Is Groww App Safe for Mutual fund and Stock Investing?

Last Updated: 09-Jan-2021

Short Answer

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.

Detailed Answer

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.

What is Groww App?

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.

How does the Groww app make money?

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.

Is it Safe to Invest through Groww?

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.

Groww App: Final Review

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.

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Discussion (1)

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.

Related FAQs
Which is better Zerodha or Groww for Mutual Funds?

Zerodha as well as Groww, both allow investors to invest in Mutual funds. Groww does not charge any Account opening fees or Annual maintenance Charges but Zerodha charges Rs 200 for Account opening and Rs 300 for AMC. This makes Groww a cheaper and better option when it comes to investing in mutual funds.

Can I Invest in Stocks through Groww App?

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.

Is Opening a Demat and Trading Account Safe with Groww?

Yes, opening a Demat and trading account safe is completely safe with Groww. In fact, being an emerging entrant in the stock brokers arena, it's trying to expand its user base quite agressively. And, seeing such new players in the already competitive stock broker hub is really interesting and somewhat beneficial for the traders.

Is Paytm Money Safe and reliable Broker for Stock Trading & Investing?

Yes, it is completely safe to invest your money in the stock market using Paytm money App. In fact, PayTm has come up with stock broking services recently and trying to establish itself in the said field. And, to give tough fight to top existing players it has to keep its services up to the mark. Paytm Money made a big name in mutual fund investment industry and now it's time to see its performance in the stock brokers' world.

Which is better Groww vs. ICICI Direct?

As online trading is getting popular every day, it is becoming even more important to choose the right trading platform. Choosing the best trading platform can give you more flexibility to trade in the various trading market.

Who is the No.1 Stock Broker in India?

When talking about the best stock broker in India, we cannot rule out Zerodha. It is the market leader in bargain stockbroking, is premised in Bengaluru, and accounts for more than 15% of total retail trading activity in the country. Mr. Nitin Kamath formed the leading brokerage firm in 2010 Kamath, and it now has a customer base of over 6 million.

Can you invest in US stocks with the HDFC Sky app?

Yes, you can invest in US stocks and securities with the HDFC Sky app. Moreover, there are many more investible options provided by them.

How do I find the latest NAV of a mutual fund?

The NAV of a mutual fund is the total asset value divided by the combined number of units. You can find the latest NAV of any fund by simply searching the respective fund on a mutual fund platform. You will get all the details like NAV, performance, expense ratio, etc, by clicking on the fund.

Is Demat account required for SIP?

No, a demat account is not required for SIP or Systematic Investment Plan because a SIP can be purchased directly from an AMC (Asset Management Company), a third-party financial advisor, your bank, or other online platforms.

What are advantages of Opening Demat and Trading account with Groww?

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.