Top Stock Advisory
Motilal Oswal vs. Progressive Share
All stockbrokers charge you a fee for carrying out trading transactions. They charge you different fees for different asset classes. So, to maximize your returns and best trading experience, you need to choose the best stock broker.
Among the best stockbrokers in India, two top names are Motilal Oswal and Progressive Share. Please find a thorough comparison study for both the stock brokers, and find the table below for the comparison of Motilal Oswal and Progressive Share.
Overview
Motilal Oswal is public company and Progressive Share is private company. both are full service broker as well. Ramdeo Agarwall co-founded Motilal Oswal in 1987. And Progressive Share was founded in the year 1994 by Anil Gaggar. Motilal Oswal's headquarters are in Mumbai, India and Progressive Share's headquarters are in Mumbai, Maharashtra.
Motilal Oswal and Progressive Share both are full service broker as well. Motilal Oswal is registered in BSE, NSE, MCX, while Progressive Share is registered in NA. The total branches of Motilal Oswal are 305 and the Progressive Share branches are Nil.
| Overview | Motilal Oswal | Progressive Share |
|---|---|---|
| Broker Type | Full Service Broker | Full Service Broker |
| Type of company | Public | Private |
| Headquarter | Mumbai, India | Mumbai, Maharashtra |
| Founders | Ramdeo Agarwall | Anil Gaggar |
| Foundation Year | 1987 | 1994 |
| Supported Exchanges | BSE, NSE, MCX | NA |
| Total branches | 305 | Nil |
Motilal Oswal and Progressive Share Trading Account Opening and Demat Charges
A dematerialization account, also known as a Demat account keeps the securities in an electronic form that are deposited with National Securities Depository Limited (NSDL) or Central Depository Services Limited (CDSL).
Account opening fees for various brokers range from 0 to Rs.200, with Motilal Oswal charging Zero and Progressive Share charging Rs.250.
When you open a Demat account, you must pay specific fees such as account maintenance fees, broker commissions, GST, and STT. When you open a Demat account, you must pay specific fees such as account maintenance charges, broker commissions, GST, and STT. So, account maintenance charges (AMC) for the Motilal Oswal Demat account is Free or Rs.300 per Annum and for the Progressive Share Demat account is Rs.250 per Annum. The Trading AMC for Motilal Oswal and Progressive Share is free. And the margin money for both brokers is also zero.
As we know that NSDL and CDSL are the two depositories in India registered by Indian Government which holds various securities in electronic form like stocks, bonds, etc. So, the depository for both Motilal Oswal and Progressive Share is CDSL.
| Account Opening and Demat Charges | Motilal Oswal | Progressive Share |
|---|---|---|
| Trading Account Opening Charges | Zero | Rs.250 |
| Demat AMC (Annual Maintenance Charges) | Free or Rs.300 per Annum | Rs.250 per Annum |
| Trading AMC (Annual Maintenance Charges) | Free | Free |
| Margin Money | Minimum Rs.10,000 | Minimum Rs.5,100 |
| Offline to Online Charges | Yes | Yes |
| Depository | NSDL & CDSL | CDSL & NSDL |
Motilal Oswal and Progressive Share Equity Brokerage Charges
There are more charges that a broker charges for equity transactions.
Equity delivery charges: This means holding the stocks for a certain period of time and selling it when you make a profit. Different brokers charge different rates on Equity Delivery. The Equity Delivery charges for Motilal Oswal is 0.50%, while Progressive Share charges you 0.35%.
Equity Intraday: This means when you buy and sell stocks on the same day. So, the equity intraday brokerage charges for Motilal Oswal is 0.50% and for Progressive Share also, it is 0.04%.
Equity Futures: Equity futures refers to the purchase and sale of shares at a fixed price on a future date. Motilal Oswal charge 0.50% and Progressive Share charge 0.04% for equity futures.
Equity Options: These are contracts that allow an investor to buy or sell equities at a predetermined or strike price, (1 contract=100 shares). For equity options, Motilal Oswal charges Rs.70 per order, and Progressive Share charges Rs.35 per Lot.
| Equity Brokerage Charges | Motilal Oswal | Progressive Share |
|---|---|---|
| Equity Delivery Brokerage | 0.50% | 0.35% |
| Equity Intraday Brokerage | 0.50% | 0.04% |
| Equity Futures Brokerage | 0.50% | 0.04% |
| Equity Options Brokerage | Rs.70 per order | Rs.35 per Lot |
Motilal Oswal and Progressive Share Currency Brokerage Charges
Currency trading is also known as forex trading, which is used to buy and sell currency pairs. Most brokers offer this trading service.
