When it comes to choosing the right trading and investing platform, most users prefer Groww. It’s because it helps investors carry out their investment journey at low cost. But a little negligence in not following the rules, you might face some fine and additional cost. So, let’s know what are Groww penalty charges?
Groww Auto Square off Charges
As you all are aware that an intraday trade position must be closed before the closing hours of the market. Also, the broker has their specific intraday square off time to close all the open intraday positions.
For example, the square off time in Groww is 3:20 PM.
In case, you forget to close the position while doing intraday trading in Groww app, then the Groww charges you the penalty cost on the same called auto-square off charges. Here are different charges that investors might have to pay in the case of negligence:
Auto Square Off Charges Levied by System for Closing the Open Intraday Positions
Rs. 50 per position
Groww Penalty Charges on Mutual Funds
Mutual fund investment provides two different ways of investment:
In the latter case, if the investor forgets to pay SIP amount, then most of the platform charges penalty on the missed SIP amount.
However, talking about Groww, it does not charge any such penalty on SIP investment.
Finally, we can say that Groww doesn’t levy any hidden charges on its users. But there are certain Groww penalty charges that investors have to pay if they fail to fulfill certain conditions.
As mentioned above, auto-square off charges, delayed payment charges, etc are imposed on investors. And the logic behind this is to avoid any loss for the investors if the market crashes overnight.
So, this is all you need to know on this subject. Stay tuned for more queries related to the Groww app.
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