Motilal Oswal Review: All About The Brokerage House You Need To Know
Motilal Oswal Review, Brokerage Charges, Demat A/C, Platforms & more
Motilal Oswal more appropriately known as Motilal Oswal Securities Ltd. This name belongs to one of India’s best full-service broker. The company is a Mumbai based firm. And, it’s been in business for more than three decades. As a matter of fact, it’s flourished under the leadership of Motilal Oswal and Raamdeo Agarwal. The firm has had over 10,00,000 registered clients. And, that’s the prime parameter they use to define their magnificence. Well, we’re about to check how magnificent they are in this article. So, you may consider it Motilal Oswal’s review in proper terms. We must inform you that we have based this article based on the business information available on them through reliable sources. We’ve even deployed the data we collected from one of our anonymous surveys Motilal Oswal’s customer reviews. This survey was conducted to fetch the reaction of the broker’s clients in the first place. Anyway, you may expect some relevant information to be revealed by the end of this article. We’ll focus on deciphering how their business actually works. We’ll tell you about Motilal Oswal’s charges in terms of brokerage and taxes. We’ll elaborate their range of products and services. We’ll cater you with a step-by-step guide on how to become their registered traders. And, on top of all, we’ll reveal the advantages and disadvantages of trading with them.
Customer Reviews and Ratings
|Experience||9.0 / 10|
|Trading Platform||8.4 / 10|
|Product & Services||8.6 / 10|
|Brokerage Charges||8.2 / 10|
|Research||8.8 / 10|
|Overall Rating||8.60 / 10|
The chart above has been positioned tactically to help you out. Just one fine look at it gives you enough information on how Motilal Oswal’s customer review them. As you may see, it primarily rates the broker based on seven paraments. And, here’s what the clients had to say about them: –
- Their customers rate them 9/10 for the experience they had.
- Their customers rate them 8.4/10 for the performance and functionality of their trading platforms.
- The customers rate them 8.6/10 for their products and services line up.
- They were rated 8.2/10 for their brokerage charges.
- The customer rated the broker 8.8/10 for their research and advisory facilities.
- They were rated 8.6/10 on the whole.
- They even received a 5-star review from their clients.
The entire chart is represented on the basis of what over 3500 of Motilal Oswal’s clients think about them.
About Motilal Oswal: An Insight Into The Company
|Broker Type||Full Service Broker|
|Founder||Motilal Oswal, Raamdeo Agrawal|
As mentioned earlier, Motilal Oswal was founded by Motilal Oswal and Raamdeo Agarwal. The company was incorporated in 1987 under the supervision of ROC Mumbai. As of today, the company acts primarily as a brokerage and advisory firm. However, its business domain is rather diversified. It provides services ranging from retail broking to asset management to even investment banking. It is registered with many nationally acclaimed exchanges like NSE and BSE. This enables them to provide a diversified reach to their customers. Moreover, they even act as a depository participant with both CDSL and NSDL. This eases Demat based operations for their customers. They happen to have a brilliantly distributed network of branches. We’re talking about a spread of 2,300 business locations across more than 550 cities. And, they deploy their products and services through an equally amazing staff size worth 2,200. We’ll uncover more relevant facts about the company in the article ahead. We’ll talk about Motilal Owsal’s offers. We’ll put forward the features of Motilal Oswal Mobile App and more. And, all we’re asking of you is to be patient.
How Much Brokerage Does Motilal Oswal Impose On Clients?
