Is it safe to invest in mutual funds through Groww app? (2024)

Is it safe to invest in mutual funds through Groww app?

Amidst this, people often wonder whether the Groww app is safe or not, which we believe is a genuine concern. Well, to clear all the clouds of doubts, yes, Groww is the safest platform you could use to invest and grow (rather Groww) your financial standings.

What are the disadvantages of Groww app?

Groww Cons (Disadvantages)
  • Limited investment products with no option to trade in commodity, and currency segment.
  • No Call and Trade services.
  • Do not provide stock tips, research reports, or recommendations.
  • Do not offer to invest in SME shares (Companies listed on BSE SME and NSE Emerge platform).
  • No branch support.

Is it safe to invest in mutual funds through apps?

Yes, it is safe to invest through mutual fund applications as they are regulated by SEBI and have security measures in place to protect investors' money.

What are the disadvantages of growth mutual funds?

What are the disadvantages of investing in growth mutual funds? Growth mutual funds come with a higher risk of volatility and higher fees than other types of mutual funds, as well as the potential for market volatility and higher fees.

How risky are growth mutual funds?

Most growth funds are high-risk, high-reward, and are therefore best suited to market participants with a long-term investment horizon and a healthy risk tolerance.

Is Groww approved by SEBI?

Online broking firm Groww has received approval from the market regulator Securities and Exchange Board of India (SEBI) to launch its first index fund. The company will launch the Groww Nifty Total Markets Index Fund through a new fund offering (NFO).

Which app is better than Groww?

Zerodha vs Groww- Revenue comparison

Despite the growth in number of users, Zerodha's revenue is five times that of Groww. During FY 23, Zerodha reported a 39 per cent growth in revenue at Rs 6,875 crore compared with the previous financial year.

Can I trust Groww app?

Amidst this, people often wonder whether the Groww app is safe or not, which we believe is a genuine concern. Well, to clear all the clouds of doubts, yes, Groww is the safest platform you could use to invest and grow (rather Groww) your financial standings.

Are mutual funds 100% safe?

Mutual funds are largely a safe investment, seen as being a good way for investors to diversify with minimal risk. But there are circumstances in which a mutual fund is not a good choice for a market participant, especially when it comes to fees.

Which platform is best for mutual funds?

Best App for Mutual Fund
  • Groww (SIP calculator)
  • ETMONEY Mutual Fund App (goal-based investing)
  • myCAMS Mutual Fund App (portfolio tracker)
  • KFinKart – Investor Mutual Funds (family account)
  • Zerodha Coin (direct mutual funds)
  • PayTM Money Mutual Funds App (instant redemption)
  • Moneycontrol App (live market updates)

How do you know if a mutual fund is good or not?

6 Parameters to Analyze Whether a Mutual Fund is Right for You
  1. Expense Ratio. The expense ratio is the percentage of total assets that a mutual fund charges an investor annually for managing their money. ...
  2. Fund Performance vs Benchmark Performance. ...
  3. Risk Level. ...
  4. Fund's History. ...
  5. Portfolio Turnover Ratio. ...
  6. Fund Manager.
Oct 5, 2023

What are the problems with mutual funds?

Just as with stocks and bonds, mutual funds generally have market risk, meaning that prices can fluctuate up and down. They also have principal risk, which means you can lose the original amount invested. Remember that investments cannot guarantee growth or sustainment of principal value; they may lose value over time.

What are the problem of mutual fund in India?

Problems of Mutual Funds

Series of crisis, scandals and frauds. industry. In India, low investors awareness/ information level and financial literacy are causing biggest threats to mutual funds industry in channelising the household savings into mutual funds.

Why not to invest in mutual funds?

Mutual funds come with many advantages, such as advanced portfolio management, dividend reinvestment, risk reduction, convenience, and fair pricing. Disadvantages include high fees, tax inefficiency, poor trade execution, and the potential for management abuses.

Do we lose money in high risk mutual funds?

Since equity mutual funds are market-linked2, they can be volatile. This means if the market goes up, they will generate higher returns, and if the market goes down, it can create chances of loss in mutual funds. When individuals notice mutual fund loss, they start panicking and making hasty decisions.

Which mutual fund gives best returns?

List of High Risk & High Returns in India Ranked by Last 5 Year Returns
  • PGIM India Midcap Opportunities Fund. ...
  • Tata Midcap Growth Fund. ...
  • Kotak Emerging Equity Fund. ...
  • HSBC Midcap Fund. ...
  • UTI Mid Cap Fund. EQUITY Mid Cap. ...
  • Axis Midcap Fund. EQUITY Mid Cap. ...
  • DSP Midcap Fund. EQUITY Mid Cap. ...
  • Mirae Asset Midcap Fund. EQUITY Mid Cap.

Who is the owner of Groww?

In 2016, four Flipkart employees – Lalit Keshre, Harsh Jain, Ishan Bansal and Neeraj Singh, quit their jobs to start a venture that could make investing easy. They called this venture Groww and started operations In 2017.

Where should I invest in Groww app?

Best Stocks to Invest in 2024
S.No.Top 5 Shares to Buy Today
1.Reliance Industries
2.Tata Consultancy Services
3.HDFC Bank
4.Infosys
1 more row

Who is the broker for Groww?

Groww is registered with SEBI as a stock broker in the name of NextBillion Technology Limited. Groww is also a member of the NSE, BSE, and CDSL depository. Groww is an online discount broker with a simple pricing model based on a flat fee.

Is Groww app legal in India?

Groww is a registered SEBI broker and, an AMFI registered mutual fund distributor. Hence all its transactions are constantly monitored and reviewed by SEBI, ruling out any foul play. Moreover, the Groww mutual fund transactions are done via BSE, thus making monetary transactions completely safe.

How many people use Groww app in India?

As of December 2023, Groww has over 40 million customers on its platform across 900+ cities in India. It witnessed 200% growth in first-time customers when the pandemic hit during 2020. As of 2021, 60% of users on the platform were from outside the top six cities in India.

Which brokerage is best in India?

4 Best Stock Brokers In India
Stock BrokerBrokerage ChargesBest Known For
ICICI Direct0.55%Instant payout and advanced trading tools
ZerodhaZeroCompetitive brokerage rates and excellent customer service
Groww₹20 or 0.05%, whichever is lowerBest for mutual fund investments
1 more row
Nov 27, 2023

Is Groww really free?

Is Groww free? Groww is free for mutual fund investments with no transaction charges, no redemption charges, or any other hidden charges. Groww also offers free account opening with zero maintenance charges. However, investing in stocks through Groww is not free.

Which app is safe for investment?

Comparison of the Best Trading Apps of India
ApplicationForbes Advisor India RatingBest For
IIFL Markets Mobile App4.0Both Beginners and Seasoned Investors
MO Investor4.0Investing in Equities and MFs
Edelweiss Mobile Trading App4.0Advance Market Analysis
Paytm Money3.5Both Investors and Traders
6 more rows

How does Groww make money?

Groww generates revenue through multiple channels. While basic features and access to the platform are free, the company offers premium features such as advisory services, tax planning, and investment planning, which are available at a nominal fee.

References

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