In this Groww Vs Espresso Broker Comparison and Review, Find out how a startup companies should work and make a place in highly competitive stock broking industry.
Yes, we will going to discuss and compare the Groww and Espresso broker by Sharekhan on all parameters such as brokerage, web/desktop based trading platform (Groww App vs Espresso Mobile App), account opening charges, customer service, margin and lot more products and services both stock broker offers to its clients, but another thing to learn about is entrepreneur skills.
The reason I am saying that is because both the companies Groww and Espresso is very new to stock broking industry but they have made a significant place where we have more than 250+ sock brokers as per the latest NSE data.
But before we begin let me brief you about a quick fact about both stock brokers i.e. the number of active clients and total clients as of according to the latest NSE Data.
Groww have about (2.8 million) 28,51,472 active client list whereas Espresso Broker launched in the year 2020 on 22nd September and have created staggering 1,90,000+ active clients within 2.5 year of its launch.
I know the difference is very huge but one need to know that, Groww established 5years ago i.e. 2016 first as a mutual fund distributor and in 2019 they made debut in stock broking.
Whereas Espresso by Sharekhan have just completed a year. Looking at this number does shows the trust they have created for users in their products and services.
Just to let you know, you can read the detailed review of Espresso Broker here, similarly checkout the complete Review of Groww here.
So without further delay, let us start first with Groww Vs Espresso overall review in 11 brief points and later below you can check them in detailed guide if you want.
Just to let you know the post may be little long as it covers all aspects of the Groww and Espresso stock broker in detail, you can move through table of contents for the info you are looking.
Table of Contents
I have already used both stock broker services as well as wrote the reviews about them in detailed way separately, based on my experience and facts below are things you can consider before opening an account with them.
- Espresso and groww both have fantastic trading platform for desktop/mobile app, you can do fundamental as well as technical analysis quite easily.
- Espresso do have a desktop downloadable version where as with Groww you would have only mobile app and web version and no downloadable.
- Espresso brokerages are lower than Groww, they charge in equity Rs.20 or 0.01% (whichever is lower) Groww charges Rs.20 or 0.05% (whichever is lower) Espresso offers free equity delivery trades as well, not only that there are No brokerage on loss-making trades as well.
- Espresso gives free trading recommendation everyday to its users, which is unique because no stockbroker in India as of now is giving this facility to its users.
- Groww offers brokerage or say commission free mutual funds investment and platform for its users this is not available at Espresso as of now.
- Account opening charges as well as AMC (Annual Maintenance Charges) is Zero for Groww, whereas Espresso also giving a free account opening for a limited time period however they do charge Rs.400 AMC (Annual Maintenance charge) for a year.
- With Groww you can make investment in Gold, Fixed deposit US stocks such as Apple, Amazon, Google etc. online using Groww platform whereas Espresso does not have this facility as of now.
- As of now you can only trade and invest in stocks (equity) and FNO segment at groww, Commodity, Currency segments are yet to be launched, whereas with Espressoyou can trade and invest in all segments.
- Espresso also gives free intraday trading recommendation to every client, no such service is at groww.
- Other than this you can make investment in Initial Public Offerings (IPO), Sovereign gold bonds (SGB), Exchange Traded Fund (ETF), with both stockbrokers.
- If we talk about Margin at Groww vs Espresso, after SEBI Rules on Intraday margin every stockbroker is giving same margin 5x throughout India, hence this does not matter anymore.
- Having said that Espresso have something called EMFexchange margin funding as a new product to give higher leverages even for delivery based trades. This is very unique and rare feature to get up to 3X time leverage, as of now groww does not offer this service.
- Overall Espresso is better as an stockbroker than groww.
If you are thinking with whom to go with, then it depends upon your need i.e. to say if you are more of a trader doing intraday trading on regular basis from morning till market close than go with Espresso.
However if you are less of a trader and more of an investor for short, medium or long term, than you can choose Groww without any doubt. You can also make investments in US stocks, as well as other financial products such as digital gold, fixed deposits, mutual funds.
