Kuvera Vs Groww: Which is better for your Investment?- 6 Points

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Introduction

Online trading has received very much attention nowadays. Since financial transactions are constantly safeguarded, internet trading is just as secure as offline trading. In this article, we are comparing two of the most famous online trading apps Kuvera vs Groww. We will separately discuss the features of Kuvera and Groww vividly and then compare. But before that lets understand what are the key aspects that makes a trading app efficient for its users. 

In light of the foregoing, it is also true that nothing in our world is secure. Online trading in the capital markets can greatly increase your profits, but it is also regarded as a nest of vipers.

After the emergence of several applications for online trading and investment, people are getting confused about what to choose. With so much of varieties, it is important to keep your understanding and analysis first. Although all these online platforms seem similar there is a minor difference between them that let its audience choose accordingly. Trading online has the potential to bring in thousands, lakhs, or even more money.

Some of these applications are best suited only for beginners while others offer a more advanced feature that cannot be easily comprehended by newbies. In such a case, you need to analyze what category you fall in and how would you like to invest. Answering a few questions will help you discover more. Reading blogs, articles and most importantly reviews will assist you in better understanding the application. While trading is mostly seen as a way to earn money, making effective use of the stock market is the best method to save money for the long run as well. 

Trading and investing are worldwide phenomena today. It is very important to invest whether you choose cryptocurrency or stock markets to invest in. Investing can assist with wealth creation, achieving financial objectives, beating inflation, and retirement savings. Not everyone benefits from the same investment approach. The investments you make will not be the same as those of your friends and family.


Factors To Consider Before Using A Trading App


Data On Market Access

If you trade using a Demat account, you must have access to market data. One element that has the power to make or break your trading strategy is access to market data. Different types of market data are available, ranging from pricing and market volume to ask/bid quotes.

Trading Alerts And Notifications

Notifications and alerts are a feature that trading apps must have. You couldn’t keep track of market trends without continuous notifications and alerts. You require notifications and alerts in order to be able to monitor the crucial events occurring in the trade market.

Easy Interface

This is an essential element that you must take into account when developing an application because it will be the platform for all trading and investing. It is crucial for trading apps or software to assist you in carrying out extremely complex trades while providing a user-friendly interface.

To be able to browse through a trading app without difficulty, you must have access to one that is user-friendly. You might pass on some incredible trading possibilities if the app’s interface is complicated.

Speed Makes You Lead

Trading applications are designed to be tools that help you trade. It does not matter whether you choose to perform intraday trades or some other type of trading, what counts is for the app to have a good speed. You shouldn’t use trading programmes that would make you move slowly. The finest trading software should, then, unquestionably have a speed that does not impair its functionality.

Lets Know Kuvera In Detail

Kuvera app was founded in the year 2016 and has raised 4.8 million dollars in funding worldwide. It has 10 lakh plus downloads to date. Gaurav Rastogi and Neelabh sanyal are the founders of Kuvera. Kuvera is highly user-friendly. It is best recommended for beginners. 

For mutual funds, digital gold, term deposits, cryptocurrency trading, insurance, and US ETF investment, the Indian online wealth management portal Kuvera has received a lot of engagement from its users. It is run by the Bangalore-based business Arevuk Advisory Services Pvt. Ltd. 

The company formed a relationship with Vested Finance in September 2020 to enable its Indian traders to purchase US stocks including Netflix, Facebook, and Apple.

Charges of Kuvera 

There are no charges, AUM-related fees, or unstated commissions. Kuvera assists you in making investments only through Direct Plans of Mutual Funds, eliminating the need for fees. It is a cost-free investment platform. 

Features Of Kuvera That Make It A Unique Wealth Management Application

  • Tax harvesting: Selling a portion of your mutual fund units to record long-term capital gains and reinvest the proceeds in the same mutual fund is known as tax harvesting. 

