Motilal Oswal Securities is a subsidiary of Motilal Oswal Financial Service Limited which is a diversified financial services providing firm offering a range of products and services such as Wealth Management, Retail Broking and Distribution, Institutional Broking, Asset Management, Private Equity, Investment Banking, Commodity Broking, Currency Broking, Principal Strategies and Home Finance. The broker offers to trade in equities, derivatives, currencies and commodities across multiple stock exchanges BSE, NSE, NCDEX, MCX, MSEI. Motilal Oswal Securities is a Depository Participant of NSDL and CDSL.
The broker offers most in-depth research reports on more than 225 companies and 25 Indian sectors. Another positive factor of Motilal Oswal is that the firm has a huge network of 1,900 local branch offices in over 500 cities within India, so you can take in-person help on account opening and take advice for your investing needs. Motilal Oswal has a strong base of over 10, 00,000 happy customers with Rs 69, 561 cr plus depository assets.
Motilal Oswal call themselves as a 3 in 1 service provider. To avail this facility you have to have an online trading and demat account with them and an internet-enabled bank account with either HDFC Bank, CITI Bank or ICICI Bank. Then only seamless execution of trades is possible since 3-in-1 account links your Trading, Demat and Bank Account. Other add-on features of the broker are timely research reports, customer-centric Risk Management System and real-time payouts.
On customer care, we found Motilal Oswal to be good but not award-winning. The broker claims to have dedicated customer service team with a 4-hour query resolution time. Email and phone support are there but nothing like any live chat or 24*7 customer support is seen on their website. Call and trade facility is available to all its customers for free.
Motilal Oswal is the well- established and big player in stock broker's field. From advisory services to research, active trading, customer service, ease of use and more, Motilal Oswal understands what it means to provide a high-quality offering. Motilal Oswal assets lies in its powerful Research and strong Tips and Recommendation.
Free Demat and Trading Account and Rs 2000 joing bonus.Sign up now.
Here we are comparing Motilal Oswal with its 5 close competitors on investment options.
| Broker | Motilal Oswal | Sharekhan | 5paisa | Zerodha | SAMCO |
| Equity Trading Type | Yes | Yes | Yes | Yes | Yes |
| Currency Trading | Yes | Yes | Yes | Yes | Yes |
| Commodity Trading | Yes | Yes | Yes | Yes | Yes |
| Mutual Funds | Yes | Yes | Yes | Yes | No |
| MF SIP | Yes | Yes | Yes | Yes | No |
| ETF Investment | Yes | Yes | Yes | Yes | Yes |
| Banking | No | No | No | No | No |
| Insurance | Yes | Yes | Yes | No | No |
»» Trading Account Opening Charges: Rs 600
»» Trading Account AMC: Free
»» Demat Account Opening Charges: Free
»» Demat Account AMC: Rs 400 PA
The Brokerage Plan of Motilal Oswal is customized to suit your needs and risk appetite. May be that's the reason why the Brokerage charges are not disclosed anywhere on the website.
The Broker offers two plans which they name as Value Pac Scheme and Margin Scheme. Let's talk about both the Schemes in detail.
Motilal Oswal's Value Pac Scheme : This plan works on the principle that you have to deposit the upfront fee for particular time frame to avail brokerage rates accordingly.The upfront fee starts from Rs 2500 for one month to Rs 2500 or Rs 5000 for 3 months, 25,000 for 6 months or Rs 50,000 for 12 months.
What is the catch of this plan:- The brokerage charged till the expiry of scheme period shall be reversed subject to maximum of upfront fees charged to the client. Any brokerage generated over and above the upfront fees charged to the client will not be reversed.
In case client fails to generate brokerage equal to the scheme selected within the validity period, he shall be automatically shifted to default brokerage plan and will not be eligible for special brokerage of the scheme. The client shall be refunded brokerage generated during validity period.
In case post usage/expiry of value pack of value greater than 10,000 INR the customer will have to pay a minimum brokerage of Rs 3,000 /6 months to avail exe facility. In case of lesser brokerage client will be shifted to the web version and in case the brokerage is less than 1,500/6 months he will be shifted to static product.
The Brokerage for Equity Delivery for Rs 2500 a month is .25%. The brokerage is among the lowest in the industry but at the cost of paying the upfront money. The brokerage ranges from .30% to
.18%.Brokerage for intra-day with Value Pac Scheme range from .03% to .015% for upfront fee as mentioned above which again falls in lower side as compared to other brokers.
Brokerage for Equity Future 1st and 2nd leg square off any other day ranges from .03% to .025% and 2nd leg if squared off same day ranges from .03% to .01%.
Brokerage for Equity Option ranges from Rs 70 to 50 which is average rate charged by most of the full service Brokers.
Brokerage for Currency Future and Option is flat Rs 20 for any amount of upfront fee.
The minimum Brokerage for Value Pac Scheme is 3 paisa to 1 paisa.
Motilal Oswal's Margin Scheme : In this scheme the client has to deposit certain amount of margin money that he can use for trading in derivatives. The Margin amount requirements are Rs 1000, Rs 10,000, Rs 25,000 or Rs 50,000. The pre-requisite requirement by the Broker for this Scheme is that there is Brokerage of Rs 20 per exchange per day should be generated otherwise difference will be levied as minimum contract charges.
| Brokerage/Scheme | Margin 1,000 | Margin 10,000 | Margin 25,000 | Margin 50,000 |
| Equity Delivery | .30% | .30% | .25% | .25% |
| Intraday 1st leg and 2nd leg | .03% | .03% | .025% | .025% |
| Future 1st leg and 2nd leg | .03% | .03% | .025% | .025% |
| Option 1st leg and 2nd leg | Rs 100 | Rs 75% | Rs 75 | Rs 50 |
The Brokerage in margin scheme looks attractive and cheaper but it is not that simpler as we think. The broker returns the amount upto Rs 500 as brokerage cashback if generated within 30 days of activation.
