Are you looking to invest in US stocks but unsure of how to get started? Look no further! The Groww app offers a user-friendly platform for Indian investors to buy and trade US stocks. In this article, we will guide you through the process of purchasing US stocks through the Groww app, step by step.
Why Invest in US Stocks?
Investing in US stocks can be an excellent way to diversify your portfolio and gain exposure to a global market. The US stock market is one of the largest and most liquid in the world, offering a wide range of investment opportunities across various sectors and industries.
Step-by-Step Guide to Buying US Stocks in the Groww App
- Download and Install the Groww App
The first step is to download and install the Groww app on your smartphone. You can find the app on the Google Play Store for Android devices or the Apple App Store for iOS devices.
- Create an Account
Once you have installed the app, create a new account by entering your details, including your name, email address, and phone number. You will also need to set up a password for your account.
- Complete the KYC Process
To comply with regulatory requirements, you need to complete the Know Your Customer (KYC) process. This involves uploading a government-issued ID proof and a photograph. You can also upload your PAN card to link your Demat account.
- Link Your Bank Account
To make transactions, you need to link your bank account to the Groww app. This can be done by entering your bank account details and verifying the account through an SMS or an OTP sent to your registered mobile number.
- Create a Demat Account
A Demat account is essential for buying and holding stocks. If you don't already have a Demat account, you can create one through the Groww app. You will need to provide some basic details and submit a copy of your PAN card.
- Search for US Stocks
Once your Demat account is created and linked, you can start searching for US stocks. The Groww app offers a wide range of US stocks across various sectors and industries. You can search for stocks by name or ticker symbol.
- Place an Order
After finding a US stock you want to buy, you can place an order by entering the quantity and price. You can choose to place a market order or a limit order. A market order will execute at the current market price, while a limit order will execute only at the specified price or better.
- Monitor Your Investments
Once your order is executed, you can monitor your investments in the Groww app. You can track the performance of your US stocks, view your portfolio, and receive real-time alerts on price movements.
Case Study: Investing in Apple Inc.
Let's consider an example where you want to invest in Apple Inc. (AAPL). After searching for the stock in the Groww app, you find that the current market price is
After placing the order, your investment is executed, and you now own 10 shares of Apple Inc. You can track the performance of your investment in the Groww app and view its value in real-time.
Conclusion
Investing in US stocks through the Groww app is a straightforward process that can be completed in just a few steps. By following the guidelines outlined in this article, you can diversify your portfolio and gain exposure to the global market. So, what are you waiting for? Start investing in US stocks today!
