Is Opening a Demat and Trading Account Safe with Groww?
- Asked By
- Updated On:04-Nov-2020
- Replies:4
Short Answer
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.
Detailed Answer
Groww has established itself quite well that too at a fast pace. Expanding its horizon from direct mutual fund investing to the stock trading part, it has gained a lot of attraction over the years.
Not only this, opening a trading and demat account has become easy and effortless with stock brokers like Groww offering quicker alternatives. Groww offers a two in one account opening process and trades can be carried out either through the web or through its mobile application.
The platform offers advice and complete information on risky products with a plethora of advice on finance and technology. The platform uses next-gen technology to keep all the data and data safe and secure free from any type of damages.
SEBI is the regulatory authority protecting the interest of investors and traders. So, you don't have to worry of it! As an investor or trader if you open a trading and demat account with licensed stock brokers, your interest is safeguarded by the apex regulating body.
Groww Mutual Fund and Stock Investing App is quite a popular among investors looking to put their money in stocks and mutual funds. Initially, only the mutual fund investing was offered, but now the Stocks portion is also fully live on this tech-driven application.
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Discussion (3)
Groww is surpassing milestones in harboring more users than what it has projected. The platform sis quite great as it implies the latest technological software and encryption codes to keep accounts and transactions safe and secure. Try it out as it will not disappoint.
It takes some time for any company or broker for that matter to build credibility and reliability amongst users. Groww is relatively very new in stock broking. It will take time to establish a name in the said field. So, one should thoroughly research and not hurry up in opening a demat and trading account. In fact, when a platform is new it does take considerable time for it to stabilize and accommodate any incoming users. While the existing trading platforms like Zerodha already offer a robust and stable portal for one's trading requirements.
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.
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.
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.
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.
If you're looking for a straightforward and comprehensive take on options trading, then Sensibull should do the job perfectly. However, if you're and expert and want more complex trading tools, then Opstra is the one to choose.
To open a Paytm Demat Account you do not need to make a lot of efforts. You can simply do it online which spares you from standing in a long waiting queue in the branch of the broker house. These days online and offline account opening has become all the more easy.
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.
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.
To login Zerodha Kite, you have to enter your Login ID and password. Before that, you must have a demat and trading account with Zerodha to have complete access to its stock trading platform.
Although everything the Stock broker offers is fantastic, there are a few downfalls of using Groww. These include the exception of trading in the commodity segment, doesn’t have a savings account in 2-in1 accounts that it offers, popular financial tools such as cover orders bracket order aren’t available, and more.
Harshil Patel
Groww is a very good platform for trading. From my experience I can say that, the process to open a demat and trading account is very easy and straightforward and it is reliable at the same time.