Motilal Oswal Review 2026
Full-service stock broker offering research-backed investing, wealth management, and advanced trading platforms.
About Motilal Oswal
Founded in 1987, Motilal Oswal Financial Services is one of India's leading full-service stockbroking and financial services companies. Headquartered in Mumbai, the company offers a comprehensive range of investment products and wealth management solutions for retail, HNI, and institutional investors. It is registered with SEBI and holds memberships with major exchanges, including NSE, BSE, MCX, and NCDEX, enabling clients to trade across multiple asset classes from a single platform.
Over the years, Motilal Oswal has expanded beyond traditional stockbroking into diversified financial services. Its offerings include equity and derivative trading, commodity and currency trading, mutual funds, IPO investments, ETFs, bonds, fixed-income products, Portfolio Management Services (PMS), Alternative Investment Funds (AIFs), wealth management, investment banking, and home loans. The company is widely recognized for its in-house equity research, investment advisory services, and technology-driven trading platforms such as MO Investor and MO Trader.
Motilal Oswal serves millions of customers across India through its network of branches, franchise partners, relationship managers, and digital platforms. The broker focuses on combining research-backed investment insights with modern trading technology, making it suitable for both active traders and long-term investors. With more than three decades of experience in the Indian capital markets, the company has established itself as one of the country's prominent full-service brokerage firms.
| Broker type | Full-Service Broker |
|---|---|
| SEBI Registration | INZ000158836 |
| NSE Member code | 10225 |
| Net worth | ₹8,000+ Crore* |
| Year of incorporation | 1987 |
| Exchange membership | NSE · BSE · MCX |
| Account opening charge | ₹0 (Online) |
| Demat AMC | ₹0 (1st Year), then as per applicable plan |
Motilal Oswal brokerage charges
| Segment | Brokerage |
|---|---|
| Equity Delivery | 0.20% |
| Equity Intraday | 0.02% |
| Equity Futures | 0.02% |
| Equity Options | ₹20 per lot |
| Currency F&O | ₹20 per lot |
| Commodity F&O | ₹20 per lot |
Motilal Oswal trading platforms
MO Investor Web + Mobile
All-in-one investment platform for trading in equities, derivatives, commodities, currencies, mutual funds, IPOs, ETFs and other investment products.
MO Trader Desktop + Web
Advanced trading platform designed for active traders with real-time market watch, option chain, advanced charting, technical analysis and multiple order types.
MO Genie Web + Mobile
AI-powered investment recommendation platform that provides stock ideas, portfolio insights and research-backed recommendations.
Motilal Oswal pros & cons
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.
Motilal Oswal margin & leverage
| Segment | Margin | Leverage |
|---|---|---|
| Equity Delivery | 100% of trade value | 1x |
| Equity Intraday | Up to 20% of trade value* | Up to 5x* |
| F&O (Equity/Currency/Commodity) | SPAN + Exposure Margin | 1x |
Motilal Oswal ratings & reviews
How to open a Motilal Oswal account
Visit the official Motilal Oswal website or download the MO Investor mobile app.
Enter your mobile number and email address, then verify them using the OTP sent to your registered contact details.
Complete the online KYC process by providing your PAN, Aadhaar, bank account details, and uploading the required documents. Finish the application using Aadhaar-based eSign.
Once your application is verified and approved, your Trading and Demat account will be activated. You can then log in to the MO Investor or MO Trader platform and start investing and trading.
Motilal Oswal complaints (exchange data)
Complaints filed against Motilal Oswal at the exchanges, and the ratio per active client — a proxy for service quality.
| Exchange | FY | Clients | Complaints | Ratio |
|---|---|---|---|---|
| NSE | 2025–26 | 8,98,736 | 1 | 0.0001% |
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