Pradeep Bhakhar
As we are familiar that Zerodha is the market leader in this broking segment. But for the past some years, we are observing a boom in the broking industry. Groww was in the mutual fund industry but recently they also switched to the broking industry and provide you the buy-sell facility of shares.
Today we will discuss in detail every aspect and you will see Groww vs Zerodha Comparision. Many of us started our stock market journey by investing in mutual funds.
Mutual funds are safe investments compared to direct equity investments. So if you are having an account in Groww and you are confused that you should open a trading account in Zerodha or you should stick with your Groww account.
Groww vs Zerodha Comparision
We will have a deep conversation on Groww vs Zerodha Comparision, Brokerage, Margin, Charges.
If you want to compare directly between these two then it will be somehow difficult but we will try to normalize things. The main thing we will figure out will be what is more suitable for us.
Zerodha is India’s No. 1 stockbroker as we all know. They are the largest and most popular broker offering online flat fee discount brokerage services to invest in Equity, Currency, Commodity, IPO, and Direct Mutual Funds.
With Zerodha, the maximum brokerage you pay for any transaction is Rs 20 for an order (of any size, amount, or segment).
Groww is a Bangalore based broking firm offering online flat fee discount brokerage services. Groww helps you to invest in Equity, IPO, and Direct Mutual Funds.
Groww is the brand name for Nextbillion Technology Private Limited who is a SEBI registered stockbroker. NTPL is also a member of NSE and BSE.
Groww was established in 2016, Groww initially started as a direct mutual fund investment platform. But in 2020’s Groww expanded its product offering to include Equity trading.
Read More About – Best Broker for Stocks in India 2023
So here we will discuss some points about their brokerage plans, margins, charges, maintenance, and customer care service.
The technology they both are using is up to date they work on the best platform to perform and work beyond the broking terminal.
Zerodha Vs Groww Charges
| Particulars | Zerodha | Groww |
|---|---|---|
| Helps trade-in | Stocks, Equity F&O, Currency F&O and Commodity F&O Bonds and Govt-Securities | Stocks, Equity ,Mutual funds and Debt Funds, IPO |
Above you can see which things are more suitable for you to have an account but when we try to compare these in the brokerage and margin criteria, things are a lot different.
| Brokerage Charges | Details for Zerodha Plan | Details for Groww Plan |
|---|---|---|
| Equity delivery | Rs. 0 | Rs 20 per executed order or .05% whichever is lower |
| Equity Intraday | Rs 20 per executed order or .03% whichever is lower | Rs 20 per executed order or .05% whichever is lower |
| Equity Futures Brokerage | Rs 20 per executed order | NA |
| Equity Options Brokerage | Rs 20 per executed order | NA |
| Currency/ Commodity Futures | Rs 20 per executed order | NA |
| Margin for Intraday | Up to 15X | Up to 20X |
| Account opening charges | Charges for Demat & Trading account is clubbed – Rs. 300 | Rs. 0 |
| Demat AMC Fees | Rs. 300 | Rs. 0 |
| Special Offer Account open link |
Zerodha Vs Groww Transaction Charges
Zerodha services and charges are mentioned above but now we will dig down deep about their transaction charges. How they are different from the competition. As everyone trades in their trading account so interesting thing will be who is a winner in transaction charges.
Zerodha vs Groww are giving tough fight but the charges are somehow very important for a day trader.
| Zerodha | Groww | |
|---|---|---|
| Equity Delivery | NSE Rs 345 per Cr (0.00345%) | BSE Rs 300 per Cr (0.003%) (each side) | NSE Rs 325 per Cr (0.00325%) | BSE Rs 300 per Cr (0.003%) (each side) |
| Equity Intraday | NSE Rs 345 per Cr (0.00345%) | BSE Rs 300 per Cr (0.003%) (each side) | NSE Rs 325 per Cr (0.00325%) | BSE Rs 300 per Cr (0.003%) (each side) |
| Equity Futures | NSE Rs 200 per Cr (0.002%) | NA |
| Equity Options | NSE Rs 5300 per Cr (0.053%) (on premium) | NA |
| Currency Futures | NSE Rs 90 per Cr (0.0009%) | BSE Rs 22 per Cr (0.00022%) | NA |
| Currency Options | NSE Rs 3500 per Cr (0.035%) | BSE Rs 100 per Cr (0.001%) (on premium) | NA |
| Commodity | Group A – Rs 260 per Cr (0.0026%) | NA |
Zerodha Vs Groww Margin
For retail people the only thing needs in the market is the margin. If your broker is giving you a good margin then you can expect good returns in the stock market.
With small capital also you will be able to trade a large amount of shares. These profitable trades give you new hope.
| Zerodha | Groww | |
|---|---|---|
| Equity Delivery | 1x (no margin) | 1x (no margin) |
| Equity Intraday | Up to 20x (based on the stock) | Up to 8x (based on the stock) |
| Equity Futures | Intraday – 40%(2.5x), Carry forward – 100%(1x) of Total margin (Span+ Exposure) | NA |
| Equity Options | Intraday – 40%(2.5x), Carry forward – 100%(1x) of Total margin (Span+ Exposure) | NA |
| Currency Futures | Intraday – 40%(2.5x), Carry forward – 100%(1x) of Total margin (Span+ Exposure) | NA |
| Currency Options | Intraday – 40%(2.5x), Carry forward – 100%(1x) of Total margin (Span+ Exposure) | NA |
| Commodity Futures | Intraday – 40%(2.5x), Carry forward – 100%(1x) of Span | NA |
| Commodity Options | NA |
Comparision Zerodha and Groww Features
As when we talk about features in Zerodha vs Groww then you will see a massive gap here. After analysis of given below table. Many things you will see in the Groww app that are not in kite app of Zerodha.
