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Motilal Oswal Review 2023

Rated 4 stars Rated 4/5 by Top Share Brokers Team
Last updated on: 14-Sep-2023
Motilal Oswal Securities Ltd Review
  1. Ranked #1 Broker in India
  2. Get 100% Free Delivery Trading
  3. Free Direct Mutual Funds & SIP

Motilal Oswal Review 2023 - Quick Summary

Extensive range of asset classes, award-winning research, personalized advisory services, great customer service, and dedicated MO Trader and MO Investor app are the key reasons that make Motilal Oswal an excellent broker for traders and investors.


Rated 4 stars

Motilal Oswal Top Highlight for 2023

  • One-stop shop to trade and invest across multiple assets.
  • Free paperless Demat account opening.
  • 30+ years of best-in-class research services.
  • Unique powerful platforms; MO Trader App, MO Investor App, and a trading terminal.
  • 2,200+ branches, sub-brokers, and franchisees across 500+ locations.
  • 30,000+ research reports on 260+ stocks, and 21+ sectors.
  • Dedicated personal advisory services.

About Motilal Oswal

Founded in 1987, Motilal Oswal Securities Ltd (MOSL) is one of the oldest full-service brokers in India that offers online trading and investment in stocks, equity derivatives, commodities, currencies, IPO, mutual funds, insurance, and fixed income products. It is among the most popular brokers for award-winning research and portfolio management services.

Open an instant paperless Trading and Demat account in Motilal Oswal to trade across multiple asset classes. The broker serves a diversified customer base including retail clients, high net-worth individuals (HNIs), foreign institutional investors, and corporate clients.

Whether you are an active trader or an investor, Motilal Oswal understands what you are looking for and offers you differentiated powerful trading platforms. MO Trader App and desktop trading terminal are the platforms for passionate traders with live-streaming charting, technical indicators, and advanced features. MO Investor App is particularly designed to invest in stocks and mutual funds.

Its research team works desperately to provide extensive research coverage with 30,000+ published fundamental & technical research reports on over 260+ companies operating in 21 different sectors.

Motilal Oswal has a widespread network of 2,200+ branches, partners’ and sub-brokers offices in 500+ locations in India to provide offline customer support. The broker assigns a dedicated advisor to every client to assist them at every point and provides stock investment ideas and recommendations.

Do you want to know more, read the latest and genuine Motilal Oswal Review 2023 to get an in-depth coverage of its brokerage charges, account opening process, trading platforms, customer care details, and trading pros & cons.

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Motilal Oswal Brokerage Plan, Fees and Charges

Rated 3 stars Brokerage and Commission Rated 3/5

Motilal Oswal has a percentage-based brokerage plan that charges a fixed percentage of brokerage fees on trading in different segments. Honestly speaking, MO charges high brokerage fee than top full-service brokers like Kotak Securities Trade Free Plan and ICICI Direct NEO flat brokerage plan. But the only considerable point for opening a Demat account in Motilal Oswal is free access to the broker’s research reports, stock market trading tips, and recommendations.

The full-service stockbroker charges a 0.02% fee on equity intraday and futures trading, 0.20% on delivery trading, equity, and currency options trading is charged at a fixed Rs 20 per lot, and commodity options trading is charged at Rs 200 per lot.

Motilal Oswal Account Opening Charges

Trading Account Opening Charges: Free
Trading Account AMC: Free
Demat Account Opening Charges: Free
Demat Account AMC: Rs 400 per annum [Free for 1st year]

Motilal Oswal Brokerage Plan with closest competitors

Here we are comparing Motilal Oswal with its 5 close competitors, who are currently market leader in brokerage industry.

