Groww dethrones Zerodha as India's largest stockbroker with 66.3 lakh clients (2024)

FAQs

Groww dethrones Zerodha as India's largest stockbroker with 66.3 lakh clients? ›

Groww surpasses Zerodha in active clients, but Zerodha leads in revenue. Groww has overtaken Zerodha to become India's largest stockbroker with a substantial 66.3 lakh active clients, surpassing Zerodha's 64.8 lakh, as per NSE data.

Groww overtook Zerodha in the number of active traders in September, with 6.6 million such customers against the rival's 6.4 million. In the three months since, Groww has grown its active trader base by a million, while for Zerodha, the expansion was by 300,000 users.

In 2024, Groww was the leading equity brokerage firm across India with over nine million active clients. Zerodha followed with 7.22 million active clients.

Why choose Zerodha. Zerodha is among the largest discount brokers in India with a wide range of products and free equity delivery. It is a good choice for beginner investors because of its easy-to-use trading platforms.

For Mutual Funds

Your mutual fund investments reside at asset management companies (AMCs). Therefore, if, theoretically, Groww shuts down, your mutual funds are safe at the AMC.

Radhakishan Damani

Radhakishan Damani tops the list of richest investors in India. He is a self-made billionaire who rose from humble beginnings to become the founder and Chairman of DMart, one of India's leading retail chains. He is also a savvy investor with stakes in various companies across different sectors.

The company was founded in August 2010 by two brothers Nithin and Nikhil Kamath. The company's name Zerodha, indicates a combination of words for the company's ideals: Zero and "Rodha", the Sanskrit word for "barrier".

Zerodha is as safe and genuine as any other stock brokers in India. It is regulated by SEBI and is a debt-free company. It has not been involved in any major regulation violation in 10+ years. Read Zerodha - Safe, Reliable & Trustworthy Broker for more detail.

While Zerodha may be more suitable for active traders seeking advanced features and lower brokerage charges for intraday and F&O trading, Groww could be the preferred option for beginners and investors focused on long-term wealth creation through mutual funds and equity delivery trading.

Upstox is better than Zerodha only in terms of account opening fees and annual maintenance fees. A beginner investor can open a free account with no annual maintenance fees. Zerodha, on the other hand, appeals to active investors and traders with its free equity delivery and lower brokerage charges.

Which platform is better than Zerodha? ›

Upstox is better than Zerodha only in terms of account opening fees and annual maintenance fees. A beginner investor can open a free account with no annual maintenance fees. Zerodha, on the other hand, appeals to active investors and traders with its free equity delivery and lower brokerage charges.

Zerodha, which remains bootstraped, was so far the undisputed leader in the market and had clocked revenue of around Rs 6,875 crore in FY23 and a profit after tax of Rs 2,900 crore. The pioneer of the discount broking segment in India remains the largest brokerage by revenue and profitability numbers.

Well, to clear all the clouds of doubts, yes, Groww is the safest platform you could use to invest and grow (rather Groww) your financial standings.

Groww Turns Profitable in FY23

Groww reported a loss of Rs 239 crore during the last financial year on account of a rise in its expenses. During FY23, Groww recorded a total expense of Rs 932 crore as against an expense of Rs 660 crore in FY22. Groww's total income in FY23 was around Rs 1,427 crore.