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Zerodha Vs Motilal Oswal comparison – Which is better?

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Zerodha Vs Motilal Oswal – Comparison

Both Zerodha and Motilal Oswal offer various facilities and trading products to their traders. When an individual trader is going to choose one of them, then he needs to understand & analyze them relatively.

It will lead him to a better decision making ability. Here we have compared Zerodha vs Motilal Oswal to highlight the areas where the investor needs to know & analyze more. 

Zerodha is the largest discount broker of India for providing the best online trading platform, high exposure in exchange for low brokerage, free mutual fund investment (using the platform) and a lot more.

Based on Bangalore it has 9lakhs customer base, 22 branch offices, 94 associate office, and 6 support-call & trade offices. 

Motilal Oswal Securities Limited (MOSL), on the other hand, is a full-service broker & a subsidiary of Motilal Oswal Financial Service Ltd.

It is a renowned brokerage house with more than 2200 branches in 500 cities in India. They facilitate investment in gold in the plan namely Me-Gold, which is a digital gold investment platform.

Notable Points: 

Zerodha: 

  1. Offers direct mutual fund investment using their portal for free. 
  2. In association with IDFC, it provides 3-in-1 account facilities. 
  3. The trading terminal is best among all the other market competitors.
  4. It provides the best quality of customer support.
  5. Facilitate free fund transfer using UPI.
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Motilal Oswal:

  1. Offers a paperless account opening facility with Aadhaar details.
  2. Open access to numerous market research bulletins.
  3. All range of wealth management products is available.
  4. Don’t have a minimum brokerage charge. 
  5. Margin funding facility available.
Zerodha Vs Motilal Oswal Comparison

Comparison of Overall Company Details: 

Comparing Zerodha vs Motilal Oswal based on overall customer service we derived the below-mentioned details. Here we have compared both the brokers considering the type of organization, broker type, originated location, establishment year & name of the founder.

OverviewZerodhaMotilal Oswal
Company TypePrivatePublic
Broker TypeDiscount BrokerFull-Service Broker
HeadquartersBangalore, IndiaMumbai, India
FounderNithin KamathRamdeo Agarwal
Established Year20101987

Comparison on Customer Ratings:

Comparing Zerodha vs Motilal Oswal based on Customer Ratings we get this information.

Here we can see that regarding experience & research work, Motilal Oswal is leading but in the remaining segments such as products, services, brokerage charges & platforms Zerodha is winning the race.

Customer RatingsZerodhaMotilal Oswal
Experience5.7/109.0/10
Products & Services8.5/106.7/10
Brokerage Charges & Fees9.5/106.4/10
Stock Research & Advisory4.0/105.8/10
Trading Platforms9.0/106.7/10
Overall Ratings7.4/106.9/10
Star Ratings★★★★★★★★★☆

Zerodha Vs Motilal Oswal AOC & AMC: 

Here we have compared Zerodha vs Motilal Oswal based on account opening charge & account maintenance charge.

Here we can see from the below contrast that Motilal Oswal provides free AMC on trading accounts and zero cost account opening. Whereas, Zerodha provides free trading AMC and zero margin money criteria.

Demat ServicesZerodhaMotilal Oswal
Depository SourceCDSLNSDL & CDSL
Account Opening ChargesRs.300Zero
Demat AMC ChargesRs.300 per AnnumFree or Rs.300 per Annum
Trading AMC ChargesFreeFree
Margin MoneyZeroMinimum Rs.10,000
Offline to OnlineNoYes

Zerodha Vs Motilal Oswal Brokerage Charge:

Comparing Zerodha vs Motilal Oswal based on Brokerage Charge we get the below details. Here we can see that Motilal Oswal offers a percentage based brokerage charge structure.

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While Zerodha has a very economical flat fee-based brokerage charge. Motilal Oswal charges a minimum brokerage on executed orders but there is no such minimum brokerage in Zerodha.

