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ICICIDirect Vs Motilal Oswal Share Broker Comparison

The side-by-side comparison of ICICI Securities Pvt Ltd. and Motilal Oswal Securities Ltd stock brokers in India. The comparison below highlights the similarities and differences between ICICIDirect and Motilal Oswal's brokerage, customer service, maintenance fees, tools and investment options provided to India Stock Market investors. If you are confused in choosing the best broking site, this page is to help you find which is the best broker among ICICIDirect and Motilal Oswal.

  ICICI Securities Pvt Ltd. Motilal Oswal Securities Ltd
 
ICICI Securities Pvt Ltd. Logo Motilal Oswal Securities Ltd Logo
About the Broker ICICIdirect is a retail trading and investment service from ICICI Securities, the largest retail stock broker firm in India offering a wide range of investment options to the retail and institutional customers. ICICI Securities is part of ICICI Group... Know more about ICICI Securities Pvt Ltd. 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 Fun... Know more about Motilal Oswal Securities Ltd
Type of Broker Full Service Broker Full Service Broker
Supported Exchnage BSE, NSE BSE, NSE, MCX
Account Type 3-in-1 Account (I-Secure Plan) Default Plan
Broker Enquiry Open an Online Trading Account with ICICIDirect. Leave your contact info and we will get in touch with you. Open an Online Trading Account with Motilal Oswal. Leave your contact info and we will get in touch with you.
Year of Incorporation
Number of Branches
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Stock Broker Fees / Charges

  ICICI Securities Pvt Ltd. Motilal Oswal Securities Ltd
Trading Account Opening Fees ₹975 ₹1000
Trading Account AMC ₹0 ₹0
Demat Account Opening Fees ₹0 ₹0
Demat Account AMC ₹450 ₹299 (1st year free)
Demat Account is Mandatory? No No
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Trading Brokerage Charges

Brokerage Plan 1

  ICICI Securities Pvt Ltd. Motilal Oswal Securities Ltd
Account Type 3-in-1 Account (I-Secure Plan) Default Plan
Fixed Charges
Equity Delivery Brokerage 0.55% 0.50%
Equity Intraday Brokerage 0.275% 0.05% (both side)
Equity Futures Brokerage 0.05% to 0.03% 0.05% (both side)
Equity Options Brokerage ₹95 to ₹35 per lot ₹100 per lot (both side)
Currency Futures Trading Brokerage 0.050% to 0.030% ₹20 per lot (both side)
Currency Options Trading Brokerage ₹25 to ₹10 per lot ₹20 per lot (both side)
Commodity Futures Trading Brokerage NA 0.05% (both side)
Commodity Options Trading Brokerage NA

Brokerage Plan 2

  ICICI Securities Pvt Ltd. Motilal Oswal Securities Ltd
Account Type I-Saver Plan Value Pack (VP2KLT)
Fixed Charges ₹2000 (one time fee)
Equity Delivery Brokerage 0.75% to 0.25% 0.40%
Equity Intraday Brokerage 0.75% to 0.25% 0.04% (both side)
Equity Futures Brokerage 0.05% to 0.03% 0.04% (both side)
Equity Options Brokerage ₹95 to ₹65 per lot ₹50 per lot (both side)
Currency Futures Trading Brokerage 0.05% to 0.03% ₹22 per lot (both side)
Currency Options Trading Brokerage ₹95 to ₹65 per lot ₹22 per lot (both side)
Commodity Futures Trading Brokerage NA 0.04% (both side)
Commodity Options Trading Brokerage

Brokerage Plan 3

  ICICI Securities Pvt Ltd. Motilal Oswal Securities Ltd
Account Type 3-in-1 Account (I-Secure Plan) Value Pack (VP1LACLT)
Fixed Charges ₹1,00,000 (one time fee)
Equity Delivery Brokerage 0.55% 0.10%
Equity Intraday Brokerage 0.275% 0.01% (both side)
Equity Futures Brokerage 0.05% to 0.03% 0.01% (both side)
Equity Options Brokerage ₹95 to ₹35 per lot ₹20 per lot (both side)
Currency Futures Trading Brokerage 0.050% to 0.030% ₹10 per lot (both side)
Currency Options Trading Brokerage ₹25 to ₹10 per lot ₹10 per lot (both side)
Commodity Futures Trading Brokerage NA 0.01% (both side)
Commodity Options Trading Brokerage NA

