Axis Direct vs Motilal Oswal
A full side-by-side comparison of brokerage charges, demat AMC, margin, platforms, features and user ratings — updated for 2026.
Axis Direct
VS
Motilal Oswal
Axis Direct vs Motilal Oswal — quick verdict
Choose Axis Direct if
You want research and offline support
Invest Right. Invest Now.
Choose Motilal Oswal if
You want research and offline support
Full-service stock broker offering research-backed investing, wealth management, and advanced trading platforms.
Company overview
Axis Direct is a full-service broker incorporated in 2006; Motilal Oswal is a full-service broker incorporated in 1987.
| Parameter | Axis Direct | Motilal Oswal |
|---|---|---|
| Type of broker | Full-Service Broker | Full-Service Broker |
| Exchange membership | NSE · BSE · MCX · MSEI | NSE · BSE · MCX |
| Year of incorporation | 2006 | 1987 older |
| Number of branches | 4,800+ wider | 2,500+ |
| Active clients | 14 Lakh+ larger | 11,00,000+ |
Charges & AMC
Account-opening and maintenance charges for Axis Direct and Motilal Oswal compared side by side.
| Parameter | Axis Direct | Motilal Oswal |
|---|---|---|
| Trading a/c opening | ₹0 (Online) | ₹0 (Online) |
| Trading a/c AMC | ₹0 | ₹0 |
| Demat a/c opening | ₹0 | ₹0 |
| Demat a/c AMC | ₹0 (1st Year), ₹750 + GST per year thereafter | ₹0 (1st Year), then as per applicable plan lower |
| DP charges (per ISIN, sell) | ₹15.93 per debit transaction (including GST) | ₹15.34 + GST per debit transaction (per ISIN per day) lower |
Brokerage charges
How Axis Direct and Motilal Oswal price each trading segment, per executed order.
| Parameter | Axis Direct | Motilal Oswal |
|---|---|---|
| Equity Delivery | 0.50% | 0.20% |
| Equity Intraday | 0.05% | 0.02% |
| Equity Futures | 0.05% | 0.02% |
| Equity Options | ₹20 per executed order | ₹20 per lot |
| Currency F&O | 0.05% | ₹20 per lot |
| Commodity F&O | 0.05% | ₹20 per lot |
| Call & Trade | ₹20 per executed order | ₹20 per executed order |
Transaction charges (exchange turnover)
Exchange turnover and clearing charges passed through by Axis Direct and Motilal Oswal, per segment.
| Parameter | Axis Direct | Motilal Oswal |
|---|---|---|
| Equity Delivery | NSE: 0.00297% • BSE: 0.00375% | NSE: ₹2.97 per lakh (0.00297%) • BSE: As per exchange |
| Equity Intraday | NSE: 0.00297% • BSE: 0.00375% | NSE: ₹2.97 per lakh (0.00297%) • BSE: As per exchange |
| Equity Futures | NSE: 0.00173% | NSE: ₹1.73 per lakh (0.00173%) |
| Equity Options | NSE: 0.03503% (on premium) | NSE: ₹35.03 per lakh of premium (0.03503%) |
| Currency Futures | NSE: 0.00035% | NSE: ₹0.35 per lakh (0.00035%) |
| Currency Options | NSE: 0.03110% (on premium) | NSE: ₹3.15 per lakh of premium (0.00315%) |
| Commodity Futures | MCX: 0.00210% | MCX: As per exchange |
| Commodity Options | MCX: 0.04180% (on premium) | MCX: As per exchange |
Demat & DP charges
Depository (demat) charges for Axis Direct and Motilal Oswal — AMC, debit transactions, pledging and remat.
| Parameter | Axis Direct | Motilal Oswal |
|---|---|---|
| Demat Account Opening | ₹0 | ₹0 |
| Annual Maintenance Charges (AMC) | ₹0 (1st Year), ₹750 + GST per year thereafter | ₹0 for the 1st year (selected plans), thereafter as per applicable tariff |
| Debit Transaction Charges | ₹15.93 per debit transaction (including GST) | ₹15.93 per ISIN per day (including GST) |
| Pledge / Unpledge Charges | ₹50 + GST per request | ₹20 + GST per request |
| Dematerialisation (Demat) | ₹50 per certificate + GST | ₹150 per certificate + GST |
| Rematerialisation (Remat) | ₹50 per certificate + GST | ₹150 per certificate + GST |
| Failed Transactions | Nil | Nil |
Margin & leverage (MTF)
Intraday and delivery margin / leverage offered by Axis Direct and Motilal Oswal.
