How to buy shares in groww app

You may have heard before that only 2% of Indians are there who are investing and trading lovers and actually invest in the stock market. But, this percentage seems to be boosting day by day as the whole system of trading is switching to the online platforms. The ease and solace of online trading has led a huge number of Indians to somewhere rely on their earnings from such investment activities. 

One of the trading platforms of India which is swiftly increasing it’s customer base day by day is none other than growing apps. Have you heard of the grow app? 

Well, Groww is an online investment platform based in India that mostly targets first-time investors and millennials. The headquarters of the groww app are in Bangalore, it enables investors to open an account electronically and transact in mutual funds and stocks online. As in June 2018, Groww had partnered itself with the 34 mutual fund houses and around 5000 mutual funds were accessible on the platform. As of Sep 2020, with 8 million users, the company had raised $59 million in venture capital. 

But as mentioned, most of the users of the grow app are none other than the new learners, therefore they face a hell lot of difficulty in using the platform, though it is an easy one. They face this difficulty mostly because they don't understand those typical technical terms. So, to obviate this dilemma , we came up with this article that covers the problems like how to buy shares in the grows app. So, lets begin!! 

How can one open a demat account on the grow app? 

Firstly, you are required to open a demat account with groww app, if you want to buy the shares from the platform. Follow the below mentioned steps for the same. 

Step 1- Log in to the Groww app. Below the ‘Stocks’ tab, click on the ‘ complete setup’. 

Step 2- Click on the ‘Open Stocks Account‘ to continue. The account opening charges on Groww are zero. Great right? Now,  For other charges please click on the‘See all charges’. Once you go through all the charges and decide to pay the applicable charges, click on the ‘open Stocks Account’. 

Step 3- now, Enter details about your occupation, income, mother’s as well as father’s name to complete the KYC process. Then, Verify the correctness of the details and click on the ‘Next’ to proceed. 

Step4- Enter your trading experience from the drop-down list and then simply click on ‘Next’ once done. To proceed. 

Step 5- the next is uploading your signature. Take a picture of your signature on a plane white sheet from the option in the app. If you are satisfied with the picture of you signature then click on ‘looks good' and proceed. It is an important step. 

Step 6- This step includes Aadhaar based e-sign. In this process, you have to submit your Aadhaar number to the e-sign service and will receive an OTP on the registered mobile number linked to your Aadhaar. To e-sign, click on ‘E-SIGN AOF’. (AOF) will be sent to the registered email ID. Print the form, read the details carefully, sign at the mandatory places and courier the form to the address mentioned on the screen. Upon verification of the form, you will be informed and your account will be activated then. 

Step 7- If your given mobile number is linked to Aadhaar, then enter the OTP/security code sent to your given mobile no. and click on ‘Submit’. 

Step 8- Now you just have to Read the Demat account opening form carefully and click on ‘Sign Now’ to proceed further. 

Step 9- You will be supervised to NSDL electronic signature service. Just enter your Aadhaar number or Aadhaar virtual ID in the space provided, and therefore click on the ‘Send OTP’ button. Enter the OTP to finalize the e-sign process. 

Now you have signed in successfully and now you can start investing. 

How to buy shares on groww app?  

For buying a share, on the home screen ( under the stocks tab), all the necessary information such as Nifty and Sensex live updates, filters like top gainers and top losers of the day will be available. . Companies are also categorized according to the market cap and sectors on the landing page clearly. There you will get a search or navigation bar where you could simply enter the name of the stock you are hoping to invest in.

Once you click on the stock of your choice, you will be supervised to it’s product page. On Groww platform, investors can view all information and  Data of a stock and the business on a single screen. This encompasses historic achievement of a stock, opening and closing price for a day , the amount of buy/sell orders, company statistics and financial ratios, company information, financial statements, shareholding pattern, and peer comparison. The app also enables investors to place a market or limit order as well as assess the bid/offer spread of the stock. All the vitals of a company are illustrated in a tabular or graphical setup for your clarity. 

You can check how the stock has performed over a period of time to assess it’s growth pattern. You can also toggle to candlestick charts if you are an intraday trader. 

Once you check  all the fundamentals and company details, you can simply place your market or limit order for delivery or intraday in the order card that is shown on the right hand side. You could also place a stop loss order for some of your trades by going to ‘ Advanced Options’. 

Now, You will be able to see your order summary and order status. Once the shares are credited to your Demat account, you would then  be able to trace their performance on the dashboard. You would get a clear view of your investments. 

Note: You can read more about Groww Review which is based on Honest Opinion.

Conclusion 

As mentioned above, India is swiftly moving in the direction of becoming a great financially literate country. This has been possible due to the introduction of such online trading platforms only. There are many trading platforms in India, and groww app Is just one among them. 

Groww app mainly focuses on those individuals who are new into the market and want to learn a lot about the working mechanism of the stock market. 

Surely, groww app is the platform of the future. It shows us how stock trading would work in the future. 

If you are also an enthusiastic beginner in the investment world, then this is the time to make your demat account and start trading by today itself. 

Happy (and smart) investment!!