You sell an underperforming investment and lose money to reap tax losses. You can then utilize that loss to lower your taxable capital gains and perhaps even deduct up to $3,000 of your ordinary income. 

In the Kuvera app, you can easily save long-term capital gain on mutual funds by selling in a year up to one (1) lakh rupees gain. 

  • Managing your account: Kuvera gives you the freedom of working your account with other people with whomever you want. You can give access to your account to your friends, family member, or a manager whom you want to manage your account. 

Besides, you can also add family accounts and manage investments for all family members with just one account. 

  • Family account: Family Account is a Kuvera feature that allows users to invest for members of their family through various accounts called investment channels. 
  • Smart trading features: High short-term capital gains (STCG) taxes might hurt your finances when you move or redeem a fund. With TradeSmart, you can securely exchange or redeem, with the least possible tax consequence once activated. 
  • Importing stocks: You can easily import My stocks US Gold, and EPF investment for tracking.  
  • Filing taxes: Filing taxes gets easier as Kuvera offers a capital gain report. 
  • Tax saver: Low lock-in rates with easy withdrawals. 
  • Automated tracking: Kuvera tracks and consolidates all of your mutual fund holdings while maintaining the highest level of privacy protection. 
  • Goal setting: It is one of the rarest features that Kuvera offers when compared with other apps. For all types of investors, experienced and novice alike, goal-based investment is particularly crucial. 

You can choose from a variety of predefined goals with a short- and medium-term focus on the Kuvera app. These include taking early retirement, purchasing a home or car, educating my child, traveling abroad, etc. 

Facts About Kuvera

  • Type of company: Private 
  • Industry: Financial Services and Personal Finance 
  • AUM: Rs.28000 Crore 

Website:https://kuvera.in/


Lets Know Groww In Detail

Groww is a straightforward Demat & stock trading tool that enables you to trade BSE and NSE listed equities in the share market at a cheap commission rate. Making Stock Investing & Mutual Funds are simple, Quick & Secure. 

Investing in stocks and mutual funds is simple, quick, and secure with Groww. You can invest in well-known mutual funds and equities in a matter of minutes from the comfort of your home and benefit from 100% paperless onboarding without any hassles. 

Four former workers of Flipkart, Lalit Keshre, Harsh Jain, Ishan Bansal, and Neeraj Singh, left their positions in 2016 to launch a business that aims to simplify investing. They started operations in 2017 under the name Groww. 

A straightforward and user-friendly investment platform in India is the Groww App. With ratings of over 4.4 and 4.5 stars, it is one of the top-rated apps in the Play Store and App Store, respectively. 

Charges of Groww 

Account opening costs are nothing. Annual maintenance costs (AMC) are zero. Brokerage costs are twenty rupees (Rs. 20) or 0.05% of the value of each order, whichever is less. Groww uses a flat-fee business model. 

Features of Groww that make it a unique wealth management application

  • User-friendly interface: Groww app has a user interface that is easy to use, clear, and basic. The user of the Groww app can open the app using the fingerprint reader on their phone. 

Since Kuvera requires a PIN to access the app, this option is not accessible there. The Groww app uses a quick access bar and user-friendly tiny tabs to provide users the advantage of having all important activities on the same screen. 

  • A secure app: Groww is a secure app that keeps data safe with SSL certification and 128-bit encryption. Additionally, Groww mutual fund transactions are fully secure because they are made through the BSE. 
  • Instant opening of a paperless account: Groww exclusively allows clients to open accounts online. The entire account opening process is paperless and includes an E-sign option. 
  • Cromphesive information about trends in trading: It shares candlestick charts to display price changes and past results. Exhaustive data on all Indian corporations are also listed. You will also find the latest information about financial markets, including blogs, resources, videos, and content. And updated prices in real-time.
  • Help and support: For prompt issue resolution, use the in-app help and support feature. There are also chat services available with customer services. 

