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Motilal Oswal
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Motilal Oswal
7.8
Pros
- Wide Array of Trading Platforms
- Decent Customer Service
- Range of Trading Products
- High Quality PMS
Cons
- Relatively New in Retail Broking
- Mobile App can be Improved
Motilal Oswal Securities Ltd (MOSL) was incorporated back in the year 1987 and is one of the oldest stockbroking firms in India. It is one of the leading full-service stockbrokers in India and is known for its trading applications, portfolio management services and quick customer support.
Let’s have a detailed look at the different values it provides to its respective clients and see whether this broker is relevant for you or not.
Motilal Oswal Review
Full-service stockbroker, MOSL was founded by Raamdeo Agarwal with trading and investing allowed across different financial instruments including:
- Equity
- Wealth Management
- Retail Broking and Distribution
- Institutional Broking
- Asset Management
- Investment Banking
- Home Finance
- Private Equity
- Commodity
Today, MOSL group allows its customers to trade across:
Motilal Oswal has seen organic as well as inorganic growth in the years of its existence. In 2006, it acquired a south Indian brokerage firm – Peninsular Capital Markets while in 2010, it started dealing with mutual funds after getting approval from SEBI (Securities & Exchange Board of India).
Also Read: Motilal Oswal Profits Jumps 66%
Today, the group has a presence in 2200 locations through its sub-broker and franchise network to go along with around 1 million customers. Motilal Oswal Securities has had its focus on institutional broking but off late it has been gradually pivoting towards full-service retail stock broking.
As per the latest numbers from 2019, the broker has 3,22,121 active clients (numbers from the National Stock Exchange of India or NSE) across 2000+ different geographies of the country and outside (with its NRI services).
Furthermore, as per the research strength is concerned, this full-service stockbroker has decent visibility and prominence with its team of 40+ research experts.
Raamdeo Agarwal
Motilal Oswal Trading Platforms
The full-service stockbroker has multiple trading platforms across devices offering all sorts of usable features and in this detailed Review, we will talk at length about all these softwares. Here are the details:
Motilal Oswal Desktop Application
If you are looking for super fast execution of trades, then this executable application is for you. This application needs a download from their website and then installed on your desktop or laptop before you start trading. Here are some of the screenshots of the trading platform:
Some of the features of the desktop application are:
- 1-second rate refresh
- Research reports and recommendations for days, weeks, months, years
- Trade Guide Signal to auto-generate buying and selling ideas
- Allows access to 30,000 research reports within the tool
This trading terminal is known for good speed and decent user experience but at the same time, is a little bulky as well. Thus, to attain a consistent rich trading experience, make sure your computer or laptop configuration is good enough.
Motilal Oswal Trading App
The mobile and tablet app is the need of the hour. We, as traders and investors, need real-time information on the move. Mobile apps help us with that and MOSL is also pretty much there with this app of theirs. This app provides the following features:
- Multi-asset watch lists with real-time quotes and advanced charts
- Real-time portfolio monitoring tools
- Funds transfer allowed across more than 60 banks
- Secure mobile trading experience with a one-time login feature
Here are some of the screenshots of the mobile and tablet app:
At the same time, there are few concerns with the application including:
- Relatively limited number of features
- Few cases observed where the data feed was delayed
Here are the detailed stats of the app from Google Play Store:
| Number of Installs | 100,000+ |
| Mobile App Size | 10 MB |
| Negative Ratings Percentage | 12.5% |
| Overall Review |  |
| Update Frequency Cycle | 4-6 Weeks |
Motilal Oswal Smart Watch App
A step even further than mobile and tablets app, Motilal Oswal came up with a SmartWatch app that allows you a multitude of features. Like a watch, a trader wears this device on his or her hand and gets access to all sorts of notifications.
Here are the detailed features:
- Instant information on global indices, market top losers and gainers
- Access to Portfolio across asset classes
- Check margin in both cash & commodities segment
- Position updates
Here are the screenshots of the smartwatch app:
Motilal Oswal Trade
The web portal application is a conventional trading platform for users who like to access browser-based applications. Some of the key features of the web portal include:
- Gives a quick snapshot of the account in a single view including cash balance, positions, Order Status, portfolio performance across timelines, and Market data.
