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Motilal Oswal Complaints

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With over 35 years of industry experience and a client base which expands to more than 50 lakhs, Motilal Oswal Financial Services Ltd. (MOFSL) has become synonymous with India's investment partner. Incorporated in the year 1987, the financial services firm offers trading services in Equity, Commodity, Currency and Derivatives. It also offers other products like Mutual Funds, IPOs, US Stocks, Gold, Insurance, Fixed Income products and readymade portfolios such as Stock Baskets, Intelligent Adviso... 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
NSE 2024-25 79 893,218
BSE 2023-24 99 485,252
NSE 2023-24 498 893,218
BSE 2022-23 33 326,006
NSE 2022-23 516 805,125
BSE 2021-22 50 270,382
NSE 2021-22 445 896,851
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 Clients893218893218805125
Resolved through the exchange28492460
Non actionable048
Advised / Opted for arbitration022
Pending for redressal with exchange50046
No. of arbitration filed by clients1919
Decided by arbitrators in favour of the clients87
Decided by the arbitrators21
Pending for redressal with arbitrators1112

Motilal Oswal complaint at BSE

Active Clients485252326006270382
Resolved through the exchange793150
Non actionable16118
Advised / Opted for arbitration012
Pending for redressal with exchange420
No. of arbitration filed by clients101
Decided by arbitrators in favour of the clients201
Decided by the arbitrators100
Pending for redressal with arbitrators000


  • * 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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61. surendra   I Like It. |Report Abuse|  Link|January 10, 2024 12:30:42 AMReply
An ass will pick you profitable stocks than MOTILAL's TGS.
60. krishna   I Like It. |Report Abuse|  Link|December 11, 2023 6:12:30 AMReply
I have lost 12 lakh .How to recovery? pls help.
59. Rawalsinghrajpurohit   I Like It. |Report Abuse|  Link|August 24, 2023 12:49:34 PMReply
Mera pesa 29900 Rupees vapis khateme sahiye
59.1. RATAN DUTTA   I Like It. |Report Abuse|  Link|November 27, 2023 3:00:50 PM
59.2. Aditya Kumar goel   I Like It. |Report Abuse|  Link|December 8, 2023 12:08:44 PM
Ratan Dutta ji, pls provide your contact and how will you help me with taken details.
58. Aditya Kumar goel   I Like It. |Report Abuse|  Link|December 8, 2023 12:07:32 PMReply
I have recorded conversation of all the trades taken beyond my approved limit of loss and their incompetent advise without having strategy played with my money and made loss in 2 hours after their deep sleep on given call which was not in my understanding. I lost 78000 in 1 day and they are totally insensitive- unprepared and foolishly calling me from senior advisory team to regain their money on guarantee and assurance that they will give me return better than that and i will be in profits within month trades. they are doing nothing but earning their commissions from client's hedged money. please ask them Performance bank guarantee or their 50% compensation on lost amount and offer 52% commission in return on gained amount with margin money involvement before taking such calls.
57. Vinay patel   I Like It. |Report Abuse|  Link|July 7, 2023 12:49:35 PMReply
Totally I have lost 12 lakh rupees in Motilal Oswal.
I have not profited even a single rupee.
57.1. RATAN DUTTA   I Like It. |Report Abuse|  Link|November 27, 2023 3:01:28 PM
56. Hameeda   I Like It. |Report Abuse|  Link|November 1, 2023 10:53:51 PMReply
Motilal Oswal is one of worst broking company in India, just fraudulent finance company, only intention to make profit through cheating poor customers through debiting charges, they themselves changing customers plan dp plan their own choice to make money without customers signed request..there is no transperancy for their plan and charges,, please careful and cautious while dealing with such team..
55. Boravelli Narasimha Reddy   I Like It. 1|Report Abuse|  Link|January 18, 2023 8:20:18 PMReply
Motilal Oswal and their advisory services is a fraud. Through their advisory services they just lure and entice their clients with false expectations of high returns and compel you to invest in options for which they charge huge brokerage with fake claims and start trading on your money as they wish and finally at the end of the day cut a sorry figure. In the beginning they will tell you that your profile the loss is huge and they will promise that they will recover the loss and earn a very good profit. Yesterday, their advisor contacted me and told that there is a loss of 15% amounting to nearly Rs 33,000/- and he will recover the entire loss and earn additional income.As I was not convinced with his version and as I was aware that they will work for the benefit of their company and not for the benefit of the client , he explicitly told that the brokerage and the profit would be in the ratio 2:6 and he will take the trade only if it results in such return. After discussing for more than an hour, he got me in to a forex trade and after entry I was told that the market is not going as per expectations and hence has to be exited at stop loss.This exit at SL resulted in loss of around Rs 11,000 but the total loss on account o f that trade was informed as Rs 82,500/- which includes Rs 60,000/- brokerage and another Rs 11,000 as GST.All these things were not at all informed clearly, it was just told that it would definitely result in huge profit. Today again they repeatedly came on liine asking me to bring in more funds to recover the losses.The advisor and another person said to be his senior insisted me to add bigger funds. As I made up my mind as any funds added will also wiped out in the shape of brokerage I did not accept for it and demanded for waiver off brokerage as it was quite contrary to what I was told.It appears that this entire advisory services of the company is a fraud. So don't fall into the prey and invest in MO. SEBI and Government of India must investigate the malpractices and unethical practices indulged in Motilal Oswal administration and ban the advisory services of the company and save the hard earned money of poor innocent investors from getting wiped out by this fraud and cheating done by the advisory services of the Motilal Oswal company.My Client Code is MOQ2017 and I have recorded the entire conversation of the Advisor and I am going to file a case for waiver of the Brokerage levied to me and for initiating stern action against MOFSL.
55.1. Saptarshi Duari   I Like It. |Report Abuse|  Link|October 9, 2023 8:30:18 PM
Same happened to me.
54. Shaik Noor Mohammed   I Like It. |Report Abuse|  Link|March 8, 2023 11:31:36 AMReply
I have opened Dmat account with motilal oswal and my account ID: RHLG0007. I want to close my account and i am struggling as the broker does not allow me to close my account. I have filled up account closure closure form and submitted to them multiple times. They only return back with stereo type messages to re-consider and continue. Please be ware while opening account with this broker. There customer care responses are very vogue and you will end up without solution.
Motilal has the worst customer crae setup. Worst broker services dont fall in trap with this company.
53. Antarshakti   I Like It. |Report Abuse|  Link|October 19, 2022 1:23:37 PMReply
Bogus company. Their incompetent advisors will lure and entice you with fake expectations of high returns and compel you to invest and also buy insurance policies with fake claims and start trading on your money as they wish and tell at the end of the day how much money you have lost without giving you proper clarity. Similarily in a matter of few days they will wipe out all your funds. To make you recover your loses they will insist on you to add bigger funds and wipe it out as well. All complaints to their greviences department and customer care department goes unattended, as the company itself is a fraud. Don't invest in MO. SEBI and Government of India must investigate the malpractices and unethical practices indulged in Motilal Oswal administration and ban the company from their trading services to save the hard earned money of poor investers from getting wiped out by this fraud and cheater Motilal Oswal company.
52. Ravi ranjan   I Like It. |Report Abuse|  Link|June 14, 2022 6:19:13 AMReply
Motilal Oswal company is a very bad company, always deducts customer's charges without any information.and taken hidden charges too high
51. Rakesh Chawla   I Like It. |Report Abuse|  Link|March 30, 2022 6:19:35 PMReply
Moti lal Oswal ne bahut jyda cheat kiya misguide kiya product ki knowledge ni dete sahi se or active krwa dete h mere 50000 ka loss krwa diya brokerage k liye value pack krwa diya or fir wo bhi misguide kiya
51.1. SAVITA BHUJLE   I Like It. |Report Abuse|  Link|April 18, 2022 10:49:10 PM
50. Shivali   I Like It. |Report Abuse|  Link|December 21, 2021 4:28:37 PMReply
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.
49. Prikesh Piyush Joshi   I Like It. |Report Abuse|  Link|July 30, 2021 4:15:51 PMReply