Facts about Groww

  • Type of company: Private 
  • Industry: Platform for direct mutual fund distribution
  • AUM: Rs.7460 Crore 

Website:https://groww.in/


Kuvera vs Groww- A comparison

ElementsKuvera Groww
Fees of transactions and services2500/-per yearNone
Customer supportOnline servicesFAQs and 24/7 online services
Third-party reviews4.84.4
App featuresSimple UIAdvanced UI
Ease of usingNo such featureFingerprint access and compact view
Safety and reliabilitySEBI registeredSEBI registered

Independent evaluations

On the Play Store, Kuvera app has a slightly higher rating (4.8) than Groww app (4.4). Although most third-party websites suggest that the only distinction between the two apps is user preference, there are some minor distinctions between them aside from this. Given that both applications actually offer all necessary features and that different user groups find the extra features valuable in both apps, this opinion appears to be shared across blogs.

Help Desk Kuvera vs Groww  

Users of both apps must email their support teams in the event of a problem. However, the Groww app does have a comprehensive FAQ section that aids users in finding quick solutions to common problems and improving their overall experience. While Kuvera offers live chat support with the online help desk around-the-clock, Groww has an online support system. 

Fees For Transactions And Services

Both applications offer a free initial download and charge comparable transaction fees based on AMC prices and payment gateway fees. Once investments made through the platform reach Rs 1 lakh, Kuvera does charge Rs 2500/- each year.

Operated on 

Groww and Kuvera, both can be operated on SaaS, iPhone, iPad and Android. 

Audience: Kuvera vs Groww 

  • Groww- Anyone searching for a trading platform to buy and sell stocks, mutual funds, and digital gold. 
  • Kuvera- Anyone in need of a wealth management system to handle their personal finances, including organisations, investors, and other groups. 

Training 

Groww provides training through documentation and in-person but Kuvera does not. 

Security: Kuvera vs Groww  

Due to the fact that both apps are registered with SEBI, they can be trusted. A user’s money does not remain on the app at any stage during the transaction. The app directs users to the website of a particular AMC when they want to invest with that AMC, where they may complete the transaction.

In addition, customers will receive a Folio number, which serves as a bank account number and may be used to track their finances. Since both applications are highly regulated and provide users complete control to watch their money, they are both safe for financial transactions.


Final Thoughts On Kuvera Vs Groww

Kuvera and Groww, have transformed the wealth management industry, making it accessible to a far wider and younger audience. Both apps have gotten a tonne of attention while being available for less than five years. Thanks to its clearly defined assistance section and user-friendly UI, the Groww app is largely regarded as an app for anyone new to investing. With its extensive feature set, the Kuvera app caters to experienced investors. 
So who wins in Kuvera vs Groww, well considering all the pointers there are definitely some features that Kuvera has that Groww does not and vice-versa. While the Kuvera app may have some unique benefits with higher play store ratings and provides users with a more robust collection of capabilities, the Groww app appears to be the more comprehensive software overall. Groww offers a very detailed and premium look with extremely friendly-User Interface (UI).

In this battle of Kuvera vs Groww, Groww wins!!

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FAQ

How trustworthy is Kuvera?

The use of the Kuvera app is unquestionably secure and trustworthy. Its validity is further increased by the fact that it is registered with SEBI (Security and Exchange Board of India). The Kuvera app encrypts user information and protects the user account by using firewalls, session timeouts, and PIN unlocking. 

Does Kuvera charge money?

There aren’t any fees, AUM-related costs, or unstated commissions, as was already stated. They assist you in making investments only through Direct Plans of Mutual Funds, eliminating the need for fees. It is a cost-free investment platform for absolutely free.

Is Kuvera SEBI registered?

The parent firm of Kuvera, Arevuk Advisory Services Pvt. Ltd., became a registered investment advisor (RIA) with SEBI on July 19, 2016, with registration number INA200005166. They are listed as an Investment advisor with the Securities and Exchange Board of India (SEBI).