- Simple order form across asset classes with integrated market depth and advanced charts
- Provides flexibility of selecting the Mutual Funds one wishes to purchase or option to choose from expert recommendations.
- Get extensive market information like gainers/losers, most active stocks, top events, news and much more across asset classes integrated with the trading portal.
Some of the screenshots of the web portal are here:
Some of the concerns with this web-based trading application include:
- User experience, especially navigation across different features can be improved
- The web application is not responsive in nature and in fact, it is pretty tough to use this application on any mobile device.
Motilal Oswal Customer Care
The full-service stockbroker provides the following communication channels to their clients:
- Phone
- Offline Branches
- Social Media
With multiple communication channels, the broker offers a reasonable quality of customer service. The turnaround time is pretty reasonable too, however, the messaging can be improved in terms of personalized communication to clients, generally done through Email or SMS. Assistance provided through online media or telephone is pretty quick and thus, takes away the importance of offline locations.
“The fundamental and technical research of Motilal Oswal encompasses around 260 companies listed on the stock market coming from 21 different industries.”
Motilal Oswal Research
The full-service stockbroker, Motilal Oswal, claims to provide more than 30,000 research reports encompassing 260 stocks covering 21 sectors through 40 types of different reports. Let’s have a look at some of those reports to get an idea about what this broker brings to the table:
Company Reports
These reports talk about the fundamentals of different companies listed on different exchanges of India. Furthermore, these reports also have mentions of various economic events happening at the state and country levels that can directly or indirectly impact specific sectors and respective company stocks. It makes sense to keep a passive check on such reports on a regular basis.
Sector Reports
As the name suggests, these types of reports talk at length about different sectors, what is happening in these sectors, different government policies, market dynamics etc. Reading these reports may help you to understand what stocks may get impacted in the short as well as in the long-term at both fundamental and technical levels.
Themantic Reports
Themantic reports are theme-based research-outputs coming from some of the latest events across industries and business domains. For example, if ‘Swachh Bharat Abhiyaan’ was introduced, these reports mentioned the different sectors that will get impacted positively or negatively due to such an initiative. Furthermore, there is a discussion on the different companies as well that would get the maximum impact.
Market Analysis Reports
These reports encompass multiple types of reports that get published on a daily basis. Such reports include (but not limited to) Market round-up, currency report etc. People looking to place intra-day trades may find these reports helpful since these can prepare the trader towards trading decisions to be taken in the day.
Motilal Oswal PMS
Motilal Oswal is known to provide one of the best services when it comes to PMS or Portfolio management services. This can be seen as a forte for this stockbroker. Some of the top reasons for such claim include:
- Strong risk management process in place.
- Regular portfolio rebalancing exercises.
- Openness to strategy changes.
- Professional fund management team.
The broker claims to serve an AUM (Assets under management) in the range of ₹10,000 Crore+ with monthly performance reports shared with the clients. Furthermore, Motilal Oswal offers PMS through its ‘Value Strategy’ that has been used by the asset management team for more than 14 years now.
Motilal Oswal Charges
There are multiple types of charges that you, as a client, as supposed to pay. This includes Account opening, maintenance charges, brokerage, transaction charges, stamp duty, taxes etc.
Motilal Oswal Call and Trade
Call and Trade Platform is suitable when traders or investors don’t have online access. All its clients enjoy Call and Trade services at no additional cost. This is also known as offline trading and is suitable for clients who either don’t prefer trading online or don’t know how to trade online.
Motilal Oswal Account Opening Fees
For opening an account, here are the initial charges a customer has to pay:
| Trading Account Opening Charges (One Time) | ₹1000 |
| Trading Annual maintenance charges (AMC) | ₹0 |
| Demat Account Opening Charges (One Time) | ₹0 |
| Demat Account Annual Maintenance Charges (AMC) | ₹441 |
To Open an account with Motilal Oswal, You need to pay a minimum of ₹25,000 as an initial deposit into your trading account balance.
Thus, looking at the pricing, it is certainly one of the expensive stock brokers in India.
