The comparison between Motilal Oswal, Upstox, and Zerodha highlights the major differences in their services and features, including overall ratings, brokerage charges, trading platforms, investment offerings, and customer service quality. Motilal Oswal is known for its user-friendly trading experience and reliability, while Upstox stands out for offering competitive brokerage rates and an advanced mobile trading platform. Zerodha provides an excellent balance of technology, research tools, and responsive customer support. In terms of active clients, the brokers report approximately 10.2 Lakhs, 23.78 lakh, and 796 lakhs users respectively, reflecting their popularity among investors. Overall, this comparison of Motilal Oswal, Upstox, and Zerodha helps traders and investors choose the most suitable broker based on features, pricing, and platform performance.
Services / Features
The services/features comparison between Motilal Oswal, Upstox, and Zerodha reveals significant differences in their offerings. Motilal Oswal provides 4 for Overall Rating, while Upstox offers 4.5 and Zerodha features 4.
| Services / Features | Motilal Oswal | Upstox | Zerodha |
|---|---|---|---|
| Overall Rating | ★★★★★ | ★★★★★ | ★★★★★ |
| Brokerage Charges | ★★★★★ | ★★★★★ | ★★★★★ |
| Trading Platform | ★★★★★ | ★★★★★ | ★★★★★ |
| Investments Offering | ★★★★★ | ★★★★★ | ★★★★★ |
| Customer Service | ★★★★★ | ★★★★★ | ★★★★★ |
| Broker Type | Full Service Broker | Discount Broker | Discount Broker |
| Exchanges Supported | NSE, BSE, MCX | NSE, BSE | NSE, BSE, MCX |
| Active Clients | 10.2 Lakhs | 23.78 lakh | 796 lakhs |
| Broker Overview | Motilal Oswal Review | Upstox Review | Zerodha |
Account Opening Charges and AMC
The account opening charges and AMC comparison between Motilal Oswal, Upstox, and Zerodha reveal significant differences in their offerings. Motilal Oswal provides N/A trading and demat account opening, while Upstox offers Free and Zerodha features N/A.
| Account Opening Charges and AMC | Motilal Oswal | Upstox | Zerodha |
|---|---|---|---|
| Trading Account Opening | — | Free | — |
| Trading AMC | — | ₹300 | ₹300 |
| Demat Account Opening | — | Free | — |
| Demat AMC | ₹199 per year | ₹300 | ₹300 |
| Provide DP Service | Yes | Yes | Yes |
Brokerage Plans
The brokerage plans comparison between Motilal Oswal, Upstox, and Zerodha reveals significant differences in their offerings. Motilal Oswal provides - plans, while Upstox offers - and Zerodha features No.
| Brokerage Plans | Motilal Oswal | Upstox | Zerodha |
|---|---|---|---|
| Multiple Plans | - | - | No |
| Monthly Plans | - | - | No |
| Yearly Plans | - | - | No |
Brokerage Charges
This comparison between Motilal Oswal, Upstox, and Zerodha reveals significant differences in their brokerage charges. Motilal Oswal charges 0.20% brokerage on equity delivery and intraday, 0.02% for futures, and ₹20 per lot for options. Upstox charges ₹20 brokerage on equity delivery and intraday, ₹20 or 0.1% for futures, and ₹20 for options. Zerodha charges Zero brokerage on equity delivery and intraday, ₹20 or 0.03% for futures, and ₹20 for options.
