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HomeStock BrokerMotilal Oswal vs Upstox

Motilal Oswal vs Upstox

Side-by-side view of features, pricing context, and platform fit.

Motilal Oswal

Motilal Oswal

Active Clients: 9,04,002

With over 35 years of experience in the industry and a client base exceeding 50 lakhs, Motilal Oswal Financial Services Ltd. (MOFSL) has established itself as a prominent investment partner in India. Founded in 1987, ...

Upstox

Upstox

Active Clients: 20,36,413

Upstox is a technologically advanced low-cost brokerage firm in India, offering trading services in equities, commodities, currency, futures, and options via web and mobile platforms. Upstox has received investment fr...

Side-by-Side Compare Table

CategoryMotilal OswalUpstox
Basic Details
  • •Broker Type: Full-service broker
  • •Founded: 1987
  • •Broker Type: Discount broker
  • •Founded: Legacy RKSV/Upstox retail broking entity
Charges & AMC
  • •Account opening and first-year concessions are frequently offered in campaigns.
  • •Account administration charge may apply (listed in source as Rs 199).
  • •Account Opening: Rs 0
  • •Demat AMC: Rs 150 per year (first-year concessions may apply in offers)
Brokerage
  • •Equity Delivery: 0.20%
  • •Equity Intraday: Lifetime free highlighted in plan communication
  • •Equity Delivery: Rs 20 or 2.5% (whichever is lower)
  • •Equity Intraday: Rs 20 or 0.05% (whichever is lower)
Other Charges
  • •Statutory and exchange charges apply separately.
  • •Negotiated brokerage may be available for higher volume clients.
  • •Call and Trade: Rs 20 per executed order
  • •Instant money transfer fee and physical statement fees may apply
Leverage (Margin)
  • •Equity intraday margin up to around 5x referenced.
  • •F&O margins generally around exchange-required levels.
  • •Margin/leverage is segment specific and governed by exchange/risk policies.
  • •Delivery generally follows full margin and intraday can provide lower upfront margins.
Features
  • •35+ years legacy and strong research franchise.
  • •Personal advisory and curated portfolios.
  • •Digital-first execution with mobile/web stack.
  • •Strong derivatives support and low brokerage positioning.
Trading Platforms
  • •MO Investor App
  • •MO Trader App
  • •Upstox Pro web platform
  • •Upstox mobile app
Reviews & Ratings
  • •Rating snapshot in source includes low-to-moderate category scores (overall shown near 2.2/5).
  • •Commonly viewed as low-cost, trader-friendly platform.
  • •In this extract, no final single consolidated numeric rating table is shown.
Investment Options
  • •Equity, derivatives, commodity, currency
  • •Mutual funds, IPO, insurance, fixed income
  • •Equity
  • •F&O
Order Types Offered
  • •Standard delivery/intraday/F&O order flows
  • •Platform support for investor and trader-specific execution styles
  • •Standard market and limit orders
  • •Delivery/intraday/F&O execution flows
Suitable For (Investor Type)
  • •Investors who value research and advisory depth.
  • •Users seeking broad product coverage including curated baskets.
  • •Cost-sensitive active traders.
  • •App-first users who want strong F&O workflow.
Pros and Cons
  • •Pros:
  • •Deep research-led ecosystem and long market presence.
  • •Pros:
  • •Competitive low-cost brokerage model.

Detailed Comparison

Basic Details

Motilal OswalUpstox
  • •Broker Type: Full-service broker
  • •Founded: 1987
  • •SEBI Registration: INZ000158836
  • •NSE Member Code: 10412
  • •Net Worth: Rs 2155.32 Cr
  • •Broker Type: Discount broker
  • •Founded: Legacy RKSV/Upstox retail broking entity
  • •SEBI Registration: INZ000315837
  • •NSE Member Code: 13942
  • •Net Worth: Rs 839.83 Cr

Charges & AMC

Motilal OswalUpstox
  • •Account opening and first-year concessions are frequently offered in campaigns.
  • •Account administration charge may apply (listed in source as Rs 199).
  • •AMC terms can vary by offer window.
  • •Account Opening: Rs 0
  • •Demat AMC: Rs 150 per year (first-year concessions may apply in offers)
  • •App/web platform model with low-cost pricing

