Groww vs IDBI Direct – Compare Charges, Trading Features, Offers & more

The government and the stockbroker take a percentage of the fee for every trading transaction, typically known as transaction fees. There are several classes of transaction fees based on the stockbroker, your state, and other reasons. These fees impact your overall profitability.

For investors, the value of money is of utmost importance. Hence, selecting the ideal broker with the best features at a reasonable cost is crucial to optimizing your return on the given security.

Here, we will analyze brokerage charges, trading platforms, customer support, and customer testimonials on two renowned stockbrokers: Groww Vs. IDBI Direct

 
 

Groww vs IDBI Direct – Company Overview

Let us start with the introduction of the brokers –

  • Groww – Lalit Keshre founded Groww, a Private company headquartered in Bangalore, in 2016.
  • IDBI Direct - In 1993, Nagaraj Garla founded IDBI Direct, a Public company. The company's headquarters is in Mumbai.

Groww is a Discount Broker broker and IDBI Direct is a Discount Broker broker. In the past, traditional brokers in the investing world catered only to the wealthy. These stockbrokers provide a wide range of services, including personalized investment advice. They would help you in financial planning for a bright future.

But the tide has changed with the advent of technology. Now, all the facilities available with a traditional broker are also available with a discount broker, plus they charge a fixed rate or lower transaction fees. The bonus point is that you can start investing with just a minimal amount.

Groww vs IDBI Direct – A Comprehensive Company Overview and Comparison

Company Overview Groww IDBI Direct
Company Type Private Public
Broker Type Discount Broker Discount Broker
Headquarters Bangalore Mumbai
Founder Lalit Keshre Nagaraj Garla
Establishment Year 2016 1993

Compare the Brokerage of Groww and IDBI Direct

Every broker offers several brokerage plans, each with different benefits. Hence, the subscription charges also differ accordingly. The Standard or Regular brokerage plan is the default version given to all the users who open an account with the brokerage company.

The additional subscription charges for the standard or regular brokerage plan are usually zero, the same as Groww and IDBI Direct.

Equity — Equity is the unit of ownership in a company such as Infosys or HDFC Bank that you can buy through a brokerage company.

  • Equity delivery: If you hold your share (equity) for more than two days in your Demat account and sell it after that, a percentage of the gain will go to the broker. While Groww charges Rs.20 per Order or 0.05% (whichever is low) based on whichever is of the lower value, IDBI Direct charges 0.50% of Transaction Value per order equity delivery.

  • Equity Intraday: If you buy and sell your share (equity) during the same business day, generally from 9:15 a.m. in the morning to 3:30 p.m. in the noon, it is considered an intraday trade. While Groww charges Rs.20 per Order or 0.05% (whichever is low) based on whichever is of the lower value, Groww charges 0.50% of Transaction Value for equity intraday.

  • Equity Futures: Buying or selling shares (equity) at a specified date, amount, and price on a future date. While Groww charges Rs.20 per Order or 0.05% (whichever is low) based on whichever is of the lower value, IDBI Direct charges 0.50% of Transaction Value for equity futures.

  • Equity Options: Involve buying or selling a specific number of shares (equity) at a specified date at an already set (pre-determined) price, strike price, within a specified period. While Groww charges Rs.20 per Order per order, IDBI Direct charges Rs.50 per Lot per order for equity options.

Currency – Buying, selling, or exchanging foreign exchange, such as US dollars (USD) or Euros, in the forex market (foreign exchange market) through a brokerage company.

  • Currency future: These are like equity futures, but security is currency instead of equity. Buying or selling currency at a specified date, amount, and price on a future date. While Groww charges Rs.20 per Order based on whichever is of the lower value, IDBI Direct charges 0.05% of Transaction Value for currency futures.

  • Currency Options: These are like equity futures, but security is currency instead of equity. Currency options involve buying or selling a specific number of units on a specified date at an already set (pre-determined) price, strike price, within a specified period. While Groww charges Rs.20 per Order for currency options, IDBI Direct charges Rs.50 per Lot.

