Motilal Oswal vs Paytm Money
A full side-by-side comparison of brokerage charges, demat AMC, margin, platforms, features and user ratings — updated for 2026.
Motilal Oswal
VS
Paytm Money
Motilal Oswal vs Paytm Money — quick verdict
Choose Motilal Oswal if
You want research and offline support
Full-service stock broker offering research-backed investing, wealth management, and advanced trading platforms.
Choose Paytm Money if
You want low-cost, self-directed trading
Invest in stocks, F&O, mutual funds and IPOs with zero lifetime AMC and a technology-first trading platform.
Company overview
Motilal Oswal is a full-service broker incorporated in 1987; Paytm Money is a discount broker incorporated in 2017.
| Parameter | Motilal Oswal | Paytm Money |
|---|---|---|
| Type of broker | Full-Service Broker | Discount Broker |
| Exchange membership | NSE · BSE · MCX | NSE · BSE · MCX · NCDEX · MSEI |
| Year of incorporation | 1987 older | 2017 |
| Number of branches | 2,500+ wider | 0 |
| Active clients | 11,00,000+ larger | 21 Million+ Users* |
Charges & AMC
Account-opening and maintenance charges for Motilal Oswal and Paytm Money compared side by side.
| Parameter | Motilal Oswal | Paytm Money |
|---|---|---|
| Trading a/c opening | ₹0 (Online) | ₹0 (Free) |
| Trading a/c AMC | ₹0 | ₹0 |
| Demat a/c opening | ₹0 | ₹0 (Free) |
| Demat a/c AMC | ₹0 (1st Year), then as per applicable plan | ₹0 (Lifetime Free) lower |
| DP charges (per ISIN, sell) | ₹15.34 + GST per debit transaction (per ISIN per day) lower | ₹20 per debit transaction |
Brokerage charges
How Motilal Oswal and Paytm Money price each trading segment, per executed order.
| Parameter | Motilal Oswal | Paytm Money |
|---|---|---|
| Equity Delivery | 0.20% | ₹20 per executed order |
| Equity Intraday | 0.02% | ₹20 per executed order |
| Equity Futures | 0.02% | ₹20 per executed order or 0.02% (whichever is lower) |
| Equity Options | ₹20 per lot | ₹20 per executed order |
| Currency F&O | ₹20 per lot | ₹20 per executed order |
| Commodity F&O | ₹20 per lot | ₹20 per executed order |
| Call & Trade | ₹20 per executed order | ₹50 per executed order |
Transaction charges (exchange turnover)
Exchange turnover and clearing charges passed through by Motilal Oswal and Paytm Money, per segment.
| Parameter | Motilal Oswal | Paytm Money |
|---|---|---|
| Equity Delivery | NSE: ₹2.97 per lakh (0.00297%) • BSE: As per exchange | NSE: 0.00297% • BSE: 0.00375% |
| Equity Intraday | NSE: ₹2.97 per lakh (0.00297%) • BSE: As per exchange | NSE: 0.00297% • BSE: 0.00375% |
| Equity Futures | NSE: ₹1.73 per lakh (0.00173%) | NSE: 0.00173% |
| Equity Options | NSE: ₹35.03 per lakh of premium (0.03503%) | NSE: 0.03503% (on premium) |
| Currency Futures | NSE: ₹0.35 per lakh (0.00035%) | NSE: 0.00035% |
| Currency Options | NSE: ₹3.15 per lakh of premium (0.00315%) | NSE: 0.0311% (on premium) |
| Commodity Futures | MCX: As per exchange | MCX: 0.00210% |
| Commodity Options | MCX: As per exchange | MCX: 0.04180% (on premium) |
Demat & DP charges
Depository (demat) charges for Motilal Oswal and Paytm Money — AMC, debit transactions, pledging and remat.
| Parameter | Motilal Oswal | Paytm Money |
|---|---|---|
| Demat Account Opening | ₹0 | ₹0 |
| Annual Maintenance Charges (AMC) | ₹0 for the 1st year (selected plans), thereafter as per applicable tariff | ₹0 (Lifetime Free) |
| Debit Transaction Charges | ₹15.93 per ISIN per day (including GST) | ₹20 per sell transaction |
| Pledge / Unpledge Charges | ₹20 + GST per request | ₹20 per transaction (Margin pledge/unpledge as per current tariff) |
| Dematerialisation (Demat) | ₹150 per certificate + GST | ₹250 per certificate / per scheme |
| Rematerialisation (Remat) | ₹150 per certificate + GST | ₹250 per certificate / per scheme |
| Failed Transactions | Nil | Nil |
Margin & leverage (MTF)
Intraday and delivery margin / leverage offered by Motilal Oswal and Paytm Money.
| Parameter | Motilal Oswal | Paytm Money |
|---|---|---|
| Equity Delivery | 100% of trade value (1x) | 100% of trade value (1x) |
| Equity Intraday | Up to 20% of trade value* (Up to 5x*) | VAR + ELM Margin (Up to 5x) |
| F&O (Equity/Currency/Commodity) | SPAN + Exposure Margin (1x) | SPAN + Exposure Margin (As per available margin) |
| Equity Options (Buy) | — | Premium Value (Not Applicable) |
| Equity Options (Sell) | — | 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 Motilal Oswal and Paytm Money.
