Reviews of Stock Brokers


Motilal Oswal

When it comes to investing in the stock market, choosing the right stockbroker is of utmost importance. It can significantly impact your trading experience, investment returns, and overall satisfaction. In this article, we will provide an in-depth review of Motilal Oswal, one of India's prominent Full Service Broker. We will evaluate various aspects, including brokerage charges, trading platforms, customer support, and more, to help you make an informed decision.


Overview

Motilal Oswal founded in 1987 by Ramdeo Agarwall is a Public company headquartered in Mumbai, India India. As a Full Service Broker, Motilal Oswal aims to provide cost-effective buy/sell orders, enabling investors to save money compared to Discount Broker. However, it is crucial to note that Motilal Oswal operates as a Discount Broker. It offers extensive investment advice and detailed stock analysis for its clients.

OverviewMotilal Oswal
Broker TypeFull Service Broker
Type of companyPublic
HeadquarterMumbai, India
FoundersRamdeo Agarwall
Foundation Year1987
Supported ExchangesBSE, NSE, MCX
Total branches305

Motilal Oswal Account opening charges

To begin trading with Motilal Oswal, you need to open a trading account and a Demat account. Motilal Oswal charges Zero for opening a trading account. Additionally, there is an annual maintenance charge (AMC) of Free or Rs.300 per Annum for the Demat account. However, it's worth mentioning that trading AMC is free.

Account Opening and Demat ChargesMotilal Oswal
Trading Account Opening ChargesZero
Demat AMC (Annual Maintenance Charges)Free or Rs.300 per Annum
Trading AMC (Annual Maintenance Charges)Free
Margin MoneyMinimum Rs.10,000
Offline to Online ChargesYes
DepositoryNSDL & CDSL

Motilal Oswal Brokerage Charges

One of the main factors to consider when choosing a stockbroker is the brokerage charges. Motilal Oswal brokerage charges for various segments are as follows:

Equity Brokerage Charges

Equity Brokerage ChargesMotilal Oswal
Equity Delivery Brokerage0.50%
Equity Intraday Brokerage0.50%
Equity Futures Brokerage0.50%
Equity Options BrokerageRs.70 per order

Currency Brokerage Charges

Currency Brokerage ChargesMotilal Oswal
Currency Futures Brokerage0.05%
Currency Options BrokerageRs.70 per Lot

Commodity Brokerage Charges

Commodity Brokerage ChargesMotilal Oswal
Commodity Options Brokerage0.05%

Motilal Oswal Other Charges

In addition to brokerage charges, there are other charges to consider:

Other Brokerage ChargesMotilal Oswal
Minimum Brokerage ChargesPercentage of Transaction
Transaction Brokerage Charges0.00335% of Total Turnover
SEBI Turnover Charges0.0002% of Total Turnover
Stamp Duty ChargesAs per the state
GST Charges18% of (Brokerage + Transaction Charges)
STT Charges0.0126% of Total Turnover
Call and Trade ChargesNil

Motilal Oswal Equity Leverage

Leverage enables traders to amplify their market exposure using a relatively smaller capital amount. Here's the leverage provided by Motilal Oswal:

Equity LeverageMotilal Oswal
Equity DeliveryUpto 15x
Equity IntradayUpto 30x
Equity FuturesUpto 15x
Equity OptionsUpto 5x

Motilal Oswal Currency Leverage

Currency LeverageMotilal Oswal
Currency FuturesUpto 15x
Currency OptionsUpto 12x

Motilal Oswal Commodity Leverage

Equity LeverageMotilal Oswal
CommodityUpto 15x

Motilal Oswal Offers

Numerous stockbrokers are enticing customers with attractive offers in order to expand their client base. Some of these enticing offers include:

OffersMotilal Oswal
Free Stock Trading AccountYes
Free Demat AccountYes
Flexible PlansYes
Brokerage DiscountsYes
Happy HoursNo
1 Month Free PlanYes
Holiday OffersNo
Referral ProgramYes
Zero Brokerage on Loss TradesNo

