
Flat Brokerage Rs 20/lot + Free Account Opening + Free Intraday Trades + Free Research + Free Demat AMC 1st year.
Motilal Oswal is a legacy full-service broker with 10,08,049 active clients (2025), 35+ years of industry experience, and a strong research focus.
Motilal Oswal offers a wide range of investment products, free research & advisory, and a nationwide branch presence. With lifetime free intraday trading and award-winning research, it stands as a top choice for traditional and modern investors alike.
Why Motilal Oswal in 2025?
Motilal Oswal is the only full-service broker to offer free intraday trading for life, along with free research, PMS, Smallcases, and a strong digital + branch presence.
Motilal Oswal is the only full-service broker to offer free intraday trading for life, along with free research, PMS, Smallcases, and a strong digital + branch presence.
Motilal Oswal Charges & Brokerage (2025)
Account Type | Fee |
---|---|
Trading Account Opening | Rs 0 (Free) |
Demat Account Opening | Rs 0 (Free) |
AMC | Rs 0 (1st yr), Rs 240/year (after) |
Account Admin Charges | Rs 199 |
Segment | Brokerage |
---|---|
Equity Delivery | 0.20% |
Equity Intraday | Lifetime Free |
Equity Futures | 0.02% |
Equity Options | Rs 20 per lot |
Commodity Futures | 0.02% |
Commodity Options | Rs 200 per lot |
Currency Futures | Rs 20 per lot |
Currency Options | Rs 20 per lot |
Hidden Charges: Standard taxes (STT, GST, SEBI, stamp duty) apply. Margin funding and call/trade may incur extra charges.
Motilal Oswal Trading Platforms
- MO Investor App: For investors – stocks, mutual funds, IPOs, insurance, and more. Rating: 4.2/5 (Google Play, 1M+ downloads)
- MO Trader App: For traders – advanced analytics, F&O, charts.
- Desktop/Web: High-speed terminal & secure web trading.
- PMS/Smallcase/Smart Baskets: Curated portfolios for all investor types.

Motilal Oswal: Pros & Cons
Advantages
- 35+ years of experience & strong research
- Lifetime free intraday trading
- Wide investment options (stocks, F&O, IPO, MFs, insurance, PMS, Smallcase)
- Free research, daily advisory, personal RM
- Branch support across India
Limitations
- High delivery brokerage vs. discount brokers
- No 3-in-1 account
- Some legacy UI in desktop/web platforms
- Occasional cross-selling by RMs
- Account closure is offline
Motilal Oswal Margin & Leverage
Segment | Margin Requirement | Max Leverage |
---|---|---|
Equity Delivery | 100% of trade value (T+5 days) | 1x |
Equity Intraday | Up to 20% of trade value | 5x |
F&O (All) | 100% NRML margin | 1x |
Motilal Oswal Ratings
Average rating: 2.2/5 (148+ customer reviews)
Service Quality & Complaints
Motilal Oswal maintains a transparent complaint record, with most issues resolved rapidly for their large client base.
Exchange | Year | Clients | Complaints | Ratio (%) |
---|---|---|---|---|
NSE | 2025-26 | 10,08,049 | 70 | 0.0069% |
BSE | 2024-25 | 6,13,313 | 25 | 0.0041% |
NSE | 2024-25 | 10,14,875 | 1078 | 0.11% |
BSE | 2023-24 | 4,85,252 | 99 | 0.02% |
NSE | 2023-24 | 8,93,218 | 498 | 0.05% |
Frequently Asked Questions
Is Motilal Oswal safe?
Yes, Motilal Oswal is SEBI-registered and a member of NSE, BSE, MCX, CDSL, NSDL. Funds and shares are held in your name.
What are Motilal Oswal brokerage charges?
Equity delivery: 0.20%, Intraday: Free, F&O: 0.02%/Rs 20 per lot. See tables above for segment-wise details.
Is the Motilal Oswal mobile app good?
Yes, the MO Investor App is rated 4.2/5 with advanced features for all investors.
Can you apply for IPO through Motilal Oswal?
Yes, IPO application is digital and available through the app/web.
How to contact Motilal Oswal support?
Support available via branch, phone, and online ticket. Visit motilaloswal.com for details.
How to close Motilal Oswal account?
Offline closure only. Download, fill, and send the closure form to their branch/head office.