Broker Motilal Oswal 5paisa Zerodha Upstox Paytm Money
Service Type Full Service Broker Discount Broker Discount Broker Discount Broker Discount Broker
Brokerage Range 0.02 to 0.20% Rs 20 Rs 20 Rs 20 Rs 20
Account Type 2 in 1 2 in 1 3 in 1 3 in 1 2 in 1
Equity Delivery 0.20% Flat Fee Rs 20 Free 2.5% or Rs 20 whichever is lower 2.5% or Rs 20 whichever is lower
Equity Intraday 0.02% Flat Fee Rs 20 0.03% or Rs 20 whichever is lower 0.05% or Rs 20 whichever is lower 0.05% or Rs 20 whichever is lower
Equity Futures 0.02% Flat Fee Rs 20 0.03% or Rs 20 whichever is lower 0.05% or Rs 20 whichever is lower 0.02% or Rs 20 whichever is lower
Equity Options Rs 20 per lot Flat Fee Rs 20 Flat Fee Rs 20 Flat Fee Rs 20 Flat Fee Rs 20
Commodity Futures: 0.02%| Options: Rs 200 Per Lot Flat Fee Rs 20 Flat Fee Rs 20 Flat Fee Rs 20 NA
Currency Futures Rs 20 per lot Flat Fee Rs 20 0.03% or Rs 20 whichever is lower 0.05% or Rs 20 whichever is lower NA
Currency Options Rs 20 per lot Flat Fee Rs 20 Flat Fee Rs 20 Flat Fee Rs 20 NA
Rating
Rated 4 stars
Rated 4 stars Rated 4.5 stars Rated 4.5 stars Rated 4 stars

Other Charges

  • Call & Trade Charges: NA
  • RMS Auto Square Off Charges: NA
  • Hidden Charges: No

For complete brokerage charges and trading plans detail please visit Motilal Oswal Brokerage Charges.

Please refer unique and accurate Motilal Oswal Brokerage Calculator


Type of Account offered by Motilal Oswal

The full-service broking firm facilitates Indian residents and foreign national (NRI) clients to invest in the Indian stock market. Check out the types of accounts offered by Motilal Oswal as follows;

Motilal Oswal Demat and Trading Account

Open a 2-in-1 account means a Demat and trading account with Motilal Oswal, and start trading in stocks, derivatives, commodities, and currencies segments. Having a Demat Account in Motilal serves you the following benefits;

  • Trade and invest across multiple asset classes.
  • 5000+ stocks are available on MO Trader and MO Investor App.
  • Free 1st month brokerage benefit.
  • Zero Demat AMC for Lifetime.
  • Secure fund transfer.
  • Expert-curated stock investment ideas and research.
  • Personal advisory services with Intelligent Advisory Portfolios (IAP).
  • Invest in IPOs and mutual funds for free.
  • Motilal Oswal facilitates free account opening at nil account opening charges and also 1st-year demat maintenance fee is zero.

Motilal Oswal Global Investment Account

  • Motilal Oswal allows investment in US equities by opening a global investment account. You can invest in the companies listed on the US stocks such as CocoCola, Uber, Amazon, Facebook, PayPal, Nike, and others. There is no minimum balance required in the global account and also no AMC is charged.

Motilal Oswal NRI Account

  • Are you a Non-resident Indian (NRI) and looking to invest in Indian stocks? If yes, open Motilal Oswal NRI’s two-in-one account that combines NRI trading and NRI Demat Account. Before opening, you must have an NRE or NRO bank account as well as Portfolio Investment Scheme (PIS) scheme letter.
  • The full-service broking firm has collaborated with HDFC Bank for NRI bank account opening. NRI customers can invest in stocks (Delivery trade), equity derivatives, IPOs, mutual funds, PMS, and fixed-income products.

How to open Motilal Oswal Account online?

Motilal Oswal claims to be India’s first broker to offer a 100% paperless account opening procedure that allows customers to open an online trading cum demat account in not more than 15 minutes. The account opening journey is kept simple, instant, and superfast so that you can start trading in just a few minutes.

