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Groww vs Indmoney review with charges

More and more people are investing in the Indian stock market, and there are a lot of platforms competing for their business. Groww and Indmoney are two well-known names in this field. In this detailed comparison, we will look at the Groww vs Indmoney pros and cons, features, performance, and user experiences.

Groww Quick Overview

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Groww is an investment platform that has been around since 2016 and makes it easy for people to buy stocks and mutual funds. It gives you all the information you need about each company in great detail and has a powerful stock analysis tool with live technical charts supporting it.

Indmoney Quick Overview

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With its launch in 2019, Indmoney is an investment tracker and capital organizer that makes it easier for people to keep track of all their money in one place. It helps people with their money in many ways, like managing investments, keeping track of expenses, planning taxes, getting insurance, and making retirement plans.

Groww vs Indmoney: Navigation and User Interface

User interface
  • Groww: Groww has an easy-to-use interface and a simple, clean look. It’s easy for new users to get around because the navigation is simple.
  • Indmoney: The interface for Indmoney is a bit trickier than Groww’s, but it has more features and customization options. This may appeal to experienced investors, but it could be too much for new investors to handle.

Groww vs Indmoney: Choices for Investments

  • Groww: You can buy Indian stocks, mutual funds, and exchange-traded funds (ETFs) through Groww. It does not offer US stock buying, but it is a good choice for someone who wants to invest in Indian stocks only.
  • Indmoney: Indmoney mainly deals with US stock investments. In Indian stocks, it provides mutual funds and exchange-traded funds (ETFs). Recently, it launched a feature to invest in Indian stocks.

Groww vs Indmoney: Research and Analysis

Research analysis
  • Groww: Groww gives you simple research tools like news feeds and stock charts, but it doesn’t have any in-depth analysis or suggestions from experts.
  • Indmoney: With more research tools, such as fund analysis reports, expert insights, and portfolio recommendations, Indmoney is a better choice.

Indmoney vs Groww Charges

Indmoney overall charges
Indmoney overall charges

Here is a comparison of Groww vs Indmoney charges for Indian stocks:

ChargesINDmoneyGroww
A/C Opening₹0₹0
KYC₹0₹0
Brokerage0.05% of order value or Rs. 20, whichever is lower0.05% of order value or Rs. 20, whichever is lower
F&O brokerage₹ 20 per executed order₹ 20 per executed order
AMC₹0₹0
Exchange transaction charges (NSE)0.00325% of the transaction value for all stocks0.00325% of transaction value for all stocks
SEBI turnover charges for buy and sell orders only0.0001% of turnover for both buy and sell orders only0.0001% of turnover for both buy and sell orders only
DP charges (Depository Participant) for delivery sell orders only₹ 13.5 + GST per ISIN per day, regardless of quantity sold₹ 13.5 + GST per company per day, regardless of quantity sold
Charges of Groww and Indmoney

Check other pricing of Groww

Also read: HDFC Sky vs Zerodha: Which is better?

Some inferences that can be drawn from this comparison are:

  • Both Indmoney and Groww offer zero account opening fees and zero hidden charges.
  • Both Indmoney and Groww charge a flat fee of Rs. 20 or 0.05% per executed order, whichever is lower, across all segments, including equity delivery, intraday, and F&O.
  • Both Indmoney and Groww charge different exchange transaction charges based on various factors such as exchange, group, premium, etc.
  • Both Indmoney and Groww charge different STT rates based on various factors, such as exchange, group, premium, etc.
  • Both Indmoney and Groww charge different stamp duty rates based on various factors such as exchange, group, premium, etc.
  • Both Indmoney and Groww charge different SEBI turnover charges based on various factors, such as exchange.
  • Both Indmoney and Groww charge different DP charges based on various factors, such as ISIN or company.
  • Both Indmoney and Groww have other charges that may vary depending on the service and mode of payment.

