Charges at a glance
About Motilal Oswal
Motilal Oswal Financial Services Ltd. (MOFSL) is a full-service broker founded in 1987 and headquartered in Mumbai, with a client base of over 50 lakh investors. It offers demat and trading accounts registered with SEBI, NSE, BSE and MCX, backed by an in-house research team that has published tens of thousands of reports across sectors.
The platform is built around research and advisory rather than rock-bottom pricing: it charges a percentage-based brokerage on equity delivery and intraday/futures, flat per-lot pricing on options, and layers on margin trading facility (MTF), portfolio management services (PMS) and curated stock baskets for investors who want guidance alongside execution.
Platforms
MO Riise
Flagship mobile app (formerly MO Investor) for stocks, mutual funds, IPOs, US stocks and portfolio tracking with expert research built in.
MO Trader
Dedicated web and desktop trading terminal with advanced charting, option chain and basket orders for active traders.
Research 360
In-house research app with stock recommendations, sector reports and model portfolios from Motilal Oswal's advisory team.
Regulatory & statutory charges
Besides brokerage, every trade attracts STT/CTT, exchange transaction charges, SEBI charges, GST and stamp duty. These are fixed by the government/exchanges and are the same across brokers.
Calculate the exact charges for any trade upfront using our brokerage calculator.
Equity
| Charge | Equity delivery | Equity intraday | F&O – Futures | F&O – Options |
|---|---|---|---|---|
| Brokerage | 0.20% of turnover | 0.02% of turnover per order | 0.02% of turnover per order | Flat ₹20 per lot |
| STT/CTT | 0.1% on buy & sell | 0.025% on sell side | 0.05% on sell side | 0.15% on sell side (premium) |
| Transaction charges | NSE 0.00307% / BSE ~0.00375% | NSE 0.00307% / BSE ~0.00375% | NSE 0.00183% / BSE 0% | NSE 0.03553% / BSE 0.005–0.0325% (on premium) |
| SEBI charges | ₹10 / crore | ₹10 / crore | ₹10 / crore | ₹10 / crore |
| Stamp duty | 0.015% (buy side) | 0.003% (buy side) | 0.002% (buy side) | 0.003% (buy side) |
| GST | 18% on (brokerage + SEBI charges + transaction charges) | |||
Currency
| Charge | Currency futures | Currency options |
|---|---|---|
| Brokerage | 0.02% of turnover per order | Flat ₹20 per lot |
| STT/CTT | No STT | No STT |
| Transaction charges | NSE 0.00035% / BSE 0.00045% | NSE 0.0311% / BSE 0.001% |
| SEBI charges | ₹10 / crore | ₹10 / crore |
| Stamp duty | 0.0001% (buy side) | 0.003% (on premium) |
| GST | 18% on (brokerage + SEBI charges + transaction charges) | |
Commodity
| Charge | Commodity futures | Commodity options |
|---|---|---|
| Brokerage | 0.02% of turnover per order | Flat ₹200 per lot |
| STT/CTT | 0.01% on sell side (non-agri) | 0.05% on sell side |
| Transaction charges | MCX 0.0021% / NCDEX 0.0058% | MCX 0.0418% |
| SEBI charges | ₹10 / crore | ₹10 / crore |
| Stamp duty | 0.002% (buy side) | 0.003% (on premium) |
| GST | 18% on (brokerage + SEBI charges + transaction charges) | |
Mutual funds
- Direct mutual fund investments carry ₹0 commission; regular plans carry the fund's standard trail commission built into the NAV.
- Stamp duty of 0.005% applies on the purchase (buy) side of mutual fund units, as mandated by the government.
- STT of 0.001% applies only on redemption (sell) of equity-oriented mutual fund units.
Charges for account opening
| Type of account | Charges |
|---|---|
| Individual account (resident) | free |
| Minor account | free |
| NRI account | free (AMC ₹199/yr + GST applies) |
| HUF, Partnership & Corporate accounts | free (AMC ₹199/yr + GST applies) |
Demat AMC (Annual Maintenance Charge)
Motilal Oswal doesn't tier AMC by account type — it's a flat rate based on how long the account has been open:
By account age
| Account age | AMC |
|---|---|
| 1st year | free (₹0) |
| 2nd year onwards | ₹199/year + GST |
Applies uniformly across individual, HUF, NRI and corporate accounts — there's no tiering by portfolio value or trading activity.
Penalties & other charges
Charges that apply only in specific situations — good to know upfront so nothing catches you off guard.
Penalties
Other charges
Pros & cons
What users like
- Nearly four decades of track record and deep in-house research coverage
- Free account opening and AMC waived for the first year
- Dedicated relationship/advisory support alongside self-directed trading
- Broad product shelf — PMS, stock baskets, US stocks and MTF up to 4x
What to watch for
- Percentage-based brokerage (0.20% delivery) is costlier than flat-fee discount brokers for large trades
- DP charge of ₹13.6 per company sold is on the higher side
- Customer service and advisory quality draw mixed reviews from users
Read what customers say about Motilal Oswal
Overall rating 1.0/5 based on 1 customer reviews — or share your own experience.