| Parameter | Motilal Oswal | Paytm Money |
|---|---|---|
| 3-in-1 account | ✕ No | ✕ No |
| Automated / API trading | ✓ Yes | ✓ Yes |
| Margin Trading (MTF) | ✓ Yes | ✓ Yes |
| Trading in SME shares | ✓ Yes | ✓ Yes |
| Trading platforms | MO Investor, MO Trader, Desktop EXE | Paytm Money Web, Paytm Money App |
| Intraday square-off | 3:15 PM | 3:15 PM |
| Other | Option Strategy Builder, TradeGuide Signal, Smart Stock Baskets, Research360, Price Alerts, Stock SIP, MTF (Pay Later), Advanced Charting | TradingView Charts, Basket Orders, Option Chain, Stock SIP, Price Alerts, ETF Investing, NPS, Margin Trading Facility (MTF), eDIS |
Trading platforms & apps
Trading terminals, web platforms and mobile apps offered by Motilal Oswal and Paytm Money.
| Parameter | Motilal Oswal | Paytm Money |
|---|---|---|
| Trading platforms offered | MO Investor, MO Trader, MO Genie | Paytm Money Web, Paytm Money App, TradingView Charts |
| Number of platforms | 3 | 3 |
| Platforms (summary) | MO Investor, MO Trader, Desktop EXE | Paytm Money Web, Paytm Money App |
| Mobile / desktop apps | Web + Mobile, Desktop + Web | Web, Mobile, Integrated Charting |
User ratings
User ratings for Motilal Oswal and Paytm Money across the key parameters.
| Rated on | Motilal Oswal | Paytm Money |
|---|---|---|
| Fees | 4.2 | 4.8 better |
| Brokerage | 4.1 | 4.8 better |
| Trading platform | 4.8 better | 4.5 |
| Customer service | 4.5 better | 4.1 |
| Research | 4.9 better | 3.8 |
| Overall | 4.6 better | 4.4 |
Investment options
Which investment products Motilal Oswal and Paytm Money let you access.
| Parameter | Motilal Oswal | Paytm Money |
|---|---|---|
| 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 Motilal Oswal and Paytm Money.
| Parameter | Motilal Oswal | Paytm Money |
|---|---|---|
| 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 Motilal Oswal and Paytm Money.
| Parameter | Motilal Oswal | Paytm Money |
|---|---|---|
| SEBI registration | INZ000158836 | INZ000240532 |
| NSE member code | 10225 | 90165 |
| Year of incorporation | 1987 longer track record | 2017 |
| Net worth | ₹8,000+ Crore* stronger | ₹366.98 Cr |
| Exchange memberships | NSE · BSE · MCX | NSE · BSE · MCX · NCDEX · MSEI |
| Latest complaint ratio | 0.0001% fewer complaints | 0.002% |
Complaints record
Exchange complaint data for Motilal Oswal and Paytm Money — the ratio matters more than the raw count.
| Parameter | Motilal Oswal | Paytm Money |
|---|---|---|
| Latest financial year | 2025–26 | 2025–26 |
| Exchange | NSE | NSE |
| Active clients | 8,98,736 larger base | 765,696 |
| Complaints filed | 1 | 14 |
| Complaint ratio | 0.0001% fewer complaints | 0.002% |
Pros & cons
The main advantages and drawbacks of each broker.
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.
Paytm Money
▲ Pros
- ✓ Zero lifetime Demat AMC.
- ✓ Competitive flat brokerage across trading segments.
- ✓ Fully digital and paperless account opening.
- ✓ Supports stocks, F&O, commodities, IPOs, mutual funds, ETFs, bonds, and NPS.
- ✓ Modern web and mobile trading platforms with advanced charting.
- ✓ GTT orders, Basket Orders, Stock SIP, and Margin Trading Facility available.
▼ Cons
- ✕ Limited offline branch network.
- ✕ Research and advisory services are not as comprehensive as full-service brokers.
- ✕ Call & Trade service is chargeable.
- ✕ No dedicated desktop trading software.
- ✕ Customer support response time may vary during peak market hours.
Explore more comparisons
Compare 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 Mirae Asset Sharekhan Motilal Oswal vs Axis Direct 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 LimitedCompare Paytm Money with
Paytm Money vs Zerodha Paytm Money vs Angel One Paytm Money vs Upstox Paytm Money vs Groww Paytm Money vs ICICI Direct Paytm Money vs Kotak Neo Paytm Money vs HDFC Securities Paytm Money vs SBI Securities Paytm Money vs Mirae Asset Sharekhan Paytm Money vs Axis Direct Paytm Money vs 5paisa Paytm Money vs Choice Broking Paytm Money vs m.Stock Paytm Money vs Sahi Paytm Money vs FYERS Securities Paytm Money vs SMC Global Paytm Money vs Anand Rathi Paytm Money 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.