Groww is a SEBI registered Stock Broker as according to the Section 12(1) of the SEBI act 1992, No stock broker is allowed to transact in any securities before obtaining the Certification of Registration (COR) from SEBI (Securities and Exchange Board of India).
Groww-
Groww is an online Stock Investment platform that allows its users to invest in Stocks, Mutual Funds, IPO’s, etc. It was founded in 2017 where it just allowed investors to invest in Mutual Finds but it launched its Stocks Investing recently in 2020.
Groww is a SEBI registered broker as every Stock Broker needs to be SEBI registered or get a Certificate of Registration (COR) from SEBI before proceeding with any kind of trading activity. No Stock Broker is allowed to participate in any trading activity without a valid COR from SEBI.
Hence Groww is a SEBI registered Stock Broker registered under the name of “NextBillion Technology Private Limited”.
Why it is important for Brokers to get registered?
As per Section 12 (1) of the Securities and Exchange Board of India Act 1992, No stockbroker will be allowed to buy, sell or deal in securities unless they work in accordance with the conditions of a certificate registration (COR) obtained from the Securities & Exchange Board of India (SEBI).
Therefore to conclude, yes!, Groww is a SEBI registered Stock Broker and there is no need for one to worry about the authenticity of Stock Brokers as every Stock Broker has to be mandatorily get approved by the SEBI before transacting in any securities on behalf of the Public or Institutions.