Groww Vs Fyers – Find Out Who Is Best Broker For Trading and Investing In 9 Points

  • Post category:Stock Market
  • Reading time:28 mins read
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  • Post last modified:November 12, 2022

If you looking for trading and investing in stock market than Groww Vs Fyers review and comparison will tell you the best broker among them. But why one would even choose this 2 stock brokers groww and fyers as they seem to be somehow new in the industry at first place.

It is because believe me or not but Groww and Fyers both have evolve in last 4 to 5 years as some of the best stockbrokers in the current league.

On one hand Fyers is giving the tough competition to Zerodha and Upstox in terms of best trading platform, lowest brokerage structure whereas on the other hand Groww is helping users more in investing features such as mutual funds SIP, FD, Gold, US stock etc.

I mean every one has a choice whether they want more trading rather than investing features in a stockbroker and vice-versa, therefore one should know which stock brokers have more upper edge in a particular niche.

Yes, we will going to discuss and compare the Groww and Fyers on all parameters such as brokerage, web/desktop based trading platform (Groww App vs Fyers Mobile App), account opening charges, customer service, margin and lot more products and services both stock broker offers to its clients, but another thing to learn about is entrepreneur skills.

The reason I am saying that is because both the companies Groww and Fyers is very new to stock broking industry but they have made a significant place where we have more than 250+ sock brokers as per the latest NSE data.

But before we begin let me brief you about a quick fact about both stock brokers i.e. the number of active clients and total clients as of according to the latest NSE Data.

Groww have about (2.6 million )26,51,472 active client list whereas Fyers with more than 1,24,254 active clients.

I know the difference is huge but one need to know that, Groww established 5 years ago i.e. 2016 first as a mutual fund distributor and in 2019 they made debut in stock broking. All its prior users from mutual funds have been merged in broking segment automatically.

Whereas Fyers grown organically as hardcore broker focusing more on trading, Looking at this number it does shows the trust they have created for users in their products and services.

Just to let you know, you can read the detailed review of Fyers Broker here, similarly checkout the complete Review of Groww here.

So without further delay, let us start first with Groww Vs Fyers overall review in 11 brief points and later below you can check them in detailed guide if you want.

Just to let you know the post may be little long as it covers all aspects of the Groww and Fyers stock broker in detail, you can move through table of contents for the info you are looking.


Groww Vs Fyers Broker Overall Comparison:

I have already used both stock broker services as well as wrote the reviews about them in detailed way separately, based on my experience and facts below are things you can consider before opening an account with them.

  1. Fyers and groww both have fantastic trading platform for desktop/mobile app, you can do fundamental as well as technical analysis quite easily.
  2. Groww have also partnered with third party service integration as well such as Tickertape, Smallcase for portfolio based investments, whereas Fyers runs their own Thematic Investment platform for users to invest in portfolio based investment.
  3. Fyers brokerages are little lower than Groww, they charge in equity Rs.20 or 0.03% (whichever is lower) Groww charges Rs.20 or 0.05% (whichever is lower). Fyers also do not charge any brokerage for delivery based trades where as with groww the brokerage charges is same as intraday.
  4. Groww and Fyers both offers brokerage or say commission free mutual funds investment and platform for its users.
  5. Account opening charges as well as AMC (Annual Maintenance Charges) is Zero for Groww, whereas Fyers for a limited time period is also not charging for account opening and AMC.
  6. You can expect good customer service from both stock brokers.
  7. With Groww you can make investment in Gold, Fixed deposit US stocks such as Apple, Amazon, Google etc. online using Groww platform whereas Fyers does not have this facility as of now.
  8. As of now you can only trade and invest in stocks (equity) and FNO segment at groww, Commodity, Currency segments are yet to be launched, whereas with Fyers you can trade and invest in all segments.
  9. Other than this you can make investment in Initial Public Offerings (IPO), Sovereign gold bonds (SGB), Exchange Traded Fund (ETF), with both stockbrokers.
  10. If we talk about Margin at Groww vs Fyers, after SEBI Rules on Intraday margin every stockbroker is giving same margin 5x throughout India, hence this does not matter anymore.
  11. There are no payment gateway charges at Groww with Fyers they have also removed this couple of days back.

