Kotak Neo 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.
Kotak Neo
VS
Motilal Oswal Financial Services Limited (MOFSL)
Kotak Neo vs Motilal Oswal Financial Services Limited (MOFSL) — quick verdict
Choose Kotak Neo if
You want research and offline support
One of India's oldest stock broking companies, offering full-fledged investment services across asset classes through a single-login platform.
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
Kotak Neo is a full-service broker incorporated in 1994; Motilal Oswal Financial Services Limited (MOFSL) is a full-service broker incorporated in 1987.
| Parameter | Kotak Neo | Motilal Oswal Financial Services Limited (MOFSL) |
|---|---|---|
| Type of broker | Full-Service Broker | Full-Service Broker |
| Exchange membership | NSE · BSE · MCX | NSE · BSE · MCX |
| Year of incorporation | 1994 | 1987 older |
| Number of branches | 1,500+ Branches & Customer Touchpoints | 2,500+ wider |
| Active clients | 15+ Lakh (Approx.) larger | 11,00,000+ |
Charges & AMC
Account-opening and maintenance charges for Kotak Neo and Motilal Oswal Financial Services Limited (MOFSL) compared side by side.
| Parameter | Kotak Neo | Motilal Oswal Financial Services Limited (MOFSL) |
|---|---|---|
| Trading a/c opening | ₹0 (Online) | ₹0 (Online) |
| Trading a/c AMC | ₹0 | ₹0 |
| Demat a/c opening | ₹0 | ₹0 |
| Demat a/c AMC | As per applicable tariff plan | ₹0 (1st Year), then as per applicable plan |
| DP charges (per ISIN, sell) | ₹13.5 + GST per debit lower | ₹15.34 + GST per debit transaction (per ISIN per day) |
Brokerage charges
How Kotak Neo and Motilal Oswal Financial Services Limited (MOFSL) price each trading segment, per executed order.
| Parameter | Kotak Neo | Motilal Oswal Financial Services Limited (MOFSL) |
|---|---|---|
| Equity Delivery | ₹0 (Free) | 0.20% |
| Equity Intraday | ₹20 or 0.03% (lower) | 0.02% |
| Equity Futures | ₹20 or 0.03% (lower) | 0.02% |
| Equity Options | ₹20/order | ₹20 per lot |
| Currency F&O | ₹20 or 0.03% (lower) | ₹20 per lot |
| Commodity F&O | ₹20 or 0.03% (lower) | ₹20 per lot |
| Call & Trade | +₹50/order | ₹20 per executed order |
Transaction charges (exchange turnover)
Exchange turnover and clearing charges passed through by Kotak Neo and Motilal Oswal Financial Services Limited (MOFSL), per segment.
| Parameter | Kotak Neo | Motilal Oswal Financial Services Limited (MOFSL) |
|---|---|---|
| Equity Delivery | NSE ₹297 per Crore (0.00297%) | BSE ₹297 per Crore (0.00297%) | NSE: ₹2.97 per lakh (0.00297%) • BSE: As per exchange |
| Equity Intraday | NSE ₹297 per Crore (0.00297%) | BSE ₹297 per Crore (0.00297%) | NSE: ₹2.97 per lakh (0.00297%) • BSE: As per exchange |
| Equity Futures | NSE ₹173 per Crore (0.00173%) | BSE ₹173 per Crore (0.00173%) | NSE: ₹1.73 per lakh (0.00173%) |
| Equity Options | NSE ₹3,503 per Crore of premium (0.03503%) | BSE ₹3,250 per Crore of premium (0.0325%) | NSE: ₹35.03 per lakh of premium (0.03503%) |
| Currency Futures | NSE ₹35 per Crore (0.00035%) | BSE ₹35 per Crore (0.00035%) | NSE: ₹0.35 per lakh (0.00035%) |
| Currency Options | NSE ₹3,100 per Crore of premium (0.0311%) | BSE ₹1,000 per Crore of premium (0.01%) | NSE: ₹3.15 per lakh of premium (0.00315%) |
| Commodity Futures | MCX ₹260 per Crore (0.00260%) | MCX: As per exchange |
| Commodity Options | MCX ₹5,000 per Crore of premium (0.05%) | MCX: As per exchange |
Demat & DP charges
Depository (demat) charges for Kotak Neo and Motilal Oswal Financial Services Limited (MOFSL) — AMC, debit transactions, pledging and remat.
| Parameter | Kotak Neo | Motilal Oswal Financial Services Limited (MOFSL) |
|---|---|---|
| Demat Opening | ₹0 | — |
| Transaction Charges | ₹13.5 + GST | — |
| AMC | ₹300 + GST | — |
| Pledge | ₹30 + GST | — |
| Remat | ₹150 + GST | — |
| Nil | Nil | — |
| Demat Account Opening | — | ₹0 |
| 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 Kotak Neo and Motilal Oswal Financial Services Limited (MOFSL).