You can Open a free Groww trading/demat account with Zero AMC
Open a Free trading/demat account at espresso through this link and also Get additional benefits withSuch as 1 year MoneyFlix subscription free and also a 30% discount on Espresso trade booster program.
Now, let us go dive deep to cover all different services and features of Grow andmyespressostep by step and see who is best between both discount brokers by in depth analysis.
About Groww Vs Espresso Broker:
Before we dig deeper to understand the various services offered it becomes utmost import to know in brief about Espresso and Groww history.
Harsh Jain is the Co-Founder & COO of Groww, he was also the product manager earlier with flipkart. Groww is based in Bangalore, Karnataka, Here is interesting fact about groww very few people know, the company use Groww as a brand name although it is registered by name Nextbillion Technology Private Limited.
Groww operates as an online investment platform and offers mutual funds, tax planning, investment management, and financial information services. As of now you can trade and invest in only stocks (equity), FNO, whereas Commodity, Currency segment is not available yet.
Moreover, groww also offers Digital gold, US Stocks, and Fixed Deposit as other investment options apart from stock broking. Groww has partnered with CDSL to provide the depository services to clients.
Groww offers trade execution facilities for equity cash segments on BSE and NSE.
Groww founded in 2016, and had initially started as a direct mutual fund investment platform for users. By the time they have crated immense popularity among users in the mid-2020s, Groww expanded its product offering to include Equity trading.
As of April 2022, Groww had partnered with more than 40 mutual fund houses and more than 6000+ mutual funds were available on the platform. As of Sep 2020, the company had raised $59 million in venture capital an now have more than 11 million users on its platform.
This year on 7, April 2021, Growwhas raised $83 million in a Series D funding round led by Tiger Global, making the onlineinvestment platform the latest entrant in Unicorn list.
Groww is also backed by some of the well know investor companies such as Ribbit Capital, SEQUOIA, Combinator etc.
You can Open a free Groww trading/demat account with Zero AMC
Sharekhan has launched a separate entity called Espresso for discount brokerage services. Sharekhan is one of the largest brokers in India, was founded in 2000 and a subsidiary of BNP Paribas since November 2016.
Sharekhan offers a wide range of savings & investment solutions including equities, futures, and options. Currency trading, portfolio management, research, mutual funds and investor education.
Espresso got launched on September 22, 2020, R. Kalyanaraman is the CEO of espresso and have worked tirelessly to build a unique platform for traders and investors.
As per the CEO R. Kalyanaraman and I am quoting “Espresso isn’t just an interface. We’re in it for the long run. We’re in it to help you to succeed. That’s why we got our platforms Beta-tested by trading and investing enthusiasts. We didn’t stop there, though! With our Pay Only When You Profit pricing model, our endeavor is to ensure you keep at it and get better and succeed. We are here to help you achieve that, backed by our Sharekhan experience.”
Espresso offers trade execution facilities for equity cash and derivatives segments on BSE and NSE, commodities trading facilities on MCX and NCDEX as well as in currency segment.
They have partnered with both CDSL and NSDL for depository services. The basic idea of espresso is to help clients succeed by ensuring that they have more money in their hands by not paying brokerage on loss-making intra-day trades, or simply put ‘‘pay-when-you-profit-pricing model”.
Open a Free trading/demat account at espresso through this link and also Get additional benefits withSuch as 1 year MoneyFlix subscription free and also a 30% discount on Espresso trade booster program.
Groww Vs Espresso Broker Margin Comparison:
Margin in stock market refers to buying/selling of securities (shares) by borrowing money from your broker. This is very much similar to taking loan for short period of time. This helps traders in buying or selling more with less money in intraday trading.
If you are an active trader or a beginner who knows what exactly going on with recent changes brought by SEBI, Higher Margin won’t be a factor anymore, now the competition among the broking industry is in terms of better trading platforms and lower brokerages plans.
The upfront margin collection in cash segment has been kept at flat 20%, which means now the leverage for all stocks would be 5x also the penalty provision for short-collection/ non-collection of upfront margin in cash segment.
