How to buy shares in groww app

You may have heard before that only 2% of Indians are there who are investing and trading lovers and actually invest in the stock market. But, this percentage seems to be boosting day by day as the whole system of trading is switching to the online platforms. The ease and solace of online trading has led a huge number of Indians to somewhere rely on their earnings from such investment activities.

One of the trading platforms of India which is swiftly increasing it’s customer base day by day is none other than growing apps. Have you heard of the grow app?

Well, Groww is an online investment platform based in India that mostly targets first-time investors and millennials. The headquarters of the groww app are in Bangalore, it enables investors to open an account electronically and transact in mutual funds and stocks online. As in June 2018, Groww had partnered itself with the 34 mutual fund houses and around 5000 mutual funds were accessible on the platform. As of Sep 2020, with 8 million users, the company had raised $59 million in venture capital.

But as mentioned, most of the users of the grow app are none other than the new learners, therefore they face a hell lot of difficulty in using the platform, though it is an easy one. They face this difficulty mostly because they don’t understand those typical technical terms. So, to obviate this dilemma , we came up with this article that covers the problems like how to buy shares in the grows app. So, lets begin!!

How can one open a demat account on the grow app?

Firstly, you are required to open a demat account with groww app, if you want to buy the shares from the platform. Follow the below mentioned steps for the same.

Step 1- Log in to the Groww app. Below the ‘Stocks’ tab, click on the ‘ complete setup’.

Step 2- Click on the ‘Open Stocks Account‘ to continue. The account opening charges on Groww are zero. Great right? Now, For other charges please click on the‘See all charges’. Once you go through all the charges and decide to pay the applicable charges, click on the ‘open Stocks Account’.

Step 3- now, Enter details about your occupation, income, mother’s as well as father’s name to complete the KYC process. Then, Verify the correctness of the details and click on the ‘Next’ to proceed.

Step4- Enter your trading experience from the drop-down list and then simply click on ‘Next’ once done. To proceed.

Step 5- the next is uploading your signature. Take a picture of your signature on a plane white sheet from the option in the app. If you are satisfied with the picture of you signature then click on ‘looks good’ and proceed. It is an important step.

Step 6- This step includes Aadhaar based e-sign. In this process, you have to submit your Aadhaar number to the e-sign service and will receive an OTP on the registered mobile number linked to your Aadhaar. To e-sign, click on ‘E-SIGN AOF’. (AOF) will be sent to the registered email ID. Print the form, read the details carefully, sign at the mandatory places and courier the form to the address mentioned on the screen. Upon verification of the form, you will be informed and your account will be activated then.

Step 7- If your given mobile number is linked to Aadhaar, then enter the OTP/security code sent to your given mobile no. and click on ‘Submit’.

Step 8- Now you just have to Read the Demat account opening form carefully and click on ‘Sign Now’ to proceed further.

Step 9- You will be supervised to NSDL electronic signature service. Just enter your Aadhaar number or Aadhaar virtual ID in the space provided, and therefore click on the ‘Send OTP’ button. Enter the OTP to finalize the e-sign process.

Now you have signed in successfully and now you can start investing.

How to buy shares on groww app?

For buying a share, on the home screen ( under the stocks tab), all the necessary information such as Nifty and Sensex live updates, filters like top gainers and top losers of the day will be available. . Companies are also categorized according to the market cap and sectors on the landing page clearly. There you will get a search or navigation bar where you could simply enter the name of the stock you are hoping to invest in.

Once you click on the stock of your choice, you will be supervised to it’s product page. On Groww platform, investors can view all information and Data of a stock and the business on a single screen. This encompasses historic achievement of a stock, opening and closing price for a day , the amount of buy/sell orders, company statistics and financial ratios, company information, financial statements, shareholding pattern, and peer comparison. The app also enables investors to place a market or limit order as well as assess the bid/offer spread of the stock. All the vitals of a company are illustrated in a tabular or graphical setup for your clarity.

You can check how the stock has performed over a period of time to assess it’s growth pattern. You can also toggle to candlestick charts if you are an intraday trader.

Once you check all the fundamentals and company details, you can simply place your market or limit order for delivery or intraday in the order card that is shown on the right hand side. You could also place a stop loss order for some of your trades by going to ‘ Advanced Options’.

Now, You will be able to see your order summary and order status. Once the shares are credited to your Demat account, you would then be able to trace their performance on the dashboard. You would get a clear view of your investments.

Note: You can read more about Groww Review which is based on Honest Opinion.

Conclusion

As mentioned above, India is swiftly moving in the direction of becoming a great financially literate country. This has been possible due to the introduction of such online trading platforms only. There are many trading platforms in India, and groww app Is just one among them.

Groww app mainly focuses on those individuals who are new into the market and want to learn a lot about the working mechanism of the stock market.

Surely, groww app is the platform of the future. It shows us how stock trading would work in the future.

How To Choose A Broker To Open A Demat Account Online?

A Demat Account is necessary when you wish to invest in Equity, Mutual Funds, Non-Convertible Debentures (NCDs), Government Bonds and the likes! First things first, what is a Demat Account?

