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Motilal Oswal Complaints

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Incorporated in 1987, Motilal Oswal Securities Ltd. (MOSL) is a Mumbai, India based diversified financial services firm. The company offers trading services in Equity, Commodity, Currency and Derivatives. It also offers other products like Mutual Funds, IPOs, Gold, Insurance and Fixed Income products. MOSL is widely recognized for its MOAMC discretionary Portfolio Management Service (PMS). The PMS has a strong track record and consistently outperformed the benchmark across market cycles since it... Know more about Motilal Oswal

Complaint against Motilal Oswal Broker

Motilal Oswal brokerage complaints report provide detail about the number of complaints received by the stock exchanges from the Motilal Oswal customers. The Motilal Oswal complaints report analyzes the Motilal Oswal online complaint data provided by BSE and NSE. This report shows the health of the broker.

These complaints are serious grievances against Motilal Oswal broker which the broker and customer failed to resolve. The customer then filed these legal complaints with the stock exchange.

The Motilal Oswal complaint no. report also provides Motilal Oswal’s number of active clients. This shows the growth of the broker year on year.

Motilal Oswal Complaints

Exchange Financial Year Total Complaints Active Clients
BSE 2021-22 39 270,382
NSE 2021-22 336 788,629
BSE 2020-21 12 108,657
NSE 2020-21 491 564,034
BSE 2019-20 60 107,202
NSE 2019-20 332 377,123
BSE 2018-19 30 93,959
NSE 2018-19 187 322,121
BSE 2017-18 50 137,652
NSE 2017-18 160 307,647
BSE 2016-17 23 83,617
NSE 2016-17 119 207,194
BSE 2015-16 29 79,547
NSE 2015-16 116 165,844
BSE 2014-15 46 62,867
NSE 2014-15 127 152,608
BSE 2013-14 42 663,408
NSE 2013-14 120 123,022
BSE 2012-13 50 642,403
NSE 2012-13 119 621,966
BSE 2011-12 80 595,786
NSE 2011-12 134 592,459

Motilal Oswal complaint at NSE

Active Clients788629564034377123
Resolved through the exchange272435295
Non actionable20255
Advised / Opted for arbitration5211
Pending for redressal with exchange392921
No. of arbitration filed by clients111722
Decided by arbitrators in favour of the clients9920
Decided by the arbitrators545
Pending for redressal with arbitrators282

Motilal Oswal complaint at BSE

Active Clients270382108657107202
Resolved through the exchange381160
Non actionable503
Advised / Opted for arbitration208
Pending for redressal with exchange110
No. of arbitration filed by clients101
Decided by arbitrators in favour of the clients001
Decided by the arbitrators000
Pending for redressal with arbitrators100


  • * Including against its sub brokers, authorised persons, employees, etc.
  • ** Non actionable means the complaint that are incomplete / outside the scope of the Stock Exchange

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This is a limited time offer. Simply leave your contact information with us and Motilal Oswal representatives will contact you.


51. Shivali  Dec 21, 2021 5:28:37 PM I Like It. | Report Abuse Reply
Motilal Oswal is worst broker/ traders platform. The advisors shall push you to the ages to invest and then ghost you after losing your money. Till you have ledger balance or margin or pledge margin they will try and test their assumption and shall never contact you once you have lost everything on their suggestion using the fact that you had said CONFIRM on their suggestion.
The brokerage rate is high like hell. I made a profit of 34,500/ and my brokerage cost was more than 39,000/. so at the end of the day i was suffering the loss of more than 5000/-.

Their TGS Program is NON REFUNDABLE they will never tell you the same before deducting the amount from ledger. After that the head will bluntly refuse to refund. Be Aware.

Stick to your decision do not listen to advisors they work for volume transaction only without any experience. They are just worried abt the volume of transaction irrespective of their multiple insists and request just do not listen to them .... your confirmation ( just one word 'confirm') your loss is the simple rule.
50. Prikesh Piyush Joshi  Jul 30, 2021 5:15:51 PM I Like It. | Report Abuse Reply

I have seen quite a few issues in services provided by MO.