Commodity – If you buy or sell digital commodities (raw material or primary products, such as sugar, gold, or oil) on regulated commodity exchanges through a brokerage company.

  • Commodity future: These are like equity futures, but security is a digital commodity instead of equity. Buying or selling digital commodity at a specified date, amount, and price on a future date. While Groww charges Rs.20 per Order based on whichever is of the lower value, IDBI Direct charges 0.05% of Transaction Value for commodity futures.

  • Commodity Options: These are like equity futures, but security is a digital commodity instead of equity. Commodity options involve buying or selling a specific number of units on a specified date at an already set (pre-determined) price, the strike price, within a specified period. While Groww charges Rs.20 per Order for commodity options, IDBI Direct charges Rs.50 per Lot.

Groww vs IDBI Direct - A Detailed Brokerage Comparison

Brokerage Groww IDBI Direct
Brokerage Plan Standard Plan Standard Plan
Subscription Charges Zero Zero
Equity Delivery Rs.20 per Order or 0.05% (whichever is low) 0.50% of Transaction Value
Equity Intraday Rs.20 per Order or 0.05% (whichever is low) 0.50% of Transaction Value
Equity Future Rs.20 per Order or 0.05% (whichever is low) 0.50% of Transaction Value
Equity Option Rs.20 per Order Rs.50 per Lot
Commodity Future Rs.20 per Order 0.05% of Transaction Value
Commodity Option Rs.20 per Order Rs.50 per Lot
Currency Future Rs.20 per Order 0.05% of Transaction Value
Currency Option Rs.20 per Order Rs.50 per Lot

Groww vs IDBI Direct – Trading Platforms

Brokerage companies offer various ways to access your account, including a Web Trading Platform and software for desktops and smartphones. These make trading convenient.

The platforms help you analyze multiple stocks, personalized advisory services, currency pairs, and commodities, facilitate chart analysis, execute buy or sell orders, and have many more built-in functions.

Desktop platforms include MetaTrader 4 (MT4), compatible with Windows and Android devices, and MetaTrader 5 (MT5), designed for Mac computers and Apple iOS devices. Another standard software is the widely used TradingView.

Whether your smartphone runs iOS or Android software, there are apps you may download to help you access your account on the go. Additionally, you can enable notifications to receive real-time updates. You can also enable SMS alerts to receive messages.

Groww vs IDBI Direct - A Complete Comparison of Trading Platforms

Trading Platforms Groww IDBI Direct
Android App Groww Android App Link IDBI Direct Android App Link
iOS App Groww iOS App Link IDBI Direct iOS App Link
Web Trading Platform Groww Web Trading Link IDBI Direct Web Trading Link
Trading Terminal NA Available
Algo Trading Platform NA Available
Foreign Stocks Trading Platform NA NA
Basket Trading Platform NA NA
Mutual Fund Investment Platform Available Available
Digital Gold Investment Platform NA NA
Bonds Investment Platform NA NA

Comparison of Groww and IDBI Direct – Trading Features

Just like we discussed above, the various platforms help you with the following functions that facilitate trading:

  • Wishlist: For instance, if you want to track a company's stock or a digital commodity, you can add it to your Wishlist to govern it closely.

  • Real-Time Updates: You will receive regular updates on market trends, stock prices, and other information by choosing the above option.

  • Portfolio Details What is a portfolio? A portfolio is a comprehensive overview of your investments, including stocks, bonds, commodities, and more, all in a single place. Hence, this feature offers you details on your portfolio.

  • Online MF Buy: The above feature lets you buy or sell mutual funds (MF) directly from the platform.

  • Research Reports: The above feature offers you a detailed analysis of various stocks and sectors in the financial markets.

  • Global indices: The above feature offers real-time data on major global stock market indices such as Sensex and Nifty.

  • Customized Recommendations: Based on your goals, trading behavioral patterns, and other factors, this feature offers you personalized investment suggestions.