Groww vs Indmoney: Quick Summary

Here’s a quick summary table to help you compare the two platforms:

FeatureGrowwIndmoney
User interfaceSimple and intuitiveSlightly complex
Investment optionsStocks, mutual funds, ETFs, US stocks, fractional sharesMutual funds, ETFs
Research and analysisBasicComprehensive
Fees and commissionsSame brokerage fee on equity trades, zero commission on direct mutual fundsSame brokerage fee on equity trades, zero commission on direct mutual funds
Other featuresGoal-based investing, fractional shares, tax-saving investmentsWealth management advice, financial planning tools, and credit score tracking
Quick summary table of Indmoney and Groww

Also read: Indmoney Vs Zerodha Charges

Groww vs Indmoney Ratings

ParameterINDMoneyGroww
FeaturesMoreLess
FeesLowerHigher
SupportBetterGood
3 Overall parameters compared of Indmoney vs Groww

In the comparison of Groww vs Indmoney, both Groww and Indmoney are excellent options to invest in Indian stocks. Their prices are about the same and they offer a variety of services. What you choose between the two will depend on your needs and preferences. Groww might be a better choice for you if you want a platform with a clean user interface and a powerful stock analysis tool. For those seeking complete financial management services, Indmoney might be a better choice.

Groww vs Indmoney: All charges

Product Name

Groww app brokerage charges

Indmoney review with Charges

Product Image Groww app brokerage charges Indmoney review with Charges
Price
Our Rating 8.6 7.8
Brand Groww Indmoney
Category Stock brokers Stock brokers

Company Overview

Groww app brokerage chargesIndmoney review with Charges
Company name Groww Venture Indmoney- Finzoom Investment Advisors Private Limited
Headquarters New Delhi Gurugram, Haryana
Founder Lalit Keshre Ashish Kashyap
Establishment Year 2017 2019

Account opening & AMC

Groww app brokerage chargesIndmoney review with Charges
Account Opening Fee The account opening fee, also known as account setup charges, refers to the one-time charge levied by a brokerage firm when you open a new Demat and trading account to invest in securities like stocks, bonds, or ETFs. These fees can vary depending on the type of account, the brokerage firm, and any current promotions or offers. ₹0 ₹0
Annual Maintenance Charges (AMC) This is a yearly fee levied by the depository participant (DP) to maintain your Demat account, where your shares are held electronically. ₹0 ₹0

Pledge Charges

Groww app brokerage chargesIndmoney review with Charges
Pledge Creation Charges ₹0 Does not provide
Pledge Invocation Charges ₹20 Does not provide
Interest on Margin Trading Does not provide Does not provide
Margin Re-Pledge ₹5 Does not provide

Brokerage charges & Fees

Groww app brokerage chargesIndmoney review with Charges
Brokerage Plan Standard Standard
Equity Delivery Charges ₹20 or 0.05% per executed order, whichever is lower ₹20 or 0.05% whichever is lower
Equity Intraday Charges ₹20 or 0.05% per executed order, whichever is lower ₹20 or 0.05% whichever is lower
Equity Futures charges Flat ₹20 per executed order Flat ₹20 per executed order
Equity Options charges Flat ₹20 per executed order Flat ₹20 per executed order
Currency Futures charges Does not offer Does not offer
Currency Options charges Does not offer Does not offer
Commodity Futures charges Does not offer Does not offer
Commodity Options charges Does not offer Does not offer

Customer services offered

Groww app brokerage chargesIndmoney review with Charges
Demat Services ✅Yes ✅Yes
Trading Services ✅Yes ✅Yes
Intraday Services ✅Yes ✅Yes
F&O Services ✅Yes ✅Yes
IPO Services ✅Yes ✅Yes
Share Pledging ✅Yes ⛔No
NRI Services ✅Yes ⛔No
Referral Program ✅Yes ✅Yes

Customer Support

Groww app brokerage chargesIndmoney review with Charges
Call Support +91 9108800604 (24x7) 07314852049
Email Support support@groww.in instockssupport@indmoney.com
Whatsapp Support ⛔No ⛔No
Website Support ✅Yes, create ticket ✅Yes, Create ticket

