NIFTY24,173.050.84%
SENSEX77,664.001.09%
BANKNIFTY56,305.001.43%
NIFTY IT30,124.301.22%
PHARMA22,986.352.36%
AUTO25,828.102.35%
FMCG51,140.500.11%
METAL12,786.250.82%
REALTY788.651.83%
ENERGY39,996.750.25%
NIFTY24,173.050.84%
SENSEX77,664.001.09%
BANKNIFTY56,305.001.43%
NIFTY IT30,124.301.22%
PHARMA22,986.352.36%
AUTO25,828.102.35%
FMCG51,140.500.11%
METAL12,786.250.82%
REALTY788.651.83%
ENERGY39,996.750.25%

Side-by-Side Compare Table

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

Detailed Comparison

Basic Details

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

Charges & AMC

UpstoxMotilal Oswal
  • 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
  • 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.

Brokerage

UpstoxMotilal Oswal
  • 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
  • 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

Other Charges

UpstoxMotilal Oswal
  • 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
  • Statutory and exchange charges apply separately.
  • Negotiated brokerage may be available for higher volume clients.

Leverage (Margin)

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

Features

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

Trading Platforms

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

Reviews & Ratings

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

Investment Options

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

Order Types Offered

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

Suitable For (Investor Type)

UpstoxMotilal Oswal
  • Cost-sensitive active traders.
  • App-first users who want strong F&O workflow.
  • Investors needing discount pricing across major segments.
  • 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.

Pros and Cons

UpstoxMotilal Oswal
  • 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.
  • 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.

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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