  • Stock tips: The above feature provides hints or advice on which stocks to buy, hold, or sell centered on market trends to yield profit.

  • Interactive charts: The charts allow you to see the change in price movements of any individual stock or digital commodity, which helps you better analyze when to buy or sell.

  • Live market: The above feature gives you live updates on market movements and trends. Just like your live TV news but related to the financial markets.

  • Multi Profile Management: The above feature allows you to manage various trading profiles from a single account.

  • Robust & Secure Platform: The above feature guarantees a secure trading environment with advanced security features that will not compromise your money, security, or data.

Groww vs IDBI Direct - A Comprehensive Comparison of Trading Features

Trading Features Groww IDBI Direct
Wishlist Yes Yes
Real Time Updates Yes Yes
Portfolio Details Yes Yes
Online MF Buy Yes Yes
Research Reports No Yes
Global indices No No
Customised Recommendations No No
Stock tips No No
Interactive charts Yes Yes
Live market Yes Yes
Multi Profile Management NO Yes
Robust & Secure Platform Yes Yes

Compare Groww vs IDBI Direct Offers

Many stockbrokers provide additional offers to increase their market size and user base. The offers are as follows:

  • Free Account Opening and AMC: A Demat (dematerialization account) helps you hold your securities in digital form by ditching the old paper method. The government of India governs the NSDL (National Securities Depository Limited) and CDSL (Central Depository Services Limited), where depositors (brokers) place the securities.

    The formation of depository types like the CDSL and the NSDL allows them to hold securities, including stocks, commodities, bonds, and ETFs, in electronic form. The brokers Groww and IDBI Direct are CDSL depository Participants (DPs). The demat charges while opening an account are free with the brokers.

    But after opening your demat account, other charges are also levied, such as AMC (account maintenance charges), broker charges on every trade, government charges, stamp duty, and various others. Fortunately, the AMC doesn't charge fees. The section 'Compare the Brokerage of Groww and IDBI Direct' covers the other brokerage charges.

  • Free Brokerage: The above option allows you to make a few trades without brokerage charges. Both brokerage companies, Groww and IDBI Direct, offer this option, but it is limited to specific trades.

  • Flat Brokerage: Unlike the free brokerage charge, the flat brokerage charge charges a fixed amount regardless of the trade volume. Both brokerage companies, Groww and Groww, offer this option.

  • Flexible Brokerage Plans: Every broker offers several brokerage plans, each with different benefits. You can choose one based on your individual trading needs. While Groww does not provide this option, IDBI Direct does.

  • Happy Trading Hours: Like "Happy Hours" in various venues, the trading companies also offer "Happy Trading Hours" based on the same concept. Happy Trading Hours is where you can trade at reduced or zero trading fees at particular hours during the day. Both brokerage companies, Groww and IDBI Direct, do not offer this option.

  • Free Delivery Trading: The above option lets you buy and hold your security without paying brokerage charges. While Groww does provide this option, IDBI Direct does not.

  • Free Intraday Trading: Buying and selling your security during the same business day, generally from 9:15 a.m. to 3:30 p.m., is considered an intraday trade. Both brokerage companies, Groww and Groww, do not offer this option.

  • Free F&O Trading: The above option allows you to participate in future and option trades without paying brokerage charges. However, neither the brokerage company Groww nor IDBI Direct offers this option.

  • Free Research Reports: The above option offers you a detailed analysis of various stocks and sectors in the financial markets at no additional cost. However, neither the brokerage company Groww nor IDBI Direct provides this option.

  • Free Trading Calls: The above option offers you trading signals or suggestions at no additional cost. However, neither the brokerage company Groww nor IDBI Direct provides this option.

  • Referral Offers: As the name suggests, referring your friend or family to the platform would benefit you. While Groww gives Rs.300 per Client, IDBI Direct gives Upto Rs.500 per Client.

  • Margin Funding / Pledging: The above option allows you to borrow funds from the broker to trade larger volumes and pledge your securities as collateral. Both brokerage companies, Groww and IDBI Direct, offer this option.

