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Upstox Vs Motilal Oswal – Broker Comparison | Find Best Broker

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Upstox Vs Motilal Oswal – Comparison: 

The following comparative tables below are shown to compare Upstox vs Motilal Oswal. A systematic approach with data and analysis along with pros and cons are discussed for a thorough and better understanding for the investors to take the right decision whether to choose Upstox or Motilal Oswal.

Background:

Upstox is a stock broking company which provides different services in the financial sector and are popular for trading at a very low cost and at nominal charges along with the concept of a whole lot of features like paperless account opening,

free equity investment, unlimited plans to trade on a fixed price and much more.

A journey which was started by Motilal Oswal in the year 1987, as a Full-Service Broker came up with a whole lot of products and services in the financial industry and gained its popularity along with 6 times achiever of Financial Advisor Awards for Equity Broking.

The company is also engaged in a solid Research & Advisory system and Technology which helps its customers for smooth and easy trading.

Upstox Vs Motilal Oswal
Upstox Vs Motilal Oswal

Upstox Vs Motilal Oswal Overview: 

Motilal Oswal as a Full-Service Broking firm was established by Motilal Oswal and Raamdeo Agarwal with its headquarter in Mumbai, India in the year 1987.

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Upstox, on the other hand, is a Discount Broker that started in the year 2009, which was founded by Raghu Kumar, Ravi Kumar, and Shrinivas Vishvanath.

With a concept of an easy and cheaper way of trading along with paperless account opening, free equity investment, unlimited plans to trade on fixed price, etc.

Helped upstox to gain its popularity soon within a short period with a turnover of 4000 Cr. by early February 2016. Another factor of their speedy success was due to their strong backend support from notable and renowned stock traders like Ratan Tata, GVK Davis, and Capital Kalaari.

OverviewMotilal OswalUpstox
Establishment TypePublicPrivate
Broker CategoryFull-Service BrokerDiscount Broker
Head officeMumbai, IndiaMumbai, India
Founded ByRamdeo AgarwalRaghu Kumar,
Ravi Kumar &
Shrinivas Vishvanath
Started Year19872009

Comparison on Customer Ratings: 

In terms of customer ratings, Motilal Oswal exceeds scores of overall ratings then Upstox. It is also noticed that overall star ratings for Motilal Oswal are 4, and his 3 for Upstox.

Customer RatingsMotilal OswalUpstox
Experience9.0 out of 105.3 out of 10
Products & Services6.7 out of 106.5 out of 10
Brokerage Charges & Fees6.4 out of 109.5 out of 10
Stock Research & Advisory5.8 out of 103.0 out of 10
Trading Platforms6.7 out of 106.5 out of 10
Overall Ratings6.9 out of 106.2 out of 10
Star Ratings★★★★☆★★★☆☆

Comparison on AMC & AOC: 

When looking into the figures of AMC and AOC, we find that in most of the cases Motilal Oswal charges more as compared to Upstox. One noticeable point is, the margin money charged by Motilal Oswal is Rs.10,000 wherein, Upstox doesn’t charge any amount as Margin Money.

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Demat ServicesMotilal OswalUpstox
Depository ParticipantNSDL & CDSLCDSL
Charges on Account Opening ZeroRs.150
AMC on DematFree or Rs.300 per AnnumRs.150 per Annum
AMC on TradingFreeFree
Marginal MoneyMinimum Rs.10,000Zero
Offline to OnlineYesNo

Upstox Vs Motilal Oswal Brokerage Fee: 

In the case of the brokerage fee, the interesting point to notice is, Upstox charges a nominal amount of Rs. 20 whereas, Motilal Oswal charges based on percentage.

Brokerage Charge & FeesMotilal Oswal BrokerageUpstox Brokerage
Equity Delivery Trading0.50%Zero
Equity Intraday Trading0.05%Rs.20
Commodity Options Trading0.05%Rs.20
Equity Futures Trading0.05%Rs.20
Equity Options TradingRs.70 per LotRs.20 per lot
Currency Futures Trading0.05%Rs.20
Currency Options TradingRs.70 per LotRs.20 per lot
Minimum BrokeragePercentage of TransactionRs.20
Demat AMC ChargesFree or Rs.300 per AnnumRs.150 per annum
Trading AMC ChargesFreeFree
Margin MoneyMinimum Rs.10,000Zero

Comparison on Administrative Charge: 

In case of administrative charges, Motilal Oswal charges higher than that of Upstox.

Other ChargesMotilal OswalUpstox
Transaction Charges0.00335% of Total Turnover0.00275% of Total Turnover
STT0.0126% of Total Turnover0.0126% of Total Turnover
SEBI Turnover Charges0.0002% of Total Turnover0.0002% of Total Turnover
Stamp DutyDepends on State (very minimal)Depends on State (very minimal)
GST18% of (Brokerage + Transaction Charges)18% of (Brokerage + Transaction Charges)

Comparison of Offers & Discount: 

Upstox doesn’t provide too many offers and discounts to its customers, while Motilal Oswal has more offers and discounts which day provide to its customers as compared to Upstox.

