Groww vs 5paisa: Which Demat is Best for You?
This is a Comparision of the Groww and 5paisa.
In fact, I have been using this Demat account for more than two years.
In this post, I compare Groww vs 5paisa in terms of:
- Overview
- Trading Platform
- Account Opening and Maintenance Charges
- Brokerage Charges
- Trading and Invest Option
Let’s get started.
Overview of Groww vs 5paisa
| Groww | 5paisa | |
|---|---|---|
| Type | Online Investment Platform | Discount Broker |
| Year Founded | 2017 | 2016 |
| Headquarters | Bangalore, India | Mumbai, India |
| Overall Rating | 4 out of 5 | 4.0 out of 5 |
| Brokerage Charges for Equity Intraday, F&O, Commodity and Currency | Lower of Rs 20 or 0.05% per executed trade | Flat fee of Rs 20 per executed order for all segments |
| Maximum Brokerage per Executable Order | Rs 20 | Rs 20 |
| Zero Brokerage on Equity Delivery Trading | Yes | Yes |
| Presence in Branches | No branches | No branches |
| Mobile Trading App | Available | Available |
| Number of Features | 20+ | 60+ |
| Ranking | 9th | 4th |
Overview of Groww and 5paisa
If you are looking for a Discount broker in India, you might have encountered Groww and 5paisa. Groww was incorporated in 2016 and is based in Bangalore, India. It is a private company that is backed by well-known investors such as Ribbit Capital, Sequoia Capital, and Y Combinator. Groww is a popular choice for investors who are looking for a user-friendly platform to invest in mutual funds and stocks.
On the other hand, 5paisa is a public company that was incorporated in 1996. It is also based in India and has one branch across the country. 5paisa is a discount broker that offers trading at NSE and BSE. It is a popular choice for traders who are looking for low brokerage charges and a wide range of investment options.
Both Groww and 5paisa have their own strengths and weaknesses. Groww is known for its user-friendly interface and easy-to-use mobile app. It offers commission-free investing in mutual funds and low brokerage charges for trading in stocks. Groww also has a team of experienced professionals who can help you with your investment decisions.
On the other hand, 5paisa offers low brokerage charges and a wide range of investment options. It also has a powerful trading platform suitable for beginners and experienced traders. 5paisa also offers a range of research tools and educational resources to help you make informed investment decisions.
In conclusion, Groww and 5paisa are both popular discount brokers in India. While Groww is more focused on mutual fund investing, 5paisa offers a wider range of investment options. Ultimately, the choice between the two will depend on your investment goals and preferences.
Services Offered
Both Groww and 5paisa offer a range of investment services to their clients. Here is a breakdown of the services offered by each broker:
Groww
Groww offers a variety of investment services, including Equity, Mutual Funds, and IPOs. With Groww, you can Open a Demat account and invest in a range of equity and debt mutual funds from top asset management companies in India. Groww also offers research reports and tools to help you make informed investment decisions.
Additionally, Groww offers a user-friendly mobile app that allows you to invest in mutual funds and stocks on the go. The app is available for both Android and iOS devices.
5paisa
5paisa offers a range of investment services, including Equity, Currency, Commodity, and Derivatives trading. With 5paisa, you can open a Demat account and invest in Mutual Funds, IPOs, and Direct Mutual Funds. 5paisa also offers a Robo Advisory platform that provides personalized investment recommendations based on your risk profile and investment goals.
5paisa offers a trading platform that is available on both desktop and mobile devices. The platform offers a range of features, including advanced charting tools, research reports, and real-time market data. 5paisa also offers a range of educational resources to help you learn more about investing and trading.
Account Opening
Both Groww and 5paisa offer a quick and easy Account opening process. With Groww, you can open a Demat account and start investing in just a few minutes. You only need to provide your Documents details like your PAN card and Aadhaar card details.
Similarly, with 5paisa, you can open a Demat account online by providing your PAN card and Aadhaar card details. The account opening process is quick and hassle-free.
Brokerage and AMC
Both Groww and 5paisa offer competitive brokerage rates. Groww charges a flat fee of Rs. 20 per trade for Equity and Intraday Trading. 5paisa, on the other hand, charges Rs. 20 per executed order for Equity and Intraday trading. Both brokers also offer low AMC charges for their Demat accounts.