  • Brokerage Cashback: The above option returns a percentage of your brokerage fees as cashback. Both brokerage companies, Groww and IDBI Direct, do not offer this option.

  • Zero Brokerage For Loss-Making Trades: Based on this option, you won't be charged any brokerage if you decide to sell a loss-making security. Both brokerage companies, Groww and IDBI Direct, do not offer this option.

Groww vs IDBI Direct - A Comparison of Latest Offers

Offers Groww IDBI Direct
Free Account Opening Yes Yes
Free AMC Yes No
Free Brokerage No No
Flat Brokerage Yes No
Flexible Brokerage Plans No Yes
Happy Trading Hours No No
Free Delivery Trading No No
Free Intraday Trading No No
Free F&O Trading No No
Free Research Reports No Yes
Free Trading calls No Yes
Referral Offers Rs.300 per Client Upto Rs.500 per Client
Margin Funding / Pledging Yes Yes
Brokerage Cashback No No
Zero Brokerage for Loss Making Trades No No

Groww vs IDBI Direct – Products Provided

Diversification is the key to lowering risk in your stock investment. Always choose a broker who provides you with different security options under one umbrella. The following are the security options offered by Groww and IDBI Direct:

  • Equity Delivery: If you hold your share (equity) for more than two days in your Demat account and sell it after that, this term is equity delivery. As the stock is delivered to your Demat account and sits there for months or years till you want to sell it, it is a delivery trade. Both brokerage companies, Groww and IDBI Direct, offer this option.

  • Equity Intraday: Suppose you buy and sell your share (equity) during the same business day, generally from 9:15 a.m. in the morning to 3:30 p.m. in the noon. In that case, it is considered an intraday trade. Both brokerage companies, Groww and IDBI Direct, offer this option.

  • Equity Option: Involve buying or selling a specific number of shares (equity) at a specified date at an already set (pre-determined) price, the strike price, within a specified period. Both brokerage companies, Groww and IDBI Direct, offer this option.

  • Equity Future: Buying or selling shares (equity) at a specified date, amount, and price on a future date. Both brokerage companies, Groww and IDBI Direct, offer this option.

  • Commodity Option: Commodity options (raw material or primary agricultural products such as gold, silver, or oil) involve buying or selling a specific number of units on a specified date at an already set (pre-determined) price, the strike price, within a specified period. Both brokerage companies, Groww and IDBI Direct, offer this option.

  • Commodity Future: Buying or selling digital commodities (raw material or primary agricultural products such as gold, silver, or oil) at a specified date, amount, and price on a future date. Both brokerage companies, Groww and IDBI Direct, offer this option.

  • Currency Option: As the name suggests, this involves buying or selling currency (foreign exchange) at a specified date, amount, and price on a future date. Both brokerage companies, Groww and IDBI Direct, offer this option.

  • Currency Future: As the name suggests, currency options (foreign exchange) involve buying or selling several units on a specified date at an already set (pre-determined) price, the strike price, within a specified period. Both brokerage companies, Groww and IDBI Direct, offer this option.

  • Foreign Stocks: As the name suggests, trading stocks of a foreign country sitting in India. For instance, you could trade stocks from the USA, which allows you to trade stocks such as Apple, Google, and more in India. While Groww does not allow you to trade foreign stocks, IDBI Direct does.

  • Mutual Funds: Mutual Funds (MF) pool your money and several other investors just like you to purchase various securities such as stocks, bonds, and others. The mutual fund intends to diversify your investments and reduce risk. Both brokerage companies, Groww and IDBI Direct, offer this option.

  • Banking: A full-service broker such as ICICI helps you even with a savings account and other banking needs. These brokers are usually in the banking sector, too. However, Groww and IDBI Direct do not offer this option.

  • Insurance: Some brokers even offer insurance to safeguard investors' securities against potential losses during trading. However, Groww and IDBI Direct do not provide this option.

