Groww vs SMC Global

A full side-by-side comparison of brokerage charges, demat AMC, margin, platforms, features and user ratings — updated for 2026.

Groww
Groww
Discount Broker · since 2016
VS
SMC Global
Full-Service Broker · since 1994
SMC Global

Groww vs SMC Global — quick verdict

Choose Groww if

You want low-cost, self-directed trading

Investing Made Simple

Choose SMC Global if

You want research and offline support

Your Financial Partner.

Company overview

Groww is a discount broker incorporated in 2016; SMC Global is a full-service broker incorporated in 1994.

ParameterGrowwSMC Global
Type of broker Discount Broker Full-Service Broker
Exchange membership NSE · BSE · MCX NSE · BSE · MCX · NCDEX · MSEI
Year of incorporation 2016 1994 older
Number of branches Not Disclosed 2,500+
Active clients ~1.29 Crore larger 4 Lakh+

Charges & AMC

Account-opening and maintenance charges for Groww and SMC Global compared side by side.

ParameterGrowwSMC Global
Trading a/c opening ₹0 (Free) ₹0 (Online)
Trading a/c AMC ₹0 (Free) ₹0
Demat a/c opening ₹0 (Free) ₹0
Demat a/c AMC ₹0 (Free) lower ₹399 + GST per year
DP charges (per ISIN, sell) Depository ₹3.50 (Male) / ₹3.25 (Female) + Groww ₹16.50 per debit transaction (₹0 for debit value below ₹100) lower ₹15.93 per debit transaction (including GST)

Brokerage charges

How Groww and SMC Global price each trading segment, per executed order.

ParameterGrowwSMC Global
Equity Delivery ₹20 or 0.1% per executed order (whichever is lower, minimum ₹5) 0.30%
Equity Intraday ₹20 or 0.1% per executed order (whichever is lower, minimum ₹5) 0.30%
Equity Futures ₹20 per executed order 0.30%
Equity Options ₹20 per executed order ₹20 per executed order
Currency F&O ₹20 per executed order 0.03%
Commodity F&O ₹20 per executed order 0.03%
Call & Trade Not Available ₹20 per executed order

Transaction charges (exchange turnover)

Exchange turnover and clearing charges passed through by Groww and SMC Global, per segment.

ParameterGrowwSMC Global
Equity Delivery NSE: 0.00297% | BSE: 0.00375% NSE: 0.00297% • BSE: 0.00375%
Equity Intraday NSE: 0.00297% | BSE: 0.00375% NSE: 0.00297% • BSE: 0.00375%
Equity Futures NSE: 0.00173% | BSE: 0.00% NSE: 0.00173%
Equity Options NSE: 0.03503% (on premium) | BSE: 0.0325% (on premium) NSE: 0.03503% (on premium)
Currency Futures NSE: 0.00012% | BSE: 0.00005% NSE: 0.00035%
Currency Options NSE: 0.0325% (on premium) | BSE: 0.001% (on premium) NSE: 0.03110% (on premium)
Commodity Futures MCX: 0.00210% MCX: 0.00210%
Commodity Options MCX: 0.04180% (on premium) MCX: 0.04180% (on premium)

Demat & DP charges

Depository (demat) charges for Groww and SMC Global — AMC, debit transactions, pledging and remat.

ParameterGrowwSMC Global
Demat Account Opening ₹0 (Free) ₹0
Transaction Charges (Sell) Depository ₹3.50 (Male) / ₹3.25 (Female) + Groww ₹16.50 per debit transaction (₹0 for debit value below ₹100) —
Transaction Charges Demat Account Opening ₹0 (Free) Transaction Charges (Sell) Depository ₹3.50 (Male) / ₹3.25 (Female) + Groww ₹16.50 per debit transaction (₹0 for debit value below ₹100) Annual Maintenance Charges (AMC) ₹0 —
Pledge / Unpledge ₹20 per ISIN —
Remat ₹150 per certificate + courier charges —
Failed Demat Transaction ₹50 per ISIN —
Annual Maintenance Charges (AMC) — ₹399 + GST per year
Debit Transaction Charges — ₹15.93 per debit transaction (including GST)
Pledge / Unpledge Charges — ₹25 + GST per request
Dematerialisation (Demat) — ₹150 per certificate + GST
Rematerialisation (Remat) — ₹150 per certificate + GST
Failed Transactions — Nil

Margin & leverage (MTF)

Intraday and delivery margin / leverage offered by Groww and SMC Global.