Motilal Oswal Features

FeaturesMotilal Oswal
Equity Delivery TradingYes
Equity Intraday TradingYes
Equity Futures TradingYes
Equity Options TradingYes
Currency TradingYes
Commodity TradingYes
IPO (Initial public offering)Yes
Stocks SuggestionsNo
Robo AdvisoryNo
PMS (Portfolio Management Services)Yes
Trading InstitutionNo
Trading ExposureUpto 30x
Mutual FundsYes
SIP (Systematic Investment Plan)Yes
Forex TradingNo
BankingNo
InsuranceNo

Motilal Oswal Advisory Services

The key distinction between a discount broker and a full-service broker lies in the range of services offered and the rates at which they are provided.

ServicesMotilal Oswal
Fundamental ReportsYes
Research ReportsYes
Company ReportsYes
Annual ReportsYes
Company Stock ReviewYes
Free Stock TipsNo
IPO ReportsYes
Top PicksYes
Daily Market ReviewYes
Monthly ReportsYes
Weekly reportsYes
Offline AdvisoryYes
Relationship ManagerYes

Motilal Oswal Trading Platforms

The Motilal Oswal trading software comprises various trading platforms suitable for the diverse needs of the customers. It is built on IIFL's trading platform. It has been trusted by customers for the past two decades. The trading platform is available in three different forms. Namely: a mobile app, a web browser-based platform, and an installable desktop trading application.


Motilal Oswal Trading Platforms

Desktop Trading PlatformsMotilal Oswal
WindowsYes
MacYes
Desktop BrowserYes

Motilal Oswal Mobile App

The Motilal Oswal mobile app allows users to trade on the go and provides access to trading at BSE/NSE and robo advisory services. Customers can download the app for free from either the google app store or the apple app Store. The app is designed to be simple and intuitive, enabling users to buy stocks, trade in stock and currency futures & options, and invest in mutual funds, ETFs, bonds, and more.

Mobile AppMotilal Oswal
Mobile BrowserYes
Android AppYes
iOS AppYes
Windows AppNo
Other mobile osNo

Motilal Oswal Web Trading

For web-based trading, Motilal Oswal offers a powerful trading website known as Motilal Oswal trader station. This website can be accessed through any web browser on computers, laptops, mobile devices, or tablets. It provides a wide range of trading and investment options within a single domain. The web platform is seamlessly integrated with payment gateways and banks, enabling instant fund transfers.


Motilal Oswal Trade Terminal

Motilal Oswal offers a trade terminal, which is a downloadable trading terminal specifically developed for active traders seeking advanced trading features. This desktop application offers real-time data and advanced charts for monitoring intraday and historic stock prices. It also offers a variety of keyboard shortcuts to facilitate real-time market monitoring and faster order placement.


Motilal Oswal Customer Support

Customer SupportMotilal Oswal
Relationship ManagerYes
Offline TradingYes
Online TradingYes
24 * 7 SupportYes
Email SupportYes
Chat SupportNo
Toll free numberNo
Support Branches85

Motilal Oswal Complaints

Understanding the number of customer complaints received by a brokerage firm can provide insights into the quality and reliability of their services. The following table shows the information regarding the complaints received by Motilal Oswal.

BSE ComplaintsMotilal Oswal
BSE Complaints178
BSE Resolved Complaints165
Percentage of resolved BSE complaints92.70 %
NSE Complaints145
NSE Resolved Complaints130
Percentage of resolved NSE complaints89.66 %
BSE/NSE Complaint vs. Resolved Percentage91.18 %

Conclusion

In conclusion, Motilal Oswal offers a range of trading and investment options through its user-friendly platforms. With competitive pricing and several investment choices, it is one of the best options for investors. However, the lack of comprehensive customer support and the number of customer complaints are areas of concern. Considering all the features and user experience, Motilal Oswal can be considered a decent stock broker, but you must examine the pros and cons carefully before making a decision.