This means regardless of any broker you won’t get more than 5X times margin in equity cash segment and in FNO you need to have the full margin span+exposure to take any position.
You can read more about it here.
Therefore, the margin or leverages offered will be equal irrespective of the stock brokers in India going forward. Keep in mind this also applies to Currency and commodity derivatives as well.
For example: if there is a 20% margin requirement on a particular stock, then you will have to pay only Rs.20 to buy a stock of Rs.100. Another way to look at it is that if you have Rs.100, you will be able to buy five stocks instead of one.
Hence, the margin requirement will be same for all brokers including Groww and Myespressofor intraday trading in equites and derivatives.
One need to understand taking more margin means more risk and chances of your money getting wiped out is even more, so it is always advisable to use it in limited way.
So going forward please choose stock broker not in terms of margin or leverage as it is same for all brokers through out India.
Groww Vs Espresso Broker Brokerages Comparison:
Brokerage is the most important factor when you trade and invest, both Growwand Espressohave quite low brokerages. Let us know brokerage for both discount brokers one by one.
Groww Brokerage Structure:
At groww the brokerage charges are Rs.20 or o.o5% (whichever is lower) on every order executed.
What they mean is, suppose you bought stock xyz priced at Rs.100, quantity 100 on intraday basis,
so the total turnover would be bought 100, sold 100 (100*200)= 20,000 on this amount they will charge either whichever amount is lower as 0.05% of 20000, is Rs.10 so they will charge that instead of flat Rs.20. Below is the screenshot taken from Groww brokerage calculator for intraday trading.
Whereas brokerage charges if you do investment i.e. taking delivery of the stocks to your demat account or doing Buy today sell tomorrow (BTST) trades the brokerage charges are same as of above.
Espresso Brokerage Structure:
First of all the brokerage charges are kept at decent Flat Rs 20 per order, For Intraday trades across all segments (Equity, F&O, Commodity and Currency). There are no brokerage charges for delivery based trades at espresso. Moreover, No brokerage on loss-making trades, Let’s break it down with an example:
Suppose you make 20 trades a day every trading day of a year
20 trades a day x 250 trading days = 5,000 trades
5,000 trades x Rs 20 per transaction = Rs 1,00,000
Assuming 40% are loss-making trades, you don’t pay brokerage worth Rs 20,000!
Now let us how espresso brokerage structure works with another example. Suppose you bought TATA Motors 1000 shares @Rs.200 and sold the same @Rs.196, which means you made a loss on the trade.
Therefore espresso will only going to charge you one side of the order either buy/sell as it was a loss making trade.
Isn’t great that you don’t pay a penny on your loss making trades by using espresso stock broker. Another thing you must know in equity cash segment the brokerage charges are kept at 0.01% or Rs 20 for every executed order (whichever is lower).
What they mean is, suppose you bought stock xyz priced at Rs.100, quantity 100 on intraday basis,
so the total turnover would be bought 100, sold 100(100*200)= 20,000 on this amount they will charge either whichever amount is lower as 0.01% of 20000, is Rs.2 so they will charge that instead of flat Rs.20.
For all other segments such as derivatives (FNO) IN Equity, Commodity and Currency the brokerage charges at espresso are kept at Rs 20 for every executed order, also Zero brokerage on square-off orders in case of loss.
So, Overall if we see Espresso brokerage is lower than Groww as of now.
Groww Vs Espresso Account Opening Charges:
To open a trading/demat account at Groww there are no charges Rs.0 if you open an account through this link, Whereas the Annual Maintenance charge (AMC) is also kept at Zero.
As a one time offer you will also get Rs.100 if you open an account using this link.
Moreover there is 0% commission charges for investing mutual funds through Groww Platform. As compare to other stock brokers, they may charge some AMC charges for maintaining the account yearly, whereas Groww is not charging anything, this makes them apart for sure.
If we talk about Espresso
To open a trading/demat account at espresso there are no charges Rs.0 if you open an account through this link. Whereas the Annual Maintenance charge (AMC) is Rs 400/year + GST charged quarterly.