If you are a pro trader then Groww is not for you. But for beginners, it can be suitable as they are charging less.
| Features | Zerodha | Groww |
|---|---|---|
| 3 in 1 Account | ☒ | ☒ |
| Charting | ☑ | ☑ |
| Automated Trading | ☑ | ☒ |
| SMS Alerts | ☒ | ☑ |
| Online Demo | ☑ | ☑ |
| Online Portfolio | ☒ | ☑ |
| Margin Trading Funding Available | ☒ | ☒ |
| Margin Against Shares (Equity Cash) | ☑ | ☒ |
| Margin Against Shares (Equity F&O) | ☑ | ☒ |
| Trading Platform | Kite Web, Kite Mobile for Android/iOS and Coin | Groww |
| Intraday Square-off Time | Eq Cash: 3:15 PM Eq F&O : 3:25 PM Currency: 4:45 PM Commodities: 25 min before close | 3:10 PM |
| Other Features | Direct Mutual Funds, APIs for Algo Trading | |
| Referral Program | ☑ | ☒ |
Zerodha even provides a referral system. But Groww is still apart from this. They do not provide such things.
Zerodha Vs Groww – Pros and Cons
Now after analyzing a lot of things we will see Zerodha Vs Groww – Pros and Cons that will help us to analyze thing in a better way so that thing becomes more clear.
Zerodha Pros-
- They provide us free equity delivery trades. In that no brokerage charges for Cash-N-Carry orders.
- They have excellent trading platforms (Kite) available for free which is on desktop as well as mobile.
- They charge you simple flat fee brokerage services across segments and exchanges (BSE, NSE, MCX).
- Their brokerage is 0.03% or Rs 20 per executed order, whichever is lower for Intraday, F&O, and Currency Derivatives. Unlike all other brokers no hidden charges.
- If you want direct Mutual Fund Investment that features also available.
- Over 10 lakha+ active customers and 10% of daily volume at BSE, NSE, and MCX.
- Zerodha’s Referral Program offers a 10% brokerage share to you whenever you refer any clients.
- Their unique feature is Good Till Triggered (GTT) orders are available. These are more or less similar to GTC orders.
Groww Pros-
- Groww has a simple pricing model with low-cost trading charges.
- You can go with free Mutual Fund investments with no hidden charges.
- They offer you zero Account opening fees.
- Groww has zero Maintenance Charges.
- If you go with a direct MF platform that helps you earn an extra 1.5% returns.
- Groww provides you E-books, Resources, and Blogs that provide you basics and updates on the stock market to help investors make an informed decision.
- You can get instant paperless account opening.
- If you are interested in the primary market then you can also apply online IPO application.
- They provide an in-app Brokerage Calculator
- They also provide you facility to invest online in digital gold and US Stocks.
- On other services like F&O like segment, they are working on it.
Now after discussing a lot of pros, we should focus on the cons side also so that we get the best review of Groww vs Zerodha Comparision.
Zerodha Cons-
- Zerodha doesn’t provide stock tips, research reports, or recommendations like full-service brokers.
- If you want to access Call & Trade facility then you will be charged an extra Rs 50 order.
- If you don’t close your intraday position till 3:20 then auto Square off is charged an extra Rs 50 order.
- You will not be offered a 3-in-1 account.
- They don’t have any unlimited trading plans.
- They charges you for the AMC Demat account.
Groww Cons-
- They are not providing Limited investment products with no option to currently trade in derivatives (futures & options), commodity, and currency segment.
- You cannot get here Call and Trade services.
- They are not having any branches in India so branch supports not available.
- Like Zerodha they also not provide stock tips, research reports, or recommendations.
- They do not have MTF (Margin trading facility).
- You cannot pledge your shares. They provide no margin against shares.
- Advanced type orders like BO, CO, AMO, and GTT not available.
- In Groww trailing stop-loss orders are not available in the Groww app.
- They do not offer NRI Trading.
Q1: Can multiple Demat accounts be linked to the 3-in-1 account?
Ans: Yes, you can link multiple Demat accounts to a 3-in-1 account with a maximum of 4 accounts.
Q2: What type of bank account can I use to open a Demat account?
Ans: You will need an ordinary savings account or current account. Then you can open a seamlessly Demat account with any broking firm.
Final Words-
Groww and Zerodha are both are online discount brokers offering low-cost brokerage services to clients.
Groww was established as a direct mutual fund platform. But now they are expanding it more in the equity market. They are offering to other areas like Stocks, Gold, US Stocks, and Fixed Deposits.
Groww offers free account opening with zero maintenance charges that make them different from their competition.
Zerodha is India’s No.1 stockbroker offering services to invest in Equity, Currency, Commodity, IPO, and Direct Mutual Funds. Zerodha offers brokerage-free Equity delivery trading. But they charge you for intraday.
After a long discussion, we can conclude all this like if you are more like a trader then you should prefer Zerodha but if you are an investor you can go with Zerodha also.
