Groww Vs. Zerodha (2024) – Zerodha is Best!

Groww Vs. Zerodha comparison will help you determine which one of the brokers is right for your trading and investing needs. In this article, I will explain the various essential factors of these two brokers, including the pros and cons, charges, and trading applications. As you go through it, you will get the essential clarity you need.

Groww Vs. Zerodha (Summary):

• Groww was incorporated in 2016, while Zerodha was founded by Nithin Kamath and Nikhil Kamath in 2010.
• Both Groww and Zerodha offers good product offerings including stocks, IPO, mutual funds, ETFs, Futures and Options, Commodities, and Currencies.
• Groww doesn't charge a demat account opening fee and AMC, while Zerodha does.
• Both the discount brokers charge minimal brokerage.
• Groww charges a brokerage fee on Equity Delivery, while Zerodha doesn't.
• Both have good trading applications across web and mobile device platforms.
• Groww doesn't offer NRI trading, while Zerodha does.
• Both brokers offer margin trading.
• Groww offers support through tickets, while Zerodha does it through phone and tickets.

Groww Vs. Zerodha (Pros & Cons):

Groww Pros & Cons:

Groww Pros:

• Free account opening.
• Zero annual maintenance charges.
• Minimal brokerage charges.
• Wide range of financial products, including mutual funds, stocks, and IPO
• Loan service is available.
• Good web and mobile trading applications.

Groww Cons:

• The interface gets sluggish sometimes.
• Customer service is limited to just tickets.

Zerodha Pros & Cons

Zerodha Pros:

• Beginner-friendly interface.
• Good product offerings Equity, F&O, and Direct Mutual Fund.
• Excellent trading applications across web and mobile platforms.
• Tradingview and ChartIQ charting tools.
• Multiple order types, including GTT and AMO.
• Reliable Customer Support Service.
• Excellent Reports.

Zerodha Cons:

• Several glitches since 2023.

Groww Vs. Zerodha (Charges):

Groww lets you open a free demat account. Besides, the platform doesn't charge any annual maintenance fee.

Groww charges minimal brokerage fees on your executed orders. Here are the Groww brokerage charges:

• Equity Delivery & Intraday: ₹20 or 0.05% per executed order, whichever is lower.
• Mutual Funds: ₹0.
• Futures & Options: ₹20 per executed order.

There are some additional charges other than brokerage fees, such as service tax, transaction charges, and GST.

The discount broker also has many calculators, including a brokerage calculator. You can use the brokerage calculator to understand the breakdown of charges associated with any order.

Unlike Groww, Zerodha charges a demat account charge of ₹200 and an AMC of ₹300. Zerodha keeps its brokerage charges low.

Here are the brokerage charges:

• Equity Delivery and Mutual Fund: ₹0.
• Intraday trading and all segment Futures: Flat ₹ 20 or 0.03% (whichever is lower) per executed order.
• All segment Options: Flat ₹20.

It's important to understand that while Groww charges a brokerage fee on Equity Delivery, Zerodha doesn't, which gives it a little advantage over Groww.

Groww Vs. Zerodha (Trading Platform):

Groww has trading applications across web and mobile device platforms. The applications come with Tradingview and ChartIQ charting tools, multiple watchlists, multiple order types including GTT.

The interface is simple and it's easy to navigate. I never faced any big issues while using the Groww app. However, I noticed the app getting sluggish sometimes especially on the web app.

Groww lets you buy and Sell from the Tradingview chart itself. Besides, the interface looks more intuitive than the regular Tradingview interface. Further, you can enable biometric login on your Groww mobile app for better security and convenience.

Zerodha's trading application is called Kite and is available as web and mobile applications. The interface is clean and intuitive. It helps in easy navigation between positions and orders.

Kite gives you the option to select between Tradingview and ChartIQ charting tools. You can use Tradingview's multiple layouts and different technical indicators freely without any restrictions. Besides, the app allows you to select from multiple order types like GTT, AMO, BO, or CO.

Kite also allows you to enable biometric login and it helps you to access your Kite mobile app quicky and coveniently with your phone's pin, password or pattern.

It's also worth mentioning that the stock broker has a separate platform, Zerodha Coin for investment in 0% commission direct Mutual Fund and NPS (National Pension System).

Even though Groww has been gaining increasing popularity since 2023, I still feel Zerodha Kite would be the right platform for Options trading since the interface is faster than that of the Groww app. 

Groww Vs. Zerodha FAQs:

Does Groww charge account opening charges?

Groww has zero charges on account opening and besides, the platform doesn't charge Annual maintenance charges. Further, the stock broker keeps its charges very minimal, which makes it one of the affordable stock brokers.

Does Zerodha have a zero brokerage plan?

Zerodha doesn't have a zero brokerage plan. However, the broker doesn't charge any brokerage fee on Equity delivery and direct Mutual Funds.

Is Zerodha good for beginners?

Zerodha is ideal for beginners considering its clean, simple and easy to use interface. Unlike other brokers, Zerodha doesn't clutter its interface with business news and other tools, offering an intuitive navigation. Any beginner can get the hang of the platform in 10 minutes.

Is Zerodha free or paid?

Zerodha isn't a free platform as it charges ₹300 for account opening, and an AMC of ₹300. Besides, Zerodha charges brokerage fees on executed orders.

Conclusion

Groww and Zerodha are ranked among the reliable discount brokers for trading and investing in the Indian stock market. I have walked you through the different aspects of these brokers. As you have seen in the post, the brokers have good account features and investment options. Groww has an edge over Zerodha since it doesn't charge account opening charges and AMC.

Regarding stock trading applications, Zerodha's Kite offers a faster and more convenient experience than the Groww app. Zerodha also has an edge over Groww in terms of customer support since it offers phone and email support, while Groww only offers ticket support.

I should also make you aware of the fact that Zerodha has experienced several glitches since 2023. However, the platform seems to have worked on it, and everything is smooth and fine now. I would definitely recommend Zerodha over Groww, considering its clean and fast interface.