Steps to open Motilal Oswal Demat & Trading Account;

  1. Go to the website, and click on the “Open Demat Account” tab on the top right side.
  2. Enter your name and mobile number.
  3. Enter a 4-digit OTP sent to your mobile number.
  4. Sign up with your email ID and verify it with OTP.
  5. Provide personal info like marital status, qualification, occupation, income, and experience.
  6. Verify KYC with PAN card number, date of birth (DOB) as per PAN, and upload PAN.
  7. Complete the e-KYC process by uploading all the documents like aadhaar card, bank details, etc.
  8. Verify details and e-sign your account opening form with aadhaar-OTP.
  9. That’s all! Once the documents are verified, you can start trading on BSE, NSE, and MCX.
  10. You will get a Demat Account number/ unique client ID on your registered email address.
  1. Free Demat Account
  2. 100% Free Delivery Trade
  3. Online Account Opening

Alternatives to Motilal Oswal

 Demat Account
 Demat Account
 Demat Account
 Demat Account

Motilal Oswal Mobile App and Trading Platforms

Rated 4.5 stars Trading Platforms Rated 4.5/5

Motilal Oswal offers robust modern-technology online stock market trading platforms across all devices. It has a dedicated mobile app for active traders and investors, and a desktop trading terminal. Let’s have a quick review of the Motilal Oswal trading platforms;

Motilal Oswal Trader Mobile App

  • MO Trader app is a best-of-its-kind online stock trading app that functions extremely fast with 1 second refresh time when you place buy and sell orders. Multiple personalized watchlists, detailed stock analysis, 29+ technical scanners, advanced charting tools, future & options analytics, real-time stock market performance, order slicing, price alert & news are the top features.
  • Enjoy the powerful trading experience with the fastest trading app specially designed for passionate traders. MO Trader app is compatible across the web and Android & iOS mobile app devices.

Motilal Oswal Investor Mobile App

  • MO Investor app allows trading & investing in stocks, mutual funds, and other investment products. Easy on-boarding process, multi-asset watchlist, trade or invest in 5000+ stocks, stock SIP, apply for IPOs online, mutual funds investment, expert research on 250+ stocks, and AI-powered investment advisory are the features that make it the best share market app in India.

Motilal Oswal Desktop Trading Terminal

  • The full-service broker has a full-fledged installable desktop trading terminal for high-frequency active traders. The superfast desktop software is feature-loaded such as multiple watchlists, next-gen advanced charting, 50+ technical indicators, F&O analytics, news analytics, portfolio health check-up, access to the trading calls & research, and quick order execution with a 1-second refresh, and short-cut keys.

For detail review of mobile app and download please visit Motilal Oswal Trading Platform Review.


Motilal Oswal Trading Pros

There are enormous benefits or advantages of trading with Motilal Oswal. Here are the reasons that make it a good fit for both traders and investors;

  • Choice of asset classes i.e., equities, derivatives, commodities, and currencies.
  • Free Demat and trading account opening.
  • Zero maintenance fee for 1st year.
  • Free mobile app for traders (Trader App) and investors (Investor App).
  • Invest in mutual funds and IPOs for free.
  • Free research reports & recommendations.
  • Safe & secure fund transfer with 39+ banks.
  • Access features; StockSIP, IAP (Algorithm advisory), and improve my portfolio (PR).
  • Margin trading and margin against shares
  • Free call & trade service.
  • EDUMO (free learning platform) for beginners, intermediate, and advanced traders.

Motilal Oswal Trading Cons

There are some drawbacks or disadvantages that might discourage you to not opening an account with Motilal Oswal. Here are some important trading cons;

  • High brokerage charges
  • Unlike many full-service brokers like Kotak, ICICI, etc., Motilal Oswal does not have any flat discount brokerage plan.
  • You cannot open a 3-in-1 account, Demat + Trading + Bank A/c.
  • It only provides regular mutual fund schemes.

