Is Motilal Oswal a Discount Broker?

Check All Frequently Asked Questions

While opening a demat account, people often prefer to shake hands with a discount broker for saving brokerage and charges. Are you thinking of opening your demat account with Motilal Oswal? And want to know is Motilal Oswal a discount broker or a full-service broker.

First of all, regardless of the category that it falls in, Motilal Oswal is one of the most worthy stock brokers in India. With a long-standing history of providing broking and financial services, Motilal Oswal has established itself as a reliable and reputed broker.

Furthermore, the financial and support services as well as the trading apps it provides are admired by many traders and investors.

Now to get to the answer of whether Motilal Oswal is a discount or full-service broker, one needs to check for the basic differences between the two types. The primary difference lies in the product and services the broker offer and the brokerage fees imposed for trading in different segment.

So, let’s get to the detail and know what type of broker Motilal Oswal is.

Motilal Oswal Products and Services

The broker is popular for the top-notch research and advisory services it provides to its clients. Along with that, it offers a tremendous offline presence with as many as 3463 branches across India and impressive online trading platforms.

Moreover, Motilal Oswal is registered with NSDL, CDSL, MCX as well as NCDEX. The cherry on top, it allows you to trade and invest across all the segments including equity, commodity, and currency.

To know the type of broker Motilal Oswal is, first and foremost, just create the list of products and services offered by the broker. Like any other stockbroker, it offers free demat accounts to its clients. Other than this, the broker is known for offering:

Now on the basis of the above services, one can easily interpret that Motilal Oswal is a full-service stockbroker. Now one usually thinks that these services are normally provided by any other stockbroker including a discount broker.

If you too are thinking the same, then you are not wrong but here one must note that if the discount broker provides any of the services other than the free trading app, it generally includes some charges. To confirm and get a clear answer of is Motilal Oswal a discount broker, let’s check the brokerage fees. 

Motilal Oswal Brokerage Charges

Most of beginner traders and investors differentiate the broker into full service and discount brokers by looking at their pricing and brokerage charges. When it comes to Motilal Oswal the broker charges brokerage on the basis of the turnover value of trade. 

Here is the detail of the fees charged by the broker.


Looking at Motilal Oswal brokerage plans details it is clear that the broker is a full-service stockbroker offering services at a high price.

Along with the brokerage, there are some other charges including DP charges, SEBI charges, GST, transaction tax and STT, etc. that are levied. These charges do not vary from broker to broker.


In this article we have discussed, is Motilal Oswal a discount broker or a full-service broker. Well, as you have read above, Motilal Oswal is a full-service broker.

Therefore, it provides services like research and advisory, personal executive, offline presence, and customer support. For which, the broker charges fairly high brokerage, but as it is said, things of quality do not come for free.

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