Zerodha
India's largest stockbroker by client base
4.6/ 5
Best for: Cost-conscious DIY investors who mainly buy-and-hold stocks or trade F&O occasionally.
Compare Zerodha with others →Broker review
Motilal Oswal review
Research-backed full-service broking since 1987
4.0/ 5App: 4.2/5
- Since 1987
- Delivery 0.20%
- AMC Free for 1st year
Open an account with Motilal OswalCompare Motilal Oswal →SEBI-registered stockbroker | Member: NSE, BSE, MCX, NCDEX
Reviewed by LetsInvest Research DeskUpdated 14 Sept 2026Pricing verified 14 Sept 2026How we test
Fees & pricing3.6
Trading platforms4.1
Customer support4.2
Research & education4.5
Ease of opening4.0
Overview
Listed full-service broker pairing percentage brokerage with deep in-house equity research and advisory, free account opening and a free first-year AMC.
Best for: Long-term investors wanting research plus a legacy broker relationship.
Pros & cons
What we like
- Strong in-house research and advisory
- Free account opening plus first-year AMC free
- Multi-segment coverage under one account
Watch out for
- 0.20% delivery costs more than discount rivals
- Post-year-1 AMC and DP need tariff confirmation
- Pricing pages lean on promos over a clean tariff
Fees & charges
Account charges
- Account openingOne-time charge to open your demat + trading account. Many discount brokers have made this free.
- ₹0 (free)✓ Verified 14/9/2026Source: Motilal Oswal charges guide · Static-verified
- Annual maintenance (AMC)Yearly demat maintenance, charged by the broker (separate from CDSL/NSDL custodian fees). Often free for the first year.
- Free for 1st year✓ Verified 14/9/2026Source: Motilal Oswal charges guide · Static-verified
Equity
- Equity deliveryBrokerage when you buy shares and hold them overnight or longer. This is the charge long-term investors should minimise.
- 0.20%✓ Verified 14/9/2026Source: Motilal Oswal charges guide · Static-verified
- IntradayBrokerage on same-day buy-sell trades. Percentage caps (e.g. 0.03%) protect small orders from the flat fee.
- 0.02%✓ Verified 14/9/2026Source: Motilal Oswal charges guide · Static-verified
Derivatives (F&O)
- OptionsPer-order charge for options buying/selling. Excludes STT, exchange and SEBI charges, which apply equally everywhere.
- ₹20 per lot✓ Verified 14/9/2026Source: Motilal Oswal charges guide · Static-verified
- FuturesPer-order charge for futures trades. Same statutory extras as options apply on top.
- 0.02%✓ Verified 14/9/2026Source: Motilal Oswal charges guide · Static-verified
Source & freshness
- Source
- Each broker's official pricing page (per-row source links above)
- Timeliness
- Static-verified
- Verified
- 14/9/2026
- Method
- reported
- Note
- Re-checked against official pages; unverified rows show Confirming. Never a live tick.
Sources: official broker pricing pages. Figures marked “Confirming” are being re-verified — always confirm before trading.
What you can invest in
- Stocks (delivery)
- ✓ Yes
- Intraday
- ✓ Yes
- Futures & options
- ✓ Yes
- Mutual funds
- ✓ Yes
- IPOUPI-based IPO applications
- ✓ Yes
- US stocks
- —
- Trading APITrade API for algos
- ✓ Yes
Platforms & features
platforms
- Mobile app✓ · MO Investor + MO Trader (Android + iOS)
investing
- IPO investing✓ · UPI-based IPO applications
trading
- Trading API✓ · Trade API for algos
research
- Research & advisory✓ · Award-winning in-house research
support
- Customer support✓ · Phone + email + branches + RM
Support & company
Customer support
Phone + email + branches + RM
Company facts
- Founded
- 1987
- Regulation
- SEBI-registered stockbroker | Member: NSE, BSE, MCX, NCDEX
A good fit if you value research over cheap trades; active traders should compare all-in cost with flat-fee plans.
How to open a Motilal Oswal account
Start your application
Open the Motilal Oswal signup with your mobile number and email — it takes about 10 minutes.
Complete e-KYC
Verify with PAN, Aadhaar-based OTP, a live selfie and your bank proof (cancelled cheque or statement).
E-sign documents
Digitally sign the account-opening form and nomination details via Aadhaar e-sign.
Get your client ID
Activation usually takes 24–48 hours. Your login credentials arrive by email and SMS.
Where does Motilal Oswal rank for your style?
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Brokerage history
No price changes recorded since tracking began — current fees verified 14/9/2026. How monthly tracking works →
Affiliate disclosure: LetsInvest earns a commission if you open an account via links on this page — at no extra cost to you. Rankings are editorial and never sold. Read how we make money and our methodology.
How we research. Every fee on this site carries a source and a verification date. Data is re-checked against official broker pages; read our editorial methodology. LetsInvest is a research publication, not a financial adviser — see our terms.
Open an account with Motilal Oswal
Official site — pricing varies by plan, verify before acting.