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.
48. Vinay N Nadiger   I Like It. |Report Abuse|  Link|June 26, 2021 1:05:51 PMReply
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
47. Vinay   I Like It. |Report Abuse|  Link|June 25, 2021 10:50:06 PMReply
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.
46. Rajesh Jadhav   I Like It. |Report Abuse|  Link|June 22, 2020 9:42:12 PMReply
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

46.1. Nitish shaw   I Like It. |Report Abuse|  Link|June 10, 2021 4:14:13 PM
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.
45. Archana padhye   I Like It. |Report Abuse|  Link|June 9, 2021 11:30:43 AMReply
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
45.1. Nitish Shaw   I Like It. 1|Report Abuse|  Link|June 10, 2021 4:09:12 PM
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.
44. PRINCE PARMAR   I Like It. |Report Abuse|  Link|August 11, 2020 3:15:01 PMReply
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.
44.1. Nitish Shaw   I Like It. 1|Report Abuse|  Link|June 10, 2021 4:03:42 PM
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.
43. Nagendra singh   I Like It. |Report Abuse|  Link|October 13, 2020 2:09:03 PMReply
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   I Like It. 1|Report Abuse|  Link|June 10, 2021 3:56:02 PM
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   I Like It. |Report Abuse|  Link|October 20, 2020 11:49:00 PMReply
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   I Like It. 1|Report Abuse|  Link|June 10, 2021 3:53:43 PM
Raise the issue with the NSE Investor services cell in the nice plus portal of NSE..hope ur issue will get a logical end