This article is about the Groww App Review and how to use it to open an online Demat trading account. The simple steps you can take to invest and trade during the day, You can buy IPOs, invest in mutual funds by SIP or lump sum, and get answers to a few common questions about this app.
|Developed by||Groww – Stock Trading, Demat, Mutual Funds, SIP|
How to Use the Groww App
Groww App is an easy-to-use Mobile Trading App that is perfect for first-time investors who want to put their money in the stock market or mutual funds. It’s like the Robinhood App, but it’s for traders in India.
We all know that the only way to get rich is to invest in the right places so that our money grows on its own. With this simple stock trading app, you can trade stocks online from your phone in the easiest way possible. Even you can open a Demat account for free, without having to pay any fees.
This application doesn’t charge you anything for mutual funds, and it only charges you for stocks when you sell them. When you buy a stock, you don’t have to pay any other fees.
Users can even set automatic orders to buy or sell stock when a certain price limit is reached. They just recently added a way to trade in the most popular commodity (Which is Gold). Gold is a good investment because you can buy, hold, and sell it.
If you want to start investing in gold, you only need Rs. 10 to get started.
With Groww, you can open a Demat Trading account and start investing in all the Indian stocks on NSE and BSE as well as 5,000+ Direct mutual funds from your phone.
At the time this post was written, they did not charge anything to open an account. It is a free Demat and Zero AMC account, and there are no fees for direct funds.
You can even buy 24k Gold on the Internet.
Things that people will like-
- The whole process of opening an account is done online. Full Know Your Customer (KYC) will be done right from your phone. All you need is your Aadhaar Card, PAN Card, and a bank account that is still open.
- This app for trading stocks uses the same 128-bit SSL encryption that banks use to keep transactions safe.
- Serve as an app that tracks stock as well. This is available so that you can keep track of the prices of the stocks you like and buy them when the price goes down.
- You don’t have to pay any fees or hidden costs to put money into mutual funds.
- You can keep track of the outside money you bought from another account.
- The history of the company, its balance sheet, its profit and loss, its cash flow, and all the important ratios, charts, and graphs you need to make the right investment decision.
- Buy both National Stock Exchange and Bombay Stock Exchange-listed stocks. You can even directly apply for the IPOs.
How to Open Demat+Trading Account?
But in order to open an account, you need to have your Aadhar Card, PAN Card, and information about your bank account ready.
To open a Groww Demat Trading account, you must do the following:
- When you first open the app, you can sign up by entering an email or Using your Google Account to prove who you are.
- Click the “Complete Setup” button under the Stocks tab.
- Check the box that says “I agree” to go on. Click on the link that says “Open a stock account.”
- Type in your Occupation Sector, choose your income group, type in the names of your mother and father, and click “Next.”
- On the next screen, you have to choose your trading experience from a drop-down menu.
- Choose “No Experience” if you are just starting out or if that’s the case.
- Get a blank piece of plain white paper and write your name on it. Make sure your signature is completely visible.
- You can upload your signature by pressing the CAMERA button on the app’s screen.
- The next step is e-signing using Aadhaar. Make sure that your phone number is linked to your Aadhaar card. If it isn’t, you can’t open the account online.
- Follow the E-Verification Based on Aadhaar.
- After the Verification is done, you have to wait.
You have to wait for your documents to be processed before you can start investing. Most of the time, it takes at least 24 hours.
How to Invest in Groww App?
Groww App can be invested in by anyone who is 18 or older and has all the necessary paperwork to open an online Demat account.
At the moment, the investment app gives you three ways to make your money grow:
- Invest in Mutual Funds.
- Invest in Stocks.
- Invest in Gold.
How to Invest in Mutual Funds?
Groww lets you buy and invest in mutual funds without having to go through the KYC process.
Only when buying and selling stocks does KYC need to be done. But you need to sign up for an account.
On the main screen of the app, click the Mutual funds’ tab to buy stocks.
There, you can look for or choose the mutual funds in which you want to invest.
You can invest money in a lump sum or in a SIP. Users can set up automation so that the money will be transferred automatically from their bank account to their mutual funds.
How to Invest in Stocks?
You need a fully approved account to trade stocks and put money into them. As soon as your Trading account is approved, which will take at least 24 hours, you can start investing.
Of course, you’ll need to put money into your Groww account before you can buy shares from stock exchanges. Once you have enough money in your wallet, you can use it to buy shares and build your perfect portfolio.
How to Invest in Gold?
You can put as little as 10 Rupees into Gold. With this app, you can invest in gold without actually having to buy gold.
Here, you can buy and sell gold.
The simple rule is that you should buy gold when the price is low and sell it when the price goes up, depending on how much money you expect to make.
To invest in gold, just go to the Gold tab, tap on Augmont Digital Gold, and click on the invest button.
There, you have to put in the Price, which is how much you want to invest. You can also choose how many grams you want instead of the price.
Both buying and selling gold will be subject to the GST and other taxes.
How to do Intraday Trading in Groww App?
This app is mostly for people who are new to investing and want to do it in the easiest way possible. Anyone can invest money online without much trouble thanks to the interface.
It doesn’t mean that traders who trade every day to make money from intraday trading will be forgotten.
Yes, you can trade during the day with the app.
If you want to buy or sell shares for the day, you must choose Intraday from the Type dropdown menu on the Share buy Screen. The sale button can be used to do the same thing for short sales.
But if you are an intraday trader, the Web version of Groww. It is more useful for you than the mobile app.
How to buy IPO in Groww App
If you know how to do it, an IPO is one of the easiest ways to make money quickly on the stock market.
You can also apply for the IPO and bid right from the app on your phone.
To apply for an IPO on Groww:
- Startup the app, Scroll down in the stocks section until you see the heading for IPOs.
- There Tap the Initial Public Offering Card.
- On that screen, you can see all of the current, upcoming, and recently closed IPOs.
- All of the IPOs that you can apply for are listed under the heading “Open Now.”
- Click the “Apply” button to the right of the IPO you want.
- Choose the Bidding price, share, and other parameters, and then click Apply.
- You can choose “Bank account” or “Add money to wallet.”
- The amount will be put on hold in your account until you get your share.
If you were given a share, you can see it in the dashboard section.