Monday, December 2, 2024
HomeComparisonGroww Vs Flattrade 2024: Comparison of Charges

Groww Vs Flattrade 2024: Comparison of Charges

Table of Contents

Groww Vs Flattrade: Account Opening & AMC Charges

Groww Vs Flattrade: Brokerage charges & Plans

Groww Vs Flattrade: Transaction Charges

Groww Vs Flattrade: Margin (Exposure)

Groww Vs Flattrade: Demat Transaction Charges

Groww Vs Flattrade: STT/CTT

Groww Vs Flattrade: GST

Groww Vs Flattrade: SEBI Charges

Conclusion

Flattrade is gaining popularity rapidly because of their zero brokerage charges where they promise to provide zero brokerage in all segments. whereas Groww has maximum no of customers in india and has beaten zerodha recently in terms of no. of clients. It is one of the fastest growing financial services platforms in India, allowing traders to find various investment solutions related to IPO, ETFs, US stocks, stocks, mutual funds and more. Here is a Groww Vs Flattrade charges comparison that will help you to know about the strengths and weaknesses of each platform, thus you will be able to choose one.

Open an account with Zerodha.

Groww Vs Flattrade: Account Opening & AMC Charges

Groww and Flattrade exhibit similarities in terms of account opening and maintenance charges. Groww stands out for its user-friendly approach by offering a zero-cost traccount opening and no annual maintenance charges (AMC) for lifetime.

On the other hand, Flattrade requires a nominal demat account opening charge of ₹200 + GST and one time charge of 175 Rs. as DDPI charge while account opening but provides zero AMC. i.e. lifetime free AMC.

While Groww emphasizes a completely cost-free account set up, Flattrade introduces a modest charge for the initial trading account setup. Making the choice between the two platforms depends upon all the charges comparison.

Read on: Groww Brokerage Charges: A Comprehensive Guide for 2024.

Groww Vs Flattrade: Brokerage charges & Plans

Groww and Flattrade have distinct differences in their brokerage charges and plans.

For equity delivery and equity intraday Groww charges ₹20 per order or 0.05% of transaction amount, whichever is lower. In contrast, Flattrade offers these services for free, with zero brokerage charges.

For Equity futures and Options Groww charges flat Rs. 20 per order while Flat trade again provide it free of cost.

Groww does not offer commodity and currency F&O, while Flattrade provides these at no cost.

This comparison highlights the significant variance in the fee structures of the two platforms, with Flattrade offering a more cost-effective solution for various types of trading activities with their zero brokerage plan.

Groww Vs Flattrade: Transaction Charges

Groww and Flattrade transaction charges exhibit differences across various trading categories.

  • For Currency Options, Groww does not provide services, while Flattrade charges NSE at 0.035% and BSE at 0.001%.
  • In Equity Futures, Groww charges NSE at 0.002%, while Flattrade maintains a constant rate of 0.0020%.
  • For Equity Intraday, Groww charges NSE at 0.00345% and BSE at 0.00345%, whereas Flattrade charges NSE at 0.00345% for NIFTY 50 and NIFTY NEXT 50, BSE at 0.003% and NSE at 0.00275% for stocks other than NIFTY 50 and NIFTY NEXT 50.
  • In Equity Options, Groww charges NSE at 0.053% on premium, while Flattrade charges a consistent 0.053% on premium.
  • Groww does not offer services for Commodities, whereas Flattrade charges 0.0026% (or 0.0013% for far month contracts) and 0.05% for Commodity options.
  • For Currency Futures, Groww does not provide services, while Flattrade charges NSE at 0.0009% and BSE at 0.00022%.
  • In Equity Delivery, Groww charges NSE at 0.00345% and BSE at 0.00345%, while Flattrade charges NSE at 0.00345% for NIFTY 50 and NIFTY NEXT 50, BSE at 0.003%, and NSE at 0.00275% for stocks other than NIFTY 50 and NIFTY NEXT 50.

Groww Vs Flattrade: Margin (Exposure)

In terms of margin exposure, both Groww and Flattrade offer similar leverage for various trading segments.

For Equity Options, both platforms provide a 1x margin.