ParameterGrowwSMC Global
Equity Delivery 100% of trade value (1x) 100% of trade value (1x)
Equity Intraday As per SEBI peak margin rules (Up to 5x*) VAR + ELM Margin (Up to 5x*)
F&O (Equity/Currency/Commodity) SPAN + Exposure Margin (1x) SPAN + Exposure Margin (As per available margin)
Equity Options (Buy) — Premium Value (Not Applicable)
Equity Options (Sell) — SPAN + Exposure Margin (As per available margin)
Currency Futures & Options — SPAN + Exposure Margin (As per available margin)
Commodity Futures & Options — SPAN + Exposure Margin (As per available margin)

Features & account

Account type and feature availability across Groww and SMC Global.

ParameterGrowwSMC Global
3-in-1 account ✕ No ✕ No
Automated / API trading ✓ Yes better ✕ No
Margin Trading (MTF) ✓ Yes ✓ Yes
Trading in SME shares ✓ Yes ✓ Yes
Trading platforms Groww Web, Groww Mobile App, Groww API SMC ACE Web, SMC ACE Mobile App, SMC Trade Pro
Intraday square-off 3:20 PM 3:15 PM
Other Stock SIP, Option Chain, Price Alerts, Advanced Charts, Watchlists, Portfolio Tracking, Margin Trading Facility (MTF), IPO Investment, Direct Mutual Funds. Research Reports, Trading Calls, Option Chain, Advanced Charting, Basket Orders, Price Alerts, Portfolio Tracker, Margin Trading Facility (MTF), IPO Investment, Wealth Management

Trading platforms & apps

Trading terminals, web platforms and mobile apps offered by Groww and SMC Global.

ParameterGrowwSMC Global
Trading platforms offered Groww Web, Groww App SMC ACE Web, SMC ACE Mobile App, SMC Trade Pro
Number of platforms 2 3 more choice
Platforms (summary) Groww Web, Groww Mobile App, Groww API SMC ACE Web, SMC ACE Mobile App, SMC Trade Pro
Mobile / desktop apps Web, Mobile Web, Mobile, Desktop

User ratings

User ratings for Groww and SMC Global across the key parameters.

Rated onGrowwSMC Global
Fees 4.7 better 4.1
Brokerage 4.6 better 4.2
Trading platform 4.8 better 4.3
Customer service 4.3 4.5 better
Research 4.1 4.8 better
Overall 4.6 better 4.3

Investment options

Which investment products Groww and SMC Global let you access.

ParameterGrowwSMC Global
Stocks / Equity ✓ Yes ✓ Yes
Commodity ✓ Yes ✓ Yes
IPO ✓ Yes ✓ Yes
Mutual Funds ✓ Yes ✓ Yes
Bonds / NCD ✓ Yes ✓ Yes

Order types offered

Advanced order types supported by Groww and SMC Global.

ParameterGrowwSMC Global
Bracket Order ✕ No ✓ Yes better
Cover Order ✕ No ✓ Yes better
BTST ✓ Yes ✓ Yes
After Market (AMO) ✓ Yes ✓ Yes
GTC / GTT ✓ Yes better ✕ No

Safety & credibility

SEBI registration, financial strength and complaint record for Groww and SMC Global.

