Those were past when people invested in mutual funds through nearby distributors. Nowadays, investing in mutual funds becomes easier with investing platforms like Groww, Zerodha and Paytm Money. Just make your KYC verified and start everything from buying, reviewing, researching, and selling your mutual fund. You may wonder if your money is safe with these investing platforms, right? Let’s spill the beans!
1. Groww
- Groww is a popular Indian-based online investment platform. When compared to other online broking sites, Groww is legit; scam-free. The developer of the app assures safety of your money when it is designed with a high level of encryption (128-bit). Hence, it protects customer data and transactions.
- Groww has backed up with world-class investors like Ribbit Capital, Sequoia, Combinator, Kauffman Fellow etc. When these world-class investors have trust with Groww’s management, why should you step back? Moreover, Groww has, on average, 4.4 ratings on Google Play Store that shows customers are satisfied or confident investing money in the platform.
- Since its launch, Groww has registered with SEBI as a stockbroker and a depository participant in the name of Next Billion Technology Private Limited. It also appears that Groww is a member of leading stock exchanges like NSE, BSE, NCDEX and MCX.
2. Paytm Money
- Paytm Money is the new name in the brokerage horizon; wholly owned by One97 Communications Ltd. which also owns PayTm, the leading digital wallet in India.
- Paytm money offers stock, mutual funds, Derivatives, NPS, ETF, IPO, and Digital gold investments to its customers.
- Your money is safe with Paytm Money as it is registered with SEBI, Investment Advisory and a Depository Participant with CDSL. However, it is also a member of BSE and NSE.
- With Paytm Money, your money is safe as it does not offer risky products of margin funding. Also, it does not allow proprietary trading, which means your funds are always safe with Paytm Money. With over 6 million users’ trust and confidence, as of Jan 2021, Paytm Money has managed zero clients complaints at BSE.
- Paytm Money is a safe and secure app with bank-level security that protects customers data and transactions and protects unauthorised access. Additional security features like two-factor authentication which is usually done by fingerprints and pin-based lock, Paytm Money is all-around a safe investing option. Poorly, Paytm Money has not been considered as a listed company yet that shows its financial records are yet to be in public domain for analysis.
3. Zerodha
- Zerodha is registered with SEBI and a member of BSE, NSE, MCX, and NCDEX. With Zerodha, your money is 100% safe as it never allows margin funding (which is a risky proposition for stockbrokers). However, it does not keep client security in a pooled account. It looks like Zerodha has the least complaints to active client ratio.
- Zerodha is one of the top mutual fund investing apps. Zerodha is debt-free and reliable.
- It allows investors to invest in direct SIP across 34 fund houses.
- With required certifications and membership, Zerodha comes up as a reliable, safe and trustworthy stockbroker in India. Its credibility proves when many leading companies have already partnered with Zerodha.
Be rest assured as all the above three Groww, Zerodha and Paytm Money are well-known and registered options. Feel free to invest your money as these are completely safe options!