| Parameter | Axis Direct | Motilal Oswal |
|---|---|---|
| Equity Delivery | 100% of trade value (1x) | 100% of trade value (1x) |
| Equity Intraday | VAR + ELM Margin (Up to 5x*) | Up to 20% of trade value* (Up to 5x*) |
| Equity Futures | SPAN + Exposure Margin (As per available margin) | SPAN + Exposure Margin (1x) |
| Equity Options (Sell) | Premium Value (Not Applicable) | — |
| Currency Futures & Options | SPAN + Exposure Margin (As per available margin) | — |
| Currency Futures & Options | SPAN + Exposure Margin (As per available margin) | — |
| Commodity Futures & Options | SPAN + Exposure Margin (As per available margin) | — |
Features & account
Account type and feature availability across Axis Direct and Motilal Oswal.
| Parameter | Axis Direct | Motilal Oswal |
|---|---|---|
| 3-in-1 account | ✓ Yes better | ✕ No |
| Automated / API trading | ✕ No | ✓ Yes better |
| Margin Trading (MTF) | ✓ Yes | ✓ Yes |
| Trading in SME shares | ✓ Yes | ✓ Yes |
| Trading platforms | Axis Direct Web, Axis Direct Mobile App, Fast Trade | MO Investor, MO Trader, Desktop EXE |
| Intraday square-off | 3:15 PM | 3:15 PM |
| Other | Research Recommendations, Smart Edge Reports, Basket Orders, Price Alerts, Advanced Charting, Option Chain, Margin Trading Facility (MTF), Portfolio Tracker, Watchlists | Option Strategy Builder, TradeGuide Signal, Smart Stock Baskets, Research360, Price Alerts, Stock SIP, MTF (Pay Later), Advanced Charting |
Trading platforms & apps
Trading terminals, web platforms and mobile apps offered by Axis Direct and Motilal Oswal.
| Parameter | Axis Direct | Motilal Oswal |
|---|---|---|
| Trading platforms offered | Axis Direct Web, Axis Direct Mobile App, Fast Trade | MO Investor, MO Trader, MO Genie |
| Number of platforms | 3 | 3 |
| Platforms (summary) | Axis Direct Web, Axis Direct Mobile App, Fast Trade | MO Investor, MO Trader, Desktop EXE |
| Mobile / desktop apps | Web Trading Platform, Mobile Trading App, Desktop Trading Software | Web + Mobile, Desktop + Web |
User ratings
User ratings for Axis Direct and Motilal Oswal across the key parameters.
| Rated on | Axis Direct | Motilal Oswal |
|---|---|---|
| Fees | 4 | 4.2 better |
| Brokerage | 4.1 | 4.1 |
| Trading platform | 4.6 | 4.8 better |
| Customer service | 4.5 | 4.5 |
| Research | 4.8 | 4.9 better |
| Overall | 4.4 | 4.6 better |
Investment options
Which investment products Axis Direct and Motilal Oswal let you access.
| Parameter | Axis Direct | Motilal Oswal |
|---|---|---|
| Stocks / Equity | ✓ Yes | ✓ Yes |
| Commodity | ✓ Yes | ✓ Yes |
| IPO | ✓ Yes | ✓ Yes |
| Mutual Funds | ✓ Yes | ✓ Yes |
| Bonds / NCD | ✓ Yes | ✓ Yes |
Order types offered
Advanced order types supported by Axis Direct and Motilal Oswal.
| Parameter | Axis Direct | Motilal Oswal |
|---|---|---|
| Bracket Order | ✕ No | ✕ No |
| Cover Order | ✕ No | ✕ No |
| BTST | ✓ Yes | ✓ Yes |
| After Market (AMO) | ✓ Yes | ✓ Yes |
| GTC / GTT | ✓ Yes | ✓ Yes |
Safety & credibility
SEBI registration, financial strength and complaint record for Axis Direct and Motilal Oswal.
