Groww Is The Most Popular Investing App

A recent study conducted by the Expert market research to study the preferred investment and trading app choices of consumers revealed that Groww is the most popular investment app, being the choice of 34.78% of the total respondents. The success of Groww lies in its beginner friendly user interface being offered at a zero brokerage cost.

The indian fintech sector is one of the strongest growing sector in this era of digitalization. And this growth is being lead by the rapidly evolving investing and trading apps, bringing the facility of real time trading directly at the user’s smartphone. With the growing popularity, the competition is also growing. Recently, a study was conducted by the Expert market research across 30000 respondents to study the prefernces of traders and investors while choosing an app. 

Most Used Investment Apps

The primary aim of the survey was to learn the behavioral patterns of consumers, frequency and purpose of using online investment apps. From the findings of the study, Groww emerged as the most popular trading and investment app for Indian users and traders, being a choice of 34.78% of the respondents. Zerodha has been used by 17.39% of the total respondents, followed by upstox and paytm money, with 7.61% of the share each. Apart from these apps, 16.30% of the users opt for investment apps offered by various banks and financial institutions, namely LIC, KOTAK, ICICI, HDFC, NSE and BSE. The remaining 16.30% usually use angel broking or other available app alternatives. 

Groww’s market success lies in its straightforward and user-friendly approach which proves to be beneficial in attracting a large audience base. Groww offers a zero-brokerage structure for delivery trades and mutual funds. Along with this, the app contains tools such as education materials, goal-based investing and an AI powered chat bot for assistance. Additionally, zerodha is also catching up to this market share by offering a range of investment possibilities such as bonds, commodities, and equity SIP’S.  

Growing Popularity Of Investment Apps

These trends indicate how consumers and traders are not just looking for online trading platforms, but also favor the apps offering additional sources built in the app. They expect tailored suggestions based on their investment portfolio. Other factors such as security and authentication are also kept in mind, which must be taken care of by the broker. 

Our study offers further insights, understanding which the developers of investment apps can further enhance their platforms to meet the growing needs and demands of traders and curate targeted marketing efforts.