If you are thinking with whom to go with, then it depends upon your need i.e. to say if you are more of a trader doing intraday trading on regular basis from morning till market close than go with Fyers.

However if you are less of a trader and more of an investor for short, medium or long term, than you can choose Groww without any doubt. You can also make investments in US stocks, as well as other financial products such as digital gold, fixed deposits.

Moreover, with both Groww and fyers there are no charges for opening account as well as AMC so nothing to loose at all. You can open account depending upon your needs.

You can Open a free Groww trading/demat account with Zero AMC 

Open Free Trading/Demat/Mutual Fund Account With Fyers Online Within minutes with no AMC for a limited time period here.

Now, let us go dive deep to cover all different services and features of Grow and Fyers step by step and see who is best between both discount brokers by doing in depth analysis.


About Groww Vs Fyers Broker:

Before we dig deeper to understand the various services offered it becomes utmost import to know in brief about Fyers and Groww history.


About Groww Vs Zerodha:


Harsh Jain is the Co-Founder & COO of Groww, he was also the product manager earlier with flipkart. Groww is based in Bangalore, Karnataka, Here is interesting fact about groww very few people know, the company use Groww as a brand name although it is registered by name Nextbillion Technology Private Limited.

Groww operates as an online investment platform and offers mutual funds, tax planning, investment management, and financial information services. As of now you can trade and invest in only stocks (equity), derivatives i.e. FNO, Commodity, Currency segment is not available yet.

Moreover, groww also offers Digital gold, US Stocks, and Fixed Deposit as other investment options apart from stock broking. Groww has partnered with CDSL to provide the depository services to clients.

Groww offers trade execution facilities for equity cash segments on BSE and NSE. 

Groww founded in 2016, and had initially started as a direct mutual fund investment platform for users. By the time they have crated immense popularity among users in the mid-2020s, Groww expanded its product offering to include Equity trading.

As of April 2021, Groww had partnered with 40 mutual fund houses and more than 6000+ mutual funds were available on the platform. As of Sep 2020, the company had raised $59 million in venture capital an now have more than 11 million users on its platform.

This year on 7, April 2021, Groww has raised $83 million in a Series D funding round led by Tiger Global, making the online investment platform the latest entrant in Unicorn list.

Groww is also backed by some of the well know investor companies such as Ribbit Capital, SEQUOIA, Combinator etc.

You can Open a free Groww trading/demat account with Zero AMC 


About Fyers Vs Upstox:

Established in Aug, 2015 fyers is a discount broker co-founded by Tejas Khoday, who is also the CEO of the company. Tejas khoday, does have an interesting background before founding the fyers. He has worked with Zerodha, a leading discount broker in India in 2011.

Of-course he has worked with several other companies after that and also as an investment advisor, managing portfolios and advising clients on various investment.

Fyers is registered at SEBI by Fyers Securities Pvt Ltd, headquartered in Bangalore and member of all three major exchanges, NSE, BSE, MCX in India.

As of today fyers have more than 100,000 + clients and more than Rs. 6000 Cr. Daily turnover across NSE, BSE & MCX within a span of just 4.5 years of launch.

Many say they will be going to give tough competition to zerodha in future looking at their growth and technological advancement in tools and resources.

After experiencing their services I have no doubt about the bright future of this company at all.

Open Free Trading/Demat/Mutual Fund Account With Fyers Online Within minutes with no AMC for a limited time period here.


Groww Vs Fyers Broker Margin Comparison:

Margin in stock market refers to buying/selling of securities (shares) by borrowing money from your broker. This is very much similar to taking loan for short period of time. This helps traders in buying or selling more with less money in intraday trading.