|Brokerage Charge & Fees|
|Equity Delivery Trading||0.50%|
|Equity Intraday Trading||0.50%|
|Commodity Options Trading||0.50%|
|Equity Futures Trading||0.50%|
|Equity Options Trading||Rs.70 per Lot|
|Currency Futures Trading||0.50%|
|Currency Options Trading||Rs.70 per Lot|
|Minimum Brokerage||Percentage of Transacton|
|Demat AMC Charges||Free or Rs.300 per Annum|
|Trading AMC Charges||Free|
|Margin Money||Minimum Rs.10,000|
|Brokerage Calculator||Motilal Oswal Brokerage Calculator|
Motilal Oswal is one of the finest full service brokers in India. And, they happen to have an equally suiting brokerage plan. The chart above is an exact representation of Motilal Oswal’s brokerage charges. And, as you can see, it’s rather distinctive in terms of services offered and brokerage imposed. To begin with, the chart states about Equity delivery Trading. This particular service is provided for a brokerage worth 0.50% per transaction. The next slot is given to Equity Intraday Trading services. These are charged at 0.05% per transaction. The exact same brokerage rate is levied for Commodity Options, Equity Futures and Currency Futures trading. Equity Options and Currency Options trading services are treated alike too. The brokerage for both these services are levied at Rs. 70 per lot. The minimum applicable brokerage depends upon the transaction value. Motilal Oswal brokerage does not apply to Trading AMC. The broker does charge a sum of Rs. 300 per annum for Demat AMC. Moreover, their traders are required to oblige by a minimum value in terms of Margin Money. The limit set for this is Rs. 10,000. And, this amount has to be maintained in order to tap into the broker’s trade exposure services.
Other Charges: List Of Charges Apart From Brokerage As Imposed By Motilal Oswal Broking
|Transaction Charges||0.00335% of Total Turnover|
|STT||0.0126% of Total Turnover|
|SEBI Turnover Charges||0.0002% of Total Turnover|
|Stamp Duty||Depends on State (very minimal)|
|GST||18% of (Brokerage + Transaction Charges)|
Much like any other brokerage firm, Motilal Oswal other charges include a set of five taxes. These taxes are to be levied on behalf of the government. And, the chart right above this segment is an exact representation of how Motilal Oswal operates in these matters. The chart opens up mentioning about Transaction Charges. These charges are levied at a rate of 0.00335% on total turnover. The second slot is allocated to STT. This is otherwise known as Securities Transaction Tax. This tax is levied at a rate of 0.00126% on total turnover. The next slot tells you about the rate at which SEBI Turnover Charges are imposed. This tax is imposed at a rate of 0.0002%. The fourth slot is all about Stamp Duty. This doesn’t specify a number against it. That’s because this charge is a variable one. And, it primarily varies as per the state where the transaction takes place. Nevertheless, it is a negligible charge when compared to the rest of the taxes. The fifth and the last slot tells the incursion rate for GST. This is charged at 18% over brokerage and transaction charges.
All Charges Corresponding to Motilal Oswal Demat Account Opening
|Account Opening Fees|
|Depository Source||NSDL & CDSL|
|Account Opening Charges||Zero|
|Demat AMC Charges||Free or Rs.300 per Annum|
|Trading AMC Charges||Free|
|Margin Money||Minimum Rs.10,000|
|Offline to Online||Yes|
You already know about the brokerage being incurred by the broker. Now, it’s time you learn about Motilal Oswal’s Account Opening charges. We’ve enlisted all the relevant charges within the table above. It is in fact, a proper representation of any and all account related charges incurred by Motilal Oswal. As mentioned before the broker is a DP of both NSDL and CDSL. Motilal Oswal Demat Charges are totally non-existent. This means their clients do not pay anything for getting registered with them. The same trick even applies to Motilal Oswal Trading Charges and Motilal Oswal Trading AMC. Although, the clients must pay Rs. 300 every year in terms of Motilal Oswal Demat AMC. They even need to retain a minimum Margin balance worth Rs. 10,000. This is mandatory in order to use the broker’s exposure facilities. The clients may even use the offline to online conversion feature of the broker.
List Of Offers Provided By Motilal Oswal
|Free Demat Account||Yes|
|Free Trading Account||Yes|
|Discount on Brokerage||Yes|
|Trading Happy Hours||No|
|Flexible Brokerage Plans||Yes|
|1 Month Brokerage Free||Yes|
|Zero Brokerage for Loss Making Trades||No|
Being a full service broker doe not usually allow you to grant many offers. This is however, not true in this case. In fact, Motilal Oswal has many offers to compete toe-to-toe with ay discount broker. The clients get to use free Demat and Trading accounts. The broker offers flexible brokerage plans to choose from. Their clients are offered a whole month of services without any brokerage. And, even Motilal Oswal brokerage charges are granted at discounted prices. Moreover, they even grant referral offers. What else can anyone truly seek from a full service broker?