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OffersMotilal OswalUpstox
Free Demat Account Services 
Free Trading Account Services
Discount on Brokerage Services
Trading Happy Hours Services
Flexible Brokerage Plans Services
1 Month Brokerage Free Services
Holiday Offers Services
Referral Offers Services
Zero Brokerage for Loss Making Trades Services

Comparison on Services Offered: 

Well, services again are a feature of Motilal Oswal. Motilal Oswal offers more services to its customers than provided by Upstox.

ServicesMotilal OswalUpstox
Demat Services
Trading Services
3 in 1 Account
Intraday Services
IPO Services
Stock Recommendations
Robo Advisory
PMS
Trading Institution
Trading ExposureMaximum 30xMaximum 20x

Upstox Vs Motilal Oswal Research & Advisory: 

Looking at the below table it is surprising to see that Upstox is not at all involved in any kind of research and advisory prices for their clients.

While on the other hand, Motilal Oswal provides all possible types of research and advisory tips to its customers except Free Stock Tips.

Research & AdvisoryMotilal OswalUpstox
Fundamental Reports Services
Research Reports Services
Company Reports Services
Annual Reports Services
Company Stock Review Services
Free Stock Tips Services
IPO Reports Services
Top Picks Services Services
Daily Market Review Services
Monthly Reports Services
Weekly Reports Services
Offline Advisory Services
Relationship Manager Services

Upstox Vs Motilal Oswal Margin/Leverage

Increase of Leverage both Upstox and Motilal Oswal are engaged in the process. However, we see that the maximum level for Motilal Oswal is higher in most cases except Equity Options.

Exposure / LeverageMotilal Oswal Margin Upstox Margin
Equity DeliveryMaximum 15xMaximum 5x
Equity IntradayMaximum 30xMaximum 20x
Equity FuturesMaximum 15xMaximum 7x
Equity OptionsMaximum 5xMaximum 8x
Currency FuturesMaximum 15xMaximum 5x
Currency OptionsMaximum 12xMaximum 6x
CommoditiesMaximum 15xMaximum 7x

Comparison on Products Offering: 

Undoubtedly, the product range and offerings of Motilal Oswal are much more than that of Upstox.

ProductsMotilal OswalUpstox
Equity Trading
Commodity TradingNo
Currency Trading
Options
Futures
Mutual Funds
Forex
Banking
SIP
Insurance

Upstox Vs Motilal Oswal Trading Platform: 

Technological when we talk about trading platform both Upstox and Motilal Oswal are equal. The common thing that we find is that none of them provides the Windows app and other mobile OS platforms.

Trading PlatformsMotilal OswalUpstox
Desktop Platform – Windows
Desktop Platform – Mac
Desktop Browser Platform
Mobile Site Platform
Android App Platform
iOS App Platform
Windows App Platform
Other Mobile OS Platform
Real-time Updates
Portfolio Details
Online MF Buy
News Flash
Research Reports
Easy Installation
Global Indices
Stock Tips
Personalized Advisory
Interactive Charts
Live Markets
SMS Alerts
Email Alerts
Multi-Account Management

Comparison on Customer Support: 

Another way to measure customer satisfaction is the rate at which grievances are handled. The below table gives a clear picture that the resolution rate of grievances handled in both BSE and NSE is higher of Motilal Oswal than that of Upstox.

Customer SupportMotilal OswalUpstox
Dedicated Dealer
Offline Trading
Online Trading
24*7 Support
Support Number1800 200 6626022 – 6130 9999
Email Support
Chat Support
Toll-Free Number1800 200 6626
Branches85Zero
Motilal Oswal Free Demat account
Upstox Vs Motilal Oswal – Motilal Oswal Free Demat account

Comparison of Grievances Handled: 

After looking at the entire picture so far, it can be very well concluded that choosing a broker depends on the investor’s actual need and the product they want to trade. The pros and cons are part of every business. It is only a proper study of the above facts and figures which will help to decide whether to choose Upstox or Motilal Oswal.

Complaints (Current Year)Motilal OswalUpstox
Lodged in BSE178185
Resolved in BSE165126
Lodged in NSE145175
Resolved in NSE130139

Conclusion:

It is clear from the above data and their analysis that, choosing the right service provider only depends on the product and services, an investor wants to trade with. Both Upstox and Motilal Oswal have the expertise, pros and cons and challenges of their own.

At the same time, each of them has happy and satisfied customers. It is only the investor, who has to decide whether they want to go with Upstox or Motilal Oswal after a thorough study.

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