If you are an active trader or a beginner who knows what exactly going on with recent changes brought by SEBI, Higher Margin won’t be a factor anymore, now the competition among the broking industry is in terms of better trading platforms and lower brokerages plans.

The upfront margin collection in cash segment has been kept at flat 20%, which means now the leverage for all stocks would be 5x also the penalty provision for short-collection/ non-collection of upfront margin in cash segment.

This means regardless of any broker you won’t get more than 5X times margin in equity cash segment and in FNO you need to have the full margin span+exposure to take any position.

You can read more about it here.

Therefore, the margin or leverages offered will be equal irrespective of the stock brokers in India going forward. Keep in mind this also applies to Currency and commodity derivatives as well.

For example: if there is a 20% margin requirement on a particular stock, then you will have to pay only Rs.20 to buy a stock of Rs.100. Another way to look at it is that if you have Rs.100, you will be able to buy five stocks instead of one.

Hence, the margin requirement will be same for all brokers including Groww and Fyers for intraday trading in equites and derivatives.

One need to understand taking more margin means more risk and chances of your money getting wiped out is even more, so it is always advisable to use it in limited way.

So going forward please choose stock broker not in terms of margin or leverage as it is same for all brokers through out India.


Groww Vs Fyers Brokerages Comparison:

Brokerage is the most important factor when you trade and invest, both Fyers and Groww have quite low brokerages.

Let us know brokerage for both discount brokers one by one.

Groww Brokerage Structure:

At groww the brokerage charges are Rs.20 or o.o5% (whichever is lower) on every order executed.


Groww Review On Brokerages


What they mean is, suppose you bought stock xyz priced at Rs.100, quantity 100 on intraday basis,

so the total turnover would be bought 100, sold 100 (100*200)=  20,000 on this amount they will charge either whichever amount is lower as 0.05% of 20000, is Rs.10 so they will charge that instead of flat Rs.20.

Below is the screenshot taken from Groww brokerage calculator for intraday trading.


Groww Review On Brokerages


Whereas brokerage charges if you do investment i.e. taking delivery of the stocks to your demat account or doing Buy today sell tomorrow (BTST) trades the brokerage charges are same as of above.

You can Open a free Groww trading/demat account and get Rs.100 as a one time offer when you open through this link.


Fyers Brokerage Structure:

Fyers charge no brokerage for equity delivery based trades as well as zero charges for any investment in pre-build portfolios which is called as thematic investing at fyers. We will later discuss about the thematic investing.


Fyers Review On Brokerage


Whereas for intraday trades across equity, currency futures, commodity futures, it is Rs.20 or 0.03%(whichever is lower).

What they mean is, suppose you bought stock xyz priced at Rs.100, quantity 100 on intraday basis,

so the total turnover would be bought 100, sold 100(100*200)=  20,000 on this amount they will charge either whichever amount is lower as 0.03% of 20000, is Rs.6 so they will charge that instead of flat Rs.20.

So, Overall Fyers is still charging lower brokerage in comparison to groww brokerages.

Open Free Trading/Demat/Mutual Fund Account With Fyers Online Within minutes with no AMC for a limited time period here.


Groww Vs Fyers Account Opening Charges:

To open a trading/demat account at Groww there are no charges Rs.0 if you open an account through this link, Whereas the Annual Maintenance charge (AMC) is also kept at Zero.

As a one time offer you will also get Rs.100 if you open an account using this link.

Moreover there is 0% commission charges for investing mutual funds through Groww Platform. As compare to other stock brokers, they may charge some AMC charges for maintaining the account yearly, whereas Groww is not charging anything, this makes them apart for sure.

If we talk about Fyers are no Account opening charges at Fyers for a limited time period 

However AMC (annual maintenance charges) of ₹ 300 + GST will be levied per annum.

This amount will be debited from your Trading Account Ledger on a quarterly basis. Each quarter, an amount of ₹75 + GST (₹88.5) will be debited from your FYERS account.

