Groww vs Zerodha are two of the most popular online discount brokers in India. Both offer low-cost trading and investment services to investors. However, there are some differences between the two that you should be aware of before choosing one over the other.
Overview
Zerodha is India’s No. 1 stockbroker and is among the largest and most reputed brokers offering online flat fee discount brokerage services to invest in Equity, Currency, Commodity, IPO, Futures & Options, Bonds, Govt. Securities, and Direct Mutual Funds.
Groww, on the other hand, is a Bangalore-based broker that offers online flat fee discount brokerage services to invest in Equity, IPO, and Direct Mutual Funds. It is the brand name for Nextbillion Technology Private Limited, which is a SEBI registered stockbroker and a member of NSE and BSE.
Comparison (Groww vs Zerodha)
Broker Type and Exchange Membership
Zerodha is a discount broker that offers trading at NSE, BSE, MCX, and NCDEX. It has 22 branches across India. Groww is also a discount broker that offers trading at NSE and BSE. However, it has no branches across India.
Year of Incorporation
Zerodha was incorporated in 2010, while Groww was incorporated in 2016.
Number of Branches
Zerodha has 22 branches across India, while Groww has no branches.
| Broker | Type of Broker | Exchnage Membership | Year of Incorporation | Number of Branches |
|---|---|---|---|---|
| Zerodha | Discount Broker | NSE, BSE, MCX and NCDEX | 2010 | 22 |
| Groww | Discount Broker | NSE and BSE | 2016 | 0 |
Charges and AMC (Groww vs Zerodha)
Zerodha charges Rs 0 brokerage for equity delivery trades and direct mutual funds. For intraday and Futures, it charges flat Rs 20 or 0.03% (whichever is lower) per trade.
For Options trades, it charges Flat Rs. 20 per executed order. Groww charges Rs 20 per executed order or 0.05% (whichever is lower) for equity trades and intraday trades.
Zerodha trading account opening charges are Rs 200, while Groww account opening charges are Rs 0 (Free). Zerodha Demat Account AMC Charges are Rs 300, while Groww Demat Account AMC Charges are Rs 0.
Reputation and Trust(Groww vs Zerodha)
Zerodha is a far better broker than Groww in reputation and trust. It has a strong and transparent management, is not backed by VCs, and offers brokerage-free equity delivery. Groww, on the other hand, is a relatively new player in the market and has yet to establish a reputation.
Trading Tools (Groww vs Zerodha)
Zerodha offers excellent trading tools, including Kite, Console, Sentinel, and Streak. Groww, on the other hand, offers a simple and straightforward platform that is ideal for beginners.
Learning Initiatives
Zerodha offers excellent learning initiatives, including Varsity, TradingQ&A, and Z-Connect. Groww, on the other hand, offers a limited number of learning resources.
Conclusion
Overall, Zerodha is a far better broker than Groww in reputation, trust, trading tools, excellent learning initiatives, strong and transparent management, not backed by VCs, and brokerage-free equity delivery.
However, if you’re a beginner seeking a simple, straightforward platform, Groww could be the way to go. Remember, the best platform is the one that aligns with your investment goals, style, and experience.