Motilal Oswal Brokerage
There are a couple of plans Motilal Oswal offers to its customers. Depending on the plan you choose, the brokerage charges differ. The Value Pac is a subscription-based plan where you need to pay a certain upfront amount based on which the corresponding brokerage charges are applied. The payment made in this plan is NON-Refundable.
How does Brokerage Work?
“In the case of full-service stockbrokers, the brokerage is percentage based. This implies if Motilal Oswal charges you 0.3% for delivery trades and your trading capital is ₹1,00,000 then the brokerage for that particular trade is ₹300.
Thus, it really depends on your trading capital and based on that the brokerage will be calculated. The minimum brokerage in case of this full-service stockbroker is ₹30 for delivery trades and ₹15 for Intraday trades.”
Similarly, the Margin account plan requires you to provide a margin amount, which is refundable, in nature before you start trading.
Use this Motilal Oswal Brokerage Calculator for complete charges and your profit.
Here are the plans:
Motilal Oswal Value Pac Account
Value Pac is an upfront subscription scheme, which provides reasonable discounts on brokerage rates with a defined time period to use it. With the wide range of Value Pacs, based on the Volume of Trade and the Validity period one can enjoy the benefits of placing trades at reduced charges.
Watch Video for detailed understanding.
Here are the details:
To understand this in detail, let’s take an example. For instance, if you pay ₹2,500 for 1-month, then you will just be paying 0.25% as a brokerage charge based on your trade value. Similarly, the brokerage percentage drops to 0.18% in case you opt for ₹50,000 for a 1-year plan.
Thus, it really depends on your trading preferences, capital and trading pattern.
Motilal Oswal Margin Account
In the Margin Account, a customer needs to provide a defined upfront margin amount at the time of opening the account.
Here are the brokerage charges for both the plans:
| Value Pac | Margin Account | |
| Delivery Based Trades | 0.25% to 0.18% | 0.30% to 0.25% |
| Intra-day Trades | 0.03% to 0.015% | 0.03% to 0.025% |
| Futures Trades | 0.03% to 0.025% | 0.03% to 0.025% |
| Options Trades | Rs 60 to Rs 50 per contract | Rs 100 to Rs 50 per contract |
When you use the Margin account, the brokerage percentage is decided based on your initial deposit. The more the deposit, the less you end up paying as brokerage percentage. This kind of plan is pretty conventional in nature and is available with most of the full-service stock brokers.
At the same time, you must certainly negotiate with the executive of the full-service stockbroker. We have seen many instances where clients have saved decent brokerage percentages just by negotiating before opening the account.
Motilal Oswal PMS Charges
In order to use PMS services, you need to start with an initial deposit of at least ₹25 Lakh. You may choose to further increase your fund value by a top-up of ₹50,000 minimum.
At the same time, you may use your stock holdings from your demat account as well in order to use PMS. Again, the total valuation of these holdings must be in the range of ₹25 Lakh.
Make sure to get everything documented or emailed before you open an account with Motilal Oswal. This includes the final brokerage charges/percentage that you will pay across segments and other related charges.
Motilal Oswal Transaction Charges
Apart from the brokerage and account opening fees, there are few miscellaneous charges levied on customers that are also called transaction charges:
| Equity Delivery | 0.00335% |
| Equity Intraday | 0.00325% |
| Equity Futures | 0.00200% |
| Equity Options | 0.05110% |
| Currency Futures | 0.00125% |
| Currency Options | 0.04200% |
| Commodity | 0.00325% |
Motilal Oswal Disadvantages
Here are some of the concerns if you become a client of Motilal Oswal:
- Complaints around brokerage promised and brokerage charged have been raised in the recent past
- Recommendation tips are not that promising as some of the other full-service stock brokers
- Make sure you understand some of the hidden charges, that you might not be explained at the onset.
“Motilal Oswal has received around 93 complaints for the financial year 2018-19 at BSE and NSE.”
Motilal Oswal Advantages
At the same time, you get the following advantages while trading through Motilal Oswal:
- Some of the schemes are trader friendly in terms of brokerage for long-term
- An array of trading platforms across devices with high performance and speed
- A wide range of trading products offered for different kinds of requirements you may have.
- Quick customer support and assistance.
- Reasonable margin values offered.
- One of the best portfolio management service provider in the country among all the top stockbrokers.
