Motilal Oswal review
Independent review of Motilal Oswal — brokerage, app, account opening, customer support and the kind of investor it actually fits. Motilal Oswal is a full-service broker founded in 1987.
Brokerage at a glance
Headline brokerage on the default Motilal Oswal standard plan. On top of brokerage you also pay STT, exchange transaction charges, SEBI fee, stamp duty, GST and DP charges — see full charges for the breakdown.
About Motilal Oswal
Motilal Oswal is a full-service broker founded in 1987. Default brokerage is 0.20% on equity delivery, 0.02% on intraday and futures, and ₹20 per lot on options. AMC is free for the first year, ₹199 per year thereafter. Value Pack prepaid plans (₹2,500 to ₹1L) offer lower rates for active traders — verify exact tiers with your relationship manager.
Opening a Motilal Oswal account
Account opening is fully online for Indian residents. Keep your PAN, Aadhaar (with mobile linked for OTP), a bank cancelled cheque or statement, a passport-size photo and a signature on white paper handy. Aadhaar e-KYC, in-person video verification and e-sign typically take 1–3 working days end-to-end. Start at www.motilaloswal.com.
Alternatives to Motilal Oswal
See the full ranked list of every retail broker in India on the stock brokers in India page. To compare exact landed cost on a typical trade, use the brokerage calculator — switch brokers in the dropdown without leaving the page.
Frequently asked
What people ask about Motilal Oswal.
Motilal Oswal is SEBI-registered and holds NSE / BSE membership, so it meets the regulatory bar every Indian broker must clear. Whether it is a good fit depends on what you trade. Compare the live brokerage and statutory charges on the Motilal Oswal brokerage calculator before deciding.
Equity delivery is 0.2%. Equity intraday is 0.02%. Equity options is Flat ₹20/lot. On top of brokerage you pay STT, exchange transaction charges, SEBI fee, stamp duty, GST and DP charges. The brokerage calculator on this site shows the all-in landed cost for a sample trade.
Motilal Oswal is registered with SEBI and a trading member of NSE / BSE. Demat accounts are held with CDSL or NSDL — the broker does not hold your shares, the depository does. Funds are held in a SEBI-regulated client bank account separate from the broker's own funds. The risk to investors from broker failure is limited; the larger risk to manage is account fraud via phishing and OTP sharing.
The app covers order placement, watchlists, holdings and statements.. For a full feature list and download links see the Motilal Oswal app page.
Account opening is fully online for Indian residents. You need PAN, Aadhaar (with mobile linked for OTP), a bank cancelled cheque or statement, a passport-size photo and a signature on white paper. Aadhaar e-KYC, in-person video verification and e-sign typically take 1–3 working days. Apply via https://www.motilaloswal.com.
Discount brokers comparable to Motilal Oswal include Zerodha, Groww, Upstox, Dhan and Angel One. Full-service alternatives include ICICI Direct, HDFC Securities, Kotak Securities and Sharekhan. Compare brokerage rates side-by-side on the brokerage calculator before switching.