Other Charges

Minimum Brokerage Charges ₹35 per trade ₹25 for Delivery and ₹12 for Intraday
Other Brokerage Charges Minimum balance: ₹1,000
Call & Trade Charges ₹25 per call after first 20 free calls per month Nil
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Taxes

  ICICI Securities Pvt Ltd. Motilal Oswal Securities Ltd
Securities Transaction Tax (STT)
  • Equity Intraday: 0.025% (on Sell trade)
  • Equity Delivery: 0.1% (on Buy and Sell)
  • Equity Futures: 0.01% (on Sell trade)
  • Equity Options: 0.05% (on Sell trade premium) or 0.125% (on excersied options)
  • Currency Futures: Nil
  • Currency Options: Nil
  • Commodities: 0.01% on sell side (Non-Agri)
  • Equity Intraday: 0.025% (on Sell trade)
  • Equity Delivery: 0.1% (on Buy and Sell)
  • Equity Futures: 0.01% (on Sell trade)
  • Equity Options: 0.05% (on Sell trade premium) or 0.125% (on excersied options)
  • Currency Futures: Nil
  • Currency Options: Nil
  • Commodities: 0.01% on sell side (Non-Agri)
Exchange Transaction Charges Check table below Check table below
SEBI Charges Rs 15 per Crore Rs 15 per Crore
Goods and Services Tax (GST) 18% on (brokerage + transaction charges) 18% on (brokerage + transaction charges)
Stamp Duty Charged as per the state of the client's correspondence address. Charged as per the state of the client's correspondence address.
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Transaction Charges

  ICICI Securities Pvt Ltd. Motilal Oswal Securities Ltd
Equity Delivery NSE: 0.0031% | BSE: 0.0028% NSE: 0.00335% | BSE: 0.01%
Equity Intraday NSE: 0.0031% | BSE: 0.0028% NSE: 0.00325% | BSE: 0.002%
Equity Futures 0.0018% 0.002%
Equity Options 0.05% on Premium NSE 0.0511% | BSE 0.002% (on premium)
Currency Futures 0.0012% 0.00125%
Currency Options 0.05% on Premium 0.042% (on premium)
Commodity NA MCX: 0.0025%
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Exposure

  ICICI Securities Pvt Ltd. Motilal Oswal Securities Ltd
Equity Delivery 5x with Interest 4 times
Equity Intraday Upto 25x 20 time for Margin+ (Over 140 Stocks), 4 times for other stocks
Equity Futures 4x Intraday: 3 times | Carry forward position: no exposure
Equity Options 2x for shorting No exposure
Currency Futures NA NA
Currency Options NA NA
Commodity NA Intraday: 3 times | Carry forward position: no exposure
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Share Broker Features

  ICICI Securities Pvt Ltd. Motilal Oswal Securities Ltd
3 in 1 Account Yes No
Charting Yes Yes
Automated Trading No Yes
SMS Alerts No Yes
Online Demo Yes Yes
Online Portfolio Yes Yes
Margin Trading Funding Available Yes Yes
Margin Against Shares (Equity Cash) Yes Yes
Margin Against Shares (Equity F&O) Yes Yes
Trading Platform ICICIdirect.com (website), Trade Racer, ICICIDirect Mobile App Orion Lite, MO Trader App
Intraday Square-off Time 3:30 PM
Other Features Bullet Trading, Can trade in 32 exchanges through Saxo Trader
Referral Program
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Broker Ratings (Average User Rating)

  ICICI Securities Pvt Ltd. Motilal Oswal Securities Ltd
  400 Customer Reviews    Rate ICICIDirect 79 Customer Reviews    Rate Motilal Oswal
Fees Ratings 2.3 2.9
Trading Brokerage Rating 1.7 2.5
Trading Platform Usability 3.4 3.1
Customer Service Ratings 2.8 2.8
Overall Ratings Rated 2.4 stars Rated 2.7 stars
Broker Rating ICICIDirect is Rated 2.4 / 5 based on 400 customer reviews Motilal Oswal is Rated 2.7 / 5 based on 79 customer reviews
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Contact Broker / Request A Call Back

