Investment Apps and Index funds to start with
Is Indmoney or Groww which app is good to use. And which index fund shall I start with
I'm a complete beginner about investing and have no idea on how to start and what to start with. Will appreciate any suggestions or advice.
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Both are decent. IndMoney also helps you invest in US stocks so that is added advantage. To start with you can invest in nifty 50 index fund of your liking. To select which fund to select look at the exit rate, volatility rank etc
Seriously? Bro has not even started to invest, and he needs to invest in usa stocks? What is exit rate? What is volatility in an MF? What is a rank in an MF? If any rando gives a rank you'll follow?
You've got bigger problems than OP. Please research on financial planning first.
Thats the problem with people like you! Trying to become keyboard warriors whenever they get a chance.
You think OP will use the app for a week or two? Its a long term thing and I just mentioned that IndMoney also offers a feature to invest in US markets. No where I mentioned that OP should invest in US markets.
What is exit rate etc is for OP to know how go select MF. And I believe OP can do basic research before selecting anything. But if you had so much problem with my response you could have explained that but no you just wanted to barf here and come across as a smart ass.
I may have problems but being an asshole to random people on internet isn’t one of them.
Groww is good. Index fund - depends on your risk appetite. If you want to go with the market returns, just go for any major Nifty 50 index fund or ETF. I would suggest this as you are just starting.
If you can take more risk, go for something like Zerodha Nifty LargeMidcap 250 Index Fund or a small cap index fund.
Use any app - groww, kuvera, fisdom, coin, indmoney
Don't look at features as they increase over time. Just something easily understandable and usable. Indmoney UX has gone to hell.
Invest in 1 fund for now, like nifty 50. Then once you've saved up 5L in nifty 50, look at a decent flexicap fund.
Set up goals (hypothetical ones) for your investments
Been using Kuvera for long time (not issues so far), and try mix of index, large, mid and small cap funds