Best app for SIP

[astro-here]

Hi,
I am a working professional planning to invest 15k per month in SIP with 10% step up every year. I plan on diversifying it in 7k small cap 5k Mid cap and 3k largecap.
Can anyone suggest me which platform to use like zerodha coin or groww or even INDMoney for that matter.

PS: I am already investing in INDMoney for US Stocks sip. I invest in S&p 500 Vanguard ETF.

I am not sure if I should invest in mutual fund as well from the same application(INDMoney) as what will happen if the platform faces any problem. My 2l funds are stuck in WazirX.

 

[TaxWiser]

Hi,
I am a working professional planning to invest 15k per month in SIP with 10% step up every year. I plan on diversifying it in 7k small cap 5k Mid cap and 3k largecap.
Can anyone suggest me which platform to use like zerodha coin or groww or even INDMoney for that matter.

PS: I am already investing in INDMoney for US Stocks sip. I invest in S&p 500 Vanguard ETF.

I personally use INDmoney for my SIP investments and also use Groww, Dhan, and AngelOne for the SIPs of my family members. In my experience, there’s not much difference between these platforms in terms of functionality and ease of use. Each platform offers a user-friendly interface, a wide range of mutual funds, and the ability to track and manage investments efficiently.

INDmoney is particularly convenient for managing both US and Indian investments in one place, while Groww, Dhan and AngelOne provide robust features for mutual fund investments and stock trading. Ultimately, the choice of platform can come down to personal preference and specific features that you might find more useful.

I am not sure if I should invest in mutual fund as well from the same application(INDMoney) as what will happen if the platform faces any problem. My 2l funds are stuck in WazirX.

To avoid such circumstances, I prefer tracking my INR investment using MF Central, CDSL & MyCAMS. To get more context, watch following YT videos regarding the same:

Note: Nothing can ensure 100% safety in equity investments, the best we can do is to minimize the risk as much as possible. By spreading our investments and using reliable tracking tools, we can reduce the impact of potential problems with any single platform, thereby enhancing the overall security of your investment portfolio.

 

[astro-here]

Thanks for the response, so our mutual funds are stored with SEBI so no matter what happens to the broker our funds will be safe with SEBI. Is that the case right?

 

[TaxWiser]

Thanks for the response, so our mutual funds are stored with SEBI so no matter what happens to the broker our funds will be safe with SEBI. Is that the case right?

You're welcome! To clarify, mutual funds are not directly stored with SEBI. Instead, they are held by the mutual fund companies (AMCs) and are overseen by SEBI, which regulates and ensures the safety and transparency of these investments.

Even if a broker or platform faces issues, your mutual fund investments remain safe because they are held by the AMCs and are recorded with depositories like CDSL or NSDL. Using platforms like MF Central, CDSL, and MyCAMS helps you track and manage these investments independently of any single broker, providing an additional layer of security.

So, while SEBI regulates and protects the mutual fund industry, your investments are ultimately held by the AMCs and tracked by depositories, ensuring their safety regardless of the broker's status.

 

[cycleby]

Best way to invest in mutual funds via SIP is directly through AMC website.
For tracking you can download individual AMC app.
Always avoid third party apps like zerodha, groww, indmoney etc as they are storing your data and personal info.

 

[saurabh.s]

Best way to invest in mutual funds via SIP is directly through AMC website.
For tracking you can download individual AMC app.
Always avoid third party apps like zerodha, groww, indmoney etc as they are storing your data and personal info.

MFCentral is a better option

 

[astro-here]

But I guess every application is storing our data these days, so I was thinking to go with the INDMoney itself as I am already using it for investing in US Stocks. My primary concern was the loss of funds as similar thing happened with me in WazirX.
And its complicated to navigate over AMC or MFCentral. I will be primarily using IND money for mutual funds and individual stocks can be done on Kite Zerodha. Any suggestions?

 

[zacobite]

Hi,
I am a working professional planning to invest 15k per month in SIP with 10% step up every year. I plan on diversifying it in 7k small cap 5k Mid cap and 3k largecap.
Can anyone suggest me which platform to use like zerodha coin or groww or even INDMoney for that matter.

PS: I am already investing in INDMoney for US Stocks sip. I invest in S&p 500 Vanguard ETF.

I am not sure if I should invest in mutual fund as well from the same application(INDMoney) as what will happen if the platform faces any problem. My 2l funds are stuck in WazirX.

MFs are not linked to platform.. U can use any one.. IND M is a good option, ET Money, GROWW, Zerodha are a few others

 

[Vinayak Khanekar]

Call me for financial planning