  ICICI Securities Pvt Ltd. Motilal Oswal Securities Ltd
Contact / Request Call Back
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Investment Options Available

  ICICI Securities Pvt Ltd. Motilal Oswal Securities Ltd
Stock / Equity Yes Yes
Commodity No Yes
Currency Yes Yes
Initial Public Offers (IPO) Yes Yes
Mutual Funds Yes Yes
Bond / NCD Yes Yes
Debt Yes Yes
Other Investment Options Equity, Derivatives, Currency, Mutual Funds, ETF, Insurance, FD/Bonds, Loans, Tax, ELocker, NPS PMS, Fixed Deposits, Insurance, Derivatives
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Customer Service Offered

  ICICI Securities Pvt Ltd. Motilal Oswal Securities Ltd
24/7 Customer Service No Yes
Onine Live Chat No No
Through Branches Yes Yes
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Order Type

  ICICI Securities Pvt Ltd. Motilal Oswal Securities Ltd
Bracket Order No Yes
Cover Order Yes Yes
Buy Today Sell Tomorrow (BTST) Yes Yes
Sell Today Buy Tomorrow (STBT) No Yes
After Market Order(AMO) No No
Good Till Cancelled (GTC) Yes Yes
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Research / Tips / Reports Published

  ICICI Securities Pvt Ltd. Motilal Oswal Securities Ltd
Daily Market Report Yes Yes
Free Tips Yes Yes
Quarterly Result Analysis Yes Yes
News Alerts Yes Yes
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Suitable for Investor Category

  ICICI Securities Pvt Ltd. Motilal Oswal Securities Ltd
Casual Investor Yes
Active Investor
Trader Yes

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Pros, Cons and Other Review Comments

  ICICI Securities Pvt Ltd. Motilal Oswal Securities Ltd
Pros
  • Offers 3-in-1 account which makes stock market investment very easy for casual investors.
  • Wide range of investment options available under one portal.
  • Provides a low bandwidth website which works well where internet connection is slow.
  • GTC (good till cancellation) and off-market hours order placement facility is very useful.

More Advantages...

  • Over 8.5 Lakh customers. One of the largest stock broker in India with PAN India coverage across 1,900+ locations in over 500 cities.
  • Provides daily, weekly, monthly, quarterly & yearly reports across asset class. Advice across Equity, Derivatives, Commodity, Currency and Mutual Funds.
  • Motilal Oswal offers customized brokerage schemes suited to your trading requirements. The cost depends on the scheme that you choose while opening your trading account.
  • Value pack brokerage plans are available for frequent traders.

More Advantages...

Cons
  • ICICI Security charges highest brokerage in comparison to most of the retail brokers in India.
  • Very high 'minimum brokerage' of Rs 35 per trade or 2.5% of the trade value whichever is lower.
  • Poor performance of website is reported in peak hours of trading.
  • Trading Terminal (Trade Racer) cost Rs 75 per month if brokerage paid in a month is less then Rs 750.
  • Demat Account is mandatory.
  • Commodity trading is not available for retail investors.
  • Call & trade cost extra Rs 25 per call after first 20 free calls in a month.

More Disadvantages...

  • Margin Deposit Rs 10,000+ is required
  • In order to use our Online Trading Platform, you will be required to have a demat account with Motilal Oswal. You cannot use your existing demat account.

More Disadvantages...

Reviews
Promo / Offers

ICICI 3-in-1 Account

ICICI Direct offers a 3-in-1 account, a combination of saving bank, trading and demat account. It offers one-click investment in Equity, Derivatives, Mutual Funds, IPO, ETF, Life Insurance, General Insurance, Currency, and Fixed Deposits.

Interested in opening a trading account? Request Callback from a stock broker.

Free (Trading & Demat Account) + Free Brokerage for 1st Month

Motilal Oswal offers FREE Trading + Demat Account (₹1000 waived). You can also avail free brokerage for first month, free access to research & advice and free use of trading platform.

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

Enquire about ICICIDirect Enquire about Motilal Oswal
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