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Motilal Oswal Stock Trading, Demat, Brokerage and Reviews

Motilal Oswal Securities Ltd Logo

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Incorporated in 1987, Motilal Oswal Securities Ltd is a well diversified financial services firm offering a range of financial products and services such as Wealth Management, Broking & Distribution, Commodity Broking, Portfolio Management Services, Institutional Equities, Private Equity, Investment Banking Services and Principal Strategies.

Company have a diversified client base that includes retail customers (including High Net worth Individuals), mutual funds, foreign institutional investors, financial institutions and corporate clients. They are headquartered in Mumbai.

Motilal Oswal highlights:

  1. One of the largest broker in terms of customers. Over 7.5 lakh customers.(As of Oct 2015)
  2. Huge network - 1743 outlets across India.
  3. Presence in 520 cities across India.

Motilal Oswal Stock Broker Review Ratings

41 votes  Rate Motilal Oswal

Area Rating
Overall Rating Rated 3.3 stars 3.3/5
Fees Rated 3.3 stars 3.3/5
Brokerage Rated 2.9 stars 2.9/5
Usability Rated 3.5 stars 3.5/5
Customer Service Rated 3.3 stars 3.3/5

Motilal Oswal's Trading Platforms

1. Web Platform

Web Platform is suited for first time investors who want a clean and simple interface. Investor can trade from any internet connected PC and place the order with instant confirmation.

2. Desktop Platform

Desktop Platform is suitable for those investors and traders who want live market watch and faster execution.

3. Mobile Platform

Mobile platform works on most GPRS enabled mobile phones. Investor can directly buy/sell from market watch. It also provides the facility to modify or cancel the pending orders.

4. Call N Trade

Call N Trade Platform is suitable when investor don't have online access to their trading site. All Motilal Oswal customers enjoy Call N Trade services at no additional cost.

Account Types

1. Value Pac:

Value Pac is the upfront subscription scheme, which gives significant discounts in brokerage rates with defined time period to use it. With the wide range of Value Pacs, based on the Volume of Trade and the Validity period one can enjoy the benefits of placing trades at reduced charges.

2. Margin account:

Margin account is suitable for those who don't want to commit to a Value Pac (upfront subscription). In Margin Account investor have to give defined upfront margin amount at the time of opening the account.

Motilal Oswal Brokerage Charges 2015

Account Opening Fees & Annual maintenance charges (AMC)

  • Trading Account Opening Charges (One Time): Rs 0
  • Trading Annual maintenance charges (AMC): -
  • Demat Account Opening Charges (One Time): -
  • Demat Account Annual Maintenance Charges (AMC): Rs 441

Trading Brokerages:

For Value Pac (Value 2,500)

  • Intra-day Trades: 0.080%
  • Delivery Based Trades: 0.40%
  • F&O Trades: 0.090%
  • Options Trades: Rs 100 per contract

For Margin Scheme (Margin 10,000)

  • Intra-day Trades: 0.10%
  • Delivery Based Trades: 0.50%
  • F&O Trades: 0.10%
  • Options Trades: Rs 100 per contract

How to open account with Motilal Oswal Securities Ltd?

Process to open an online trading account with Motilal Oswal

  • To open an online trading account with Motilal Oswal, Investor has to fill up the application form online, make an online payment as per the scheme details and submit the form electronically.
  • Once the investor have submitted the online application form, one of the representative from Motilal Oswal will contact the investor and get the signatures on the application form submitted by investor and collect all the documents/proofs.
  • Once they have verified the application form and supportive documentation, they will activate the account. This will normally happen within 3-5 working days.
  • After the activation of the account, PIN mailers containing the password will be sent on correspondence address.

List of documents required to open an acount

  1. Proof of Identity - Copy of PAN Card
  2. Proof of Address - Copy of any one of the following (Self Attested)
    • Passport
    • Ration card
    • Voter's ID
    • Driving license
    • Electricity bill (not more than 2 months old)
    • Landline Telephone Bill (not more than 2 months old)
    • Bank Pass Book
  3. Bank Proof - Copy of Bank Pass Book or Personalized Cheque leaf (For Existing Bank Account Holders Only)
  4. 3 Photographs

Contact Motilal Oswal / Request Call Back

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Motilal Oswal Advantages

  1. Wide Range of Investment Choices- Equity, Derivatives, IPOs Or Mutual Funds.
  2. Discounted Brokerage Schemes that offers true value for money.
  3. Complete Ease of Operation with more than 39 banks for Fund Transfer.