Products
Groww and 5paisa offer a range of investment products to their clients. With Groww, you can invest in Equity, Debt, Hybrid Mutual Funds, and IPOs. 5paisa, on the other hand, offers Equity, Currency, Commodity, and Derivatives trading, as well as Mutual Funds and Direct Mutual Funds.
Research and Advisory
Both Groww and 5paisa offer research reports and advisory services to their clients. Groww provides research reports and tools to help you make informed investment decisions. 5paisa offers a range of educational resources, including webinars, videos, and articles, to help you learn more about investing and trading. 5paisa’s Robo Advisory platform also provides personalized investment recommendations based on your risk profile and investment goals.
In conclusion, Groww and 5paisa offer their clients a range of investment services. While Groww focuses on Mutual Funds and IPOs, 5paisa offers a wider range of investment products, including Equity, Currency, Commodity, and Derivatives trading. Choose the broker that best suits your investment needs and goals.
Trading Platform and Mobile App
Both Groww and 5paisa have pros and cons regarding trading platforms and mobile apps.
Groww Trading Platform and Mobile App
Groww has a simple and user-friendly platform that is easy to navigate. The platform is designed to cater to the needs of beginners and offers limited features. This can be a downside for experienced traders who require advanced tools and features. However, for beginners, the platform provides a seamless trading experience.
Groww’s mobile app is one of the best in the market. The app is available for both iOS and Android devices and is easy to use. The app provides a range of features, including the ability to buy and sell stocks, mutual funds, and gold. The app also provides real-time market updates and the ability to track your portfolio.
5paisa Trading Platform and Mobile App
5paisa provides a comprehensive trading platform that caters to the needs of both beginners and experienced traders. The platform provides a range of advanced features, including technical analysis tools, customizable charts, and real-time market data. The platform is also available in multiple languages, making it accessible to traders across India.
5paisa’s mobile app is also well-designed and provides a range of features. The app is available for both iOS and Android devices and allows traders to buy and sell stocks, mutual funds, and other financial instruments. The app also provides real-time market updates and allows traders to track their portfolios.
Comparison
When it comes to trading platforms, 5paisa offers a more comprehensive platform that caters to the needs of experienced traders. However, Groww’s simple and user-friendly platform may be more suitable for beginners.
In terms of mobile apps, both Groww and 5paisa offer well-designed apps that provide a range of features. However, Groww’s app may be more suitable for beginners, while 5paisa’s app may be more suitable for experienced traders.
Overall, both Groww and 5paisa provide trading platforms and mobile apps that cater to the needs of different types of traders. Choosing the platform and app that best suits your trading style and experience level is important.
Account Opening Process and Charges
When it comes to opening a Demat account with Groww or 5paisa, the process is quite simple and can be done online through their respective websites or mobile apps. Both platforms offer free Demat account opening, meaning you don’t have to pay any charges to create your account.
However, there are some differences in the charges for maintaining your account. Here’s a table comparing the account opening and maintenance charges for Groww and 5paisa:
| Charges | Groww | 5paisa |
|---|---|---|
| Account Opening Charges | Free | Free |
| Account Maintenance Charges (AMC) | Free | Rs. 300 per year |
As you can see, Groww offers free Demat account maintenance, while 5paisa charges Rs. 300 per year for the same. It’s worth noting that this charge is quite nominal and shouldn’t be a major deciding factor when choosing between the two platforms.
Overall, both Groww and 5paisa offer a hassle-free account opening process with no charges. However, if you’re looking for a platform with no account maintenance charges, Groww is the better option.
Brokerage and Other Charges
When it comes to investing in the stock market, brokerage and other charges are important considerations to keep in mind. In this section, we will compare the brokerage and other charges of Groww and 5paisa.
Here’s a table that compares the brokerage and other charges of Groww and 5paisa:
| Charges | Groww | 5paisa |
|---|---|---|
| Brokerage | Rs 20 or 0.05% per order (whichever is lower) | Rs 20 per executed order for equity and intraday |
| Transaction Charges | NSE: 0.00325% and BSE: 0.003% | NSE: 0.00345% and BSE: 0.003% |
| Minimum Brokerage | Rs 20 | Rs 20 |
| Brokerage Calculator | Available | Available |
| AMC Charges | Rs 0 (Free) | Rs 75 per quarter |
| Failed Instruction Charges | Rs 20 per instruction | Rs 20 per instruction |
| Brokerage Plans | Available | Available |
| Demat AMC Charges | Rs 300 per year | Rs 45 per month |
| Zero Brokerage | No | No |
As you can see, both Groww and 5paisa have similar brokerage charges. However, Groww offers a brokerage of 0.05% per order, which can be lower than Rs 20 for larger orders. Groww also charges lower transaction charges on NSE and BSE.