Moreover, Get additional benefits with Espresso when you open an account through this link. Such as 1 year MoneyFlix subscription free and also a 30% discount on Espresso trade booster program.
MoneyFlix is the world’s first financial movies platform! Whereas trade booster program of espresso is provided by subsidiary company Sharekhan Education.
I think its a win-win deal for you as there are no charges to open the account for a limited period offer*.
So, overall both the stock broker are giving option to open a free trading/demat account for users for a limited time period, however the AMC is been charged yearly for Espresso but with groww there are no AMC (Annual Mainenetance Charge).
Groww Vs Espresso Broker Account Opening Process Online:
The account opening process is online and it’s very seamless and smooth. Here is what you need to do:
To open an account with Groww online for free, you can sign up using your mobile number through this link.
Similarly, To open an account with Espressoonline for free, you can sign up using your mobile number through this link.
You will receive an OTP to your number and you can get started with the process.
You will be required to enter your PAN, Bank account details and personal details to continue with the sign-up.
Once you sign up you need to upload certain documents listed below:
1. Your PAN card
2. Your Aadhaar
3. To complete the e Sign process, you will have to authenticate it with an OTP. So, make sure you have the number linked to your Aadhaar handy. If not, you will not be able to complete the process. If the number linked to your Aadhaar is inactive, or if you don’t have any number linked, then you can visit your nearest Aadhaar Seva Kendra to get it updated.
4. A photo or scanned copy of your signature proof will be required to be uploaded.
6.Income proof – It is mandatory to submit income proof if you wish to trade in Futures and options – Equity, Commodity, and Currency.
You can submit one of the below documents.
- Form-16
- Income tax returns acknowledgment
- 6-month Bank statement
- Latest salary slip
- Demat holding statement, or
- A CA certifying your net worth
Note:The documents mentioned are for a Resident Individual Account.
Groww Vs Espresso Broker Trading Platform Comparison:
Groww offers two platform from where users can trade and invest.
Moreover, the trading platform seems to provide in-depth of financial or say good for doing fundamental analysis as well as technical analysisfeatures.
- Groww Web based Trading Platform
- Groww Mobile App for Android and OS
There are no downloadable version for desktop available for trading as of now with groww. Having said that let us review both stock broker trading platform separately to see more.
Groww Web Based Trading Platform:
The web based version at groww is quite clean and well designed, as the UI (user interface) looks dynamic and smooth.
Talking in terms of what is unique about the platform specially in respect to trading and investing, Groww platform offers great financial analysis for every stocks including the one listed in US (Nasdaq).
Checkout the image below to know more:
As, you can see in above image on left they have given the space for seeing charts sowing current trading price of stock in market, which includes candlestick charts with volumes patterns overtime, you can see the historical data.
On the right side of the screen you can easily place the intraday or delivery trades in a click.
If you go downwards you can see other great financial insights such as performance of stock, other different brands of that company, About the company and lot more.
company statistics such as, Profit & loss, balance sheet of company, cash flows, P/E ratio (price to earning), P/B ratio (price to book) Book value etc. are one click away on groww web based trading platform.
Now, I understand that Groww first being a investment platform for users have great financial information for users moreover if you are someone who loves doing intraday based trading it does requires technical indicators, tools and other resources, which at groww web based version is also available.
So, If you are someone who do trading and investing for short, medium or long term, Groww has everything in place for you. You will see more new features gets added and also the downloadable trading platform version in future.
You can Open a free Groww trading/demat account with Zero AMC
Now, let us talk about Espresso trading platform in detail.
There are 3 trading platform offered by Espresso for all devices:
- Binge (downloadable version) for desktop/laptop
- www.myespresso.com is the web version
- Espresso Discount Broking Mobile App
I won’t be discussing all the types of platform instead will disuses the Espresso Trading platform for desktop version, as the post will unnecessary be long you can read more about it here
Espresso Binge Desktop Based Trading Platform:
With Espresso Binge unleash the power of trading using Experience class charts, real-time feeds, multiple market scanners and much more to lend a hand to your trading. It has all the features required to be one of the best trading platform in India.