| Parameter | Axis Direct | Motilal Oswal |
|---|---|---|
| SEBI registration | INZ000250138 | INZ000158836 |
| NSE member code | 12798 | 10225 |
| Year of incorporation | 2006 | 1987 longer track record |
| Net worth | ₹1,639.08 Cr | ₹8,000+ Crore* stronger |
| Exchange memberships | NSE · BSE · MCX · MSEI | NSE · BSE · MCX |
| Latest complaint ratio | 0.002% | 0.0001% fewer complaints |
Complaints record
Exchange complaint data for Axis Direct and Motilal Oswal — the ratio matters more than the raw count.
| Parameter | Axis Direct | Motilal Oswal |
|---|---|---|
| Latest financial year | 2025–26 | 2025–26 |
| Exchange | NSE | NSE |
| Active clients | 14,18,214 larger base | 8,98,736 |
| Complaints filed | 22 | 1 |
| Complaint ratio | 0.002% | 0.0001% fewer complaints |
Pros & cons
The main advantages and drawbacks of each broker.
Axis Direct
▲ Pros
- ✓ Backed by Axis Bank, one of India's leading private sector banks.
- ✓ Convenient 3-in-1 Account for seamless banking and investing.
- ✓ Comprehensive research reports and expert investment recommendations.
- ✓ Supports stocks, F&O, commodities, mutual funds, IPOs, ETFs, bonds, and more.
- ✓ Advanced web and mobile trading platforms.
- ✓ Strong customer support with a nationwide branch network.
▼ Cons
- ✕ Brokerage charges are higher than most discount brokers.
- ✕ Annual Demat AMC is applicable after the introductory period.
- ✕ Premium research and advisory services may be suited more for long-term investors.
- ✕ Some brokerage plans vary based on customer profile and relationship.
- ✕ Call & Trade charges are applicable.
- ✕ Budget-conscious traders may find discount brokers more economical.
Motilal Oswal
▲ Pros
- ✓ Strong in-house equity research and investment advisory.
- ✓ Wide range of investment products under one platform.
- ✓ Advanced trading platforms including MO Investor App and MO Trader.
- ✓ Margin Trading Facility (MTF) and Portfolio Management Services (PMS) available.
- ✓ Large branch and relationship manager network across India.
- ✓ Established financial services brand with decades of market experience.
▼ Cons
- ✕ Brokerage charges are generally higher than discount brokers.
- ✕ Different brokerage plans may be confusing for new investors.
- ✕ Some advanced research and premium services are available under selected plans.
- ✕ Call & Trade charges are applicable.
- ✕ Account maintenance and service charges may vary based on the selected plan.
- ✕ Budget-conscious traders may find discount brokers more economical.
Explore more comparisons
Compare Axis Direct with
Axis Direct vs Zerodha Axis Direct vs Angel One Axis Direct vs Upstox Axis Direct vs Groww Axis Direct vs ICICI Direct Axis Direct vs Kotak Neo Axis Direct vs HDFC Securities Axis Direct vs SBI Securities Axis Direct vs Paytm Money Axis Direct vs Mirae Asset Sharekhan Axis Direct vs 5paisa Axis Direct vs Choice Broking Axis Direct vs m.Stock Axis Direct vs Sahi Axis Direct vs FYERS Securities Axis Direct vs SMC Global Axis Direct vs Anand Rathi Axis Direct vs Jainam Broking LimitedCompare Motilal Oswal with
Motilal Oswal vs Zerodha Motilal Oswal vs Angel One Motilal Oswal vs Upstox Motilal Oswal vs Groww Motilal Oswal vs ICICI Direct Motilal Oswal vs Kotak Neo Motilal Oswal vs HDFC Securities Motilal Oswal vs SBI Securities Motilal Oswal vs Paytm Money Motilal Oswal vs Mirae Asset Sharekhan Motilal Oswal vs 5paisa Motilal Oswal vs Choice Broking Motilal Oswal vs m.Stock Motilal Oswal vs Sahi Motilal Oswal vs FYERS Securities Motilal Oswal vs SMC Global Motilal Oswal vs Anand Rathi Motilal Oswal vs Jainam Broking LimitedDisclaimer: Investments in the securities market are subject to market risks; read all related documents carefully before investing. This page is for information only and is not investment advice. Brokerage, AMC and other charges change frequently — always verify against the broker's official website before opening an account. Affiliate disclosure: "Open account" links are affiliate links and we may earn a commission at no extra cost to you; this does not influence our ratings.