Both Groww and 5paisa have a minimum brokerage of Rs 20. Both offer a brokerage calculator to help you estimate the charges involved in your trades.
When it comes to AMC charges, Groww charges Rs 300 per year, while 5paisa charges Rs 45 per month. Failed instruction charges are the same for both platforms at Rs 20 per instruction.
Neither Groww nor 5paisa offers any free brokerage plans.
Overall, both Groww and 5paisa offer competitive brokerage and other charges. When choosing between the two, it’s important to consider your specific investment needs and preferences to determine which platform best fits you.
Trading and Investment Options
When it comes to trading and investment options, both Groww and 5paisa offer a range of choices for investors.
Equity Trading
Both brokers allow you to trade in equity intraday, equity options, and equity futures. 5paisa offers margin trading, while Groww does not. If you are looking for a broker offering margin trading, 5paisa may be your better choice.
F&O Trading
Both Groww and 5paisa allow you to trade in F&O, but 5paisa has a slight edge in terms of brokerage charges. While Groww charges a maximum of Rs 20 per trade, 5paisa charges a maximum of Rs 10 per trade.
MCX Trading
If you are interested in trading in MCX, you may want to consider 5paisa, as Groww does not offer this option.
US Stocks
If you are interested in investing in US stocks, Groww is the clear winner. Groww allows you to invest in real US stocks and CFDs on stocks through one of the most reliable platforms in the industry.
Ultra Trader Pack
If you are an active trader, you may want to consider 5paisa’s Ultra Trader Pack. This pack offers unlimited equity, F&O, and currency trading for a flat fee of Rs 1,000 per month. Groww does not offer a similar pack.
Leverage
Both brokers offer leverage, but 5paisa offers higher leverage than Groww. If you are looking for a broker that offers higher leverage, 5paisa may be your better choice.
Intraday Trading
Both brokers allow you to trade intraday, but 5paisa offers a slight edge in terms of brokerage charges. While Groww charges a maximum of Rs 20 per trade, 5paisa charges a maximum of Rs 10 per trade.
Both Groww and 5paisa offer investors a range of trading and investment options. The choice between the two will depend on your individual needs and preferences.
Regulation and Security
When it comes to investing, it’s important to ensure that the platform you’re using is regulated and secure. Both Groww and 5paisa are registered with the Securities and Exchange Board of India (SEBI), which is the regulatory body for the securities market in India.
In addition to being regulated by SEBI, Groww is also a member of the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE). This means that the platform is subject to the rules and regulations of these exchanges, which adds an extra layer of security and oversight.
5paisa, on the other hand, is a member of the BSE, NSE, and Central Depository Services Limited (CDSL). This means that these entities regulate the platform and are subject to its rules and regulations.
Both platforms also use industry-standard security measures to protect your investments and personal information. This includes using SSL encryption to secure your data and two-factor authentication to protect your account.
In terms of the safety of your investments, both Groww and 5paisa use separate custodian accounts to Hold your securities for the long term. This means that your investments are held separately from the company’s own funds, which adds an extra layer of protection.
Overall, both Groww and 5paisa are regulated and secure platforms that take the safety of your investments and personal information seriously.
Review and Ratings
When it comes to choosing between Groww and 5paisa, it’s important to consider the reviews and ratings of each platform. Both platforms have a good reputation in the market, but there are some differences to keep in mind.
Groww has received positive reviews for its easy-to-use interface, seamless account opening process, and no-commission trading. The platform has a rating of 4.5 stars on Google Play Store and 4.6 stars on the App Store. Customers have praised Groww for its user-friendly design and helpful customer support.
On the other hand, 5paisa has received mixed reviews from customers. While some users appreciate the platform’s low brokerage fees and fast order execution, others have complained about technical glitches and poor customer service. The platform has a rating of 3.8 stars on the Google Play Store and 3.9 stars on the App Store.