Is Kuvera a Demat?

To hold financial securities in digital form and to transact in shares on the stock market, a Demat account is required. The National Securities Depository Limited and the Central Depository Services Limited are two depository institutions that look after Demat accounts in India. Just a trading account and a Demat account are required. In a similar vein, there is no lock-in period for investments made on the stock market, so you can buy and sell shares whenever you like. You can start investing in the stock market with just Rs. 500.

Can I buy IPO in Kuvera?

Yes you can buy IPO in Kuvera. All you have to do is go to the ongoing IPO area after logging in to the broker’s trading app or terminal. Pick the IPO to apply for and the type of investor. Enter the bid price and share count.

Is Kuvera APP Chinese?

No! Kuvera is an Indian online wealth management platform for mutual funds, digital gold, fixed deposits, cryptocurrency exchange, insurance & US ETF investment.

Is Kuvera a stock broker?

They exclusively provide conventional brokerage services and run their business via an online platform. They don’t offer their customers individualized wealth or financial management services.

What happened to Kuvera global?

On March 1st, 2018, it changed to Kuvera Global. Ryan Smith, Chad Miller, Mario Romano, and Annette Raynor ran Wealth Generators as a private business until March 31, 2017, when Investview Inc. purchased it. A multi-level marketing firm called Kuvera Global, which also offers cryptocurrency mining contracts, operated in several European nations. A few of its members then founded IX Global, another Multi Level Marketing business, in India. 

Who are Kuvera’s competitors?

Competitors and related businesses of Kuvera include Sky, Garden, Monjin, Blended Technology Solutions, and Oraan.

How to know a particular e-trading is authentic?

Investors and traders should always confirm that the e-trading company’s website is SSL certified. Secure Socket Layer, or SSL, is the most widely used form of online encryption. You must verify the provider’s encryption certification if you engage in web-based trade.

What is better than Groww?

As opposed to Groww, Kuvera is a mutual funds platform that is user-friendly for beginners. If you have investing experience, you can use the Groww platform. On both platforms, the interface is user-friendly and simple, but the Groww platform gives a more premium look. 

Is Groww good for beginners?

Groww is a secure software with a tonne of features, like line and candlestick charts that display price changes, one-click buy/sell, free educational materials and videos for novice investors, comprehensive company information, etc.

Does Groww have an annual charge?

For the Demat account, the majority of platforms impose an annual maintenance charge (AMC). Groww doesn’t have any AMC here on Groww.

What are the taxes on the Groww app?

Up to Rs. 1 lakh of long-term capital gains (LTCG) are exempt from tax upon redemption. The appropriate tax is 10% without indexation if the LTCG is greater than one lakh.

What is validity in Groww?

 If you verify your holdings after the markets have closed, it will be good until the close of business on the following trading day.

What is a closing balance?

The amount remaining in your Groww Balance at the end of the day following all credit and debit transactions is known as the closing balance. 

Is Groww free for lifetime?

Groww has no transaction fees, redemption fees, or any other unforeseen costs for mutual fund investments. Additionally, Groww provides no-cost account opening and maintenance. However, using Groww to invest in equities is not free.

What is monthly refund in Groww?

According to SEBI regulations, money that has been in your Groww Balance for more than 30 or 90 days will be returned to your main bank account following the conclusion of the settlement term (which the user selected when setting up a Groww account; either 30 or 90 days).

Can I open two (2) Demat accounts?

A trader is allowed to have numerous trading and demat accounts. There is only one restriction in this scenario: you are not permitted to open more than one demat and trading account with the same brokerage or depository participant. You are only permitted to use one stockbroker for your trading and demat accounts.

How many days we can hold shares in Groww?

An investor is not obligated to acquire and sell shares in a delivery transaction on the same day. Depending on his or her willingness, the person can hold the shares in such transactions for a longer period of time. The time frame can be anything from two days to more than two decades. 

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