What are Motilal Oswal's brokerage charges?

On the current online plan: 0.20% on equity delivery, 0.02% on intraday and futures, and ₹20 per lot on options, with ₹0 brokerage up to ₹1,000 in the first 30 days.

What is Motilal Oswal's AMC?

₹0 AMC and admin charges for the first year. The charge from year two is not stated on the official pages we could access, so ask Motilal Oswal for it in writing.

I have seen 0.50% delivery and ₹100 per lot quoted for Motilal Oswal. Which is right?

Those figures come from Motilal Oswal's older tariff documents, which are no longer on its website. The current online plan is 0.20% delivery and ₹20 per options lot. Customers who opened accounts earlier may still be on an older plan, so check your contract note.

Is Motilal Oswal SEBI registered?

Yes. Motilal Oswal Financial Services Ltd. is registered as a stock broker (INZ000158836) and research analyst (INH000000412).

Motilal Oswal Review: Charges, AMC, Platforms, Pros & Cons

Overview

Motilal Oswal is a full-service broker with a large research team. Its current online account page lists 0.20% on equity delivery, 0.02% on futures and ₹20 per options lot, with ₹0 account opening and no AMC or administration charge in the first year.

Those rates are well below Motilal Oswal's older tariff documents (which quoted 0.50% delivery and ₹100 per options lot as a default, with prepaid Value Packs). The older documents are no longer on Motilal Oswal's website, so we treat them as legacy. Two numbers we could not verify from any accessible official page are the DP charge and the AMC from year two — ask for both in writing before you open an account.

Company & regulation

Legal entity	Motilal Oswal Financial Services Limited
Founded	1987
Headquarters	Mumbai, Maharashtra
SEBI stock broker registration	INZ000158836
Depository participant	IN-DP-16-2015 (CDSL & NSDL)
Other registrations	SEBI research analyst INH000000412
Account types	Individual, NRI, HUF, corporate
Products	Equity, F&O, commodity, currency, mutual funds, IPO, PMS, research

Verify registration on SEBI's register of stock brokers.

Motilal Oswal charges

Motilal Oswal charges as published at www.motilaloswal.com/open-demat-account, checked 30 September 2026.
Account opening	₹0 (current online account opening page).
Demat AMC	₹0 AMC and ₹0 administration charge for the first year. The charge from year two is not stated on any accessible official page — ask Motilal Oswal for it in writing.
Equity delivery	0.20% of trade value (current online plan).
Equity intraday	0.02% of trade value (current online plan, per Motilal Oswal's learning-centre article).
Futures	0.02% of trade value (equity and commodity futures).
Options	₹20 per lot (equity and index options).
DP charge (on selling delivery shares)	Not verified. We could not find Motilal Oswal's current DP transaction charge on any accessible official page (the older tariff PDF that listed a “TRX20” scheme is no longer reachable). Ask Motilal Oswal for its DP tariff in writing. The calculator leaves this charge out and says so.
Other notable charges	₹0 brokerage up to ₹1,000 for the first 30 days. Older Motilal Oswal plans (a 0.50% delivery / ₹100-per-lot tariff and prepaid Value Packs) appear in legacy documents that are no longer reachable; existing customers may still be on them, so check your contract note.

How Motilal Oswal counts the DP charge

Rule: Not verified

We could not find Motilal Oswal's current DP transaction charge on any accessible official page (the older tariff PDF that listed a “TRX20” scheme is no longer reachable). Ask Motilal Oswal for its DP tariff in writing. The calculator leaves this charge out and says so.

Source: Motilal Oswal – Open demat account (current headline tariff). Checked 30 September 2026. Compare every broker's rule in our DP charges guide.

Where Motilal Oswal's own sources disagree

Motilal Oswal's older tariff documents described a “default” plan of 0.50% delivery, 0.05% intraday/futures and ₹100 per options lot, with Value Pack plans, a ₹299 AMC, a ₹199 administration charge and a “TRX20” DP scheme. Those documents are no longer reachable on Motilal Oswal's website, so we treat them as legacy and do not use them. The current official pages show 0.20% delivery, 0.02% futures and ₹20 per options lot. Existing customers may still be on an older plan — check your contract note.

We show the figure from the broker's main pricing page in the tables and note the other version here. Ask the broker to confirm which applies to your account.

Full fee schedule with sources

Motilal Oswal fee schedule, one row per fee, each with its own source. Checked 30 September 2026.
Fee	Amount	Charged	Applies to	Source
Account opening	₹0	one-time	Current online plan	Motilal Oswal – Open demat account (current headline tariff)
Brokerage – first 30 days	₹0 up to ₹1,000	first 30 days	Current online plan	Motilal Oswal – Open demat account (current headline tariff)
Demat AMC & admin charge – first year	₹0	first year	Current online plan	Motilal Oswal – Open demat account (current headline tariff)
Brokerage – delivery	0.20%	of trade value	Current online plan	Motilal Oswal – Open demat account (current headline tariff)
Brokerage – intraday	0.02%	of trade value	Current online plan	Motilal Oswal learning centre – Charges levied on stock trading (modified 30 Dec 2024)
Brokerage – futures (Equity & commodity futures)	0.02%	of trade value	Current online plan	Motilal Oswal – Open demat account (current headline tariff)
Brokerage – options (Equity & index options)	₹20	per lot	Current online plan	Motilal Oswal – Open demat account (current headline tariff)
Demat AMC – from year two	Not verified		Current online plan No accessible official page states the AMC or administration charge after the first year.	Motilal Oswal – Open demat account (current headline tariff)
DP charge	Not verified		Resident individual	Motilal Oswal – Open demat account (current headline tariff)

Older or legacy Motilal Oswal plans (not the current tariff)

Legacy (not current, not verified from an accessible source): 0.50% delivery / 0.05% intraday and futures / ₹100 per options lot “default” tariff, Value Pack prepaid plans, ₹299 AMC and ₹199 administration charge from year two, and a “TRX20” DP scheme of ₹35 or 0.035%. Shown only so that customers on older plans recognise the numbers on their contract notes.

Statutory charges (STT, exchange transaction charges, SEBI fee, stamp duty) and 18% GST are extra. Estimate a full trade in the brokerage calculator.

Platforms & apps

Motilal Oswal offers its own mobile app and web trading, plus relationship-manager support.

Mobile: Motilal Oswal mobile app (Android, iOS)
Web / desktop: Motilal Oswal web trading

Research, support & margin

Research

Motilal Oswal is a SEBI-registered research analyst (INH000000412) known for its research reports. Research is not personalised advice.

Customer support

Full-service support with relationship managers and branches. Check the website for current channels.

Margin & MTF

MTF terms were not stated on the official pages we could access. Ask Motilal Oswal for the current rate before using margin.

Who Motilal Oswal suits

Investors who want research coverage and a relationship manager and are willing to pay more than at a discount broker.

May not suit

Cost-focused self-directed traders.

For beginners

If you choose a full-service broker for guidance, ask for the exact brokerage plan in writing before opening your account.

Motilal Oswal Review 2026

At a glance