It’s important to note that reviews and ratings are subjective and may not reflect your personal experience. It’s always a good idea to do your research and read multiple reviews before making a decision.
Overall, both Groww and 5paisa have their strengths and weaknesses. Groww is a great option for beginners and those looking for a simple, commission-free trading experience. 5paisa, on the other hand, may appeal to experienced traders looking for low brokerage fees and advanced trading tools.
Conclusion
In conclusion, both Groww and 5paisa are popular and reliable investment platforms. Your choice between the two ultimately depends on your personal needs and preferences.
If you are looking for a platform with a wider range of investment options, 5paisa may be your better choice. With the ability to invest in equity, F&O, currency, and commodities, 5paisa offers a more diverse portfolio. 5paisa’s brokerage charges are lower than Groww’s for intraday trading.
On the other hand, if you prioritize ease of use and a more user-friendly interface, Groww may be the better choice for you. Groww’s app is simple and intuitive, making it a Great option for Beginners. Additionally, Groww offers a wider range of mutual funds than 5paisa.
Ultimately, both Groww and 5paisa have their own unique strengths and weaknesses. It’s important to carefully consider your investment goals and preferences before deciding.
Frequently Asked Questions
Which app is better between Groww and 5paisa?
Both Groww and 5paisa are popular investment apps offering various investment options. However, which is better depends on your investment goals, preferences, and experience.
Can you compare Groww and 5paisa?
Yes, you can compare Groww and 5paisa. In fact, there are several comparison websites that offer detailed comparisons of the two apps, including their features, fees, and customer support. You can use these comparisons to make an informed decision.
What are the differences between Groww and 5paisa?
The main differences between Groww and 5paisa are their fee structure, investment options, and user interface. Groww charges a flat fee of Rs. 20 per trade, while 5paisa charges Rs. 10 per trade or 0.05% of the trade value, whichever is lower. Groww offers investment options in Equity, F&O, and Currency, while 5paisa offers investment options in Equity, F&O, Currency, and Commodities. Groww has a simple and user-friendly interface, while 5paisa has a more advanced and feature-rich interface.
Is it safe to invest in 5paisa?
Yes, it is safe to invest in 5paisa. The app is registered with SEBI and follows strict security protocols to protect your investments and personal information. However, as with any investment, risk is always involved, and it is important to do your research and invest wisely.
Are there any disadvantages of using Groww?
Although Groww is a great investment app, it has a few downsides. For example, it does not offer investment options in commodities or international stocks. Additionally, some users have reported slow customer support and technical glitches.
Which is a better option: Upstox or 5paisa?
Upstox and 5paisa are popular investment apps offering similar investment options and fees. However, which is better depends on your investment goals, preferences, and experience. You should compare the two apps and read reviews before making a decision.
What are the brokerage charges for Groww and 5paisa?
Groww and 5paisa bot charge a flat fee of Rs. 20 per trade for equity delivery and intraday trading. Investors can check their respective websites or contact customer support for detailed information.
How does Groww compare to 5paisa in terms of brokerage charges?
Groww and 5paisa have their own unique brokerage charge structures. Investors can compare them to find the one that suits their trading preferences.
Does Groww offer NRI trading services?
Groww currently does not offer NRI trading services. It primarily caters to Indian residents for their investment needs.
What is the review of Groww as an investment platform?
Groww is a popular investment platform known for its user-friendly interface and wide range of mutual fund offerings. It has gained popularity among retail investors for its simplicity and ease of use.
Is Motilal Oswal associated with Groww or 5paisa?
Motilal Oswal is a separate brokerage firm and is not directly associated with Groww or 5paisa.
What is the account opening fee for Groww and 5paisa?
The account opening fee for Groww and 5paisa may vary. Investors can visit their websites or reach out to customer support for detailed information.
Do Groww and 5paisa offer services for equity futures and currency futures?
Yes, both Groww and 5paisa offer services for equity futures and currency futures trading.
How do Kotak Securities and other brokers compare to Groww and 5paisa?
Kotak Securities and other traditional brokers may have different offerings and fee structures compared to Groww and 5paisa. Investors should carefully compare the features, charges, and services to make an informed decision.