ParameterGrowwSMC Global
SEBI registration INZ000301838 INZ000199438
NSE member code 90187 06611
Year of incorporation 2016 1994 longer track record
Net worth Not Publicly Disclosed ₹3,215+ Cr
Exchange memberships NSE · BSE · MCX NSE · BSE · MCX · NCDEX · MSEI
Latest complaint ratio 0.009% 0.004% fewer complaints

Complaints record

Exchange complaint data for Groww and SMC Global — the ratio matters more than the raw count.

ParameterGrowwSMC Global
Latest financial year 2023–24 2025–26
Exchange NSE NSE
Active clients 95,38,609 larger base 4,21,538
Complaints filed 834 17
Complaint ratio 0.009% 0.004% fewer complaints

Pros & cons

The main advantages and drawbacks of each broker.

Groww

▲ Pros

  • ✓ Simple and beginner-friendly trading platform.
  • ✓ Fully digital and paperless account opening process.
  • ✓ Supports investment in stocks, mutual funds, ETFs, IPOs and F&O.
  • ✓ Available on both web and mobile platforms.
  • ✓ Transparent brokerage structure.
  • ✓ Easy portfolio tracking and fund management.
  • ✓ Supports multiple exchanges including NSE, BSE and MCX.
  • ✓ Secure online investment platform with modern trading tools.

▼ Cons

  • ✕ Limited physical branch network.
  • ✕ Research and advisory services are comparatively limited.
  • ✕ Call & Trade facility is not available.
  • ✕ Advanced trading features may be fewer than some full-service brokers.
  • ✕ Customer support response time may vary during peak market hours.
  • ✕ Margin funding and premium research offerings are limited compared to some competitors.
SMC Global

▲ Pros

  • ✓ Strong equity, commodity, and currency research.
  • ✓ Wide range of investment and wealth management products.
  • ✓ Large nationwide branch and franchise network.
  • ✓ Supports stocks, F&O, commodities, currencies, IPOs, mutual funds, bonds, PMS, and insurance.
  • ✓ Advanced web, mobile, and desktop trading platforms.
  • ✓ Dedicated relationship managers and advisory services.

▼ Cons

  • ✕ Brokerage charges are higher than discount brokers.
  • ✕ Annual Demat AMC is applicable.
  • ✕ Some advanced advisory services are available only to premium clients.
  • ✕ Trading platforms may have a steeper learning curve for beginners.
  • ✕ Call & Trade charges apply.
Open Groww Account Open SMC Global Account

Explore more comparisons

Compare Groww with

Groww vs Zerodha Groww vs Angel One Groww vs Upstox Groww vs ICICI Direct Groww vs Kotak Neo Groww vs HDFC Securities Groww vs SBI Securities Groww vs Motilal Oswal Groww vs Paytm Money Groww vs Mirae Asset Sharekhan Groww vs Axis Direct Groww vs 5paisa Groww vs Choice Broking Groww vs m.Stock Groww vs Sahi Groww vs FYERS Securities Groww vs Anand Rathi Groww vs Jainam Broking Limited

Compare SMC Global with

SMC Global vs Zerodha SMC Global vs Angel One SMC Global vs Upstox SMC Global vs ICICI Direct SMC Global vs Kotak Neo SMC Global vs HDFC Securities SMC Global vs SBI Securities SMC Global vs Motilal Oswal SMC Global vs Paytm Money SMC Global vs Mirae Asset Sharekhan SMC Global vs Axis Direct SMC Global vs 5paisa SMC Global vs Choice Broking SMC Global vs m.Stock SMC Global vs Sahi SMC Global vs FYERS Securities SMC Global vs Anand Rathi SMC Global vs Jainam Broking Limited
Disclaimer: Investments in the securities market are subject to market risks; read all related documents carefully before investing. This page is for information only and is not investment advice. Brokerage, AMC and other charges change frequently — always verify against the broker's official website before opening an account. Affiliate disclosure: "Open account" links are affiliate links and we may earn a commission at no extra cost to you; this does not influence our ratings.