| Brokerage Charges | Motilal Oswal | Upstox | Zerodha |
|---|---|---|---|
| Plan Name | - | - | |
| Equity Delivery | 0.20% | ₹20 | Zero |
| Equity Intraday | Rs 0 (Free for lifetime) | ₹20 or 0.1% | ₹20 or 0.03% |
| Equity Futures | 0.02% | ₹20 or 0.1% | ₹20 or 0.03% |
| Equity Options | ₹20 per lot | ₹20 | ₹20 |
| Currency Futures | ₹20 per lot | ₹20 or 0.5% | ₹20 or 0.03% |
| Currency Options | ₹20 per lot | ₹20 | ₹20 |
| Commodity Futures | 0.02% | ||
| Commodity Options | Rs 200 Per Lot | ||
| Hidden Charges | No | No | No |
| Call & Trade Charges | ₹25 + GST | ₹75 + GST | ₹50 per order |
| Auto Square Off Charges | ₹25 + GST | ₹75 + GST | ₹50 per order |
| Brokerage Calculator |
Transactions Charges
This comparison between Motilal Oswal, Upstox, and Zerodha reveals significant differences in their transactions. Motilal Oswal provides NSE Rs 297 per Cr (0.00297%) | BSE Rs 375 per Cr (0.00375%) (sell side) for Transaction Charges Equity Delivery, while Upstox offers NSE: 0.00297% per trade and Zerodha features NSE: 0.00297% BSE: 0.00375%.
| Transactions Charges | Motilal Oswal | Upstox | Zerodha |
|---|---|---|---|
| Equity Delivery | NSE Rs 297 per Cr (0.00297%) | BSE Rs 375 per Cr (0.00375%) (sell side) | NSE: 0.00297% per trade | NSE: 0.00297% BSE: 0.00375% |
| Equity Intraday | NSE Rs 297 per Cr (0.00297%) | BSE Rs 375 per Cr (0.00375%) (sell side) | NSE: 0.00297% per trade | NSE: 0.00297% BSE: 0.00375% |
| Equity Futures | NSE Rs 173 per Cr (0.00173%) | BSE Rs 0 | NSE: 0.00188% | NSE: 0.00173% |
| Equity Options | NSE Rs 3503 per Cr (0.03503%) | BSE Rs 325 per Cr (0.00325%) (on premium) | NSE: 0.0495% (on premium) | NSE: 0.03503% BSE: 0.0325% |
| Currency Futures | NSE Rs 35 per Cr (0.00035%) | BSE Rs 45 per Cr (0.00045%) | NSE: 0.00035% BSE: 0.00045% | NSE: 0.00035% BSE: 0.00045% |
| Currency Options | NSE Rs 3110 per Cr (0.0311%) | BSE Rs 100 per Cr (0.001%) (on premium) | NSE: 0.0311% BSE: 0.001% | NSE: 0.0311% BSE: 0.001% |
| Commodity | — | 0.05% | MCX: 0.0418% NSE: 0.001% |
Account Features
These are the notable distinctions in the account features of Motilal Oswal, Upstox, and Zerodha when compared.
| Account Features | Motilal Oswal | Upstox | Zerodha |
|---|---|---|---|
| 3-in-1 Account | No | No | No |
| Charting | Yes | Yes | Yes |
| Algo Trading | Yes | Yes | Yes |
| SMS Alerts | Yes | Yes | Yes |
| Online Demo | Yes | Yes | Yes |
| Online Portfolio | Yes | Yes | Yes |
| Margin Trading Funding Available | Yes | Yes | Yes |
| Combined Ledger for Equity and Commodity | Yes | Yes | Yes |
| Intraday Square-off Time | 3:20 PM | 3:20 PM | 3:20 PM |
| NRI Trading | Yes | No | Yes |
Trading Platforms
The trading platforms comparison between Motilal Oswal, Upstox, and Zerodha reveals significant differences in their offerings. Motilal Oswal, Upstox and Zerodha provide web trading platforms and mobile trading platforms.
| Trading Platforms | Motilal Oswal | Upstox | Zerodha |
|---|---|---|---|
| Web Trading Platform | Yes | Yes | Yes |
| Web Trading Detail | Motilal Oswal | Upstox | Zerodha |
| Mobile Trading | Yes | Yes | Yes |
| Mobile Trading App | Yes | Yes | Yes |
| Android Mobile App | Yes | Yes | Yes |
| Android App Download | Yes | Yes | Yes |
| iPhone Mobile App (iOS) | Yes | Yes | Yes |
| iOS App Download | Download | Download | Download |
| Android Tablet App | Yes | Yes | yes |
| iPad App (iOS) | Yes | Yes | Yes |
| Trading Software Charges | Zero | Free | Zero |
Broker Ratings
The broker ratings comparison between Motilal Oswal, Upstox, and Zerodha reveals significant differences in their offerings. Motilal Oswal provides 4.3 for Fees Ratings, while Upstox offers 4.3 and Zerodha features 4.5.
