Groww vs Motilal Oswal Financial Services Limited (MOFSL)
A full side-by-side comparison of brokerage charges, demat AMC, margin, platforms, features and user ratings — updated for 2026.
Groww
VS
Motilal Oswal Financial Services Limited (MOFSL)
Groww vs Motilal Oswal Financial Services Limited (MOFSL) — quick verdict
Choose Groww if
You want low-cost, self-directed trading
Investing Made Simple
Choose Motilal Oswal Financial Services Limited (MOFSL) if
You want research and offline support
Full-service stock broker offering research-backed investing, wealth management, and advanced trading platforms.
Company overview
Groww is a discount broker incorporated in 2016; Motilal Oswal Financial Services Limited (MOFSL) is a full-service broker incorporated in 1987.
| Parameter | Groww | Motilal Oswal Financial Services Limited (MOFSL) |
|---|---|---|
| Type of broker | Discount Broker | Full-Service Broker |
| Exchange membership | NSE · BSE · MCX | NSE · BSE · MCX |
| Year of incorporation | 2016 | 1987 older |
| Number of branches | Not Disclosed | 2,500+ |
| Active clients | ~1.29 Crore larger | 11,00,000+ |
Charges & AMC
Account-opening and maintenance charges for Groww and Motilal Oswal Financial Services Limited (MOFSL) compared side by side.
| Parameter | Groww | Motilal Oswal Financial Services Limited (MOFSL) |
|---|---|---|
| Trading a/c opening | ₹0 (Free) | ₹0 (Online) |
| Trading a/c AMC | ₹0 (Free) | ₹0 |
| Demat a/c opening | ₹0 (Free) | ₹0 |
| Demat a/c AMC | ₹0 (Free) lower | ₹0 (1st Year), then as per applicable plan |
| DP charges (per ISIN, sell) | Depository ₹3.50 (Male) / ₹3.25 (Female) + Groww ₹16.50 per debit transaction (₹0 for debit value below ₹100) lower | ₹15.34 + GST per debit transaction (per ISIN per day) |
Brokerage charges
How Groww and Motilal Oswal Financial Services Limited (MOFSL) price each trading segment, per executed order.
| Parameter | Groww | Motilal Oswal Financial Services Limited (MOFSL) |
|---|---|---|
| Equity Delivery | ₹20 or 0.1% per executed order (whichever is lower, minimum ₹5) | 0.20% |
| Equity Intraday | ₹20 or 0.1% per executed order (whichever is lower, minimum ₹5) | 0.02% |
| Equity Futures | ₹20 per executed order | 0.02% |
| Equity Options | ₹20 per executed order | ₹20 per lot |
| Currency F&O | ₹20 per executed order | ₹20 per lot |
| Commodity F&O | ₹20 per executed order | ₹20 per lot |
| Call & Trade | Not Available | ₹20 per executed order |
Transaction charges (exchange turnover)
Exchange turnover and clearing charges passed through by Groww and Motilal Oswal Financial Services Limited (MOFSL), per segment.
| Parameter | Groww | Motilal Oswal Financial Services Limited (MOFSL) |
|---|---|---|
| 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% | BSE: 0.00% | NSE: ₹1.73 per lakh (0.00173%) |
| Equity Options | NSE: 0.03503% (on premium) | BSE: 0.0325% (on premium) | NSE: ₹35.03 per lakh of premium (0.03503%) |
| Currency Futures | NSE: 0.00012% | BSE: 0.00005% | NSE: ₹0.35 per lakh (0.00035%) |
| Currency Options | NSE: 0.0325% (on premium) | BSE: 0.001% (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 Groww and Motilal Oswal Financial Services Limited (MOFSL) — AMC, debit transactions, pledging and remat.
| Parameter | Groww | Motilal Oswal Financial Services Limited (MOFSL) |
|---|---|---|
| Demat Account Opening | ₹0 (Free) | ₹0 |
| Transaction Charges (Sell) | Depository ₹3.50 (Male) / ₹3.25 (Female) + Groww ₹16.50 per debit transaction (₹0 for debit value below ₹100) | — |
| Transaction Charges Demat Account Opening ₹0 (Free) Transaction Charges (Sell) Depository ₹3.50 (Male) / ₹3.25 (Female) + Groww ₹16.50 per debit transaction (₹0 for debit value below ₹100) Annual Maintenance Charges (AMC) | ₹0 | — |
| Pledge / Unpledge | ₹20 per ISIN | — |
| Remat | ₹150 per certificate + courier charges | — |
| Failed Demat Transaction | ₹50 per ISIN | — |
| Annual Maintenance Charges (AMC) | — | ₹0 for the 1st year (selected plans), thereafter as per applicable tariff |
| Debit Transaction Charges | — | ₹15.93 per ISIN per day (including GST) |
| Pledge / Unpledge Charges | — | ₹20 + GST per request |
| Dematerialisation (Demat) | — | ₹150 per certificate + GST |
| Rematerialisation (Remat) | — | ₹150 per certificate + GST |
| Failed Transactions | — | Nil |
Margin & leverage (MTF)
Intraday and delivery margin / leverage offered by Groww and Motilal Oswal Financial Services Limited (MOFSL).
