By Making A Grow Clone, Provide Real-Time Investment Options
The most recent trend in the fiercely competitive Indian market is “startups becoming unicorns.” In April 2021, Groww had reached a valuation of $1 billion. However, the Bengaluru-based investing platform exceeded the $3 billion threshold five months later. Users can choose from a variety of services, including mutual funds, futures and options trading, fixed deposits, gold, and demat trading. The Grow app has earned the trust of 10 million people to manage their money. Entrepreneurs who want to join the Fintech revolution can work with Omninos to develop a Grow clone.
What Constitutes Our Groww Like The Solution’s Core Elements?
- Know Your Customer (KYC) checks should be performed automatically for all trades. This stops fraud and the illegitimate appropriation of funds. Similar to Grow clones, people can quickly build their accounts.
- Section with graphs and charts Instantaneous access to statistical information is accessible on our Groww clone. Registered investors will be aware of price fluctuations for fixed deposits, recurrent payments, and savings plans as well as the past performance of various financial products.
- modern search and filtering technology Want to find the ideal mutual fund? The assets under management (AUM), minimum and maximum investment amounts, price to earnings (P/E) ratio, and annual returns are among the various filters that customers can use.
- a variety of security methods There are many security precautions you may take to guard against hacking, phishing, and scam assaults. With 128-bit encryption, multi-factor authentication, and Secure Sockets Layer, our Groww-like software safeguards investors (SSL). As a result, users will get instant notifications if someone tries to access their funds without authorization.
- Shares can be traded in one click. The Grow similar platform is known for its exceptional level of convenience. Financial assets can be bought and sold quickly by potential investors. This guarantees customers never miss
- the opportunity to invest in assets when the markets are favourable.
- One-click stock trading: The Grow similar platform epitomises convenience at its finest. Financial assets can be bought and sold quickly by potential investors. This guarantees that they never skip investing in instruments during a bull market.
- Opening a Demat account without paper is possible. A Demat account can hold all of the securities and shares of publicly traded companies. Users can avoid tedious paperwork. With reliable digital procedures, they have unrestricted access to it.
- Popular on Groww section – A panel shows the financial assets with the highest returns. Both commercial and public sector corporations’ mutual funds and equities are promoted.
Instantaneous Portfolio Management
It’s simple to manage portfolios on the Grow clone. People can simply move their money from traditional mutual funds to direct mutual funds.
They can keep track of the profits made over a period. Information on internal and external mutual investments is readily available. Users can also divide their mutual fund earnings into 4 caps (large, mid, multi, and small). On the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE), respectively, they can monitor the movement of MFs.
Sharing of Financial News in Real Time
A well-known saying is that “the most valuable commodity I am aware of is information.” Our platform, like Groww, disseminates real-time news, stock market movements, and video updates. Indian customers would eventually be able to choose wisely when investing.
Cutting-Edge MF Calculator
Users will be aware of the precise returns they would make over time. We have a sophisticated Mutual Fund (MF) calculator on our app-like Groww. After a certain amount of time, investors will be aware of the anticipated yields from bonds and equities.
For each of the three types of mutual funds, automatic updates will be delivered (debt, equity, and hybrid). They can also make use of the Systematic Investment Plan (SIP). Customers will be informed of the earnings from various mutual fund schemes over a certain time period.
What Kind Of Business Model Would Be Used For A Grow-Type Platform?
When you own a Grow like the app, there are several revenue sources available to you. This includes exchange transaction fees for trading on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE), commission per buy or sell order on equity brokerages, contract value fees for physical delivery of derivatives, deposit participatory fees, futures and options brokerages, Goods and Service Tax (GST), SEBI turnover fees, securities transaction tax (STT), and stamp duty.
Since all of the trading in fixed deposits, futures and options, gold, and US equities takes place online, the running costs are likewise at a minimum. A physical building is not required in order to run a stock exchange.
What Does It Cost To Develop A Groww Clone App?
- The cost of developing a platform like Groww is dependent on a number of variables.
- Observance of the rules established by the Securities and Exchange Board of India and the Associated Mutual Funds of India (AMFI) (SEBI)
- Entrepreneurs like you require a certain degree of customisation.
- upkeep of the mobile apps for iOS and Android.
- the platform’s features and functionalities’ types.
- the kinds of technologies and frameworks employed.
- The Grow clone’s front end and back end development took some time.
- App developers, marketing professionals, and website designers all receive compensation.
Groww has, above all, caught the perspective of Indian investors. They seek high returns in a short period of time. The firm is specifically aiming to attract traders between the ages of 25 and 40. The company with headquarters in Karnataka will aim for a staggering 200 million users with new funding of $250 million.
The Groww platform seeks to make purchasing and selling stocks for financial assets easier as face-to-face investing competes with online trading. It’s interesting to note that the Indian app intends to go into cryptocurrency trading. This will make it easier for it to draw in institutional investors from all over the nation.