Motilal Oswal Customer Care info

Thanks to good customer support! Yes, Motilal Oswal being a full-service stockbroker maintains a strong customer connection across all communication touch points whether it is online or offline.

It has a dedicated account opening service desk (helpline number and email) to resolve your account opening-related problems while the customer support desk resolves every kind of client query. It further extends customer care via a personalized advisor for each client.

Apart from this, you can also seek offline branch support at any of Motilal Oswal branches, sub-broker offices, and franchisees spread across 500+ locations all over the country. The company maintains an acceptable turnaround time for every query resolution.

  • Motilal Oswal Account Opening Helpline: 022 40548383
  • Motilal Oswal Account Opening E-mail: [email protected]

Final thought about Motilal Oswal

Rated 4 stars Rated 4/5 by 57 users

Motilal Oswal has completed a successful journey of 30+ years in the broking space that itself speaks about its strong foundation. Its strength lies in its best expert research & advisory, portfolio management services, great customer services, and dedicated platforms for trading and investment.

Regardless of whether you are a trader or an investor, open a Motilal Oswal Demat & Trading account now and get the best stock investment ideas and advisory. However, if you are a beginner and looking for the lowest brokerage trading account, Motilal Oswal is not a recommended broker rather you can consider opening discount brokers like Zerodha, Upstox, and ProStocks.

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Last updated on: 2023-09-14

FAQs

Yes, Motilal Oswal is a trustable stock broker in India, who is active in the stock market for more than 30 years. This stock broker is registered with SEBI and it is also a member of NSE, BSE, MCX and NCDEX. Motilal Oswal has a physical branch office in 500+ cities in India. You can visit their branch office nearby your town. This full-service stock broker also provides dedicated financial services to its client for managing their portfolio and other financial services.

 

Motilal Oswal is a trustable stock broker in India. That provides some unique features to make trending easy and comfortable for every generation’s people :

  1. TradeGuide Signal : Trading AI tool kit.
  2. Order Generator : Share orders with anybody whom you want to share.
  3. Strategy Builder : Option Strategies

 

Benefits of F&O trading from Motilal Oswal MO Investor are given as follows:

  1. User-friendly MO trading platform.
  2. Option Strategy Builder : an innovative F&O trading tools kit.
  3. Advanced order placement features
  4. Dedicated financial support.
  5. Real-time market research and report:- To update the underlying assets and price changes.
  6. Free account opening and competitive brokerage of F&O trading.

 

With Motilal Oswal, you can place different types of orders, given the following :

  1. Limit Order
  2. Market Order
  3. Motilal Oswal Stop-Loss order
  4. Cover Order
  5. Bracket Order
  6. IOC (Immediate Or Cancel) Order
  7. AMO (After Market Order)

 

Follow these steps to place AMO (After Market Order) in Motilal Oswal :

  1. Login to the MO Trader or MO Investor app.
  2. Now select the stock on which you want to place an AMO order.
  3. Select the Product type (Normal, MTF, Delivery and Value+), and Order type.
  4. Set the Stock’s quantity and price.
  5. Click on the Advance option and check the box “Place this order after market hours.
  6. Hit on Big Buy order.
  7. Check your order in the “order book” from “view status.”

 

Yes, Motilal Oswal is a full-service stock broker that provides a personal financial advisor to its customer. This financial advisor helps the client in financial sectors such as: MF, Loans, trading, etc.

 

Yes, Motilal Oswal MO Trader provides Option Trading services. For this option trading it also provides many option strategies and tools.

 

Yes, you can re-activate your trading account in Motilal Oswal by following the procedure :

  1. To re-activate the account, you need to send the account activation request to the Depository Participant by E-mail or post a letter.
  2. As the DP received your request, you need to complete the KYC process again.
  3. Complete your in-person verification process.
  4. After completing all these formalities, your account will reactivate, and you can start trading again.