Currency Future: It is also known as Foreign exchange futures. It is a type of contract where buying and selling of currencies is done on a future date at a fixed price. The Currency Futures Brokerage for Motilal Oswal is 0.05% and for Progressive Share is 0.04%.
Currency Options: A currency option, like an equity option, is a contract that allows a buyer the right (but not the responsibility) to purchase or sell a specified currency at a fixed exchange rate on or before a particular date. Motilal Oswal charges Rs.70 per Lot for currency options, whereas Motilal Oswal charges Rs.15 per Lot.
| Currency Brokerage Charges | Motilal Oswal | Progressive Share |
|---|---|---|
| Currency Futures Brokerage | 0.05% | 0.04% |
| Currency Options Brokerage | Rs.70 per Lot | Rs.15 per Lot |
Motilal Oswal and Progressive Share Commodity Brokerage Charges
Commodity Trading: Commodity trading involves the purchase and sale of various commodities such as gold, silver, agriculture, and energy, as well as their derivative products. Motilal Oswal charges 0.05% for commodity trading, while Progressive Share charges 0.04%.
| Commodity Brokerage Charges | Motilal Oswal | Progressive Share |
|---|---|---|
| Commodity Options Brokerage | 0.05% | 0.04% |
Motilal Oswal and Progressive Share Other Charges
Here are some other broker charges that should know about -
Minimum Broker Charges: Motilal Oswal levies a minimum brokerage fee of Percentage of Transaction, while Progressive Share charges Percentage of Transaction brokerage fee.
Transaction Brokerage Charges: Motilal Oswal levies a transaction brokerage charge of 0.00335% of Total Turnover, while Progressive Share charges 0.00299%.
SEBI Turnover Charges: Securities and Exchange Board of India (SEBI) is the market regularly and monitors fair trade practices. They also charge a small fee known as the SEBI Turnover fee. So, the SEBI Turnover charges for Motilal Oswal is 0.0002% of Total Turnover and for Motilal Oswal is 0.0002% of Total Turnover.
Stamp Duty Charges: This fee is charged as per the state and asset class.
GST Charges (Goods and Services Tax): GST of 18% is charged (brokerage and transaction charges)
STT (Securities Transaction Tax): The STT charges for Motilal Oswal are 0.0126% of Total Turnover, while for Progressive Share, they are 0.0126% of Total Turnover.
Call and Trade Charges: This charge varies for different brokers. Motilal Oswal charges Nil and Progressive Share charges NA.
| Other Brokerage Charges | Motilal Oswal | Progressive Share |
|---|---|---|
| Minimum Brokerage Charges | Percentage of Transaction | Percentage of Transaction | Transaction Brokerage Charges | 0.00335% of Total Turnover | 0.00299% | SEBI Turnover Charges | 0.0002% of Total Turnover | 0.0002% of Total Turnover | Stamp Duty Charges | As per the state | As per the state | GST Charges | 18% of (Brokerage + Transaction Charges) | 18% of (Brokerage + Transaction Charges) | STT Charges | 0.0126% of Total Turnover | 0.0126% of Total Turnover | Call and Trade Charges | Nil | NA |
Motilal Oswal and Progressive Share Equity Exposure/Leverage
With the leverage, you can trade for a much higher amount than you actually pay for it. It means to borrow money for buying securities. For example, if you want to buy stocks for Rs. 5,00,000, but have only funds of Rs. 2,00,000. Then, you can get the remaining 3,00,000 Rs. from the broker by paying them some margin amount.
Equity Delivery: Leverage provided for Equity Delivery by Motilal Oswal is up to Upto 15x and by Progressive Share it is up to Upto 3x.
Equity Intraday: Leverage for equity intraday by Motilal Oswal is up to Upto 30x and by Progressive Share it is up to Upto 6x.
Equity Futures: Leverage for Equity Futures by Motilal Oswal is up to Upto 15x and by Progressive Share it is up to Upto 2x.
Equity Options: Leverage for Equity Options by Motilal Oswal is up to Upto 5x and by Progressive Share also, it is up to Upto 5x.
| Equity Leverage | Motilal Oswal | Progressive Share |
|---|---|---|
| Equity Delivery | Upto 15x | Upto 3x | Equity Intraday | Upto 30x | Upto 6x | Equity Futures | Upto 15x | Upto 2x | Equity Options | Upto 5x | Upto 5x |
Motilal Oswal and Progressive Share Currency Leverage
The currency futures leverage provided by Motilal Oswal is up to Upto 15x, while for Progressive Share it is up to Upto 2x.