Demat Account/Dematerialized Account acts like an online vault for the securities you have purchased. Your Demat Account is managed by a Depository. There are two in India – National Securities Depository Ltd (NSDL) and Central Depositories Services India Ltd (CDSL). However, it is important to mention that you cannot directly open a Demat Account with the Depository, you have to do so with a Depository Participant. A Depository Participant or a DP could be a Broker, Financial Institution, Bank, etc.

In this article, we’ll focus on the things you need to consider when opening a Demat Account with a Broker. Why Brokers? Because given the nature of the Demat, a Brokerage firm offers a plethora of associated services, as compared to a bank or any other financial institution.

Let’s get down to the factors you need to take into account when choosing a broker to open a Demat Account online.

The Type Of Broker Yes, the ‘broker type’ is important and there are two kinds that you can open a Demat Account with. A Full-Service Broker and a Discount Broker.

A Full-Services Broker provides you with a set of integrated services that facilitate a seamless investing or trading experience across the capital markets.
A Discount Broker, on the other hand, provides you with a trading platform and a flat brokerage charge.
Ideally, a Full-Service Broker is well-suited to both a beginner and an expert in the stock market, since they provide additional services like Research Calls, Relationship Managers, Call and Trade Facility, and Trading Platforms, in addition to many others.

What Are The Charges?

There is the Custodian Fee, Demat AMC Charge, Account Opening Fee; which are naming the standard few. These charges may vary from broker to broker and are nominal in most cases. A thorough comparison is advisable before you commit to opening a Demat Account with a broker. Another fee is the Brokerage, which is levied on your trade transactions. When you look at it, normally a discount Broker will charge less as compared to a full-service broker. This is so because the Full-Service Broker also provides you with a full set of comprehensive services to make your investing journey more convenient. Have a go at the services offered by the Full-Service Stock broker before you decide to call the shots on whether it is well worth it or not based on brokerage.

Are They Supportive? Yes, it is an important criteria. When it comes to matters of money, no one likes to be kept hanging. A good support team is crucial when choosing a broker to ensure that at any time when nuisance strikes, you are backed up and well at that. Apart from looking at the support team ratings and feedback, have a look at what mediums the support is provided on. Phone, chat and email sound good; but a local office, a dedicated relationship manager or a back end support team takes top place. It may be just the right answer to your woes.

Is The Trading Platform Feature-Rich?

Check if the broker provides you with a trading platform that is compatible with the device of your choice. No one likes hiccups in the middle of a mindful trade. The second thing to check off your list is the features. Innovation is necessary, and you must look at the features that enable you to have a simple or convenient trading experience, rather than unnecessarily complicate stuff. UI is extremely important, check to see if it is clean and easily navigable. Does it have hands-on features that keep you updated about your portfolio, price and orders at all times? Does it make the whole experience easier? Does it provide the necessary data that may help you make informed decisions on one platform? Asking yourself these questions is important, before you take the first step to open a Demat Account.

HR Software Requirements for GDPR Compliance

As organizations become more and more dependent on technology, the challenges of having to deal with the flip side of Technology becomes inevitable. Among the many evils of modern technology, compromised data privacy and data security is definitely one of the most challenging ones. As people use a network to share their information, all the information out there is exposed to threats, phishing and misuse. Sometimes, the websites that collect user data, share it with third parties for advertising purposes, and even for financial gain. Thus, the user is in complete darkness when it comes to the whereabouts of his/her personal information.

Not just that, in recent times, there also have been many cases of organizations themselves selling the information of users, which they have in the database, to third parties for financial or other gains. The fact that Facebook sold all of the data (of millions of Facebook users) with no consonant from them whatsoever, makes one truly doubt the security of the information that people share with the different websites and applications that they are using. This has called for very strict laws for data privacy and GDPR was formulated for this purpose.

Today, every organization that deals with citizens of the EU and their personal information, needs to comply with the GDPR regulations. This applies to all of their products and websites. Since HR software is one of the most common software used in organizations today, this article looks at ways in which HR software can be GDPR compliant. Digital HRMS is a good example of a GDPR compliant software, and other examples include Keka and HRMantra.

To begin with, the organization should be aware of the information that is being stored, collected and also how it is used. This is to ensure that necessary security measures are implemented to secure the type of data collected by the company. The new age HRMS software mentioned above, are built in with advanced security features for this purpose. This provides users with encryption and access control for maximized security.

Data management is another aspect to GDPR compliance that HRMS software can help organizations deal with. For this, organizations need to invest in HRMS software that comes with content integration functionality. When data is in a manageable digital format, it can be much easier to monitor, keep a tab on, store systematically and access as and when required.

GDPR compliance also calls for timely reporting of information breaches. Hence, software to use should be able to track notify breaches if and when they occur. Also, when organizations are collecting personal data of employees, having their consent for the same is mandatory. A good HRMS system should be able to help you track employee consent for the information that they have submitted.

Another important requirement of GDPR compliance that an HR software should have is simplified data deletion. In addition to these measures, the HR software should also provide a platform for the users to get the queries about data privacy resolved correctly.

GDPR of compliance is mandatory and requires the organization to take multiple steps to ensure complete compliance. Looking for these requirements can help an organization find the right HRMS software.