Groww's Pricing Scam - be aware - Hidden brokerage fees
Dont buy order value less than Rs. 2,000 in groww! (check your groww's transaction history)
I've noticed a lot of new and first-time investors using Groww, so I’m posting this to raise awareness about a recent, somewhat sneaky, brokerage price change that Groww implemented without notifying users directly. It’s something all Groww users should be aware of to avoid unexpected fees.
Context:
Groww recently introduced a minimum brokerage fee of Rs. 2 per executed order. Their pricing page states a maximum of Rs. 20 or 0.1% per order (whichever is lower), with the addition of this new minimum of Rs. 2. [same for intra trade as well]
The issue? This change isn't reflected in the brokerage calculation on the order detail page or in Groww's brokerage calculator, which only displays the brokerage as 0.1%, leaving many users unaware of the actual cost of small trades.
Why This Matters:
To make the most of this fee structure, your order value should be at least Rs. 2000. For orders below Rs. 2000, the brokerage fee of Rs. 2 can really add up over time, particularly for small investors.
Every time someone places an order below Rs. 2000, they might assume they’re paying only 0.1% in brokerage, but the actual fee is Rs. 2. Like many others, I regularly buy stocks in smaller amounts (under Rs. 2000) each week, and I was shocked to find my monthly brokerage fees exceed Rs. 300! I can only imagine how many others may be similarly unaware. This pricing is also noticeably higher compared to other platforms.
Example for reference:
so If your using Groww, try place order value above 2K, definitely avoid buying single shares to save money to buy penny multibagger shares :)
I’ve reached out to Groww support about this, but so far, I haven't received a proper response.
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On a serious note, regulators should implement laws to ensure users are properly informed of any pricing changes, especially those affecting every transaction. Groww could have shown a pop-up requiring user acknowledgment to notify them of this change, and they definitely need to fix the miscalculated brokerage estimations. I also wonder what users would do if Groww suddenly started charging for account maintenance (AMC) as well—that would be quite a shock.
P.S: That said, I do appreciate Groww's user-friendly interface. and I hope they address these issues and maybe reduce the brokerage fees. In the meantime, Zerodha’s new pricing is for the win, so I’ve opened an account there too.