
Groww offers direct mutual fund investment and stock trading.
— Online Trading
- Paperless & Instant A/C opening with Aadhaar
- Zero Brokerage. 0.01% on Day Trading.
- Trade in Equity, F&O and currency segment
- Trade from Desktop, Mobile & Web Platforms
— Mutual Funds (Instant & Free)
- Paperless process and Zero transaction fee
- Invest in easy monthly investments
Account Opening Fees & Annual maintenance charges (AMC)
- Trading Account Opening Charges (One Time): Rs. 500 (Currently Free By this Link)
- Account Annual Maintenance Charges (AMC): Rs. 300 per year
Trading Brokerage Charges
- No charges for buying stocks (any quantity)
- 0.01% of order amount same day trading.
Advantages of Opening account at Groww
- Paperless account opening using Aadhaar Card within 5 minutes (sign application using e-Sign)
- Flat brokerage of Rs 20 for Equity Cash, F&O, and Currency derivative.
- Online Trading (Stocks, Futures & Options, and Currencies at NSE and BSE), Mutual funds under one roof.
- Free fundamental, technical and derivative research & financial advice to customers.
- Advanced and FREE technology-driven trading platforms across the web, desktop and app-based.
Open Demat and Trading Account on Groww
Disadvantages of Groww
- Groww doesn’t offer a 3-in-1 account (only demat and trading account available). You have to link your existing saving account with the Groww account.
- They don’t offer commodity trading.
How to open a demat and trading account at Groww?
You can open a 2-in-1 demat and trading account at Groww completely online free (no paper documents required). The procedure is very fast if you have all the documents ready. As a matter of fact, you can complete the account opening process within 5 minutes.
For normal intraday and delivery trading, the only documents that you’ll require are the online copy of PAN Card, Aadhar Card, Photo and Signature photo. Further, if you are also planning to trade in derivatives, then you’ll be required to submit your income proof.
The account opening process is based on Aadhar Card. Therefore, your mobile number should be mapped with your Aadhar card as you’ll receive an OTP to verify your account.
Here’s the process to open your online demat and trading account with Groww—
- Visit Groww website using this link.
- Enter your personal details (Name, email, password etc).
- Go to Stocks Section click complete setup.
- Click on Unlock Stocks.
- Fill KYC details.
- Fill trading experience if any.
- Upload Signature.
- Enter your Aadhaar and verify using OTP.
- After completing the online application, the online trading accounts get activated within 2-3 hours and you can start trading.
How to Buy and Sell Stocks on Groww App?
Here is the process how to buy, sell and add money to Groww app
Summary
Groww is one of the biggest direct mutual fund broker. Now it’s offering Demat and trading account for customers convenience. It’s aiming its large MF customers to convert into a trader. Let’s see how it works.
hello sir, my aadhaar card is not link with mobile number, can i be able to open demat account??
No, Not for now.