| Parameter | Groww | Motilal Oswal Financial Services Limited (MOFSL) |
|---|---|---|
| Equity Delivery | 100% of trade value (1x) | 100% of trade value (1x) |
| Equity Intraday | As per SEBI peak margin rules (Up to 5x*) | Up to 20% of trade value* (Up to 5x*) |
| F&O (Equity/Currency/Commodity) | SPAN + Exposure Margin (1x) | SPAN + Exposure Margin (1x) |
Features & account
Account type and feature availability across Groww and Motilal Oswal Financial Services Limited (MOFSL).
| Parameter | Groww | Motilal Oswal Financial Services Limited (MOFSL) |
|---|---|---|
| 3-in-1 account | ✕ No | ✕ No |
| Automated / API trading | ✓ Yes | ✓ Yes |
| Margin Trading (MTF) | ✓ Yes | ✓ Yes |
| Trading in SME shares | ✓ Yes | ✓ Yes |
| Trading platforms | Groww Web, Groww Mobile App, Groww API | MO Investor, MO Trader, Desktop EXE |
| Intraday square-off | 3:20 PM | 3:15 PM |
| Other | Stock SIP, Option Chain, Price Alerts, Advanced Charts, Watchlists, Portfolio Tracking, Margin Trading Facility (MTF), IPO Investment, Direct Mutual Funds. | 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 Groww and Motilal Oswal Financial Services Limited (MOFSL).
| Parameter | Groww | Motilal Oswal Financial Services Limited (MOFSL) |
|---|---|---|
| Trading platforms offered | Groww Web, Groww App | MO Investor, MO Trader, MO Genie |
| Number of platforms | 2 | 3 more choice |
| Platforms (summary) | Groww Web, Groww Mobile App, Groww API | MO Investor, MO Trader, Desktop EXE |
| Mobile / desktop apps | Web, Mobile | Web + Mobile, Desktop + Web |
User ratings
User ratings for Groww and Motilal Oswal Financial Services Limited (MOFSL) across the key parameters.
| Rated on | Groww | Motilal Oswal Financial Services Limited (MOFSL) |
|---|---|---|
| Fees | 4.7 better | 4.2 |
| Brokerage | 4.6 better | 4.1 |
| Trading platform | 4.8 | 4.8 |
| Customer service | 4.3 | 4.5 better |
| Research | 4.1 | 4.9 better |
| Overall | 4.6 | 4.6 |
Investment options
Which investment products Groww and Motilal Oswal Financial Services Limited (MOFSL) let you access.
| Parameter | Groww | Motilal Oswal Financial Services Limited (MOFSL) |
|---|---|---|
| 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 Groww and Motilal Oswal Financial Services Limited (MOFSL).
| Parameter | Groww | Motilal Oswal Financial Services Limited (MOFSL) |
|---|---|---|
| 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 Groww and Motilal Oswal Financial Services Limited (MOFSL).
| Parameter | Groww | Motilal Oswal Financial Services Limited (MOFSL) |
|---|---|---|
| SEBI registration | INZ000301838 | INZ000158836 |
| NSE member code | 90187 | 10225 |
| Year of incorporation | 2016 | 1987 longer track record |
| Net worth | Not Publicly Disclosed | ₹8,000+ Crore* |
| Exchange memberships | NSE · BSE · MCX | NSE · BSE · MCX |
| Latest complaint ratio | 0.009% | 0.0001% fewer complaints |
Complaints record
Exchange complaint data for Groww and Motilal Oswal Financial Services Limited (MOFSL) — the ratio matters more than the raw count.
| Parameter | Groww | Motilal Oswal Financial Services Limited (MOFSL) |
|---|---|---|
| Latest financial year | 2023–24 | 2025–26 |
| Exchange | NSE | NSE |
| Active clients | 95,38,609 larger base | 8,98,736 |
| Complaints filed | 834 | 1 |
| Complaint ratio | 0.009% | 0.0001% fewer complaints |
Pros & cons
The main advantages and drawbacks of each broker.
Groww
▲ Pros
- ✓ Simple and beginner-friendly trading platform.
- ✓ Fully digital and paperless account opening process.
- ✓ Supports investment in stocks, mutual funds, ETFs, IPOs and F&O.
- ✓ Available on both web and mobile platforms.
- ✓ Transparent brokerage structure.
- ✓ Easy portfolio tracking and fund management.
- ✓ Supports multiple exchanges including NSE, BSE and MCX.
- ✓ Secure online investment platform with modern trading tools.
▼ Cons
- ✕ Limited physical branch network.
- ✕ Research and advisory services are comparatively limited.
- ✕ Call & Trade facility is not available.
- ✕ Advanced trading features may be fewer than some full-service brokers.
- ✕ Customer support response time may vary during peak market hours.
- ✕ Margin funding and premium research offerings are limited compared to some competitors.
Motilal Oswal Financial Services Limited (MOFSL)
▲ 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.
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