| Parameter | Kotak Neo | 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 norms (Up to 5x (eligible stocks)) | Up to 20% of trade value* (Up to 5x*) |
| F&O (Eq/Curr/Comm) | SPAN + Exposure Margin (1x) | SPAN + Exposure Margin (1x) |
Features & account
Account type and feature availability across Kotak Neo and Motilal Oswal Financial Services Limited (MOFSL).
| Parameter | Kotak Neo | Motilal Oswal Financial Services Limited (MOFSL) |
|---|---|---|
| 3-in-1 account | ✓ Yes better | ✕ No |
| Automated / API trading | ✓ Yes | ✓ Yes |
| Margin Trading (MTF) | ✓ Yes | ✓ Yes |
| Trading in SME shares | ✓ Yes | ✓ Yes |
| Trading platforms | Kotak Neo Web, Kotak Neo App, Kotak Stock Trader (Nest), Kotak Neo API | MO Investor, MO Trader, Desktop EXE |
| Intraday square-off | 3:15 PM | 3:15 PM |
| Other | Advanced charting, basket orders, option chain, Trading API, research reports, Smart Orders, eMargin, MTF, IPO and mutual fund investments. | 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 Kotak Neo and Motilal Oswal Financial Services Limited (MOFSL).
| Parameter | Kotak Neo | Motilal Oswal Financial Services Limited (MOFSL) |
|---|---|---|
| Trading platforms offered | Kotak Neo Web, Kotak Neo App, Kotak Stock Trader (Nest), Kotak Neo API | MO Investor, MO Trader, MO Genie |
| Number of platforms | 4 more choice | 3 |
| Platforms (summary) | Kotak Neo Web, Kotak Neo App, Kotak Stock Trader (Nest), Kotak Neo API | MO Investor, MO Trader, Desktop EXE |
| Mobile / desktop apps | Web, Android & iOS, Desktop, API | Web + Mobile, Desktop + Web |
User ratings
User ratings for Kotak Neo and Motilal Oswal Financial Services Limited (MOFSL) across the key parameters.
| Rated on | Kotak Neo | Motilal Oswal Financial Services Limited (MOFSL) |
|---|---|---|
| Fees | 4.4 better | 4.2 |
| Brokerage | 4.5 better | 4.1 |
| Trading platform | 4.7 | 4.8 better |
| Customer service | 4.3 | 4.5 better |
| Research | 4.4 | 4.9 better |
| Overall | 4.4 | 4.6 better |
Investment options
Which investment products Kotak Neo and Motilal Oswal Financial Services Limited (MOFSL) let you access.
| Parameter | Kotak Neo | 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 Kotak Neo and Motilal Oswal Financial Services Limited (MOFSL).
| Parameter | Kotak Neo | 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 Kotak Neo and Motilal Oswal Financial Services Limited (MOFSL).
| Parameter | Kotak Neo | Motilal Oswal Financial Services Limited (MOFSL) |
|---|---|---|
| SEBI registration | INZ000200137 | INZ000158836 |
| NSE member code | 08081 | 10225 |
| Year of incorporation | 1994 | 1987 longer track record |
| Net worth | ₹5,000+ Crore (Approx.) | ₹8,000+ Crore* stronger |
| Exchange memberships | NSE · BSE · MCX | NSE · BSE · MCX |
| Latest complaint ratio | 0.034% | 0.0001% fewer complaints |
Complaints record
Exchange complaint data for Kotak Neo and Motilal Oswal Financial Services Limited (MOFSL) — the ratio matters more than the raw count.
| Parameter | Kotak Neo | Motilal Oswal Financial Services Limited (MOFSL) |
|---|---|---|
| Latest financial year | 2025-26 | 2025–26 |
| Exchange | NSE | NSE |
| Active clients | 15,40,000+ larger base | 8,98,736 |
| Complaints filed | 520 | 1 |
| Complaint ratio | 0.034% | 0.0001% fewer complaints |
Pros & cons
The main advantages and drawbacks of each broker.
Kotak Neo
▲ Pros
- ✓ Trusted full-service broker backed by Kotak Mahindra Bank.
- ✓ Low brokerage plans for active traders.
- ✓ Advanced Kotak Neo web and mobile trading platforms.
- ✓ Investment in Stocks, IPOs, Mutual Funds, ETFs and Bonds from one account.
- ✓ Research reports, market insights and investment recommendations.
- ✓ API support for algo trading.
- ✓ Easy online account opening with Aadhaar-based eKYC.
- ✓ Multiple order types with advanced charting tools.
▼ Cons
- ✕ Demat AMC may apply depending on the selected plan.
- ✕ Call & Trade service is chargeable.
- ✕ Margin Trading Facility (MTF) is available only for eligible stocks.
- ✕ Some advanced features are available only under specific plans.
- ✕ Research and advisory offerings may vary across customer plans.
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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