Motilal Oswal Account Opening Procedure
Motilal Oswal provides the Demat and Trading services only to registered clients. And, if you wish to become one, then you’re at the right place. This very section is meant to guide you through the Motilal Oswal Account opening process. And, the best part is that it’s merely a four step procedure. So, here’s how it goes: –
- The first step and the easiest one is to locate a button. This button we’re referring to has ‘Open Account’ marked all over it. And, it’s positioned right at the bottom of this section. All you need to do after you locate it is to click it.
- The following step takes you to a completely new page. In fact, this page pops up right on your computer screen. And, it’ll consist of a very specific form. You must go through the form carefully and fill it up. Do mind to provide only verifiable information.
- The third step is to submit the form along with a couple other documents. These documents are required to verify every piece of relevant information you provide. Anyway, here’s the list of all the require documents: –
- A copy of your passport sized image. This one establishes your identity in the first place.
- A copy of your ADHAAR Card. This on verifies your identity and address.
- A copy of your bank account statement. This one establishes your current economic status.
- A copy of your PAN Card. This one verifies your economic status.
- For the last step, you must wait after submitting the form and the documents. This is perhaps the most crucial of all. You’ll receive a call from one of the broker’s representatives. And, this will guide you through any remaining formalities. Moreover, this is the call that finally decides if you get your own Demat and Trading Account. And, if you get past this, you’ll need to clear out any Motilal Oswal account opening charges as required.
Reasons To Open Up An Account With Motilal Oswal
Motilal Oswal has excelled the art of serving diverse clients. But that’s not the only reason why you must select them as your broker. In fact, these are some of the other reasons as to why they are the best: –
- They grant diversified advisory services across multiple asset classes. Moreover, this information is easily accessible through a number of devices.
- They even provide a wide range of customized investment plans for their customers.
- You even get a dedicated team for risk management post Motilal Oswal’s Account Opening procedure.
List Of Products Offered By Motilal Oswal
The aforementioned table is a representation of Motilal Oswal’s product range. The broker is known to provide a variety of services across diversified financial instruments. And, as you can see in the table, they provide everything from Equity Trading to Commodity Trading and even Currency Trading. Their other products include Currency, Options, Futures, Mutual Funds, SIPs and even Forex trading.
List Of Services Offered By Motilal Oswal
|3 in 1 Acount||No|
|Trading Exposure||Upto 30x|
Motilal Oswal’s services include everything related to Demat and Trading activities. They even provide Intraday and IPO services along with Stock Recommendations and PMS. As a matter of fact, their customers can avail a trade exposure of upto 30x. And, all they need to do to acquire it is have a minimum margin balance worth Rs. 10,000.
Research & Advisory Facilities As Provided By Motilal Oswal
|Research & Advisory|
|Company Stock Review||Yes|
|Free Stock Tips||No|
|Daily Market Review||Yes|
Motilal Oswal takes pride in their research and advisory services. And, they’re right in doing so. Having trouble believing us? Well, here’s the complete list of Motilal Oswal’s research and advisory roster:
- They grant Fundament, Research and Company Reports.
- They grant the reports on Annual, Monthly, Weekly and Daily manner.
- They provide Company Stock Reviews, Top Picks and IPO Reports as well.
- And, to top all of that, they even provide Offline Advisory and a Relationship Manager.
List Of Trading Leverage As Provided By Motilal Oswal
|Exposure / Leverage|
|Equity Delivery||Upto 15x|
|Equity Intraday||Upto 30x|
|Equity Futures||Upto 15x|
|Equity Options||Upto 5x|
|Currency Futures||Upto 15x|
|Currency Options||Upto 12x|
Motilal Oswal is known as one of the most generous brokers. And, that’s not merely because of their products or services. In fact, that’s not even due to their brokerage plans. This is so because of their provisions on trade exposure. And, you may take help from the table above in this matter. It enlists all of Motilal Oswal’s Exposure provision to the t. As you can see, the broker provides 15x exposure on Equity Delivery, Equity Futures, Currency Futures and Commodities trading. It even provides 5x and 12x exposure on Equity Options and Currency Options trading. And, at last, it allows an exposure of upto 30x on Equity Intraday trading.