1. Cost per lot charged to me is rs 200 (buying and selling).

I have asked for reduction of the same as there are brokers who charge about 20 to 40% of what you are charging. I am paying almost 1000 to 1600 per day for brokerage.My advisor was ready to reduce it a week ago but still I am charged same. Not sure why?

2. I have raised a complaint 2 weeks ago regarding terminal issue but still there is no response from my advisor Prathamesh or IT desk of Motilal Oswal.

Such negligence has costed me few thousands.
49. Vinay N Nadiger  Jun 26, 2021 2:05:51 PM I Like It. | Report Abuse Reply
Sir I am loosing money because of your advice.please dont give any advice if you are not confident.commodities and nifty dont fool your clients. thank you
48. Vinay  Jun 25, 2021 11:50:06 PM I Like It. | Report Abuse Reply
You are not giving proper advice on commodities nifty call and put options.sir. I have loss so much amount.please give correct advice.this is my request.
47. Rajesh Jadhav  Jun 22, 2020 10:42:12 PM I Like It. | Report Abuse Reply
Dear sir ,
      I was trade with motilal oswal software since six years I want to resister complaint against your software
which have problem on the date of 30.04.2020 due to this I have lost my all money one day before
I have balance Rs.15000 in my account and at the day end of 30.04.2020 I have hold the Apollo tyre 795
share which cost of Rs 77877 how system accept this this I don't know , how possible to by it and hold that qty.
Your executive told me on that there was some system problem we will settle this In next trading
session mean while Miss Vaishalii call me on Saturdays and told me you have Tata motors 47 stock
which I can't see in my account will square off by her on Monday she told me she will call mi on Monday morning.
On Monday I wait for her call but on Monday market goes down I do exit from my Apollo tyre position
My net position shows Rs -66000 balance but when at day end I check how they do this I can't understand.
Then call number of times but each time your executive told me on that day there is system problem they will resolve very soon.
Next day I have remain account balance only Rs 940 and executive told me after settlement this is your balance and I have to accept this. Sir I accept I was do number of trade on that day but I was not hold any stock in my account that day .
Sir how I accept this I request you to check my account details and take necessary action to get my money back.
Rajesh Jadhav

