New Features & Updates
“There are decades where nothing happens, and there are weeks where decades happen.” – Vladimir Lenin
All the weeks in the year 2020 seem to be like those weeks where decades happen.
I sent the last product update around 2 months back (read here) and a lot has already changed since.
A bunch of the things I said we will launch has already been launched and some are in the pipeline.
Here is a quick summary of all the updates.
Stocks
We had the luxury of building a mutual funds platform over the last 4 years as our investor base kept growing.
But, when you launch a new product while already having a large customer base, you do not have the luxury of time.
And thus, our stocks team has been working days, nights, and weekends to keep delivering on our promises. Even F1 drivers have pitstop breaks.
In the last two months we launched:
+ Stop-loss orders: Buy/sell when the stock price crosses trigger
+ Intraday and margin for intraday: Trade with the benefit of margin
+ Candlestick charts: Track the movement of stocks with greater ease
+ IPO (web only): Grab stocks before they’re listed on the markets
+ ETFs: Invest in funds that are listed on the exchange
All this on a new app stack! If you remember from my last update, we completely revamped our app technology.
You should definitely check out the new dark mode. Just don’t get addicted to it like me.
Now, what is next?
Advanced charts, stock alerts, and more.
Do send us requests for what you want through this form: product and feature requests.
Sometime in the future, we will also be introducing Futures & Options (pun intended) − please be careful in dealing if you are new to the world of derivatives. It gets riskier in this zone.
Mutual funds
A lot of things we are doing on mutual funds are under the hood.
That means there are a lot of things you cannot see but will feel the difference.
One thing you would notice is a more detailed mutual fund information section on the app.
Earlier you could see only the top 10 holdings. Now, all the holdings of the mutual fund are visible.
We have also added fund holding analysis along with the holdings.
For SIPs, we launched Groww Mandate − eNACH facility to easily automate your SIP payments.
This will set up a good base for us to enable edit SIP that has been in demand for quite some time.
Till then, you can always cancel the SIP and set a new one with the changed amount or date.
Gold
We got a phenomenal response on digital gold after we launched on the web. And now, it is coming on the app.
As I mentioned last time, now you have three ways you can invest in gold on Groww:
+ Digital gold: Explore (web only)
+ Gold mutual funds: SBI Gold Fund, ICICI Pru Regular Gold Savings Fund, etc.
+ Gold ETFs: Nippon India ETF Gold BeES
US stocks
As promised in my last update, we started inviting users to invest in US stocks on Groww.
We are still working on streamlining some parts of the experience.
But if you are impatient like me, please add yourself to this waitlist and we will ensure you get an invite ASAP.
Fixed deposits
While stocks and options take you towards the higher side of risk, a lot of our investors also want low-risk products.
Currently, low-risk products like liquid funds and overnight funds are available on Groww, but nothing beats fixed deposits when it comes to low risk.
So, the good news is that we will start rolling out deposits soon to our investors.
What are the other products you want to invest in on Groww? Please let us know.
I will be back soon with new updates.
Till then, happy investing!