Brokerage

Motilal OswalUpstox
  • •Equity Delivery: 0.20%
  • •Equity Intraday: Lifetime free highlighted in plan communication
  • •Equity Futures: 0.02%
  • •Equity/Currency Options: Rs 20 per lot
  • •Commodity Options: Rs 200 per lot
  • •Equity Delivery: Rs 20 or 2.5% (whichever is lower)
  • •Equity Intraday: Rs 20 or 0.05% (whichever is lower)
  • •Equity Futures: Rs 20 or 0.05% (whichever is lower)
  • •Equity Options: Flat Rs 20 per order
  • •Currency/Commodity: Similar low-cost flat-fee pattern as per segment tables

Other Charges

Motilal OswalUpstox
  • •Statutory and exchange charges apply separately.
  • •Negotiated brokerage may be available for higher volume clients.
  • •Call and Trade: Rs 20 per executed order
  • •Instant money transfer fee and physical statement fees may apply
  • •DP sell charges and statutory charges are additional

Leverage (Margin)

Motilal OswalUpstox
  • •Equity intraday margin up to around 5x referenced.
  • •F&O margins generally around exchange-required levels.
  • •Margin/leverage is segment specific and governed by exchange/risk policies.
  • •Delivery generally follows full margin and intraday can provide lower upfront margins.

Features

Motilal OswalUpstox
  • •35+ years legacy and strong research franchise.
  • •Personal advisory and curated portfolios.
  • •Investor and trader specific app offerings.
  • •Digital-first execution with mobile/web stack.
  • •Strong derivatives support and low brokerage positioning.
  • •Direct mutual fund access with zero commission.

Trading Platforms

Motilal OswalUpstox
  • •MO Investor App
  • •MO Trader App
  • •Desktop EXE and web login platforms
  • •Upstox Pro web platform
  • •Upstox mobile app

Reviews & Ratings

Motilal OswalUpstox
  • •Rating snapshot in source includes low-to-moderate category scores (overall shown near 2.2/5).
  • •Commonly viewed as low-cost, trader-friendly platform.
  • •In this extract, no final single consolidated numeric rating table is shown.

Investment Options

Motilal OswalUpstox
  • •Equity, derivatives, commodity, currency
  • •Mutual funds, IPO, insurance, fixed income
  • •US stocks and curated basket/intelligent advisory products
  • •Equity
  • •F&O
  • •Commodity
  • •Currency
  • •Mutual funds

Order Types Offered

Motilal OswalUpstox
  • •Standard delivery/intraday/F&O order flows
  • •Platform support for investor and trader-specific execution styles
  • •Standard market and limit orders
  • •Delivery/intraday/F&O execution flows
  • •Call-and-trade assisted execution

Suitable For (Investor Type)

Motilal OswalUpstox
  • •Investors who value research and advisory depth.
  • •Users seeking broad product coverage including curated baskets.
  • •Traders who can negotiate pricing or use campaign offers effectively.
  • •Cost-sensitive active traders.
  • •App-first users who want strong F&O workflow.
  • •Investors needing discount pricing across major segments.

Pros and Cons

Motilal OswalUpstox
  • •Pros:
  • •Deep research-led ecosystem and long market presence.
  • •Broad product stack and advisory services.
  • •Free intraday proposition highlighted in current positioning.
  • •Cons:
  • •Standard card-rate brokerage can be high versus discount brokers.
  • •Not the simplest low-cost structure for all customer types.
  • •Pros:
  • •Competitive low-cost brokerage model.
  • •Broad segment coverage across equity, derivatives, commodity, and currency.
  • •Free account opening and strong digital onboarding.
  • •Cons:
  • •Assisted services add extra charges.
  • •Some advanced full-service advisory expectations may not be met.

Final Note

Use this side-by-side comparison as a starting point and verify the latest brokerage and compliance details on official broker pages before taking decisions.

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