Motilal Oswal Complaints received at BSE / NSE:

Number of customer complaints lodged against share broker Motilal Oswal:

Exchange Financial Year Number of Clients * Total Complaints **
BSE 2015-16 79,547 2
NSE 2015-16 156,487 53
BSE 2014-15 62,867 46
NSE 2014-15 152,608 127
BSE 2013-14 663,408 42
NSE 2013-14 123,022 120
BSE 2012-13 642,403 50
NSE 2012-13 621,966 119
BSE 2011-12 595,786 80
NSE 2011-12 592,459 134

* Number of active clients the broker or trading member has. As per SEBI guidelines each broker reports the newly added clients to the exchange though unique client code (ucc) process. The informaiton on this page is provided by the exchange.

** The total number of complaint received against the broker at the given exchange.

Broker complaints in India - Year wise complaints received by exchange

Useful links about Motilal Oswal

  1. Website:
  2. Corporate Office: 3rd Floor, Hoechst House,
    Nariman Point, Mumbai - 400021

Enquiry Form

Motilal Oswal Securities Ltd Reviews

211. deepak jadhav  Aug 11, 2015 4:52:00 PM IST Reply


Brokerage - Above Average
Account Maintenance Fees - Above Average
Website Usability - Excellent
Customer Service - Excellent
Overall Experience - Above Average
210. s d ghosalkar  Jun 12, 2015 12:39:09 PM IST Reply
do not open your trading a/c with motilal oswal as they are careless and their research team is worst. they make promises and do not fulfil them.. i m having 8 a/cs with them invested Rs.4.50 lacs and now within 6 months the balance is hardly Rs.3000.00 their dealers only for incentive purpose they will make you promises even when the balance is going in negative side there is aggresive trade from the dealers ..hopeless brokers. not fit to be in market they are looting their clientele as wellas their dealers are advising to close a/cs in motilal oswal and to open a/c with other brokers where they are sub brokers..
209. akshay khake  May 5, 2015 1:15:19 AM IST Reply
motilal oswal agents said to me invest minimum 10000 rupees first time...
208. anirudh thattey  Mar 18, 2015 8:46:14 AM IST Reply
I am holding an account with motilal oswal . Actually the brokerage on paper is very attractive but when you trade it is pinching in many cases it comes to even INR 5 % to 25 % of traded value . when you complain about it they will show some 1980 - 1990 rule to justify


Brokerage - Very Poor
Account Maintenance Fees - Above Average
Website Usability - Very Poor
Customer Service - Very Poor
Overall Experience - Below Average
207. Kalpana Kucheria  Sep 9, 2014 11:45:17 AM IST Reply

My username is E621165 and name is Kalpana Kucheria.

About a month ago I submitted my account closure documents at the T Nagar Branch, Chennai along with my CMR. I received a call after 2 weeks saying that the closure was not possible as there was a credit balance of 651 in my ledger and 500 in my margin. I transferred the ledger balance myself and when I contacted the customer care on 91-22-39982515, they told me to get in contact with a person called C Jayakumar from the T Nagar branch. I called him up and he assured me that the transfer of margin balance would get completed at the end of that day. Its been 10 days today and C Jayakumar is still telling me that the transfer will take some more time. All I want you to do is transfer my margin credit balance to my Bank account and close my MO acc forever. Why can''t you do that for me? And this C Jayakumar has stopped answering my calls since the last 3 days. I called him from a different number and he picked it up immediately.

I want you to immediately process my account closure and ensure that my shares get transferred to my new broker IL&FS before Friday.

What sort of a pathetic stock broker are you?