The account opening charges for trading account under both the schemes is free.
Demat Account is mandatory with Motilal Oswal. AMC for Demat account is free for 1st year.
The minimum Brokerage for Margin Scheme is Rs 20 (per day if any transaction is done) for Delivery and Intraday and 3 to 2 Paisa for future trade. This minimum brokerage which they charge is really dampening for small time investor/traders.
For complete brokerage charges and trading plans detail please visit Motilal Oswal Brokerage Charges.
Here we are comparing Motilal Oswal with its 5 close competitors, who are currently market leader in brokerage industry.
| Broker | Motilal Oswal | Sharekhan | 5paisa | Zerodha | SAMCO |
| Service Type | Full Service Broker | Full Service Broker | Discount Broker | Discount Broker | Discount Broker |
| Brokerage Range | .05 to .5% | 0.1 to 0.5% | Rs 10 | Rs 20 | Rs 20 |
| Account Type | 2 in 1 | 2 in 1 | 2 in 1 | 2 in 1 | 2 in 1 |
| Equity Delivery | 0.5% or 50 paisa | 0.5% or 50 paisa | Flat Fee Rs 10 | Free | 0.2% or Rs 20 whichever is lower |
| Equity Intraday | 0.05% or 5 paisa | 0.1% or 10 paisa | Flat Fee Rs 10 | 0.01% or Rs 20 whichever is lower | 0.02% or Rs 20 whichever is lower |
| Equity Futures | 0.05% or 5 paisa | 0.1% or 10 paisa | Flat Fee Rs 10 | 0.01% or Rs 20 whichever is lower | 0.02% or Rs 20 whichever is lower |
| Equity Options | Rs 70 Per Lot | 2.5% of Premium or Rs 250 per lot whichever is high | Flat Fee Rs 10 | Flat Fee Rs 20 | Flat Fee Rs 20 |
| Commodity | 0.05% or 5 paisa | 0.1% or 10 paisa | Flat Fee Rs 10 | Flat Fee Rs 20 | Flat Fee Rs 20 |
| Currency Futures | 0.05% or 5 paisa | 0.1% or 10 paisa | Flat Fee Rs 10 | 0.01% or Rs 20 whichever is lower | 0.02% or Rs 20 whichever is lower |
| Currency Options | Rs 70 Per Lot | 2.5% of Premium or Rs 30 per lot whichever is high | Flat Fee Rs 10 | Flat Fee Rs 20 | Flat Fee Rs 20 |
| Rating |
Please refer unique and accurate Motilal Oswal Brokerage Calculator
Motilal Oswal offers clients access to their most powerful, fast & secure technology across all platforms: Motilaloswal.com (web-based) ,desktop-based and on Mobile Apps for tablets and Smartphones.
Desktop Based Platform : This is the downloadable trading terminal available for secure and super-fast trading with insight,action and review facility. The key features of this terminal are:
Web Based Platfrom: Motilaloswal.com is the safe and secure web portal of the broker for trading with confidence with all the advanced features like single sign on, fast order execution, Access to Market Summary , multiple Watchlist, recommendations and so on
.Mobile App based Platform : MOSLAPP is available to download on Android, Apple and Black Berry Smartphones and tablets. The app comes with all smart features like trading across all segments, multi-asset watch-list with real time quotes and advanced charts, recommendations and real time portfolio monitoring.
For detail review of mobile app and download please visit Motilal Oswal Trading Platform Review.
Here we are comparing Motilal Oswal with its 5 close competitors on Trading Platform.
| Broker | Motilal Oswal | Sharekhan | 5paisa | Zerodha | SAMCO |
| Desktop Windows | Yes | Yes | Yes | Yes | Yes |
| Desktop Mac | No | No | No | No | No |
| Web Trading | Yes | Yes | Yes | Yes | Yes |
| Android Tablet App | Yes | Yes | Yes | Yes | Yes |
| Android Mobile App | Yes | Yes | Yes | Yes | Yes |
| iPhone App (iOS Mobile App) | Yes | Yes | Yes | Yes | No |
| iPad App | Yes | Yes | Yes | Yes | No |
| Mobile Site | Yes | Yes | Yes | Yes | Yes |
For those seeking a quality research, professional planning for the future, and tips and recommendations, Motilal Oswal will not disappoint.
Also for investing in IPOs ,Motilal Oswal will be your best choice as they have facility to apply in IPOs online hassle free with online funds transfer facility for IPO account and modify and cancel bid and latest information and news on IPOs.
As far as Brokerage goes, Motilal Oswal may not be your best choice as even though the brokerage on paper looks attractive and cheaper but it comes with lots of terms and conditions that at the end the client feels his profit has cut down short.
The Brokers like this always generate brokerage whether you gain or suffer a loss. Nevertheless to say here that if more lower middle class people have to be invited to join the equity market, brokerage should be simplified without any hidden charges and clauses.
If you like what you have read and want to start trading, leave your contact information with us and we will guide you.
Ratings:
Brokerage - Very Poor
Account Maintenance Fees - Very Poor
Website Usability - Below Average
Customer Service - Very Poor
Overall Experience - Very Poor