Groww dethrones Zerodha as India's largest stockbroker with 66.3 lakh clients (2024)

FAQs

How did Groww overtake Zerodha? ›

How did Groww surpass Zerodha in terms of customers? Venture capital-backed platform Groww has gained popularity as it does not charge customers for account opening or annual maintenance. The company also spends a lot on customer acquisition, unlike Zerodha.

Zerodha, Upstox, and ICICI Direct secure top positions in the list of stock brokers in India with the highest active clients, a testament to their popularity and credibility.

Listen to This Article. Brokerage firm Groww emerged as the largest broker in India with market share of 23.4 per cent and an active client base of 9.5 million in Financial Year 2023-24 (FY24).

Groww offers to invest in US Stocks, Gold, and Fixed Deposits other than Equity and F&O whereas, Zerodha provides Equity, Commodity and Currency trading. Zerodha facilitates call and trade services whereas, Groww does not provide Call and trade facilities. NRI Trading is available with Zerodha but not with Groww.

Who Owns Groww : Founders, Promoters, Investors, and Other Details. 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.

A billionaire may use some or all of these services, but for buying stocks, they may use a prime brokerage specifically to borrow securities for short selling (making money from stocks when they go down) or borrowing large amounts of money to buy stocks on margin.

What stock broker do millionaires use? ›

What brokerage firms do billionaires use? Many very wealthy individuals use the top brokerage firms, such as Fidelity, Schwab, Vanguard, and TD Ameritrade, among others. They invest in private equity and hedge funds.

Zerodha is India's number 1 discount broker offering free equity and mutual fund investment, Rs 20 flat brokerage trading, and user-friendly Kite trading platform. Groww is the top broker for beginners to invest in direct mutual funds for Free and trade in stocks at a Rs 20 flat fee!

Groww, a seven-year-old financial services platform, usurped Bengaluru-headquartered Zerodha to become the largest brokerage in India in terms of the number of active investors.

Disclaimer: Groww Asset Management Limited (formerly known as Indiabulls Asset Management Company Limited) Investment Manager to Groww Mutual Fund (formerly known as Indiabulls Mutual Fund) vide SEBI letter dated May 30, 2023 received the approval for change in name of Indiabulls Mutual Fund to Groww Mutual Fund and ...

Groww overtook Zerodha in the number of active traders in September, with 6.6 million such customers against the rival's 6.4 million. In the three months since, Groww has grown its active trader base by a million, while for Zerodha, the expansion was by 300,000 users.

On top of that, they only charged a flat fee of ₹20 on every trade, irrespective of its size, with zero brokerage fees and an annual maintenance fee of ₹300. This disrupted the whole brokerage industry. Zerodha did what other traditional brokers couldn't do.

Groww mainly earns revenue from brokerage and other allied services, and other operating revenue from interest on deposits. Costs for Groww include employee-benefit expenses, followed by advertising and marketing, and technology.