Is Groww SEBI registered?
- Asked By
- Updated On:23-Jun-2021
- Replies:1
Short Answer
Groww is a SEBI registered Stock Broker as according to the Section 12(1) of the SEBI act 1992, No stock broker is allowed to transact in any securities before obtaining the Certification of Registration (COR) from SEBI (Securities and Exchange Board of India).
Detailed Answer
Groww-
Groww is an online Stock Investment platform that allows its users to invest in Stocks, Mutual Funds, IPO’s, etc. It was founded in 2017 where it just allowed investors to invest in Mutual Finds but it launched its Stocks Investing recently in 2020.
Groww is a SEBI registered broker as every Stock Broker needs to be SEBI registered or get a Certificate of Registration (COR) from SEBI before proceeding with any kind of trading activity. No Stock Broker is allowed to participate in any trading activity without a valid COR from SEBI.
Hence Groww is a SEBI registered Stock Broker registered under the name of “NextBillion Technology Private Limited”.
Why it is important for Brokers to get registered?
As per Section 12 (1) of the Securities and Exchange Board of India Act 1992, No stockbroker will be allowed to buy, sell or deal in securities unless they work in accordance with the conditions of a certificate registration (COR) obtained from the Securities & Exchange Board of India (SEBI).
Therefore to conclude, yes!, Groww is a SEBI registered Stock Broker and there is no need for one to worry about the authenticity of Stock Brokers as every Stock Broker has to be mandatorily get approved by the SEBI before transacting in any securities on behalf of the Public or Institutions.
Ask Your Query for FREE, Get quick answers from our FINTRAKK community!
Discussion (0)
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.
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.
Yes, foreign nationals can invest in Indian mutual funds. They can either invest by direct route, which requires them to open a demat account, or by indirect route through Unit Confirmation Receipts (UCR).
Comparing the two stockbrokers to see which ones is the best can be a hurdle given that they both have so much to offer. However, if you want to know the broker, is that better? Then we have all the differences and comparisons listed below.
Mutual funds are regulated by SEBI ( Securities and Exchange Board of India). SEBI regulates mutual funds as 1996 Mutual fund regulation. SEBI is also the regulator for wider capital and securities market in India. SEBI was formed in 1988 as a statutory body and drives it powers from SEBI act 1992.
NRIs living in the United States can invest in Indian Mutual Funds, but there are some hassles that have to be overcome. You will require an NRE, NRO, or FCRN account in order to convert the foreign currency into Indian rupees, post which you can complete the KYC and begin investing in Indian Mutual Funds.
We all look to earn good returns on the money we invest. Putting money in High return investments is one way of generating better income. The different places to get good returns are mutual funds, equity, and gold investment in India.
In a way, there are a lot of similarities between Mutual Funds and Hedge Funds. In the both types of investments, a group of investors pool their money and invest in different type of securities. The main misconception about the funds is that people think that they are similar and the terms are interchangeable. In reality, they are not same and there is a very thin line between them.
There are plenty of direct mutual funds investment platforms such as Groww, Coin by Zerodha, Kuvera, and others. However, choosing the best would entirely depend upon your requirement and preference.
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.