The currency options leverage provided by Motilal Oswal is up to Upto 12x, while for Progressive Share it is up to Upto 3x.
| Currency Leverage | Motilal Oswal | Progressive Share |
|---|---|---|
| Currency Futures | Upto 15x | Upto 2x | Currency Options | Upto 12x | Upto 3x |
Motilal Oswal and Progressive Share Commodity Leverage
The commodity leverage provided by Motilal Oswal is up to Upto 15x, while for Progressive Share it is up to Upto 2x.
| Commodity Leverage | Motilal Oswal | Progressive Share |
|---|---|---|
| Commodity | Upto 15x | Upto 2x |
Motilal Oswal and Progressive Share Offers
Brokers offer various exciting offers to entice new customers. Here are some of them:
Free Stock Trading and Demat Accounts: many brokers offer new investors to open an account free to cost and start trading straight away with them.
Flexible Plans: attractive plans at an economical price such as ProStocks monthly plan targeting equity cash and currency F&O at Rs.899 and Rs.499, respectively.
Brokerage Discounts: Coupons providing up to 50% discount at their rates.
Happy Hours: A specific time slot where the trades/customers get broker's services at a discount.
1-month Free Plan: where brokers provide free delivery trading such as OneTradePlus.
Holiday Offers: brokers are providing their services at a discounted rate on special events such as Diwali.
Referral Program: brokers provide a discount when your family or friends sign up with the broker using your referral code.
Zero Brokerage on Loss Trade: complete refund of money on unsuccessful trades.
| Offers | Motilal Oswal | Progressive Share |
|---|---|---|
| Free Stock Trading Account | Yes | Yes | Free Demat Account | Yes | No | Flexible Plans | Yes | Yes | Brokerage Discounts | Yes | Yes | Happy Hours | No | No | 1 Month Free Plan | Yes | Yes | Holiday Offers | No | No | Referral Program | Yes | No | Zero Brokerage on Loss Trades | No | No |
Motilal Oswal and Progressive Share Features
Equity Trading: Motilal Oswal and Progressive Share brokers are among the top brokers in India. They provide you with various trading options like Equity Delivery, Equity Intraday and Equity Futures and Options trading.
Currency and Commodity Trading: Motilal Oswal and Progressive Share also offer you to trade in currency and commodities.
Initial Public Offering (IPOs): One of the greatest advantages of Motilal Oswal and Progressive Share broker is that you can also invest in IPOs. Motilal Oswal also has an added advantage that they provide you with robo-advisory services as well.
Trading Exposure: Different brokers provide different trading exposures. Motilal Oswal offers trading exposure of up to Upto 30x, while Progressive Share gives up to Upto 6x.
Mutual Funds: Investing in mutual funds is a great option to grow your wealth and many brokers offer the option to invest on that. With Motilal Oswal and Progressive Share, you can invest in mutual funds through SIP and Lumpsum.
Forex Trading: With Forex Trading, you can trade in various international currencies. Motilal Oswal and Progressive Share also allow you to trade in forex trading.
| Features | Motilal Oswal | Progressive Share |
|---|---|---|
| Equity Delivery Trading | Yes | Yes | Equity Intraday Trading | Yes | Yes | Equity Futures Trading | Yes | Yes | Equity Options Trading | Yes | Yes | Currency Trading | Yes | Yes |
| Commodity Trading | Yes | Yes | IPO (Initial public offering) | Yes | Yes | Stocks Suggestions | No | No | Robo Advisory | No | No | PMS (Portfolio Management Services) | Yes | No |
| Trading Institution | No | No | Trading Exposure | Upto 30x | Upto 6x | Mutual Funds | Yes | Yes | SIP (Systematic Investment Plan) | Yes | Yes | Forex Trading | No | No | Banking | No | No | Insurance | No | No |
Motilal Oswal and Progressive Share Advisory Services
Discount brokers and full-service brokers offer different services. Here are some of the top advisory services offered by brokers-
Fundamental Reports: These are the reports that analyse a company's financial statements and help investors and financial analysts make decisions about a company's present financial status.
Research Reports: Many broker companies have in-house research teams which are experienced and help people to give research reports on various securities like stocks, currency, mutual funds, etc. Motilal Oswal and Progressive Share offer you in-depth research reports.
Company Reports: These are detailed and easy-to-understand reports on the company's measures throughout the year, month, or week.
Relationship Manager: Full-service broker gives a dedicated relationship manager, who will clear all your trading queries and help you throughout your trading journey.
