Yes, Groww app is completely safe for mutual fund, stock investing and trading. As a popular mutual fund investment plaftorm, Groww established itself quite well in the past few years. Now, it has also enetered the stock broking space so it's really good to see new entrants amid existing top discount brokers in India.
Investing in the stock market universe is no easy task. You first have to open a Demat account, select the stockbroker, see what it offers, etc. There are so many steps. But let’s say that you get interested to try out Groww as your stockbroker and feel skeptical about using the platform.
Don’t worry; it happens as it’s quite a new stockbroker in the market. But if you are wondering whether or not the app is safe? Then let’s answer this question.
Groww is a mutual fund and stockbroker company based on Bangalore. It offers trading tools via web and mobile application. The mobile application is available on iOS as well as on Android.
The app is free to use and doesn’t require any paperwork to invest in mutual funds from the various offerings of the company. The best part is that you can directly invest in mutual funds, carry out your SIP with zero commission, and even track your mutual funds.
The question does sound interesting as the app is for free, and there aren’t any hidden charges as well, so how does it make money? Well, the answer to this question is that Groww charges for exclusive features on its trading tools with premium services on the go.
To address the elephant in the room, the Groww app is entirely safe and secure to use. The app utilizes 256-bit encryption to store all personal information on the app. All the transaction which are from and to the AMC is undertaken via BSE. At no point does the money reach Groww.
Besides the type of encryption used as mentioned earlier, the app employs bank-grade security features where all the personal data is kept safe.
The company’s primary focus is on making the trading and investing venture a relatively smooth and seamless process. The mobile version is fine-tuned with larger icons and a user-friendly interface. Giving its users an optimal experience and ensuring all transactions are carried out adequately.
Other than this, the Groww app offers well over 300+ mutual funds from over 30+ AMV. The process of investment is relatively safe and secure. The app takes you through a step by step process in terms of investment, which is through the BSE page.
Furthermore, Groww is certified by the BSE and AMFI. If you are still not convinced, then you can check the certificate of registration number with SEBI as well (as displayed on their official site).
While using the Groww app, the authorization for any investment or any changes to be made is undertaken by you. The app showcases every investment, selling, buying, and other necessary notifications. Keeping the user 100% in control of the money and mutual fund investments at all times.
This mutual fund and stock investing app is quite friendly and offers a wide array of features and services that users can use freely. While keeping the end-user in mind, things are designed accordingly, and maintaining safety as the priority. So you can enjoy using it without thinking twice as even their customer service is quite responsive and impressive.
The platform at first started out as a mutual fund investment platform offers a broad array of investments to choose from. It has a fair bit of experience and does the job quite well. One can trust the platform in providing fully-fledged services of making your mutual funds’ investments as seamless as possible. Coming down to the stock investments, then it’s a nascent platform but yet its reliable. Don’t expect any fancy stock trading services but handles the trading quite well indeed.