A decade ago, investing in stocks required frequent trips to the broker’s office, countless phone conversations, and extensive paperwork management. Nowadays, all it takes is tapping your smartphone’s screen, courtesy of apps like Groww and Zerodha.
But which one is the best for Internet stock trading? Let’s examine each comparison in more detail.
The Indian stock trading industry’s titans, Zerodha and Groww, have entirely changed how Indians make investments. Both offer a variety of features and user-friendly platforms thus each has advantages.
Choosing the best stock broker can be difficult if you’ve never invested in the stock market. Numerous things must be considered, such as investment products, fees and charges, user experience, customer service, and security. This guide will help you compare Groww and Zerodha, two well-known stock brokers in India.
An Overview of Zerodha and Groww
Zerodha
Overview
Nithin Kamath founded Zerodha in 2010, and since then, it has become the biggest discount broker in India, known for its cutting-edge platforms and affordable trading services. Numerous investing alternatives are available on Zerodha, such as mutual funds, derivatives, equities, commodities, and currencies.
Zerodha serves the demands of both aggressive traders and long-term investors with its flagship trading platform, Kite, and additional powerful tools like Coin for mutual fund investing. See a full review of Zerodha to gain additional helpful knowledge.
Groww
Overview
Founded in 2016 by Ishan Bansal, Lalit Keshre, Harsh Jain, and Neeraj Singh, Groww became known as an easy-to-use investing platform that first offered mutual funds. Over time, Groww expanded its product offering to include digital gold, stocks, and more.
Groww strives to democratize investing and make it accessible to a wide variety of users, especially beginners, with its user-friendly interface, educational materials, and goal-based investing strategy.
A Comparison between Zerodha and Groww Across Key Parameters
Let’s now compare Zerodha and Groww more closely based on many criteria:
Investment Options
Zerodha provides a broader selection of investment possibilities, such as commodities, currencies, and derivatives, to meet the needs of both experienced traders and investors. Groww, on the other hand, is best suited for individuals seeking a more straightforward investing experience because it concentrates mostly on direct equities, mutual funds, exchange-traded funds (ETFs), and initial public offerings.
Brokerage Charges
Zerodha charges INR 20 or 0.03%, whichever is lower, for stock intraday, F&O, commodity, and currency trading on the NSE, BSE, and MCX. There are no upfront brokerage or turnover commitments for your deal. The maximum brokerage fee is INR 20 per executable order. Equity delivery trading incurs no brokerage fees.
Groww Brokerage Plan Details—A flat brokerage plan that charges INR 20 per order for intraday trading while providing free delivery trading.
Account Features
Zerodha Account Features:
- Trading Accounts: Equity Trading Account, Commodity Trading Account, Currency Trading Account
- Mutual Fund Investment Account
- Demat Account
- Multiple Bank Integration
- Advanced Charts and Technical Analysis Tools
- Watchlists and Price Alerts
- Research and Advisory Services
- Mobile Trading Apps (Kite and Kite Web)
Groww Account Features:
- Trading Account for Stocks
- Demat Account
- Mutual Fund Investment Account
- Simple and User-friendly Interface
- Watchlists and Price Alerts
- Basic Charts and Technical Analysis Tools
- Goal-based Investment Planning
- Video Guides and Educational Resources
- Mobile App (Android and iOS)
With its comprehensive charting tools, technical analysis skills, research and advisory services, and other features, Zerodha’s account features target experienced traders and investors. Conversely, Groww emphasizes ease of use and simplicity, featuring a clear interface, goal-based investment planning, and beginner-friendly training materials.
Both systems include mobile trading apps. Groww’s app offers a more fluid and user-friendly experience, while Zerodha’s Kite and Kite Web apps are more feature-rich and ideal for active traders.
Generally, Groww’s features are geared towards novices and those searching for a simplified investing experience with instructional resources. In contrast, Zerodha’s account features are catered to seasoned traders and investors wanting sophisticated tools and a variety of investment possibilities.
Trading and Demat Account Opening Charges
Here’s a comparison between Zerodha and Groww in terms of trading and demat account opening charges:
Zerodha Account Opening Charges
Trading Account:
- Equity/Commodity/Currency: No account opening charges
Demat Account:
- Basic Services Demat Account (BSDA): No account opening charges
- Regular Demat Account: INR 300 + GST as one-time account opening charges
Groww Account Opening Charges:
Trading Account:
- No account opening charges
Demat Account:
- No account opening charges
The lack of account opening fees for trading accounts offered by Groww and Zerodha makes it simple for traders and investors to get started on their respective platforms.
For this sort of account, which has no restrictions on holdings or transactions, Zerodha levies an initial demat account opening cost of INR 300 + GST.
However, Groww offers Demat accounts without any account opening fees, which makes it a more affordable choice for people who want to open a Demat account for the first time or who have smaller investment portfolios.
Groww has a small advantage over Zerodha regarding account opening fees because Groww doesn’t charge any fees to open trading or Demat accounts. In contrast, Zerodha charges a one-time fee to open a normal Demat account.