  • Corporate Bonds: As the name suggests, debt securities issued by corporations to raise the corporation's funds are known as corporate bonds. A few brokers issue these securities, but while Groww does not allow you to purchase these bonds, IDBI Direct does.

  • Govt. Bonds: As the name suggests, debt securities issued by the government to raise funds are known as corporate bonds. A few brokers issue these securities, but while Groww does not allow you to purchase these bonds, IDBI Direct does.

  • Digital Gold: Just like we have physical gold at home stored in our lockers in the same way, we can buy digital forms of gold sold by a few agents such as brokers. While Groww does not allow you to purchase these bonds, IDBI Direct does.

Groww vs IDBI Direct – A Complete Comparison of Products

Products Provided Groww IDBI Direct
Equity Delivery Yes Yes
Equity Intraday Yes Yes
Equity Option Yes Yes
Equity Future Yes Yes
Commodity Option No Yes
Commodity Future No Yes
Currency Option No Yes
Currency Future No Yes
Foreign Stocks No No
Mutual Funds Yes Yes
Banking No Yes
Insurance No Yes
Corporate Bonds No Yes
Govt. Bonds No Yes
Digital Gold No No

Groww vs IDBI Direct – Services Provided

  • Demat Services: If the broker provides a Demat account to buy, hold and sell securities. Both brokerage companies, Groww and IDBI Direct, offer this option.

  • Trading Services: If the broker offers a Trading account, you can purchase securities and monitor your trades. Both brokerage companies, Groww and IDBI Direct, offer this option.

  • Intraday Services: Suppose the broker enables you to perform intraday transactions. Both brokerage companies, Groww and IDBI Direct, offer this option.

  • F&O Services: Suppose the broker lets you perform F&O (future and options) transactions. Both brokerage companies, Groww and IDBI Direct, offer this option.

  • IPO Services: For a private company to go public to increase its funding, it must perform an initial public offering (IPO.) Brokers allow you to participate in these IPOs. Both brokerage companies, Groww and IDBI Direct, offer this option.

  • 3-in-1 account: If your banking, demat, and trading accounts are all in one place, Groww and IDBI Direct do not offer this option.

  • Stock Research: The research helps you to analyze the financial assets, markets, and economic trends to make sound investment choices. However, Groww and IDBI Direct do not offer this option.

  • Stock Recommendations: Suppose you want suggestions from financial experts in Groww or IDBI Direct on stocks that could potentially profit you. However, Groww and IDBI Direct do not offer this option.

  • Trading Institution: We go to school to master a subject related to the stock market. Trading institutions tutor us to become masters of the stock market. Both brokerage companies, Groww and IDBI Direct, offer this option.

  • Share Pledging: If you want to buy shares but do not want to invest extra money, you could pledge your previously bought shares to buy the new shares. Both brokerage companies, Groww and IDBI Direct, offer this option.

  • PMS or PCG: As the name suggests, Portfolio Management Services (PMS) or Private Client Group (PCG) offer personalized investment suggestions based on your needs. However, Groww and IDBI Direct do not provide this option.

  • NRI Services: Some brokers offer services to help Non-Resident Indians (NRIs) trade in the Indian market. However, Groww and IDBI Direct do not provide this option.

Groww vs IDBI Direct – An In-Depth Comparison of Services Offered

Services Provided Groww IDBI Direct
Demat Services Yes Yes
Trading Services Yes Yes
Intraday Services Yes Yes
F&O Services Yes Yes
IPO Services Yes Yes
3 in 1 Account No Yes
Stock Research No Yes
Stock Recommendations No Yes
Trading Institution No No
Share Pledging Yes Yes
PMS or PCG No No
NRI Services No No

Compare Groww and IDBI Direct Advisory

  • Fundamental Reports: The above reports analyze the company's health, industry position, and market economy. However, Groww and IDBI Direct do not offer this option.

  • Research Reports: Reports that analyze various stocks and sectors to help you make sound decisions. While Groww provides this option and charges accordingly, IDBI Direct does not offer this option.

  • Company Reports: The above reports analyze the company's performance: financial statements, products, and market standing. However, Groww and IDBI Direct do not offer this option.