- One of the oldest names in the industry, so the trust factor is there.
- Funds transfer with more than 60 banks allowed
- Multiple brokerage plans
Conclusion
“Well, Motilal Oswal is a stockbroker for traders and investors. So whether you are looking to make short-term profits or long-term investments, it can certainly be one of your probable options in terms of research. However, it needs to come clear in its Pricing.
The brokerage plans can be misleading and there have been cases reported around some hidden charges at a time. Thus, a little caution from the customer’s point of view is suggested.
Other than that, the trading platforms across devices are good to go along with better than average customer service.”
How to Open an Account?
Enter Your details here to get a callback.
Next Steps:
Post this call, You need to provide a few documents to start your account opening process. The documents required are as follows:
- ID Proof
- An address proof
- Bank statement for the last 6 months, cancelled cheque
- Passport sized photograph
- AMC fees (if applicable)
- Trading Account cheque
Once you are done with this, your account gets opened within 2-3 business days.
Motilal Oswal Membership Information
Here is the membership information of the broker with different exchanges and intermediate parties:
| Entity | Membership ID |
| NSE (Capital Markets) | INB231041238 |
| NSE (Futures & Options) | INF231041238 |
| BSE (Capital Markets) | INB011041257 |
| BSE (Futures & Options) | INF011041257 |
| MSEI | INB261041231 |
| CDSL | IN-DP-16-2015 |
| NSDL | IN-DP-NSDL-152-2000 |
| PMS | INP000000670 |
| Registered Address | Motilal Oswal Tower, Rahimtullah Sayani Road, Opposite Parel ST Depot, Prabhadevi, Mumbai-400025 |
The details can be verified from the corresponding websites of the exchanges.
Some Frequently Asked Questions About Motilal Oswal (FAQs):
What are the account opening charges at Motilal Oswal?
To open an account with this full-service stockbroker, you are required to pay ₹1000 for the trading account, while the demat account has no cost attached to it.
What is the research quality at Motilal Oswal?
The full-service stockbroker provides you decent research reports, recommendations and trading calls through Email, SMS, Whatsapp to go along with the research section within the trading platforms offered by the broker. It becomes much easier to make quick judgements by accessing the reports in the platform.
As far as accuracy is concerned, the broker provides better than Industry average quality to its clients.
Does Motilal Oswal allow me to invest in Mutual funds and IPOs?
Yes, the broker offers multiple trading and investment products including Mutual funds and IPO investments as well.
How many clients does Motilal Oswal has and how many of those are active ones?
As of June 2017, the full-service stockbroker has a client base of over 9,000,000 with 2,07,194 active clients.
What is Motilal Oswal Uppermost?
This is a mobile app by the full-service stockbroker offered to its partners, sub-brokers and franchises where the users can get access to its own client data, the corresponding brokerage generated and other details specific to the partner’s business.
How much is Motilal Oswal AMC (Annual Maintenance Charges)?
To maintain your Demat account with the full-service stockbroker, you are required to pay ₹400 on a yearly basis. Trading account AMC or annual maintenance charges are nil.
How is Motilal Oswal’s mobile app?
Although the full-service stock broker offers multiple trading platforms to its clients across devices. As far as the mobile app is concerned, it is good to use as far as performance and user experience are concerned. However, there are few issues related to the number of features or usability of the application. As of now, it is certainly a recommended application for you to use for trading.
Can I place AMO (After Market Hour Orders) with the broker?
Yes, you can place aftermarket orders i.e. order placing is allowed even after the market is closed.
Also, Check Out these detailed comparisons of Motilal Oswal Vs Other stockbrokers:
More On Motilal Oswal:
If you are looking for more information on Motilal Oswal stockbroker, here are a few reference articles for you:
Summary
Reviewer
A Digital Blogger
Date
Broker Name
Motilal Oswal
Overall Rating
5 Comments
“Recommendation tips are not promising as compared to other brokers”
Which broker do provide the best recommendations?
Please check this link: https://www.adigitalblogger.com/trading/best-stock-brokers-research-tips-india/
Motilal Oswal Research calls are very poor, it is coming around 20-30%. so it is better that open trading account from any discount broker and buy research calls from sebi research analyst.