How to Use Groww App? Would you like to invest in mutual funds or do you want to buy shares easily? Groww has the perfect solution for all of your problems! Using Groww, you can buy and sell stocks, mutual funds, etc. Groww has firmly established itself in the Indian investment market. The Bengaluru-based firm, founded in 2016, offers paperless investment options by providing online access to stock and mutual fund purchasing and selling options. This article provides detailed instructions on how to use Groww app, how to download Groww app, how to log into Groww, and whether Groww is safe to use.
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How to Use Groww App?
With Groww App’s trading software, investors can purchase mutual funds and invest in equities and gold. However, they initially started buying and selling mutual funds and eventually expanded into equities and gold. Read ahead to learn about how to download the app, register on the platform, and invest. Groww currently serves over 30 million investors in more than 800 cities.
How To Download Groww App?
Downloading the Groww app and opening an account to trade are necessary before you can begin investing in the various products offered by the app. The Groww website or official page can be used to open your account and make investments. The Groww app, however, is quite beneficial for those who are extremely busy and constantly on the go.
The Groww app will notify you constantly about the progress of your investments, so you are always aware of what you are investing even if you are busy traveling on business, or simply relaxing in a cafe sipping your coffee. The steps to get the app are as follows:
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1. The application must be downloaded from either the Apple App Store or Google Play Store. We are using the Google Play Store in this example.
2. In the search bar, type Groww and locate the Groww application.
3. The installation will begin after you click the Install button.
4. The app can be opened once the download has been completed.
What is the process for registering on Groww?
Once you have downloaded the app from the Google Play Store or Apple Store, you will need to register for the platform. In order to open an account and trade stocks on Groww, you will need to register both using the Groww mobile application and the Groww official page by providing your name and details. The following steps must be followed to register:
1. Go to the Groww website.
2. Enter your email address in the Login/Register section in the top right corner of the screen.
3. The OTP will be sent to the email address you provided. Click the Continue option.
4. Click on the Submit button after entering the OTP.
5. The next step is to enter your phone number for KYC validation. Once that has been completed, click the Proceed button.
6. Enter your PAN number in order to verify your identity.
7. Input the information regarding your bank account, including the IFSC code and account number.
8. Verify and confirm the bank information.
9. To learn more about how to use the Groww app, select the ‘Complete Setup’ option shown on the page.
How To Open Your Trading Account?
The next step after registering on the platform is to open a trading account. Without a trading account, you will not be able to purchase or sell securities. After you have registered, you will usually open an account almost immediately, right after you have confirmed your fees. The following instructions will guide you in opening your account once you have completed the registration process.
1. You can agree to the application fee details by checking the box.
2. Choose the ‘Open Stocks Account’ option to enable the Groww investment option for stocks.
3. You will need to enter your occupation, income, and the names of your parents before clicking Next to complete the KYC process.
4. By clicking Next, you will be able to select your trade background from the value list.
5. The signature should be written in dark ink on white paper, and then the photograph should be uploaded.
6. Using your Aadhaar number, you can register an account online.
7. You must enter the OTP that has been sent to the associated cellphone number.
8. Once you have read the instructions on the account opening form, click Sign Now.
9. You need to type your Aadhaar number into the NSDL E-sign platform and then select Send OTP.
10. After entering the OTP, complete the Groww login process to complete the account opening process.
A Groww account can be opened immediately once the AOF has been submitted electronically. The broker will verify the information you provided within a short period of time after receiving it. You will be able to start the account a few days later if you send the application by courier; however, it will take some time for the paperwork to get to the broker’s office, which may take some time.
You will see a notification on your home screen if your credentials have been verified. You will be able to begin buying stocks in 24 hours. You can also verify your KYC status using the Help & Support option on your account page.
If you would like more information on how to use Groww app, you can also call our Groww Helpline, set up a conversation with the Customer Care Team, or submit a ticket to our Customer Help & Support team.
Documentation required
If you wish to enroll in Groww for the first time, you may need to provide your PAN card as well as your Aadhaar number and passport to prove your identity and residence. Opening a Groww account is a paperless, online process. In order to unlock the stocks option on Groww, you will simply need to e-sign your Aadhaar number.
To complete the account opening procedure, a signed copy of the physical form must be submitted to the Groww office.
When you have downloaded Groww, registered and activated your trading account, you can begin using the app as per your preference. Among the main objectives of people opening an account with Groww is to trade stocks. The platform makes this process extremely simple and straightforward, as you won’t have to do a lot. Follow these steps:
1. Log in using your credentials using the app or the official website.
2. Take a look at the list of stocks that you should purchase.
3. You can select the stocks and enter the number of units that you would like to purchase.
4. You should ensure that you have sufficient credit in the linked bank account to cover the cost of the stock units.
The amount is debited from your account, and the shares are credited to your Demat account once confirmation is received from the seller’s side.
Can I trust the Groww app?
The safety of a brokerage platform is one of the most crucial factors in identifying the right platform. You may be concerned about whether or not Groww is safe. In my opinion, Groww is one of the safest online brokerages for Indian investors. Your investments or money on this platform will not be scammed or compromised anytime soon. There is no doubt that the developers of the app implemented a number of criteria to ensure that the application is being inspected as carefully as practically all of the top trading platforms currently available.
It is one of the most secure and safe trading tools available. It uses 128-bit encryption, which keeps the information of the users and their financial transactions secure.
A number of top-tier investors, including Combinator, Kauffman Fellows, Ribbit Capital, Sequoia Capital, Propel, and Kairos, have also been supportive of Groww App. Groww has been registered with SEBI as a Stock Broker and as a Depository Participant since its debut, and Next Billion Technology Private Limited participates in key stock exchanges including the MCX, NSE, BSE, and NCDEX.
The advantages and disadvantages
Taking a critical look at an application requires a full understanding of all its benefits and disadvantages. That is why we have outlined some of the pros and cons of Groww so that you can make an informed decision.
Advantages
- It has an easy-to-use user interface.
- You can open a trading account as well as a demat account in just a few steps. E-sign-up requires only the Aadhaar card.
- Stocks based in the United States are being developed for purchase by the company.
Disadvantages
- Currently, investors are only able to choose from a limited list of products.
- The products of commodities and derivatives are currently unavailable.
- It can be difficult to obtain customer service.
- It is only possible to contact the company by email.
- Since a thorough investigation of money is not possible, users face technical challenges when analyzing money.
You’ve now completed a comprehensive guide to learn how to use the Groww app for beginners. Groww offers an easy-to-use, attractive user interface and is a secure, safe, and convenient way to trade mutual funds and stocks. With its dynamic design and ongoing development, it is a dynamic application that will provide users with new interactive products and features as time goes on. With Groww, you will be able to begin your online investing journey, offering a variety of investment options, including shares, gold, US funds, stock funds, and derivatives.
This application is simple and easy to use. After you download the Groww app, you can open an account using your Aadhar number, and start trading within 24 hours. It is a great tool for tracking your investments and trading on the move.