  • Annual Reports: Yearly reports analyze the company's activities in the previous financial year, including their cost and positive or negative impact. However, Groww and IDBI Direct do not offer this option.

  • IPO Reports: Detailed reports that analyze the company's financials, business model, and market potential before they go into an IPO. However, Groww and IDBI Direct do not offer this option.

  • Technical Reports: The above reports analyze the company's historical market data, including price and volume. They use charts and statistical measures to help you make sound decisions. While Groww provides this option and charges accordingly, IDBI Direct does not offer it.

  • Stock Tips: The above option gives you suggestions from financial experts on which stock you need to buy, hold, or sell at the current moment. While Groww provides this option and charges accordingly, IDBI Direct does not offer this option.

  • Daily Top Stock Picks: The above option offers suggestions from financial experts on the stocks you should pick for the day to make a possible profit. While Groww provides this option and charges accordingly, IDBI Direct does not offer it.

  • Daily Market Review: The above option gives you a daily review of the markets: trends, economic events, and sector performance. However, Groww and IDBI Direct do not offer this option.

  • Monthly Review: The above option gives you a monthly review of the markets: trends, economic events, and sector performance. However, Groww and IDBI Direct do not offer this option.

  • Weekly Review: The above option gives you a weekly review of the markets: trends, economic events, and sector performance. However, Groww and IDBI Direct do not offer this option.

  • Relationship Manager: The above gives you an assigned person who understands your financial goals and is your go-to person for support and personalized service. While Groww provides this option and charges accordingly, IDBI Direct does not offer this option.

  • Robo Advisory: Like Robots, a Robo advisory is an all-automated, algorithm-driven financial planning service. While Alice Groww this option, IDBI Direct does not.

Groww and IDBI Direct - A Detailed Comparison of Advisory Services

Advisory Groww IDBI Direct
Fundamental Reports No Yes
Research Reports No Yes
Company Reports No Yes
Annual Reports No Yes
IPO Reports No Yes
Technical Reports No No
Stock Tips No No
Daily Top Stock Picks No No
Daily Market Review No Yes
Monthly Review No Yes
Weekly Review No Yes
Relationship Manager No Yes
Robo Advisory No No

Comparison of Groww and IDBI Direct Exposure

As investors, we all have a certain amount of money invested in a security known as our exposure. In the worst case, it is the amount of money we are ready to lose if all hell breaks loose. But if you are positive that it will give you outstanding returns, you can increase your exposure.

But if you do not want to buy more shares with your money, you can leverage it to amplify your position. Think of it like a seesaw—for instance, a leverage of 1:500 means that for every Rs. 1 of your money (your share capital), the broker adds Rs. 500 to your side of the seesaw. You are finally swinging a much more giant bat in the trading game!

1:500 is just an example; brokers can place bigger or smaller leverage all to lieu in customers. Traders commonly use this strategy in stocks and forex trading. If you apply this strategy perfectly, it can yield substantial profits!

Groww and IDBI Direct - A Comprehensive Comparison of Trading Exposure

Exposure Groww IDBI Direct
Equity Delivery 1x 1x
Equity Intraday Upto 5x (Depends on Stocks) Upto 5x (Depends on Stocks)
Equity F&O Carry Forward 1x 1X
Equity F&O Intraday 1.3x 1.3x
Commodity F&O Carry Forward 1x 1x
Commodity F&O Intraday 1.3x 1.3x
Currency F&O 1x 1x

Compare Programs of Groww & IDBI Direct

Just like we compared the Referral program in the initial parts of this page, there are other ways you can benefit from talking/promoting Groww & IDBI Direct. Such as:

  • Sub-broker Program: You or your company can become an agent of and operate (assisting clients in trading) under the supervision and registration of the broker, which is Groww or IDBI Direct here.

  • Partner Program: You could become a partner and provide marketing support and leads by getting commissions.

  • Referral Program: As the name suggests, you would benefit from referring your friend or family to the platform.

