Motilal Oswal vs Upstox | Broker Comparison

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

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

Reviews & Ratings

Motilal Oswal	Upstox
•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 Oswal	Upstox
•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 Oswal	Upstox
•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 Oswal	Upstox
•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 Oswal	Upstox
•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.