Platform Interface and User Experience
Here’s a comparison between Zerodha and Groww in terms of platform interface and user experience:
Zerodha Platform Interface and User Experience
- Trading Platforms: Kite (web and mobile), Kite Web, Coin (for Mutual Funds)
- Interface: Advanced and feature-rich, designed for experienced traders and investors
- Charts and Technical Analysis: Extensive charting tools, technical indicators, and analysis capabilities
- Order Types: Wide range of order types, including bracket orders, cover orders, and more
- Research and Advisory: Comprehensive research and advisory services, including market insights, stock recommendations, and more
- Customization: Highly customizable interface, watchlists, and workspace layouts
Groww Platform Interface and User Experience
- Trading Platform: Web and mobile app
- Interface: Simple, clean, and user-friendly, designed for beginners and casual investors
- Charts and Technical Analysis: Basic charting capabilities and technical indicators
- Order Types: Straightforward order types, suitable for basic trading and investing
- Educational Resources: Video guides, investment calculators, and educational content for beginners
- Goal-based Investing: Ability to set investment goals and track progress
- Simplified Processes: Streamlined account opening, fund transfers, and investment processes
The Zerodha platform interface is designed with advanced traders and investors in mind. It offers abundant features, a comprehensive range of charting and technical analysis tools, and many order types and customization possibilities. This meets the needs of seasoned traders and those who want a more thorough and personalized trading experience.
However, Groww’s platform interface prioritizes usability and simplicity, making it more approachable for novice and part-time investors. With simple order types and rudimentary charting tools, the interface is clear and easy to use. Groww is a compelling option for individuals new to investing or who want a more straightforward investing experience because it provides educational materials, goal-based investing tools, and streamlined procedures.
The investor’s experience level, trading preferences, and desired level of platform complexity will ultimately determine which of the two platforms they choose.
Customer Support
Zerodha Customer Support
Support Channels
- Phone Support: Available during market hours
- Email Support
- Live Chat Support
- Dedicated Relationship Managers for high-value clients
Knowledge Base
- Extensive library of articles, FAQs, and video tutorials covering various topics
Community Forum
- Active community forum where users can discuss and seek support from other traders
Social Media Presence
- Active on platforms like Twitter, responding to queries and concerns
Offline Support
- Physical branch offices in major cities across India
Groww Customer Support
Support Channels
- Phone Support: Available during limited hours
- Email support
- In-app chat support
Knowledge Base
- Collection of FAQs and educational articles
Social Media Presence
- Active on platforms like X (formerly Twitter), responding to queries and concerns
Chatbot
- AI-powered chatbot for basic queries and assistance
Zerodha and Groww provide many customer service methods, including chat, email, and phone assistance. With specialized relationship managers for valuable customers, a vibrant community forum, and real branch offices in India’s major cities, Zerodha’s customer service appears to be more extensive.
For self-service help and information, Zerodha’s vast knowledge base, which includes articles, FAQs, and video tutorials, might be a helpful resource. Furthermore, their frequent participation on social media sites like Twitter facilitates quick responses to questions and concerns.
Conversely, Groww offers phone help within limited hours and has a more constrained knowledge base. However, for simple questions and guidance, they have implemented an AI-powered chatbot, which can be useful for prompt and practical support.
All things considered, Zerodha seems to offer a more complete and reliable customer service network, making it a better fit for active traders and investors who might need more specialized help. Although sufficient, Groww’s customer service might be better suited for infrequent investors or those with simpler assistance requirements.
Read More: Best Demat Account
Which One is Better for You?
The choice between Groww and Zerodha ultimately comes down to your trading style, experience level, investment objectives, and the kinds of goods and services you need. Below is a summary of the things to think about:
Investment Goals
- Groww’s straightforward and user-friendly platform may be a better choice if you’re a long-term investor focusing mostly on stocks and mutual funds.
- The extensive range of products offered by Zerodha might be more appropriate for active traders interested in commodities, currencies, derivatives, and more sophisticated trading techniques.
Experience Level
- Groww’s uncluttered UI, educational materials, and goal-based investing tools might appeal to novices and infrequent investors and make them easier to use.
- Zerodha’s feature-rich platforms may be more appealing to seasoned traders and investors who need sophisticated charting tools, technical analysis skills, and customization options.
Trading Frequency
- Groww’s zero brokerage structure for delivery trades and mutual funds may be more affordable for individuals who trade infrequently or make sporadic investments.
- Zerodha offers competitive brokerage charges, particularly for intraday and derivative trades, which may benefit active traders with larger trading volumes.
Product Offerings
- Zerodha’s wide range of offers might be a better option if you’re interested in investing in various investment goods, such as derivatives, currencies, and commodities.
Customer Support
- Those looking for individualized help or in-person encounters may find Zerodha’s robust customer support system, which includes committed relationship managers, actual branch offices, and an active community forum, beneficial.
- Groww’s customer service is good, however it might be better suited for infrequent investors who only require minimal assistance.
Groww is ultimately a desirable option for individuals new to investing or looking for a basic investing experience because of its simplicity and beginner-friendly approach. However, sophisticated features, a wide range of products, and round-the-clock customer service make Zerodha a better choice for seasoned traders and investors with complicated requirements.
Assessing your unique needs, risk tolerance, and investing preferences is imperative to ascertaining which platform best suits your objectives and trading style.
Frequently Asked Questions (FAQs)
Can I trade in derivatives and currencies on Groww?
Groww does not currently offer trading in derivatives, currencies, or commodities. Its product offerings are focused on stocks, mutual funds, ETFs, and initial public offerings (IPOs). If you’re interested in trading derivatives, currencies, or commodities, Zerodha would be a better choice as it provides trading platforms and accounts for these asset classes.
Does Zerodha charge any annual maintenance fees for Demat accounts?
Yes, Zerodha charges annual maintenance fees for its regular demat accounts, which are INR 300 + GST. However, Zerodha also offers a basic services demat account (BSDA) with no annual maintenance charges. Still, it comes with certain limitations on the number of transactions and value of holdings.
How do the mobile trading apps of Zerodha and Groww compare?
Zerodha’s mobile trading apps, Kite and Kite Web, are designed for active traders and are packed with advanced features, charting tools, and customization options. They cater well to experienced traders who require a comprehensive and feature-rich trading experience.