In the case of Equity Intraday, Currency Options, Commodity Options, Commodity Futures, Equity Delivery, Currency Futures, and Equity Futures, both Groww and Flattrade offer a 1x margin, with the exception of Equity Intraday, where both platforms provide a 5x margin, capped at 20% of the trade value.

Overall, the margin exposure for different trading segments is comparable between Groww and Flattrade, with slight variations in specific categories such as Equity Intraday.

Groww Vs Flattrade: Demat Transaction Charges

Groww imposes a fee of ₹13.5 plus GST per scrip per day, but this charge is applicable only when selling securities.

On the other hand, Flattrade charges ₹20 plus GST per scrip, and this fee is also levied exclusively on sell transactions.

While both platforms have transaction charges linked to selling equities, Groww’s ₹13.5 per scrip per day structure contrasts with Flattrade’s fixed ₹20 plus GST per scrip fee. Investors may consider these variations based on their trading frequency and preferences.

Groww Vs Flattrade: STT/CTT

In terms of Securities Transaction Tax (STT) and Commodities Transaction Tax (CTT) for various trading activities, Groww and Flattrade exhibit some differences.

  • Groww does not currently support Commodity Futures, while Flattrade charges 0.01% on the sell side.
  • For Currency Futures, both platforms do not impose STT.
  • In Equity Intraday, Groww levies 0.025% only on the sell side, whereas Flattrade applies a 0.025% tax on the sale side.
  • For Equity Options, both platforms charge 0.05% only on the sell side, but Flattrade Further imposes a 0.125% tax on the option exercised.
  • Currency Options on both platforms do not have STT.
  • In Equity Delivery, Groww imposes a 0.1% tax on both buy and sell transactions, while Flattrade charges 0.1% on both buy and sell sides as well.
  • For Equity Futures, Groww levies 0.01% only on the sell side, similar to Flattrade.
  • Lastly, Groww does not support Commodity Options, while Flattrade charges 0.05% on the sell side.

Groww Vs Flattrade: GST

In terms of pricing, both platforms charge a total of 18% on transactions, encompassing brokerage and transaction charges. However, there is a slight distinction in the breakdown of this 18%.

Groww applies the 18% to the sum of brokerage and transaction charges, while Flattrade incorporates the Securities and Exchange Board of India (SEBI) charges within this percentage.

Read on: Flattrade Vs Angel One: Comparison of Accounts, Charges, Trading Platforms Etc.

Groww Vs Flattrade: SEBI Charges

In terms of SEBI charges for equity, currencies, and commodities trading, both Groww and Flattrade share a similar pricing structure, charging ₹10 per cr traded.

Whether it is delivery or Futures and Options (FNO) transactions, both platforms maintain a consistent fee of ₹10 per crore for these specific trading categories.

Open an account with Angel One.

Frequently Asked Questions

Q1. Is Flat Trade safe?

yes, 100% safe and secure as it is registered by SEBI and is partner member with BSE, NSE and MCX. It has a 3.6 star rating on Google Play store with Approx 1 lac downloads. You can watch this video to know more.

Q2. Who is the Owner of Flat trade ?

Mr. K. Narayana Moorthy, who is veteran stock market Businessman.

Q3. What are the DP charges in Flattrade ?

Rs.20+GST, Few Brokers in India Charges 12 to 13 Rupees also for the same. Though this charge does not go to brokers, in fact is is being charges by CDSL/NSDL which are india’s 2 depositories.

Q4. How long does it take to open Flattrade Account ?

They claim to offer demat account in 5 minutes but Standard demat Account opening time is considered as 48 Hours.

Q5. What is Flat trade ?

it is generally related with a share/bond or any other security available at an almost constant price for a longer duration. But in India we have a Stock Broker named “Flattrade” which provides Demat Account services at Zero brokerage cost.

Conclusion

As you can see, both Groww and Flattrade trading companies have their specific advantages and weaknesses. Flattrade offers zero brokerage charges while groww offers zero account opening.

Groww is a well established broker and with huge marketing budget they have a gained a lot of trust from market. if you ask me cto hoose one of these I will definitely pick Groww because they are older in market and have a better technology, better customer service and many other better features. You should not open demat account merely on the basis of charges.

My all time favourites Upstox and Angelone links are here, you can open demat account in Upstox and Angelone.

watch the video to have a comaparison between flattrade and other zero brokerage platforms.

RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Most Popular