Leverage (Margin) Offered

Groww app brokerage chargesIndmoney review with Charges
Equity Delivery Margin Leverage No leverage available; requires full margin upfront No leverage available; you need the full purchase value in your account.
Equity Intraday Margin Leverage Upto 5x depending on the stock (lower leverage for volatile stocks) No leverage available; you need the full purchase value in your account.
Equity F&O Intraday Margin Leverage No leverage available; requires full margin upfront No leverage available; you need the full purchase value in your account.
Equity F&O Carry Forward Margin Leverage No leverage available; requires full margin upfront No leverage available; you need the full purchase value in your account.
Currency F&O Margin Leverage Does not provide Currency trading Does not offer
Commodity F&O Intraday Margin Leverage Does not provide Commodity trading Does not offer
Commodity F&O Carry Forward Margin Leverage Does not provide Commodity trading Does not offer

Unique Offerings

Groww app brokerage chargesIndmoney review with Charges
Free Account Opening ✅Yes ✅Yes
Free Brokerage On Mutual Funds and IPOs only ✅Yes, IPOs & Mutual Funds only
Free AMC ✅Yes ✅Yes
Free Equity Delivery ⛔No ⛔No
Free F&O Trading ⛔No ⛔No
Free Intraday Trading ⛔No ⛔No
Free Trading calls ⛔No ⛔No
Happy Trading Hours ⛔No ⛔No
Flexible Brokerage Plans ⛔No ✅Yes
Referral Offers ✅Yes ✅Yes
Margin Funding (MTF)/ Pledging ✅Yes ⛔No
Brokerage Cashback ⛔No ⛔No
Zero Brokerage for Loss Making Trades ⛔No ⛔No
Relationship Manager ⛔No ⛔No

Services Provided

Groww app brokerage chargesIndmoney review with Charges
Equity Delivery ✅Yes ✅Yes
Equity Intraday ✅Yes ✅Yes
Equity Futures ✅Yes ✅Yes
Equity Options ✅Yes ✅Yes
Currency Futures ⛔No ⛔No
Currency Options ⛔No ⛔No
Commodity Futures ⛔No ⛔No
Commodity Options ⛔No ⛔No
Foreign Stocks ✅Yes, US stocks ✅Yes
Mutual Funds ✅Yes ✅Yes
Banking ⛔No ⛔No
Insurance ⛔No ⛔No
Corporate Bonds ⛔No ⛔No
Govt. Bonds ⛔No ⛔No
Digital Gold ⛔No ⛔No

Order Types

Groww app brokerage chargesIndmoney review with Charges
Market Order ✅Yes ✅Yes
Limit Order ✅Yes ✅Yes
Bracket Order ⛔No ✅Yes
Cover Order ⛔No ✅Yes
After Market Order (AMO) ✅Yes ✅Yes
Good Till Cancelled (GTC) ✅Yes ✅Yes
Buy Today Sell Tomorrow (BTST) ⛔No ⛔No
Sell Today Buy Tomorrow (STBT) ⛔No ⛔No

Research & Reports

Groww app brokerage chargesIndmoney review with Charges
Annual Reports ✅Yes ✅Yes
Company Reports ✅Yes ✅Yes
Research Reports ⛔No ⛔No
Fundamental Reports ✅Yes ✅Yes
IPO Reports ✅Yes ✅Yes
Technical Reports ⛔No ✅Yes
Stock tips ⛔No ⛔No
Daily Market Review ✅Yes ✅Yes
Monthly Review ✅Yes ✅Yes
Weekly Review ✅Yes ✅Yes
Robo Advisory ⛔No ⛔No

