How to Use Groww App?
How to Use Groww App?
Groww App is a trading software but they started buying and selling mutual funds and with time they expanded into equities and gold as well. Groww currently serves investors in more than 800 cities and has over 30 million registered members. Read ahead to learn more about how to download the app, register in it and how you can invest in the platform.
How To Download Groww App?
To start investing in various products that are offered by the Groww app, you need to first download the application and open an account for trading. You can use the website or official page to start your account and also make investments. But, if you are constantly busy and always running around, then using the Groww app is quite beneficial for you. You will get constant notifications and can be aware of your investments even while you are busy traveling, or simply sitting in a cafe sipping coffee. Here are the steps that you need to follow to download the Groww app:
How To Register On The Groww App?
After you have downloaded the App from the Google Play Store or Apple Store, you need to register yourself with the platform. You can use both your mobile application and the official page of Groww to register your name and details only after which you will be allowed to open an account and trade stocks. Here are the steps that you need to follow to register on Groww:
How To Open Your Trading Account?
After you have registered on the platform, next you need to open a trading account. Without a trading account, you cannot buy or sell stocks. Opening an account usually follows the registration almost immediately, right after you confirm the fees that you will have to pay. Here are the steps to follow for opening your account after you have completed setting up your account.
Required Documentation
Opening a Groww account is a paperless, online process. PAN cards and passports as well as Aadhaar cards and passports may be requested if you are enrolling in Groww for the very first time to prove your identity and residence. However, you simply need to e-sign using your Aadhaar number if you want to unlock the stocks option on Groww. You will be required to send a signed copy of the physical form to the Groww office to complete the account opening procedure if your mobile phone and Aadhaar number are not linked.
How to Invest in Shares using Groww App?
After you have downloaded the app and registered and activated your trading account, you can use the services of the Groww app as per your need. One of the major objectives why people want to open an account with Groww is to trade stocks. The platform makes it super easy and hassle-free, as you will not have to do much. Here are the steps to follow:
Is The Groww App Safe?
Now, let’s talk about one of the most crucial factors in recognizing a good brokerage platform. The safety! You may want to know whether the Groww app is safe or not. Without any doubt, Groww can easily be categorized as one of the safest online brokerages for Indian investors. Money or any other investments made on this platform won’t be scammed or quickly compromised. The app’s developers undoubtedly implemented several criteria that provide the application with safety inspection similar to practically all the top trading platforms available. It is a trading tool that has successfully established a strong level of encryption and is entirely safe and secure. This platform uses 128-bit encryption, which helps the app safeguard user information and financial transactions. Several top-tier investors, including Combinator, Kauffman Fellows, Ribbit Capital, Sequoia, Propel, and Kairos, have also given Groww App their confidence and support. Since its debut, Next Billion Technology Private Limited has registered Groww as an app with SEBI as a Stock Broker and a Depository Participant. Additionally, it participates in important stock markets like the MCX, NSE, BSE, and NCDEX.
Pros And Cons
It is important to understand all sides of an app before taking a call on it. It is the reason why we are bringing some pros and cons of Groww app for you. These will help you analyze the app and understand its features and shortcomings.
Pros
The user interface is easy to use. It is quick and simple to open a trading and Demat account. For e-sign-up, only the Aadhaar Card is required. They are developing the possibility of purchasing US-based stocks.
Cons
A limited list of products is available to investors. Commodities and derivatives are presently unavailable products. Getting customer service can be challenging. There are no other amenities besides email for contact. Users have technical challenges when analyzing money because there is no possibility for a thorough investigation.
So, there you go! A complete guide for beginners to understand how to use the Groww app. Groww is an easy-to-use, appealing user interface, and is a secure and safe platform for trading in mutual funds and stocks. It is a dynamic application that will keep gaining new interactive products and functionality. You can begin your online investing journey with Groww and its variety of asset classes, including shares, gold, US funds, stock funds, derivatives, and fixed deposit accounts. It is super easy to use the application. You can easily open your account after you complete the Groww app download, using just the Aadhar number and easy KYC steps, and start trading within 24 hours. It is a great app to track your investments and trade on the go.