Groww vs IDBI Direct - A Comparative Analysis of Programs

Programs Groww IDBI Direct
Sub Broker Program Yes, Limited Yes
Partner Program Yes Yes
Referral Program Yes Yes

Groww vs IDBI Direct – Ratings

Thoroughly analyze and compare the various parameters, such as the products and services offered by Groww & IDBI Direct and other brokers. We have rated them as follows:

Groww vs IDBI Direct – Ratings Comparison and Insights

Ratings Groww IDBI Direct
Overall Rating 9.75 / 10 7.60 / 10
Customer Support 9.71 / 10 7.57 / 10
Technology 9.87 / 10 7.70 / 10
Charges 9.79 / 10 7.63 / 10
Products & Service 9.69 / 10 7.56 / 10
Experience 9.67 / 10 7.54 / 10

Compare Customer Support of Groww and IDBI Direct

If there are no clients, no one will use the extensive features, rendering them useless. After all, the client is king. Customer support is the key to any business. It can convert any customer into a loyal and long-term customer.

Customer support also has the power to attract new customers through word of mouth or existing customer testimonials. For the broker to provide you with smooth trading opportunities, you should be able to reach them more easily via the form you want, such as call support or Facebook.

Groww and IDBI Direct - A Comprehensive Comparison of Customer Support Services

Customer Support Groww IDBI Direct
Trading Support NA Available, Free
Dedicated Dealer NA Available, Free
Call Support 9108800604 022-67719100
Email Support support@groww.in customercare@idbi.co.in
Whatsapp Support NA NA
Website Support Website Link Website Link
Facebook Support Facebook Support Link Facebook Support Link
Twitter Support Twitter Support Link Twitter Support Link
Telegram Support Telegram Support Link Telegram Support Link
Branches / Offices NA Available

Comparison of Groww & IDBI Direct Complaints

As regulators, the Securities and Exchange Board of India (SEBI), BSE, and NSE always ensure investors' safety by inspecting all brokers' activities. Brokers will lose their licenses if they engage in malpractice or do not listen to customers. Here is a breakdown of all the complaints lodged and resolved.

Groww & IDBI Direct - A Comparison of Customer Complaints

Complaints Groww IDBI Direct
Total Complaints Lodged 181 35
Total Complaints Resolved 163 28
% of Resolved Complaints 90.06% 80.00%
Non Actionable Complaints 9 3
% of Non Actionable Complaints 4.97% 8.57%

Compare Demat Charges of Groww vs IDBI Direct

When finalizing a broker, the key is to compare their Demat charges. Here is a breakdown of the competitive rate charged by Groww and IDBI Direct:

Groww vs IDBI Direct - A Detailed Comparison of Demat Charges

Demat Charges Groww IDBI Direct
Account Opening Charges Free Free
Annual Maintenance Charges (AMC) Free Rs.350 per Year

Groww vs IDBI Direct – Compare STT & CTT

Securities Transaction Tax (STT) and Commodity Transaction Tax (CTT) are transaction fees charged by the government of India irrespective of the broker. Hence, the cost is the same for all brokers in India, and the government sets it.

Groww vs IDBI Direct – A Comparative Analysis of STT and CTT Charges

STT & CTT Groww IDBI Direct
Equity Delivery 0.1% on buy & sell
Equity Intraday 0.025% on sell
Equity Future 0.0125% on sell
Equity Option 0.0625% on sell (on premium)
Commodity Future NA
Commodity Option NA
Currency Future NA
Currency Option NA

Compare Stamp Duty of Groww and IDBI Direct

Stamp duty is a form of government tax in India. You incur a stamp duty when the broker issues, sells, or transfers security (like stocks, currency derivatives, and commodities). The government collects stamp duty on all securities at the end of the day.

