What are advantages of Opening Demat and Trading account with Groww?
- Asked By
- Updated On:07-Jan-2021
- Replies:1
Short Answer
Bangalore based online discount broker Groww was found in 2016 and provides plenty of trading and investment opportunities. Users can invest in mutual funds, currency, derivatives, equity, and more. the investment opportunities are backed with guidelines set by NSE, BSE, and SEBI.
Detailed Answer
Since its inception, the discount broker has amassed more than 60+ lakh users and provides a pocket-friendly application that is lightweight on your smartphones yet powerful. It's quite a secure platform with no transaction charges, fees for subscription, and no hidden charges.
Pros of Opening Demat & trading account with Groww
- Comprises of various platforms from which investors and traders and execute their operations. These platforms include desktop, web, and mobile applications.
- Investors using this platform can make investments without any geographical barriers. Users can easily buy stock and shares and execute trades from anywhere globally without paying any additional fees or taxes. Meaning making investments in the US stock market is possible through Groww.
- The Demat account offered by Groww is free. Those looking to invest in mutual funds can invest without paying any additional costs for opening the account.
- The advice offered by Groww is top-notch and entirely accurate as well. Technical and statistical advice is given continuously about the trending stock and other information based on your trading operations. Brownie points for all this being free.
- Securities held by a person can be frozen for a specific amount of time based on the user's preference.
- The paperwork in opening an account account with Groww is quite minimalistic. It's relatively straightforward where softcopies of documentations are preferred over hard copies.
- Theft, forgery, or scams are eliminated t the highest order, all thanks to Groww's impeccable security systems backed up with industry-leading security solutions in protecting its Demat account.
- Once the user opens a Demat account, the number of opportunities opens exponentially for users to trade in currencies, Equity, IPO's, Futures, and much more. Mostly all of the listings on the NSE and BSE.
- The flexibility of trading in any segment and buying stocks of any quantity without paying anything extra than what needs to be paid is a bonus that the broker has to offer.
- The maximum brokerage charge is capped at 20 rupees per trade for any trade that might get executed.
- There are no maintenance charges associated with the Demat account opened with Groww.
- The backend support offered by the stock broker Is quite exceptional. With many ways in which users can get in touch with the company, the reliability increases substantially.
- All of the company's applications in terms of trading and investments are state of the art with excellent user interfaces and stability.
- Almost all your expenses are capped to the lowest possible expenditure giving you more flexibility in thinking about your next investment than on the brokerage or hidden charges.
Groww Review
The stockbroker is quite renowned in the stock market universe, thanks to its diverse investments made in the technology sector in making trading better, faster and safer. It aims to make investors' lives easy and provides as many tools and services as a wholesome trading experience.
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Discussion (0)
You might have read about different stock brokers in India. Here I'll review two of the most popular discount brokers in India: 5Paisa v/s Zerodha Comparison.
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Yes, now you can easily invest in stocks through the Groww App. It is a popular discount stock broker firm in India who recently expanded its services to the the stock broking arena. It allows traders to invest online without any subscription fees, transaction charges or any other charges.
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To close your Groww Demat account, go to your profile, click on "Help & Support," then type "I want to close Groww Demat account," then click on "Contact Us." From there, you can call or submit a ticket to the team, and they will assist you further.