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Motilal Oswal Review 2026

Research-driven full-service broker with in-house IPO analysis.

Rating
4.0/5
Users
40 lakh+
Founded
1987
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Key Features

  • ✓ 40 lakh+ clients — one of India's largest full-service brokers
  • ✓ Best-in-class in-house research — equity and sector reports
  • ✓ MO Investor and MO Trader apps
  • ✓ Wealth management and PMS services
  • ✓ Strong offline branch network

Fee Structure

Account Opening₹0
Annual Maintenance₹450/year
Equity Delivery0.20% or ₹20 (lower)
Equity Intraday0.020% or ₹20 (lower)
F&OFlat ₹20 per order
IPO Application₹0

Pros

  • + Best research in India — detailed equity and sector reports
  • + MO Investor app — strong for long-term investors
  • + Wealth management for HNI clients
  • + Strong IPO analysis and recommendations
  • + 40 lakh+ client base shows trust

Cons

  • − Higher delivery brokerage (0.20%) vs discount brokers
  • − AMC (₹450/year) vs zero at Groww
  • − App UX not as modern as Zerodha / Groww
  • − Aggressive upselling of wealth products

How to Open a Motilal Oswal Account

  1. 1Visit motilaloswal.com or download MO Investor / MO Trader
  2. 2Enter your mobile and verify via OTP
  3. 3Upload PAN, Aadhaar and signature for e-KYC
  4. 4Link your bank account
  5. 5e-sign with Aadhaar OTP — account active within 24 hours

How to Apply for an IPO on Motilal Oswal

  1. 1Open the MO Investor or MO Trader app
  2. 2Go to IPO section in the Invest tab
  3. 3Select the IPO, enter lots and Cut-Off price
  4. 4Enter your UPI ID and submit the bid
  5. 5Approve the mandate in your UPI app

Ready to get started?

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Frequently Asked Questions

Is Motilal Oswal good for IPO research?

Yes — Motilal Oswal has the most detailed IPO research notes of any Indian broker. Their IPO recommendations and valuations are widely followed by institutional and retail investors.

What is Motilal Oswal's AMC charge?

₹450/year — moderate vs other full-service brokers.

Can I apply for SME IPOs on Motilal Oswal?

Yes. Supports all mainboard and SME IPO applications.

Is Motilal Oswal suitable for beginners?

It is better suited for investors who want research-backed decisions. Beginners who want simplicity should start with Groww or Zerodha.

Is Motilal Oswal a safe broker?

Yes — founded in 1987 with 40 lakh+ clients. SEBI-registered, listed on NSE/BSE, and one of India's most established brokers.