Brokerage Charge & FeesZerodha BrokerageMotilal Oswal Brokerage
Equity Delivery TradingZero0.50%
Equity Intraday TradingRs.200.05%
Commodity Options TradingRs.200.05%
Equity Futures TradingRs.200.05%
Equity Options TradingRs.20 per LotRs.70 per Lot
Currency Futures TradingRs.200.05%
Currency Options TradingRs.20 per LotRs.70 per Lot
Minimum BrokerageZeroPercentage of Transaction
Demat AMC ChargesRs.300 per AnnumFree or Rs.300 per Annum
Trading AMC ChargesFreeFree
Margin MoneyZeroMinimum Rs.10,000

Comparison on Administrative Charge: 

In terms of Administrative transactional charge, we here compared Zerodha vs Motilal Oswal as below.

We can see that both the broker share a similar charge structure except for the transaction charge segment. Zerodha has a lesser transaction charge than Motilal Oswal.

Other ChargesZerodhaMotilal Oswal
Transaction Charges0.00325% of Total Turnover0.00335% 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 on Offers: 

Contrasting Zerodha & Motilal Oswal we get the below comparison on offers. We here can see that in terms of offers Motilal Oswal is a step ahead of Zerodha for offering more offers.

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

Comparison on Services Offered: 

Comparing Zerodha vs Motilal Oswal based on their service offering we derived the below comparison. So many different trading services are offered by these two broking organizations.

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ServicesZerodhaMotilal Oswal
Demat Services
Trading Services
3 in 1 Account
Intraday Services
IPO Services
Stock Recommendations
Robo Advisory
PMS
Trading Institution
Trading ExposureMaximum 28xMaximum 30x

Comparison of Research & Advisory: 

Comparing Zerodha vs Motilal Oswal based on their research & advisory offering we received the below comparison. Here we can see in the below table that Motilal Oswal offers a lot more advisory support, where Zerodha doesn’t provide any.

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

Zerodha Vs Motilal Oswal Margin: 

Considering Zerodha vs Motilal Oswal based on product-wise leverage we get the below details. Almost all the margin charges are different in these trading companies.

Exposure / LeverageZerodha Margin Motilal Oswal Margin
Equity DeliveryMaximum 20xMaximum 15x
Equity IntradayMaximum 28xMaximum 30x
Equity FuturesMaximum 15xMaximum 15x
Equity OptionsMaximum 8xMaximum 5x
Currency FuturesMaximum 12xMaximum 15x
Currency OptionsMaximum 8xMaximum 12x
CommoditiesMaximum 17xMaximum 15x

Compare Products: 

Comparing Zerodha vs Motilal Oswal based on their product offering we derived the below comparison.

We can see in this below comparison that Motilal Oswal offered to trade in Mutual funds, SIP, & forex which Zerodha doesn’t. 

ProductsZerodhaMotilal Oswal
Equity Trading
Commodity Trading
Currency Trading
Options
Futures
Mutual Funds
Forex
Banking
SIP
Insurance

Zerodha Vs Motilal Oswal Trading Platforms: 

Because of the trading terminal offering of Zerodha vs  Motilal Oswal, we compared them as below. These different platforms can help the traders to access their trading account from different places.

Trading PlatformsZerodhaMotilal Oswal
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: 

Comparing customer assistance, we here have compared Zerodha vs Motilal Oswal as below.

We can see from the below chart that Zerodha doesn’t provide dedicated dealers, offline trading (as it is a discount broker). While Motilal Oswal doesn’t facilitate chat support.

Customer SupportZerodhaMotilal Oswal
Dedicated Dealer
Offline Trading
Online Trading
24*7 Support
Support Number080-404020201800 200 6626
Email Support
Chat Support
Toll-Free Number1800 200 6626
BranchesZero85
open Motilal Oswal demat account

Comparison of Grievances: 

Both these brokers provide multiple channels to their investors to reach them so that they can support the customers in a better way. Here we compared Zerodha vs Motilal Oswal based on their customer complaint handling in the below table. 

Complaints (Current Year)ZerodhaMotilal Oswal
Lodged in BSE120178
Resolved in BSE117165
Lodged in NSE89145
Resolved in NSE85130
open zerodha demat account

Conclusion:

Finally, we can conclude that Motilal Oswal (full-service broker) has a huge offering for its customers. But Zerodha (discount broker) offers lower charges to its customers. Still, it should be kept in mind that individual investors should opt the broker between Zerodha and Motilal Oswal as per his need only. 

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