Groww vs Angel One Charges: A Comprehensive Comparison

What is Groww?

Groww is a relatively new player in the brokerage industry but has quickly gained popularity due to its user-friendly interface and seamless experience. Primarily catering to millennials and first-time investors, Groww offers a range of investment options including stocks, mutual funds, and more recently, digital gold and US stocks. Please check out our article about Groww Review to learn more about its features and benefits.

What is Angel One?

Angel One, formerly known as Angel Broking, is a veteran in the Indian brokerage industry. Established in 1987, it has evolved to offer a robust online trading platform alongside its traditional brokerage services. Angel One caters to a wide array of investors, providing services in stocks, commodities, currencies, mutual funds, and more. Please check out our article about Angel One Review for an in-depth look at their offerings and services.

Account Opening Charges

Groww Account Opening Charges

One of the major advantages of using Groww is its zero account opening fee. Groww does not charge any fee for opening a Demat and trading account, making it an attractive option for new investors.

Angel One Account Opening Charges

Angel One, on the other hand, charges a nominal fee for opening an account. As of the latest updates, the fee for opening a Demat and trading account with Angel One is ₹299. While this is not a significant amount, it is a cost to consider when comparing the two platforms.

Annual Maintenance Charges (AMC)

Groww AMC

Groww charges an annual maintenance fee of ₹25 per month, which amounts to ₹300 annually. This fee is applicable to the Demat account, and there are no maintenance charges for the trading account.

Angel One AMC

Angel One also imposes an annual maintenance charge on its Demat account. The AMC for Angel One is ₹450 per year, making it slightly higher than Groww's AMC. However, they do offer promotions and waivers occasionally, which can reduce this cost.

Brokerage Charges

Groww Brokerage Charges

One of the standout features of Groww is its flat brokerage fee. Groww charges a flat fee of ₹20 or 0.05% per executed order, whichever is lower, for equity trades. This applies to both intraday and delivery trades, making it simple and straightforward for investors to understand their costs.

Angel One Brokerage Charges

Angel One has a more traditional brokerage structure, with different rates for intraday and delivery trades. For intraday trades, Angel One charges 0.03% of the transaction value. For delivery trades, the charge is 0.25% of the transaction value. Additionally, Angel One offers a discount brokerage plan called Angel iTrade Prime, which charges a flat fee of ₹20 per trade for all segments, aligning more closely with Groww's pricing.

Intraday Trading Charges

Groww Intraday Charges

For intraday trading, Groww maintains its flat fee structure, charging ₹20 or 0.05% per executed order, whichever is lower. This simplicity is appealing to active traders who execute multiple trades a day.

Angel One Intraday Charges

Angel One's standard plan charges 0.03% of the transaction value for intraday trades. However, under the Angel iTrade Prime plan, this is reduced to a flat fee of ₹20 per trade, making it competitive with Groww.

Delivery Trading Charges

Groww Delivery Charges

Groww's delivery trading charges are straightforward, with a flat fee of ₹20 or 0.05% per executed order, whichever is lower. This flat fee model simplifies cost calculations for long-term investors.

Angel One Delivery Charges

Angel One charges 0.25% of the transaction value for delivery trades under its standard brokerage plan. For investors under the Angel iTrade Prime plan, the fee is reduced to a flat ₹20 per trade, providing significant savings for higher-value transactions.

Margin Trading Facility (MTF) Charges

Groww MTF Charges

Groww offers a margin trading facility, allowing investors to trade with leverage. The interest rate for margin trading on Groww is 18% per annum, which is applied to the amount utilized.

Angel One MTF Charges

Angel One also provides margin trading facilities with an interest rate of 18% per annum. Additionally, they offer different schemes and promotions that might lower the effective interest rate for frequent traders.

Mutual Fund Investment Charges

Groww Mutual Fund Charges

One of the most attractive features of Groww is its zero commission on mutual fund investments. Groww does not charge any fee for investing in mutual funds, making it a cost-effective platform for mutual fund investors.

Angel One Mutual Fund Charges

Angel One also offers zero commission on mutual fund investments, aligning with the industry trend of promoting direct mutual fund plans. This makes both platforms equally appealing for mutual fund investors.

Additional Charges

Groww Additional Charges

Call & Trade: Groww does not offer a call & trade facility, which might be a limitation for some users.
Pledge Charges: ₹20 + GST per pledge.
Dematerialization Charges: ₹150 + GST per certificate.
Rematerialization Charges: ₹25 per certificate or 0.05% of the value of securities, whichever is higher.

Angel One Additional Charges

Call & Trade: ₹20 per executed order.
Pledge Charges: ₹20 + GST per pledge.
Dematerialization Charges: ₹20 per certificate.
Rematerialization Charges: ₹10 per certificate or 0.04% of the value of securities, whichever is higher.

User Experience and Platform Features

Groww User Experience

Groww is designed with a modern, intuitive interface that is particularly appealing to younger, tech-savvy investors. The mobile app is highly rated for its ease of use, seamless navigation, and comprehensive features. However, some advanced traders might find it lacking in detailed analytical tools.

Angel One User Experience

Angel One offers a more robust platform with a range of advanced features suitable for experienced traders. The Angel One mobile app and web platform provide comprehensive market data, detailed analytics, and a wide range of trading tools. However, new investors might find the interface slightly complex compared to Groww.

Customer Support

Groww Customer Support

Groww provides customer support through email and in-app chat, but does not offer phone support. The response time is generally quick, and the support team is known for being helpful and efficient.

Angel One Customer Support

Angel One offers multi-channel customer support, including phone, email, and live chat. This makes it easier for users to get help promptly. Their extensive network of branches also provides the option for in-person assistance, which can be beneficial for some investors.

Conclusion

Choosing between Groww and Angel One depends largely on your individual needs and preferences. Groww is ideal for new investors and those looking for a straightforward, low-cost trading experience with a user-friendly interface. Its flat fee structure and zero commission on mutual funds make it particularly appealing.

Angel One, with its extensive experience in the brokerage industry, offers a more comprehensive suite of tools and services. It caters to both beginners and advanced traders, with flexible brokerage plans and superior customer support. While the account opening fee and AMC are slightly higher, the additional features and support might justify the cost for many investors.

In summary, both Groww and Angel One have their unique strengths and cater to different segments of the market. Evaluate your trading style, investment needs, and preferences to choose the platform that best aligns with your financial goals.