Recently, Fyers is not charging even for AMC for a limited time period.


Groww Vs Fyers Broker Account Opening Process Online:

The account opening process is online and it’s very seamless and smooth. Here is what you need to do:

To open an account with Groww online for free, you can sign up using your mobile number through this link.

Similarly, To open an account with Fyers online for free, you can sign up using your mobile number through this link.

You will receive an OTP to your number and you can get started with the process.

You will be required to enter your PAN, Bank account details and personal details to continue with the sign-up.

Once you sign up you need to upload certain documents listed below:

1. Your PAN card

2. Your Aadhaar

3. To complete the e Sign process, you will have to authenticate it with an OTP. So, make sure you have the number linked to your Aadhaar handy. If not, you will not be able to complete the process. If the number linked to your Aadhaar is inactive, or if you don’t have any number linked, then you can visit your nearest Aadhaar Seva Kendra to get it updated.

4. A photo or scanned copy of your signature proof will be required to be uploaded.

6. Income proof
It is mandatory to submit income proof if you wish to trade in Futures and options – Equity, Commodity, and Currency.  You can submit one of the below documents.

  1. Form-16
  2. Income tax returns acknowledgment
  3. 6-month Bank statement
  4. Latest salary slip
  5. Demat holding statement, or
  6. A CA certifying your net worth

Note: The documents mentioned are for a Resident Individual Account.


Groww Vs Fyers Trading Platform Comparison:

Groww offers two platform from where users can trade and invest.

Moreover, the trading platform seems to provide in-depth of financial or say good for doing fundamental analysis as well as technical analysis features.

  1. Groww Web based Trading Platform
  2. Groww Mobile App for Android and OS

There are no downloadable version for desktop available for trading as of now with groww. Having said that let us review both stock broker trading platform separately to see more.

Groww Web Based Trading Platform:

The web based version at groww is quite clean and well designed, as the UI (user interface) looks dynamic and smooth.

Talking in terms of what is unique about the platform specially in respect to  trading and investing, Groww platform offers great financial analysis for every stocks including the one listed in US (Nasdaq).

Checkout the image below to know more:


Groww Review On Trading Platform


As, you can see in above image on left they have given the space for seeing charts sowing current trading price of stock in market, which includes candlestick charts  with volumes patterns overtime,

You can see the historical data for up to 5 Years or more. On the right side of the screen you can easily place the intraday or delivery trades in a click.


Groww Web Based Trading Platform


If you go downwards you can see other great financial insights such as performance of stock, other different brands of that company, About the company and lot more.


Groww Web Based Trading Platform



company statistics such as, Profit & loss, balance sheet of company, cash flows, P/E ratio (price to earning), P/B ratio (price to book) Book value etc. are one click away on groww web based trading platform.


Groww Review - Brokerages, Charges, Platform, Mutual Funds, App Reviewed


Now, I understand that Groww first being a investment platform for users have great financial information for users moreover if you are someone who loves doing intraday based trading it does requires technical indicators, tools and other resources, which at groww web based version is also available.


groww vs zerodha trading platform


So, If you are someone who do trading and investing for short, medium or long term, Groww has everything in place for you. You will see more new features gets added and also the downloadable trading platform version in future.

You can Open a free Groww trading/demat account with Zero AMC


Fyers Trading Platform: 

Fyers have one of the best trading platforms for traders and investors in India, in this section we will discuss all the trading platforms by looking inside them and seeing how they function. Fyers have three major trading platform

FYERS ONE – It is a desktop based trading platform, which means you can download the software and can install it on you PC or laptop. You can use it by logging in through client id and password given after account opening.

FYERS WEB – It is a is a web or say browser based trading platform, which can be opened on any web browser you use. Just like a website but with all the tools and resources needed.

FYERS MARKETS – It is a mobile based app,  you can use and place your trades in mobile itself instead on logging to your desktop or laptop.

Let us see Fyers web based trading platform and it’s functionalities.