STT & CTT Charges

Groww app brokerage chargesIndmoney review with Charges
Equity Delivery STT & CTT 0.1% on buy & sell 0.1% on buy & sell
Equity Intraday STT & CTT 0.025% on the sell side 0.025% on sell transactions
Equity Futures STT & CTT 0.0125% on the sell side 0.0125% on sell side
Equity Options STT & CTT 0.0625% on sell side (on premium) 0.0625% on sell side (on premium)
Currency Futures STT & CTT ⛔ Does not offer ⛔ Does not offer
Currency Options STT & CTT ⛔ Does not offer ⛔ Does not offer
Commodity Futures STT & CTT ⛔ Does not offer ⛔ Does not offer
Commodity Options STT & CTT ⛔ Does not offer ⛔ Does not offer

Trading Features

Groww app brokerage chargesIndmoney review with Charges
Watchlist ✅Yes ✅Yes
Real Time Updates ✅Yes ✅Yes
Portfolio Details ✅Yes ✅Yes
Price Alert ✅Yes ✅Yes
Online Mutual Fund Buy ✅Yes ✅Yes
Global indices ⛔No ✅Yes
Customized Recommendations ⛔No ⛔No
Advanced charting ⛔No ⛔No
Live market ✅Yes ✅Yes
Multiple Profile Management ⛔No ⛔No
Secure Platform ✅Yes ✅Yes

Trading Platforms

Groww app brokerage chargesIndmoney review with Charges
Android App ✅Yes ✅Yes
iOS App ✅Yes ✅Yes
Web Trading Platform ✅Yes ✅Yes
Trading Terminal ⛔No ⛔No
Algo Trading Platform ⛔No ⛔No
Foreign Stocks Trading Platform ✅Yes, US stocks only ✅Yes
Basket Trading Platform ⛔No ⛔No
Mutual Fund Investment Platform ✅Yes ✅Yes
Digital Gold Investment Platform ⛔No ⛔No
Bonds Investment Platform ⛔No ⛔No

Transaction Charges

Groww app brokerage chargesIndmoney review with Charges
Equity Delivery Transaction Charges NSE: 0.00325% | BSE: 0.00375% BSE: 0.00375%, NSE: 0.00325%
Equity Intraday Transaction Charges NSE: 0.00325% | BSE: 0.00375% BSE: 0.00375%, NSE: 0.00325%
Equity Futures Transaction Charges NSE: 0.0019% | BSE: 0 NSE: 0.0019%, BSE: 0 (Zero)
Equity Options Transaction Charges NSE: 0.05% (on premium) | BSE: 0.0325% (on premium) NSE: 0.05% (on premium), BSE: 0.005% (on premium)
Currency Futures Transaction Charges Does not offer Does not offer
Currency Options Transaction Charges Does not offer Does not offer
Commodity Futures Transaction Charges Does not offer Does not offer
Commodity Options Transaction Charges Does not offer Does not offer

Stamp Duty charges

Groww app brokerage chargesIndmoney review with Charges
Equity Delivery Stamp Duty 0.015% or ₹1500 / crore on buy side 0.015% Buy
Equity Intraday Stamp Duty 0.003% or ₹300 / crore on buy side 0.003% Buy
Equity Futures Stamp Duty 0.002% or ₹200 / crore on buy side 0.002% or ₹200 / crore on buy side
Equity Options Stamp Duty 0.003% or ₹300 / crore on buy side 0.003% or ₹300 / crore on buy side
Currency Futures Stamp Duty ⛔ Does not offer ⛔ Does not offer
Currency Options Stamp Duty ⛔ Does not offer ⛔ Does not offer
Commodity Futures Stamp Duty ⛔ Does not offer ⛔ Does not offer
Commodity Options Stamp Duty ⛔ Does not offer ⛔ Does not offer

Other Charges

Groww app brokerage chargesIndmoney review with Charges
SEBI Turnover Charges ₹10 / crore ₹10/Crore (For all segments)
DP Charges ₹13.5 per company ₹13.5/scrip
GST charges 18% 18% of (brokerage + transaction charges + Demat)
Account Closure Charges Free Free
Reactivation Charges Free Free
Dematerialization Charges ₹150 per share certificate + courier charges ₹250 per certificate
Call and Trade charges ₹50 per order ₹ 500 per order