HDFC Sky vs Groww

You may have heard of HDFC Sky and Groww if you are looking for a cheap broker to buy stocks, mutual funds, and other financial products. These are two well-known online platforms that provide cheap brokerage services and are easy to use. Which one is better for you? We will look at HDFC Sky and Groww side by side in this blog post, comparing things like brokerage fees, trading platforms, investment options, customer service, and more. We will also talk about the good and bad points of each broker and who should pick which one in each situation.

HDFC Sky vs Groww: Brokerage Charges

One big reason why investors like discount brokers is that they charge low brokerage fees. You will be charged Rs 20 or less for each order that is executed, no matter how much the trade is or what segment it is in. This is a lot less than what traditional brokers charge, which is a percentage of the value of the trade. HDFC Sky and Groww offer some segments that are not the same.

You can invest in stocks, futures and options, currencies, and commodities through HDFC Sky, but only stocks, futures & options through Groww. The annual maintenance charge (AMC) for an HDFC Sky demat account is Rs 240 per year, but it is free for the first year. Groww makes no AMC for the demat account.

HDFC Sky vs Groww: Trading Platforms

The trading platform is another important thing to think about when picking a discount broker. You need a platform that is quick, dependable, simple to use, and full of all the features and tools you need to trade well. For both HDFC Sky and Groww, you can use their own web-based and mobile apps to get to your trading account and place orders.

With a clean look and easy navigation, the HDFC Sky mobile app is both simple and elegant. It gives away free research and advice, live market data, charts, watchlists, alerts, tracking of portfolios, and more. The Groww app is also easy to use, with a clean and nice-looking interface. You can invest in direct mutual funds for free, and it also has stock screeners, charts, watchlists, alerts, portfolio analysis, and more.

HDFC Sky vs Groww: Investment Options

Both HDFC Sky and Groww let you invest in more than just stocks and derivatives. For example, they both offer mutual funds and initial public offerings (IPOs). Of course, the types of mutual funds they offer are not the same. You can invest in regular mutual funds only through HDFC Sky which is a downside.

Regular mutual funds take a cut of your investment to pay the broker a fee. Direct mutual funds, on the other hand, don’t charge any fees and have higher returns because of this. Groww only sells direct mutual funds from a few fund houses. Thus, investing through Groww will save you money on commission fees.

HDFC Sky vs Groww: Customer Service

When picking a discount broker, you should also think about how good their customer service is. You need a broker who will respond quickly, help you, and be there for you when you need them. There are customer service teams for both HDFC Sky and Groww that you can call and email. None of them offer chat support.

On the other hand, HDFC Sky is better than Groww when it comes to customer service and being available. HDFC Sky is backed by HDFC Bank, which is one of India’s biggest banks and known for having great customer service. They also have branches all over India that you can go to if you have any questions or problems. Groww doesn’t have physical branches or offices where you can visit them in person.

Also read: HDFC Sky vs Zerodha

HDFC Sky vs Groww: Pros and Cons

To sum up, here are some of the pros and cons of HDFC Sky and Groww:

Pros of HDFC Sky

• HDFC Sky lets you invest in stocks, futures and options, currencies, and commodities;
• HDFC Sky charges ₹20 or 0.1% (whichever is lower) for delivery, intraday, equity futures, currency futures, and commodity futures.
• Offers free research and advice through a simple but beautiful mobile app
• It has great customer service backed by HDFC Bank; it has branches all over India.

Cons of HDFC Sky

• You have to pay ₹240 a year for a demat account, but the first year is free.
• It doesn’t offer to invest in Direct mutual funds

Pros of Groww

• Doesn’t charge any AMC for demat accounts
• Groww charges ₹20 or 0.05% per executed order, whichever is lower for delivery and intraday which is less than HDFC Sky.
• Has an easy-to-use mobile app that lets you invest in mutual funds directly for free
• Has tools for screening stocks and analyzing portfolios

Cons of Groww

• Doesn’t have any offices or branches in
• Groww’s cons are that it only lets you invest in stocks, futures & options. It doesn’t offer Currencies and Commodities.

Who Should Choose What in Which Case?

Now that you know how they compare, here are some situations in which you should pick HDFC Sky or Groww:

• If you want to invest in commodities, it’s better to go with HDFC Sky instead of Groww.
• Choose Groww instead of HDFC Sky for your demat account AMC if you want to save money. HDFC Sky charges ₹240 per year for this.
• You should choose Groww if you want to invest in mutual funds because HDFC Sky offers regular mutual funds.
• You should pick HDFC Sky over Groww if you want free research and advice services.
• Choose HDFC Sky over Groww if you want great customer service and branch support.

In conclusion

HDFC Sky and Groww are both well-known for their low-cost services and easy-to-use platforms. Some things that make them different are the types of mutual funds they offer, the customer service they provide, and the amount of money they charge for a demat account. You can choose either one for your investment needs, depending on what you want and what you need.

If you want less brokerage, are a beginner, invest in mutual funds only, or want to invest for the long term, then go for Groww. If you want more trading features, intraday trading, F&O, and better support then go for HDFC Sky.