Advanced market sentiment tracker
Advanced market-watch tools that aid data visualization and decision-making
- View multiple market data points at one glance
- One click creates script and indices heat map
- One click to view the advance/decline of indices
A watchlist that’s simple and hassle-free
Quick updates that help you stay ahead of the curve
- Super-quick price updation
- Real-time price-based signals
- Support/Resistance levels to aid decision-making
The user interface is so clean and up to the mark, you can easily know which icon will do what, as the moment you will hover to any it will tell you the functionality of it.
Peer tracking beyond highs and lows
- Track all-time and 52-week highs/lows of multiple stocks together
- Track multiple stocks’ performances across different time frames
If you trade in Futures or Options than this downloadable platform is worth using. You have different tools to help you in trading FNO such as option greeks calculator, option chain, implied volatility tool, black and Scholes calculator in-built.
Get the power of charts with Espresso Binge
- Real-time feed updates across all segments
- Enjoy multiple views free of cost
- Customizable top menu bar
- Link your market-watch across Exchanges/scrips and time
- View and operate on 6 charts with a single click!
Choose and use the best candlestick patterns or other different types of chart such as Renko chart, Bar chart etc.
Espresso Binge has all the required charting and more than 100+ indicators indicators like major ones MACD, BOLLINGER BANDS, RSI, , Volume etc.
Overall, Espresso trading platforms are better in comparison to groww trading platform as of now.
Open a Free trading/demat account at espresso through this link and also Get additional benefits withSuch as 1 year MoneyFlix subscription free and also a 30% discount on Espresso trade booster program.
My Opinion On Groww Vs Espresso Broker:
I hope you have now thoroughly understood most of the services offered by Groww and Espresso broker, if you ask me in Groww vs Espresso Brokerwho is better?
Groww might be new in discount broking industry, but they do have more than 5 years of experience in providing a rich platform for users to invest in mutual funds scheme.
As we already saw they have more than 28 lakh+ active clients in stock broking and 10 million + overall clients on the platform, this itself shows the trust it has developed among the users.
In my opinion they still need to do a lot to fulfill the stock broking requirements such as allowing, currency and commodity trading.
Having said that, I like their USP of allowing clients to invest in US, their strength in financial data for fundamental analysis, Free mutual funds investments.
If I have to rate Groww after looking at there breakthrough pricing model for brokerages as well as other charges and experiencing there simple yet great user interface for trading platform I would give it 8.8 out of 10. Therefore, if you are someone who do more of investing and lesser trading than Groww is the perfect choice for you.
So, go ahead and open an account using this link
I am still being harsh as it is a new company particularly in stock broking, but you may see the ratings may go higher with time in my opinion.
On the other hand
Espresso by Sharekhan might be new in discount broking industry but as we know being a subsidiary of Sharekhan it has support as well as the experience that any new start-up requires.
Having said that, Espresso seems to be a perfect choice for anyone who is looking to open an trading/demat account, moreover there are no charges as of now to open an account so nothing to lose at all.
It is a win-win choice for you as an trader or investor. Espresso by Sharekhan has all that is required for being one of the best in broking industry, If I have to rate Espresso after looking at there breakthrough pricing model for brokerages as well as other charges and experiencing there simple yet great user interface for trading platform I would give it 9.4out of 10.
So, go ahead and Open your Trading/Demat account with Espresso online, paperless and absolutely free through this link within few minutes.
Best Stock Broker In India In 2021 – Caution You May Get Surprise After Seeing Them
If you are a beginner in trading and investing, please read this amazing guide on How stock market works in India?
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Also, do checkout moneycontain inflation calculator to know how much inflation make an impact on your savings and investment here.
Looking for fixed monthly income than Post office monthly scheme calculator can definitely solve your problem.
Want to know how much you need to save and invest in order to achieve your retirement goal, than do check moneycontain retirement goal calculator with inflation.
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Note: Please do your own research and make investment. Moneycontain will not be responsible for any of your losses at all. The point made is for educational purpose only and intended to give information. All investments are subject to risks, which should be considered prior to making any investments.