Fyers web is a web or say browser based trading platform, which can be opened on any web browser you use. Just like a website but with all the tools and resources needed.

Let us know more about it.


FYERS Web Based Trading Platform


As, you can see in the image above fyers web design is clean and compact, they have tried to keep everything simple and on a click.

On right you see watch-list, which you can create or use predefined list as given below:


FYERS Web Based Trading Platform


There are lot of thing you can do just by a click look at the image below if you right click on chart of any stock or index it gives you lot of options.


Fyers Review On Margin Brokerages Trading Platform - Complete Guide 2020


I have checked the fundamentals of a HDFC Bank, so if you are doing investing for a long term no need to go to any other website all the major information will be available within the trading platform.


FYERS Web Based Trading Platform


This is for technical analysis, for intraday and short term traders, you can see probability of a stock to move in which direction and than can make a concrete decision for placing your trades.


Fyers Review On Margin Brokerages Trading Platform - Complete Guide 2020


As the different charting tools and indicators in fyers one similarly all the major, minor indicators are present, Moreover you can popup the chart and do your analysis on a different tab.


Fyers Review On Trading Platform


Want to draw trend-lines or mark any important area, draw with the resources given on the left of the chart and apply them.


Fyers Review On Trading Platform


Open Free Trading/Demat/Mutual Fund Account With Fyers Online Within minutes with no AMC for a limited time period here.

Overall, if you see Both Groww and Fyers have great tools and resources equipped in trading terminals for their users but Fyers trading platform is much more advanced than groww in terms of trading perspective.


My Opinion On Groww Vs Fyers:

I hope you have now thoroughly understood most of the services offered by Groww and  Fyers, if you ask me in Groww vs Fyers who is better?

Groww might be new in discount broking industry, but they do have more than 5 years of experience in providing a rich platform for users to invest in mutual funds scheme.

As we already saw they have more than 26.5 lakh+ active clients in stock broking and 10 million+ overall clients on the platform, this itself shows the trust it has developed among the users.

In my opinion they still need to do a lot to fulfill the stock broking requirements such as allowing, currency and commodity trading.

Having said that, I like their USP of allowing clients to invest in US, their strength in financial data for fundamental analysis, Free mutual funds investments.

If I have to rate Groww after looking at there breakthrough pricing model for brokerages as well as other charges and experiencing there simple yet great user interface for trading platform I would give it 8.9 out of 10.

Therefore, if you are someone who do more of investing and trading in stocks rather than any other segment Groww is the perfect choice for you.

There are no charges to open an account with groww plus no AMC plus No commission on mutual funds, so without any doubt one can open a demat and trading account.

So, go ahead and open an account using this link to get extra Rs.100 while you open an account at Rs.0 Now!!

I am still being harsh as it is a new company particularly in stock broking, but you may see the ratings may go higher with time in my opinion.

On the other hand, If we talk about Fyers

Expressing my opinion in terms of all technological tools, advanced platforms, robust management, margin brokerage:

I would rate Fyers 9.4 out of 10.

A company which is just 5.5 years old, have made itself a brand within this period. There are more than 250+ stockbrokers in India which are working from so long, but Fyers has created its own place.

In comparison to Groww its trading platform is better as well as brokerages structure is also kept little low.

This a significant example of how a startup should work, As I have already experienced the various services offered by fyers, I must say there are ahead in the race and will be in Best 5 stock broker position very soon.

Fyers has all services at one place and they offer free account opening so nothing to lose, You will not regret opening account with them at all.

To open an account with Fyers right away click on this link.

Best Stock Broker In India In 2022 – Caution You May Get Surprise After Seeing Them

If you are a beginner in trading and investing, please read this amazing guide on How stock market works in India?

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Note: Please do your own research and make investment. Moneycontain will not be responsible for any of your losses at all. The point made is for educational purpose only and intended to give information. All investments are subject to risks, which should be considered prior to making any investments.

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