6ix9ine
TF Legend
I was just going through my recent Groww digests and noticed something interesting.
Groww is pretty smart, they subtly included the information about the fee hike in their daily digest (20th Sept 2024). In my opinion, they should have made it more public, but they didn’t. I messaged them on Twitter to ask why, and they responded saying "Hi, it was sent in Groww Daily Digest to all the users". Clever move.
Before anyone gets into panic mode, your direct mutual funds are safe, there are no new charges for MFs.
However, for stocks, the situation is different:
Which means that if you buy and sell a stock worth ₹10,000 only (with a turnover of ₹20,000), you’ll end up paying ₹20 in fees.
This change won’t affect big players much, it’s like a drop in the ocean for them. But for small traders, that extra ₹20 could impact their profits.
I’m not sure about other fee hikes, like for F&O, since I don’t trade in those. But I’ll share the link to the pricing chart for everyone’s reference.
Groww Brokerage Charges & Pricing: https://groww.in/pricing
PS: Before anyone asks, I use Groww for mutual funds only. For stocks, I use a different broker.
Groww is pretty smart, they subtly included the information about the fee hike in their daily digest (20th Sept 2024). In my opinion, they should have made it more public, but they didn’t. I messaged them on Twitter to ask why, and they responded saying "Hi, it was sent in Groww Daily Digest to all the users". Clever move.
Before anyone gets into panic mode, your direct mutual funds are safe, there are no new charges for MFs.
However, for stocks, the situation is different:
- Before: The brokerage charges were 0.05% or ₹20 per executed order (whichever was lower).
- After: Now it’s 0.1% or ₹20 per executed order (whichever is lower), with a minimum of ₹2 per order.
- Before: The DP charges were 13.5 + 18% GST = ₹15.93/-
- After: Now it’s 18.25 + 18% GST = ₹21.535/-
Which means that if you buy and sell a stock worth ₹10,000 only (with a turnover of ₹20,000), you’ll end up paying ₹20 in fees.
This change won’t affect big players much, it’s like a drop in the ocean for them. But for small traders, that extra ₹20 could impact their profits.
I’m not sure about other fee hikes, like for F&O, since I don’t trade in those. But I’ll share the link to the pricing chart for everyone’s reference.
Groww Brokerage Charges & Pricing: https://groww.in/pricing
PS: Before anyone asks, I use Groww for mutual funds only. For stocks, I use a different broker.
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