206. Arunachalanadar ganesan  Sep 6, 2014 1:59:23 PM IST Reply
Even IIFL has also changed brokerage pattern, now they are charging minimum Rs 25/- per scrip
205. Aman  Aug 17, 2014 2:09:48 AM IST Reply
There is recent change in the brokerage charges of Motilal Oswal. Now they are charging atleast Rs 20 on delivery for every trade. This recent surge in brokerage charges is not competitive in the market.
204. anand  Mar 19, 2014 8:14:41 AM IST Reply
motilal oswal is the worst service in my life, customer service is very very bad no response many times i am calling not attend the call,and no following,and rate is very poor
203. hitesh patel  Feb 16, 2014 12:56:07 PM IST Reply
open account in 23 december 2014 with free of cost advanced chart facilities,but after 15 days they stop chart facility and say that you have to pay for this facilities....very poor copmliance..n service
202. kumar  Jan 9, 2014 7:55:30 PM IST Reply
Today i submitted d papers fot account opening feeling bad when there branch mgr gururaj asked me to give all details of my holdings of sharekhan&other account.i gave them xheq of25k was knowing hv enough balance to pay it..wl anyone show how much welth u r hving or not hving thats personel&thretning too. wd them.bad .getting demotivated to open account&do further transaction.
201. khalid  Dec 31, 2013 9:22:16 AM IST Reply
motilal oswal worst broker in india is my exper....
200. Santosh  Dec 18, 2013 8:24:48 PM IST Reply
I am closing my Account with MOSL due to brokerage others Can imagin why, i can not explain each and every thing)
199. RAJENDRA PASCAL  Dec 10, 2013 8:48:43 PM IST Reply
Dear Sir/ Madam,
I am having a demat account no. KSJ 12145 with Motilal Oswal.
Please provide me login id and pass word to operate the same account.
Thank you.
199.1. RAJENDRA PASCAL  Jan 16, 2014 7:18:49 PM IST
198. gaurav sharma  Oct 20, 2013 10:34:38 PM IST Reply
i have allredy a/c but i am motilal oswal online a/c plz help me
197. Sherbaz Mohamed  Jul 15, 2013 9:00:40 AM IST Reply
The MOSL agent agreed for .2 and .02 brokerages to make me register. Once after I registered and started trading, it came to my notice that, I was charged with .5 and .05 brokerage. tried contacting customer service with no success. Even the MOSL agent didnt help. Never go for MOSL. Its a trap.
196. Narasimha Raju  Mar 19, 2013 11:38:38 PM IST Reply
One of the worst websites , very bad user experience website
No direct fund transfer from reputed banks. They inefficient ways
Acct Maintenance is highly charged to the customer.
Brokerage is high for cash market, its useless there , better choose any other broker.
if you are high volume trader with small profit margin, you profits will be eaten by the this broker. Not at all recommanded to trading with this broker, No proper recomendations /advises from broker on daily basis.
Overall very bad one.

Rated 'Very Poor' in all category.
195. EKTA JAISWAL  Mar 19, 2013 10:22:09 PM IST Reply
Your company is associated with Master Trust Financial Services. This is worst company in India. They are thug and always plans to rob money of the client. They charge so many hidden charges from the client. they even do not write service tax code no on their contract notes doing evasion of service tax of central govt.
194. JAYESH SHAH  Nov 28, 2012 8:21:30 AM IST Reply
Good Keep it up !!!..Need to work out for brokerage charges..Make it as lowest possible. will help to increse turnover.


Brokerage - Average
Account Maintenance Fees - Above Average
Website Usability - Above Average
Customer Service - Average
Overall Experience - Above Average
194.1. Sherbaz Mohamed  Jul 15, 2013 9:05:06 AM IST
I had a very bad experience with Motilal. Are you working for MOSL to give this rating. Or have you ever tried any other dmat accounts?

The MOSL agent agreed for .2 and .02 brokerages to make me register. Once after I registered and started trading, it came to my notice that, I was charged with .5 and .05 brokerage. tried contacting customer service with no success. Even the MOSL agent didnt help. Never go for MOSL. Its a trap.
193. SAHANA.S  Nov 9, 2012 10:22:08 AM IST Reply
i have opened the account in motilal oswal securities limited, if i have introduce some person in motilal oswal, have i any benefit in my side, have any benefit please send the message in my mail id
192. R.RAMAKRISHN AN  Jul 14, 2012 1:31:03 PM IST Reply
have you ever compared the brokerage structure of brokerage house. you will be amazed. while all other brokerage houses charges say xx % or Rs.XX WHICHEVER IS HIGER. whereas
in brokerage firm the brokerage structure is the opposite. Irrespective of the segment i.e. NSE/BSE share/commodities futures/ forex futures,and irrespective of the number of shares/lot size, your brokerage is fixed - Rs.20 on the buy leg and Rs.20 on the sell leg that is all! + the usual statutory levies - SERVIC E TAX, STT, TURNOVER CHARGES, STAMPDUTY which is common for all brokerage houses. Try and see for your self the difference.

They have provided a breakeven calculator on their website in the link called PRICING which is really a wonderful tool for traders to decide the return on investment beforehand to offload a position and profit from it. go to their site and see how your broker has so far looted you.

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