List Of All Motilal Oswal Trading Platforms
|Desktop Platform – Windows||Yes|
|Desktop Platform – Mac||Yes|
|Desktop Browser Platform||Yes|
|Mobile Site Platform||Yes|
|Android App Platform||Yes|
|iOS App Platform||Yes|
|Windows App Platform||No|
|Other Mobile OS Platform||No|
|Real time Updates||Yes|
|Online MF Buy||Yes|
|Multi Account Management||Yes|
There are a total of 3 Motilal Oswal platforms pertaining to trade execution. And, here’s a list of all the major features each of those platforms has –
- Motilal Oswal Desktop Based Trading Terminal: This platform is known as Orion. This particular software requires to be installed on desktop in order to function. Here are some of its most promising features: –
- The platform comes equipped to perform in low data bandwidth. This enables the traders to commence trades effectively throughout the day. Furthermore, the platform is integrated with certain customizable shortcut key functions. This enables the traders to customize certain keys to perform complex tasks with ease. This further enables the platform to perform even faster.
- The platform comes loaded with a wide variety of charting options with over forty different technical indicators. All the indicators can be used within a single scrip. And, with advanced indicators like Triple Exponential Moving Average, Bollinger Band and Moving Averages, trading becomes really calculative and easy.
- The platform enables the traders and investors to create watchlists. These watchlist can further be customized as per one’s requirement. This enables the traders and investors to keep track of certain stocks across indices and exchanges easily.
- The platform even allows access to the broker’s research reports. As a matter of fact, the users can access research reports on over 250 companies in over 21 sectors with a single click at any given time. This enables the traders to make informed decisions.
- Motilal Oswal Mobile App For Traders: This platform goes by the name of MO Trader. And, it is available for both Android and Apple based devices. It typically has over 100,000 downloads and 3,292 reviews on Play Store. The average rating on the app is 3.4/5. Anyway, here are a few features of the app: –
- The app comes with a My Wallet feature. This enables the users to keep a track of their orders, positions and limits, all within one screen.
- The app can be used to commence secure trades across NSE and BSE.
- The app can even be used to create and customize 4 specific multi- asset watchlist. This enables the traders to segregate their favored stocks and keep a track of their respective performances.
- The app can be used for proactive Forex trading.
- The app can be used to get the detailed insight into any particular company.
- The app can even be customized to create custom alerts and push notifications.
- Motilal Oswal Mobile Based Platform-2: This one is known by the name of MO Investor. And, here are some of its leading features:
- The app comes loaded with a feature called Me-Gold. This particular feature is a unique approach towards gold-based trading. In fact, it enables the traders to own certain amounts of gold through seamless online transactions and no paper work.
- And, to top all the features, the app has Stock Scanner. This feature allows the traders to hunt down relevant stocks as per their specific requirements.
Customer Care Services By Motilal Oswal
|Toll Free Number||1800 200 6626|
Here’s a list of Motilal Oswal’s Customer Care services:
- The broker has a total of 85 branches located across the country. And, all of Motilal Oswal’s branches are equipped with proficient staff to help the customers.
- They even have a dedicated grievance redressal number. In fact, the Motilal Oswal customer care number: 1800 200 6626 is a toll free number. And, it can be accessed 24*7.
- They even provide all services related to online and offline trading 24*7.
- And, the best part about their customer care service is the provision of a dedicated dealer.
Complaints Against Motilal Oswal
|Complaints (Last Year)|
|Lodged in BSE||178|
|Resolved in BSE||165|
|Lodged in NSE||145|
|Resolved in NSE||130|
Motilal Oswal does everything to ensure the provision of best in class services. However, it does miss out on certain aspects from time to time. And, that leads to unhappy customers. Speaking of which, they received a total of 178 complaints in BSE last year. They even received some 145 complaints in NSE last year. However, they managed to resolve 165 and 130 complaints against them logged in BSE and NSE respectively.
Disadvantages Of Trading With Motilal Oswal
Motilal Oswal is by far one of the best full service brokers in India. But that doesn’t mean that they do not have any shortcomings. In fact, here are two of the most worrisome issues they have as a broker: –
- They do not provide any sort of chat support to their customers.
- They do not even provide any sort of Free Stock Tips to their customers.
We believe the entire article grants enough information on Motilal Oswal. And, we hope that it helps you out to decide if the broker is worthy enough to be your support. Anyway, you may contact us in case you still have any queries to ask.
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