Groww which is one of the apps to invest in Stocks and Mutual Funds. Till now Groww has been downloaded more than 10 million times by Play Store. Groww app is considered to be the best app for investing. But Advantages and disadvantages of Groww about which a new user does not know at all, so if you are going to use Groww then you should know the pros and cons of Groww app. let’s know more about the advantages and disadvantages of Groww.
Advantages and Disadvantages of Groww: Advantages of Groww
Groww has some such advantages due to which it has become a famous investing app in today’s time. Its marketing team has tried to explain the benefits of its app to the people in a very good way. So let us tell you some advantages of Groww on the basis of real use.
Easy to activate account, simple interface and use
The post about advantages and disadvantages of Groww, Activating the account of Groww app is very easy, you do not need to hustle much in this. Also, Groww’s demat account is very simple and does not have many options. Because of which a beginner investor does not get bothered by looking at many options.
Let us also tell you that using Groww is also very easy, due to its easy interface. In the present times, only and only two options are available in Groww, first to invest in mutual funds and second stock.
Valuable information and insights
Before investing in a stock or mutual fund, the investor needs the insights of that stock or mutual fund and some important information so that he can get an idea of how good his investment can be.
There will be no need to search for that valuable information and insights online if you use Groww. In Groww, users can easily get valuable information and insights about every stock and mutual fund. The first advantage of Groww is that here the user gets insights and valuable information at one place. let’s know more about the advantages and disadvantages of Groww.
Groww was started in 2016. It started as a direct mutual fund platform. But after that many features were added to Groww and this company kept increasing its trust with the user and in today’s time Groww has become a trusted platform. Since the beginning of 2016 of Groww, till now no dangerous news of any kind has come out.
Many investors prefer to invest in IPO because more profit is expected in IPO. There are chances of more profit and more loss in IPO but still it is one of the most preferred option for investors. The advantage of the Groww app is that there is an option to invest in every IPO. Let us tell you that a few months before the arrival of the IPO, the information about it starts updating in Groww and as soon as the IPO arrives, you can take the IPO and earn profit from it.
USA stock option
All the big and international companies like Google, Apple, Microsoft, Tesla etc. are all USA companies and investors expect to get higher returns by investing in such companies.
But investing in a USA company is not so easy if you do not use the Groww app. So the next advantage of Groww is that it gives the option to invest in USA stocks sitting from India. Let us tell you that you do not need to buy the entire 1 share of any company in the USA, you can also buy some part of that one share. let’s know more about the advantages and disadvantages of Groww.
Sovereign Gold Bonds
Many investors prefer to invest in a new type of gold called Sovereign Gold Bonds. It is issued by RBI. These are very safe digital gold and investing in it gives an annual return of 2.50%.
So the next advantage of Groww is that the Groww app gives you the option to invest in Sovereign Gold Bonds and along with this you will also get the necessary information related to investing in it easily on their website and mobile app.
Free demat account
Opening a demat account in the Groww app is absolutely free. Whereas on opening a demat account through any other app or any financial institution, opening charge has to be paid. Apart from this, there is no need to pay any kind of maintenance fee in this Groww. Also keep in mind that if you have invested in securities in your account, then you will have to pay ₹25 per month.
Advantages and Disadvantages of Groww: Disadvantages of Groww
There are some such disadvantages of Groww or there are some such shortcomings, due to which many people do not like Groww at all and for that reason do not use them, so let us tell you one by one which such shortcomings.
Not currency and commodity
If you are thinking of investing in currency and commodity and you want to invest in currency and commodity from Groww then you cannot do it at all. As of now, the Groww app does not offer the option to invest in currency and commodities. So call it a drawback of Groww or call it a disadvantage that users cannot invest in currency and commodity through Groww. let’s know more about the advantages and disadvantages of Groww.
Not stock SIP feature
If you want to invest some money week-to-week, month-to-month by selecting some stocks, then you cannot do that at all with Groww. Whereas Zerodha and Angel offer the option of one stock SIP. So if you were about to do stock SIP, then knowing this disadvantage of Groww, now do not use Groww for stock SIP. SIP can be done only in mutual funds.
Not useful for professional trading
The post about advantages and disadvantages of Groww the Demat account of Groww app is very simple and very easy to use for a beginner. But a professional trader who needs a variety of options to invest and do intraday trading, all these options are not yet available in Groww.
Also Read : Advantages and Disadvantages of UPI Transaction
So the next disadvantage of Groww is that Groww is not at all a suitable app for professional trading. Can be considered a good app for a beginner. Do note that in the coming times, with many updates to be made in Groww, it can become a good app for professional traders as well.
Advantages and disadvantages of Groww: Final thought
After knowing one of the advantages of Groww, do not decide that you should use it or even after knowing one of the disadvantages, you should not decide that you should not use this app.
Think according to your need, if there is some option that Groww is giving and you need it, then use it. If there is any option which you do not need and Groww is not providing that option then you can still use Groww.
Well, you can tell in the comments how you liked Groww based on your usage.