 

Compare Motilal Oswal

Find out how Motilal Oswal stacks up against other brokers

Motilal Oswal Securities Ltd User Reviews

36. Sandeep Aug 15 2023 01:21:52 PM Reply
It shows messages and mtm balances inaccurate sometimes. Not clear in charges and brokerage. Everything seems hidden 😕. But it''s good to trade however. Apps not upto mark they need lot of improvement in case of details in charges when doing trade

Ratings:

Brokerage - Above Average
Account Maintenance Fees - Above Average
Website Usability - Very Poor
Customer Service - Excellent
Overall Experience - Above Average
35. SHAKTI KUMAR YADAV Jun 15 2023 07:04:57 PM Reply
MOTILAL OSWAL IS A WORSE COMPANY WHO MAKING PEOPLES FOOL ON THE BEHALF OF THEIR ADVISORS.THEY ARE MAKING PEOPLE FOOLS TO GENERATE THEIR REVENUE AND BROKERAGE CHRGES. THEY ARE ONLY BOOKING THEIR PROFIT FOR THE COMPANY. LITERALLY I WANTS TO DROP A MESSAGE FOR THE PEOPLES NEVER TRUST ON MOTILAL OSWAL AND NEVER USE THEIR SERVICES OR APPLICATIONS.

BROKERAGE - VERY VERY POOR
ACCOUNT MAINTENCE FEES - VERY POOR
CUSTOMER SERVICE - WORSE
OVERALL EXPERIENCE - WORST
34. SHAKTI KUMAR YADAV Jun 15 2023 06:55:12 PM Reply
The advisors in Motilal do not alert about the loss. They simply motivate us to trade irrespective of gain or loss, for their gain. Their daily calls work only 20%. And brokerage value differs when trading is done. GST value in one trade should be explained at the time of opening an account by Motilal sales member or atleast by the brokers/advisors, but they didn''''t. Total waste of money n time in spending with you. Customer service is too worse. Your advisors have also no common sense to talk with their customer.
33. ajay Jun 06 2023 04:28:20 PM Reply
Bakwas company, dont ever trade through them, dont waste your hard earned money on this company, they spend your money as if they got it free (somewhere on road), they are looters, they only care for their fees, whether customer gains or losses non of their concern...

they work like the MET dept of India who predicts rain by looking at the sky, today it will rain, tomorrow it wiil, today it wont.. same way MO guys predict whether it will fall or rise...

Thier staff keeps on changing frequently, very un-professional company..
32. SHAILESH JAIN Jul 09 2017 04:44:17 AM Reply
MOST DISHONEST BROKER, NOT RELIABLE FOR ANYTHING, JUST SAYS MANAGMENT DECISION

Ratings:

Brokerage - Very Poor
Account Maintenance Fees - Very Poor
Website Usability - Very Poor
Customer Service - Very Poor
Overall Experience - Very Poor
32.1. Devender Sep 24 2022 07:29:04 PM
Sir, all those who got cheated by Motilal Oswal should come on a single platform and start campaigning against these cheaters, they have cheated me, and now I am going to put my experience on social media channels. If you also want to join me in this, kindly revert me. My contact is 9772406363. Also, join me on Twitter and retweet my tweets on #boycottmotilaloswal.
31. Prem Sep 28 2018 04:03:03 AM Reply
The advisors in Motilal do not alert about the loss. They simply motivate us to trade irrespective of gain or loss, for their gain. Their daily calls work only 50%. And brokerage value differs when trading is done. GST value in one trade should be explained at the time of opening an account by Motilal sales member or atleast by the brokers/advisors, but they didn''t. Total waste of money n time in spending with you. Customer service is too worse.