47.1. Nitish shaw  Jun 10, 2021 5:14:13 PM I Like It. | Report Abuse
U register with the nice plus portal of NSE Investor services cell and upload ur sequence of events and call recording and ledger balance in a sequential manner.They will seek them an explanation.
There is another body called Resolver India where also u we'd to have ur supporting documents documents uploaded and then wait for matter to be taken up.
Hope u will get some justice.
46. Archana padhye  Jun 9, 2021 12:30:43 PM I Like It. | Report Abuse Reply
App down for unlimited time...account opened quickly but POA form not auction happened profit on sale gone plus 10000 loss...whoever is advisor never lifts phone during trading hours...closing account and shifting elsewhere
46.1. Nitish Shaw  Jun 10, 2021 5:09:12 PM I Like It. | Report Abuse
This kind of activities is only bread and butter of MOSL.
However nice plus portal of NSE can be of ur help.
Another body is Resolver India where u have to upload ur docx in support of ur case for resolution.
45. PRINCE PARMAR  Aug 11, 2020 4:15:01 PM I Like It. | Report Abuse Reply
Client ID - EAOPE67017
I've Already Given my Documents for Account Closure and Scrips Transfer 1 Month Ago But no One is following up with it. As Per Market Fluctuations I am Facing Huge losses as my Scrip Market value is Going Down and I am Unable to Sell it as I've Already lodged Account Closure Request.
I Request You to Close My Account ASAP to Prevent Unnecessary Future losses to me.
As I've Already waited from last 1 Month after Submitting Documents, I wish that you provide no further time to wait.
I Also Received Call from Person Named ABDUL SHAIKH and he Kept saying all the time that the Account Closure is already Processed.
But It is not yet.
I also received Final Email from your side on 25th July, indicating the Transfer is already processed and Will be done Within T + 7. but already 15 days have been passed.
Why All are Saying Lies.
45.1. Nitish Shaw  Jun 10, 2021 5:03:42 PM I Like It. | Report Abuse
This kind of activities is the only bread and butter of MOSL.However Nice plus portal of NSE Investor services cell shall make u teach ur logical end .If the compliant gets denotified then an arbitrary can be seeked.
However there is another organization known as Resolver India where u need to register along with supporting docs to resolve ur issue.
44. Manmeet Singh Vig  Aug 4, 2020 12:00:39 AM I Like It. | Report Abuse Reply
Motilal Oswal has shown me as defaulter on home Loan taken in september 2019 Loan Account number 59582.I have taken property from Karrm Infrastructure and i am paying builder my montly EMI on time till march 2020.I have no bussiness with Motilal Oswal showing me as defaulter in my CIBIL when my payments were made on time to builder.i have my statement proof for the payment cleared from my bank successfully. I have written multiple email to motilal Oswal at asking for loan details till date i have not received even single response TPS =005-532-278 . As per RTI i have the right to ask my details.Send me the disbursement loan details with my signature loan was approved.send me the copy of reminder notice sent by motilal to my address.
44.1. Nitish Shaw  Jun 10, 2021 4:59:23 PM I Like It. | Report Abuse
Forward the issue to NSE nice plus portal as it is their regulatory body in the ISC department.
Even if gets unresolved then u can file an arbitrary with the same body.
Another organization which can be of help to u is Resolver India where u need to register ur compliant along with supporting docs.
43. Nagendra singh  Oct 13, 2020 3:09:03 PM I Like It. | Report Abuse Reply
As per Aspire customer care suggestion regarding subsidy for loan a/c LANLXRAI 00117-180065067. The home electricity bill copy is send for necessary action but the subsidy is not given till date.But TPS number not received in mail yet.
43.1. Nitish Shaw  Jun 10, 2021 4:56:02 PM I Like It. | Report Abuse
Raise the issue with the nice plus portal of NSE Investor services cell....they will ask them a valid reason why have they done so and if any discrepancy is found then a befitting reply is awaiting them.
Or you can also register ur compliant with Resolver Indian platform
42. Dr ritesh motwani  Oct 21, 2020 12:49:00 AM I Like It. | Report Abuse Reply
My rate of interest is 13.5 % and 20 years time but they raised by own 14.10 and 27 years of time then I was demanding for foreclosure letter they are not ready to give me and harassed me but I get it they demand 1180 rs for fore closure letter I was paid but when they were provide foreclosure letter again 1180 rs also added I asked why twice then they said it will refunded after all process
They gave me a fore closure letter to pay the amount 01 September to 30 septembers they charged me full month interest but my payment was already done at 20 september they remaining days interest will be refunded but know they are saying nothing will be refunded
That motilal oswal home finance are fraud
42.1. Nitish Shaw  Jun 10, 2021 4:53:43 PM I Like It. | Report Abuse
Raise the issue with the NSE Investor services cell in the nice plus portal of NSE..hope ur issue will get a logical end
41. Ravindra  Jan 24, 2021 12:14:07 AM I Like It. | Report Abuse Reply
My value pack not returning and they are asking your value back is deactivated but not giving return my money if I do mail on quary@ then they are send same reply repeated please help me and who was open my account he now leaving job from Motilal
41.1. Nitish Shaw  Jun 10, 2021 4:52:09 PM I Like It. | Report Abuse
Raise the issue with the nice plus portal of NSE Investor services cell....they will teach them a lesson
40. Ravindra jadhav  Apr 14, 2021 1:12:46 PM I Like It. | Report Abuse Reply
Dear Motilal Oswal Team,

This is the Ravindra Jadhav Code is (IB0122)

This is to inform you that we have check our statement in that the Brokerages is charge higher side how it is possible ????