Groww and IDBI Direct - A Comparison of Stamp Duty Charges

Stamp Duty Groww IDBI Direct
Equity Delivery 0.015% on buy
Equity Intraday 0.003% on buy
Equity Future 0.002% on buy
Equity Option 0.003% on buy
Commodity Future NA
Commodity Option NA
Currency Future NA
Currency Option NA

Groww vs IDBI Direct – Transaction Charges

When finalizing a broker, the key is to compare their Transaction charges. Here is a breakdown of the competitive rates charged by Groww and IDBI Direct:

Groww vs IDBI Direct – A Detailed Comparison of Transaction Charges

Transaction Charges Groww IDBI Direct
Equity Delivery 0.00325% (NSE) & 0.00375% (BSE)
Equity Intraday 0.00325% (NSE) & 0.00375% (BSE)
Equity Future 0.0019% (NSE & BSE)
Equity Option 0.05% (on premium)
Commodity Future NA
Commodity Option NA
Currency Future NA
Currency Option NA

Compare Pledge Charges of Groww & IDBI Direct

  • Pledge Creation Charges: When you borrow funds from the broker to trade larger volumes and pledge your securities as collateral, the broker charges pledge creation fees.

  • Pledge Invocation Charges: When you sell the pledged shares, the broker charges pledge invocation fees if the borrower fails to provide additional securities within a limited period.

  • Interest on Margin Trading: When trading on margin, the interest charged is due on the loan or the margin amount.

Groww & IDBI Direct - A Comprehensive Comparison of Pledge Charges

Pledge Charges Groww IDBI Direct
Pledge Creation Charges Free
Pledge Invocation Charges Rs.20 per Request
Interest on Margin Trading 0.045% per day

Comparison of Groww and IDBI Direct – Hidden Charge

  • SEBI Turnover Charges: All fees on the buy or sell transactions made through a stock exchange (BSE or NSE), known as the SEBI Turnover Charges, are paid to SEBI by you.

  • DP Charges: The fees for maintaining, administering, and handling securities in your Demat account, known as the DP Charges, are paid to DP.

  • GST: Brokerage and transaction charges attract a Goods and Services Tax (GST) of 18%.

  • Account Closure Charges: The fees charged for closing any account, such as the checking, savings, or investment accounts

  • Reactivation Charges: The standard fees and charges schedule specifies the fees for reactivating your services.

  • Dematerialization Charges: The fees charged for converting your physical shares and securities into digital or electronic format

  • Call & Trade Charges: The fees charged for making transactions made on the client's behalf over the phone

Groww and IDBI Direct – A Detailed Comparison of Hidden Charges

Hidden Charge Groww IDBI Direct
SEBI Turnover Charges Rs.10/ Crore (All Segment)
DP Charges Rs.13.5 per Scrip only on Sell
GST 18% on (Brokerage + SEBI + Transaction charges)
Account Closure Charges Free
Reactivation Charges Free
Dematerialisation Charges Not Available
Call & Trade Charges Not Available

Frequently Asked Questions


Is Groww better than IDBI Direct?
Like shoes, the same size does not fit all. Even if we consider brokerage charges, account opening fees, trading platforms, and more, your trading needs are your own, and you are the best person to decide on the best platform for you.

Is IDBI Direct better than Groww?
Like shoes, the same size does not fit all. Even if we consider brokerage charges, account opening fees, trading platforms, and more, your trading needs are your own, and you are the best person to decide on the best platform for you.

Is Groww cheaper than IDBI Direct?
As the name suggests, discount brokers already do charge the fees on the lower side. Go to the specific security you want to trade in the list above, and you will know the cheapest between the brokers, Groww and IDBI Direct

Is IDBI Direct cheaper than Groww?
As the name suggests, discount brokers already do charge the fees on the lower side. Go to the specific security you want to trade in the list above, and you will know the cheapest between the brokers, Groww and IDBI Direct.

Which is better, IDBI Direct vs. Groww?
Compare the brokers Groww and IDBI Direct based on brokerage charges, trading platforms, Demat account opening fees, research, advisory services, and other parameters to find the best broker.

Lamfindia specializes in offering innovative financial solutions, including stock broker services, mutual fund investments, and IPO guidance.