Which is better Zerodha Or Groww? Let’s discuss the similarities & differences between these two discount brokers and make the best choice.
Having a Demat account is becoming as normal as having a bank account if you are a millennial.
Everybody is aware of high inflation and low bank rates thanks to youtube, social media, and influencers.
Keeping money in banks is no more a wise decision.
2022 was a record year for the number of Demat accounts opened.
One thing is very clear investing in equities or stocks is no more an option, you have to if you want to preserve your wealth.
Number of options available to open a Demat account and it becomes very confusing what to choose for a beginner.
At the start of your investing journey, it’s better to go with discount brokers.
The process is very easy and you can register and start investing in a few minutes.
The UI of these platforms is very easy to use and user-friendly.
2 discount brokers at the forefront are Zerodha & Groww.
In this article, we will discuss which is better Zerodha or Groww for new investors.
Zerodha
Zerodha is the first and the #1 discount broker in India.
Zerodha has the largest client base of 7.5 million active users.
Established: 2010
Founder: Nithin Kamath & Nikhil Kamath
Client Base: +7.5 M
Services Offered: Equity, Currency, Commodity, IPO, and Direct Mutual Funds
Groww
Groww is a well-known brand in direct mutual fund investing.
Lately, it started offering equity investment platforms for India and US.
Established: 2016
Founder: Lalit Keshre
Client Base: +20 M
Services Offered: Equity, Direct Mutual Funds, Digital gold, US Stocks, and Fixed Deposit
Which is Better Zerodha or Groww?
Zerodha Vs Groww Investment Options
| Zerodha | Groww | |
|---|---|---|
| Equity | Yes | Yes |
| US Equity | No | Yes |
| Commodity Trading | Yes | No |
| ETFs | Yes | Yes |
| Mutual Funds | Yes | Yes |
| Bonds | No | No |
| Corporate Debt instruments | No | No |
| Open Zerodha Account | Open Groww Account |
Zerodha Vs Groww Features
| Zerodha | Groww | |
|---|---|---|
| Platforms | Kite, Pi, NEST, Coin | Groww Web , Groww Mobile |
| Trading Alerts | Yes | Yes |
| Education Initiatives | Yes | No |
| Margin Against Shares (Equity Cash) | Yes | No |
| Margin Against Shares (Equity F&O) | Yes | No |
| Uniqueness | APIs | One platform for stocks, MFs, Gold, IPOs, ETFs |
| Open Zerodha Account | Open Groww Account |
Zerodha Vs Groww Charges
| Zerodha | Groww | |
|---|---|---|
| Account Opening | ₹200 | ₹0 |
| Annual Maintenance Charges | ₹300 | ₹0 |
| Open Zerodha Account | Open Groww Account |
Zerodha Vs Groww Brokerages
| Zerodha | Groww | |
|---|---|---|
| Equity Delivery | ₹20 per executed order or 0.05% of order value | ₹0 |
| Equity Intraday | ₹20 per executed order or 0.05% of order value | ₹20 per executed order or .03% whichever is lower |
| Equity Future | ₹20 per executed order or .03% whichever is lower | ₹20 per Trade |
| Equity Options | ₹20 per executed order | ₹20 per Trade |
| Currency Futures | ₹20 per executed order or .03% whichever is lower | Not Available |
| Currency Options | ₹20 per executed order or .03% whichever is lower | Not Available |
| Commodity Futures | ₹20 per executed order or .03% whichever is lower | Not Available |
| Commodity Options | ₹20 per executed order or .03% whichever is lower | Not Available |
| Open Zerodha Account | Open Groww Account |
Zerodha Vs Groww Transaction Charges
| Zerodha | Groww | |
|---|---|---|
| Equity Delivery | NSE ₹325/Cr. (0.00325%) | BSE ₹300/ Cr. (0.003%) | NSE ₹345/Cr. | BSE ₹345/Cr. |
| Equity Intraday | NSE ₹325/Cr. (0.00325%) | BSE ₹300/ Cr. (0.003%) | NSE ₹345/Cr. | BSE ₹345/Cr. |
| Equity Future | NSE ₹190/Cr. (0.0019%) | NSE: 0.0019% | BSE 0.003% |
| Equity Options | NSE ₹5000/Cr (0.05%) | NSE: 0.0019% | BSE 0.003% |
| Currency Futures | NSE ₹90/Cr. (0.0009%) | BSE ₹22/Cr. (0.00022%) | Not Available |
| Currency Options | NSE ₹3500/Cr (0.035%) | BSE ₹100/Cr (0.001%) | Not Available |
| Commodity | ₹260/Cr. (0.0026%) | Not Available |
| Open Zerodha Account | Open Groww Account |
Zerodha Vs Groww Leverage
| Zerodha | Groww | |
|---|---|---|
| Equity Delivery | no margin | 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) | Not Available |
| Equity Options | Intraday - 40%(2.5x), Carry forward - 100%(1x) of Total margin (Span+ Exposure) | Not Available |
| Currency Futures | Intraday - 40%(2.5x), Carry forward - 100%(1x) of Total margin (Span+ Exposure) | Not Available |
| Currency Options | Intraday - 40%(2.5x), Carry forward - 100%(1x) of Total margin (Span+ Exposure) | Not Available |
| Commodity Futures | Intraday - 40%(2.5x), Carry forward - 100%(1x) of Span | Not Available |
| Commodity Options | Not Available | Not Available |
| Open Zerodha Account | Open Groww Account |
Conclusion
You now know the features and charges of both the discount brokers.
To answer which is better Zerodha or Groww you need to look at a few other aspects as well.
I have interacted with people who prefer one over the other because of some other reasons.
I use both the platforms, for stock investing Zerodha, and for mutual funds Groww.
They both are best in their own niche.
Zerodha has different platforms for stock investing and mutual funds.
Whereas in Groww everything at one platform.
Now you have to decide which suits you the best.
Frequently Asked Questions
Is Groww good for stocks?
It is not bad at all. You can easily invest in Indian as well as US stock markets
Is Groww app good for mutual funds?
Groww is one of the first and best mutual fund investment platforms available in India. It is something like Zerodha in stock investing. Groww also offers other investment options like Equity, Fixed Deposits, Gold, etc.
Will Groww charge AMC in the future?
Currently, it does not ask for any annual maintenance charge. Nobody knows about the future though.
Is Groww an AMC?
No. Groww is not an asset management company but a platform through which you can invest in the mutual funds of different AMCs.
Is Groww better than Zerodha?
No doubt Groww is one of the best platforms in mutual fund and stock investing however when you compare it with Zerodha it becomes subjective.
Groww provides multiple investment options in one platform and Zerodha has very specialized different platforms for different types of investments.
Is the Groww app safe?
Yes, it is completely safe. All your Equity transactions are direct with NSE and BSE, and mutual funds transactions are with AMCs. Groww is just a platform to facilitate this transaction easily.
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