As per our contract sing in that Brokerage another one but you have change it without my confirmation.

Kindly check and and refund the Brokerage today Only

The is the treatable firm but you have do this type of activity which is not acceptable.

I Hope you understand my query and resolved it by today......
40.1. Nitish Shaw  Jun 10, 2021 4:50:21 PM I Like It. | Report Abuse
Raise the issue on nice plus portal of NSE in the investor services cell ........hope ur issue will get a proper direction
39. Aashish  May 11, 2021 12:05:10 AM I Like It. | Report Abuse Reply
Since I am not getting proper response from Motilal just writing here so to get options to escalate. I was promised by Motilal agent of 20,000 every month if I invest 5 lakhs. I invested 5 lakhs and said even 15,000 per month also good but I need. One month agent transferred 11k and one month some 14k. April month nobody contacted me. I followed up for transaction no body answered and I didnot get anything. Later agent said she is not handling my account as she is promoted. I said then somebody else should be taking care of my money or else they should have informed me. She said she had informed her manager and she is surprised that nobody contacted me.I lost my opportunity for April month. I could have made if I had 5 lakhs available. I had written to Motilal mail but not getting proper response, infact I asked them to release my 5 lakhs so that I can use it for intraday etc. But their callous approach is really worrisome. How they can mismanage somebody's money
39.1. Archana padhye  Jun 9, 2021 12:15:18 PM I Like It. | Report Abuse
No advisor received call immediately bad service technically bad app down for no of days
38. Raghavendra Bhutanal  May 20, 2021 5:48:45 AM I Like It. | Report Abuse Reply
Request Received on: May 19 2021 5:24PM
Interaction Id: 8242278
Expected Revert time: 6 Working Hours .

Request you to please suggest me for closing of demat account. I don't wanted any account held with this Motilaloswal.

Very Bad services this organization.i will not referring any customer of this MOFSL,,,Better we have to open an account in SHCL,,,,,,,

38.1. Archana padhye  Jun 9, 2021 12:13:49 PM I Like It. | Report Abuse
Really account was opened quickly but POA form was no uploaded immediately and because of considerable delay I faced 10000 actual loss and my sale at that price was cancelled that was added loss...also account is down for n number of days...technically also too bad
37. Altaf Patel  Oct 23, 2020 6:09:34 PM I Like It. | Report Abuse Reply
I have huge difference of Rs 23000 in ledger statement and actual trade statement. I am calling/mailing and discussing with them for several months and they say to look into it but there is no resolution at all till date. They just pass me from one department to other. How can they be such unprofessional, that too with their regular customer?
37.1. mohit gulati  Dec 3, 2020 4:49:22 PM I Like It. | Report Abuse
I am also facing the similar issue.
MOTILAL OSWAL is worst customer service provide in Market.
36. ASHISH UPADHYAY  Nov 5, 2020 10:24:44 AM I Like It. | Report Abuse Reply
35. VARSHA k sHAH  Oct 22, 2020 8:29:25 PM I Like It. | Report Abuse Reply

I am Varsha Keyur Shah,recently Demat a/c opened with you,several times I tried to contact i did not get satisfactory Reply Never put the client to Poper person, so Now Iam Fedup with treatmentand want to Close a/c I have paid Rs.2000/- to open a/c now at present Balance is Rs.700/- Kindly Refund the balance at the earliest
34. banshidhar  Oct 22, 2020 5:54:50 AM I Like It. | Report Abuse Reply
no 1 cheater company, maha thug
33. RAJAT AGGARWAL  Sep 18, 2020 4:04:27 PM I Like It. | Report Abuse Reply
32. Hiren Shah  Aug 31, 2020 9:58:38 PM I Like It. | Report Abuse Reply
I have requested several times to my agent to close my Demat account from last 2 years. I have filled the closer form two times and submitted to my agent but still, I am getting emails from MOSL regarding the Ledger And DP Statement. Kindly do the needful and close mu Demat account.