Ratings:

Brokerage - Very Poor
Account Maintenance Fees - Average
Website Usability - Above Average
Customer Service - Very Poor
Overall Experience - Very Poor
31.1. Devender Sep 24 2022 07:27:36 PM
Sir, all those who got cheated by Motilal Oswal should come on a single platform and start campaigning against these cheaters, they have cheated me, and now I am going to put my experience on social media channels. If you also want to join me in this, kindly revert me. My contact is 9772406363. Also, join me on Twitter and retweet my tweets on #boycottmotilaloswal.
30. Manoj Patil Aug 11 2018 04:02:15 PM Reply
I am a customer of motilal oswal but more brokerage charges taken from me. I open d mat in Omotilal oswal for advisory support but very poor performance from advisor.
please dont open Dmat through Omotilal oswal

Ratings:

Brokerage - Below Average
Account Maintenance Fees - Excellent
Website Usability - Below Average
Customer Service - Very Poor
Overall Experience - Very Poor
30.1. arun verma Jan 25 2019 12:19:06 PM
8285318352 edelweiss broking for less brokerage and better services
30.2. Devender Sep 24 2022 07:26:41 PM
Sir, all those who got cheated by Motilal Oswal should come on a single platform and start campaigning against these cheaters, they have cheated me, and now I am going to put my experience on social media channels. If you also want to join me in this, kindly revert me. My contact is 9772406363. Also, join me on Twitter and retweet my tweets on #boycottmotilaloswal.
29. Neelambar Feb 25 2019 04:03:53 PM Reply
very bad experience with motilal. their accuracy in research calls from equity, commodity and currency are around 20-30%. Dont open account in motilal. choose any discount broker.

Ratings:

Brokerage - Very Poor
Account Maintenance Fees - Above Average
Website Usability - Below Average
Customer Service - Above Average
Overall Experience - Very Poor
29.1. Imran Ali Mar 12 2019 07:41:54 AM
very bad experience all services is poor hidden charges very high ,
DHOKA! DHOKA !DHOKA !
29.2. Devender Sep 24 2022 07:25:49 PM
Sir, all those who got cheated by Motilal Oswal should come on a single platform and start campaigning against these cheaters, they have cheated me, and now I am going to put my experience on social media channels. If you also want to join me in this, kindly revert me. My contact is 9772406363. Also, join me on Twitter and retweet my tweets on #boycottmotilaloswal.
28. devendra May 16 2019 04:55:14 PM Reply
Motilal Oswal Securities Ltd is the worst brokerage firm.Very poor advisory service.I had lost almost 40-50 % in last 4 months only because of poor advisory.
All the calls provided them are so worst that it will happen in the reverse.
The staff work for there own earning (commission) & not for clients good.
I don''t see a single reason to recommend MOSL to anyone.
PZ5950

Ratings:

Brokerage - Very Poor
Account Maintenance Fees - Very Poor
Website Usability - Very Poor
Customer Service - Very Poor
Overall Experience - Very Poor
28.1. Devender Sep 24 2022 07:24:55 PM
Sir, all those who got cheated by Motilal Oswal should come on a single platform and start campaigning against these cheaters, they have cheated me, and now I am going to put my experience on social media channels. If you also want to join me in this, kindly revert me. My contact is 9772406363. Also, join me on Twitter and retweet my tweets on #boycottmotilaloswal.
27. Kalyan banerjee Sep 04 2019 04:11:42 PM Reply
This to bring into your notice that Motilal Oswal is cheating . This is a fraud company. I invested Rs. 5000 to trade but they deducted 4600 and activated value packs and amc free services without giving full and proper information and I also told them before hand that I dont want any other service and want to make full use of the amount that I am investing. Dont fall in their trap because they are here to loot money and also they deduct money without clients permission. They think clients money is their own property and can anything with the money and they dont even bother to reply also.
27.1. Devender Sep 24 2022 07:23:26 PM
Sir, all those who got cheated by Motilal Oswal should come on a single platform and start campaigning against these cheaters, they have cheated me, and now I am going to put my experience on social media channels. If you also want to join me in this, kindly revert me. My contact is 9772406363. Also, join me on Twitter and retweet my tweets on #boycottmotilaloswal.