Other Services: Many brokers provide more services depending upon the brokerage price like Company Stock Reviews, Free Stock Tips, IPO Reports, Top Picks, Daily Market Reviews, Monthly Reports, Weekly Reports and Offline Advisory.
| Advisory Services | Motilal Oswal | Progressive Share |
|---|---|---|
| Fundamental Reports | Yes | No |
| Research Reports | Yes | Yes |
| Company Reports | Yes | No |
| Annual Reports | Yes | No |
| Company Stock Review | Yes | No |
| Free Stock Tips | No | Yes |
| IPO Reports | Yes | Yes |
| Top Picks | Yes | Yes |
| Daily Market Review | Yes | Yes |
| Monthly Reports | Yes | Yes |
| Weekly reports | Yes | Yes |
| Offline Advisory | Yes | Yes |
| Relationship Manager | Yes | Yes |
Motilal Oswal and Progressive Share Desktop Trading Platforms
A trader can utilise multiple trading platforms to trade in stocks, commodities, etc. A good and advanced trading platform can make your trading easier and result in profit maximization. Motilal Oswal and Progressive Share offer a Desktop Trading Platform with advanced tools, interactive charts, and quick buying and selling of securities. Their trading platforms can be used in Windows, Mac and Desktop browsers as well.
| Desktop Trading Platforms | Motilal Oswal | Progressive Share |
|---|---|---|
| Windows | Yes | Yes |
| Mac | Yes | Yes |
| Desktop Browser | Yes | Yes |
Motilal Oswal and Progressive Share Mobile Trading Platforms
Motilal Oswal and Progressive Share offer you mobile trading platforms which can be used in iOS and Android applications.
| Mobile Trading Platforms | Motilal Oswal | Progressive Share |
|---|---|---|
| Mobile Browser | Yes | Yes |
| Android App | Yes | Yes |
| iOS App | Yes | Yes |
| Windows App | No | No |
| Other mobile os | No | No |
Motilal Oswal and Progressive Share Customer Support
Customer service is a critical aspect in converting a new customer into a loyal and long-term customer. Because the trading market moves quickly, an investor requires appropriate customer assistance from their brokers. Motilal Oswal and Progressive Share give good customer support and service to their clients. They help you in online trading through chat support, e-mail support and call support.
| Customer Support Features | Motilal Oswal | Progressive Share |
|---|---|---|
| Relationship Manager | Yes | Yes |
| Offline Trading | Yes | Yes |
| Online Trading | Yes | Yes |
| 24 * 7 Support | Yes | No |
| Email Support | Yes | Yes |
| Chat Support | No | No |
| Toll free number | No | No |
| Support Branches | 85 | 20 |
Motilal Oswal and Progressive Share Customer Complaints
The BSE and NSE actively accept and handle complaints to maintain a stringent check and balance on fair-trade opportunities. Investors can file complaints about brokers or companies in case of any unfair trade practices. BSE and NSE make sure to resolve your complaints within a certain time. Check out the table below for Motilal Oswal and Progressive Share registered and resolved complaints.
For Motilal Oswal, the Percentage of resolved BSE complaints is 92.70 % and the Percentage of resolved NSE complaints is 89.66 %.
For Progressive Share, the Percentage of resolved BSE complaints is NaN % and the Percentage of resolved NSE complaints is 100.00 %.
We can say that Motilal Oswal is better than Progressive Share in case of resolving customer complaints.
| BSE Complaints | Motilal Oswal | Progressive Share |
|---|---|---|
| BSE Complaints | 178 | 0 |
| BSE Resolved Complaints | 165 | 0 |
| Percentage of resolved BSE complaints | 92.70 % | NaN % |
| NSE Complaints | 145 | 1 |
| NSE Resolved Complaints | 130 | 1 |
| Percentage of resolved NSE complaints | 89.66 % | 100.00 % |
| BSE/NSE Complaint vs. Resolved Percentage | 91.18 % | NaN % |
Frequently Asked Questions
Is Motilal Oswal better than Progressive Share?
Motilal Oswal and Progressive Share are at the top among the best full service brokers. You need to look for brokerage charges, account opening fees, trading platforms, etc. to determine which one is better.
Is Progressive Share better than Motilal Oswal?
Progressive Share and Motilal Oswal are at the top among the best full service brokers. As a result, we must examine features such as brokerage costs, account opening fees, trading platforms, and more to determine which of them is a better stockbroker.
Which is cheaper between Motilal Oswal and Progressive Share?
Motilal Oswal and operate as full-service brokers, generally resulting in higher brokerage charges compared to discount brokers. In general, the brokerage fees for both of them will be relatively similar. Examine the brokerage fees in-depth to determine the less expensive broker for your requirements.
Which is better, Motilal Oswal and Progressive Share?
To figure out which of the two stockbrokers, Motilal Oswal and Progressive Share, is better, compare their brokerage charges, trading platforms, other expenses, research, account opening charges, and so on.
Compare Motilal Oswal with other stock brokers
Visit the following pages to see a detailed comparision report of Motilal Oswal with other brokerage firms.
Compare Progressive Share with other stock brokers
Visit the following pages to see a detailed comparision report of Progressive Share with other brokerage firms.