| Broker Ratings | Motilal Oswal | Upstox | Zerodha |
|---|---|---|---|
| Fees Ratings | 4.3 | 4.3 | 4.5 |
| Trading Brokerage Rating | 4.3 | 4.4 | 4.5 |
| Trading Platform Usability | 4.3 | 4.4 | 4.8 |
| Customer Service Ratings | 4.3 | 4.2 | 4.4 |
| Overall Ratings | 4.3 | 4.3 | 4.6 |
Investment Offerings
This comparison between Motilal Oswal, Upstox, and Zerodha reveals significant differences in their investment offerings. Motilal Oswal provides investment offerings in Yes, mutual funds and offers trades in currency and commodities, while Upstox provides investment offerings in Yes, mutual funds and offers trades in currency and commodities and Zerodha provides investment offerings in Yes, mutual funds and offers trades in currency and commodities.
| Investment Offerings | Motilal Oswal | Upstox | Zerodha |
|---|---|---|---|
| Equity Cash and F&O | Yes | Yes | Yes |
| Currency Derivatives | Yes | Yes | Yes |
| Commodity | Yes | Yes | Yes |
| Online IPO Application | Yes | Yes | Yes |
| Mutual Funds | Yes | Yes | Yes |
| Bond / NCD | Yes | Yes | Yes |
| ETF | Yes | Yes | Yes |
| Banking | No | No | No |
| Insurance | No | No | No |
| Forex | Yes | Yes | Yes |
| MF SIP Investment | Yes | Yes | Yes |
| Equity SIP Investment | Yes | Yes | Yes |
| PMS Service | Yes | Yes | Yes |
| Other Investment Options | Yes | Yes | Yes |
Customer Support Offered
This comparison between Motilal Oswal, Upstox, and Zerodha reveals significant differences in their customer support offerings. Motilal Oswal provides Yes Customer Service, while Upstox offers No and Zerodha features No.
| Customer Support Offered | Motilal Oswal | Upstox | Zerodha |
|---|---|---|---|
| 24/7 Customer Service | Yes | No | No |
| Email Support | Yes | Yes | Yes |
| Online Live Chat | Yes | Yes | Yes |
| Phone Support | Yes | Yes | Yes |
| Toll Free Number | 022 40548383 | No | No |
| Through Branches | — | Yes | Yes |
| Customer Care Number | +91 9769972825 | 022-41792999 | 080 4718 1888 |
| Account Opening Process | Online/Paperless | Online/Paperless | Online/Paperless |
| Customer Support Email | [email protected] | [email protected] | [email protected] |
| Knowledge Center / Education | https://www.motilaloswal.com/news | https://upstox.com/uplearn/ | https://zerodha.com/z-connect/ |
| Head Office Address | Motilal Oswal Tower, Rahimtullah Sayani Road, Opposite Parel ST Depot, Prabhadevi, Mumbai – 400025 | 30th Floor, Sunshine Tower, Senapati Bapat Marg, Dadar (W), Mumbai, Maharashtra 400013 | Zerodha, #153/154, |
| Website | https://www.motilaloswal.com/ | https://upstox.com/ | https://zerodha.com/ |
Research and Reports
The research and reports comparison between Motilal Oswal, Upstox, and Zerodha reveals significant differences in their offerings.
| Research and Reports | Motilal Oswal | Upstox | Zerodha |
|---|---|---|---|
| Research Mutual Funds | Yes | Yes | Yes |
| Research Equity Reports | Yes | Yes | Yes |
| Research ETF | Yes | Yes | Yes |
| Daily Market Report | Yes | Yes | Yes |
| Free Tips | No | No | No |
| Quarterly Result Analysis | Yes | Yes | Yes |
| News Alerts | Yes | Yes | Yes |
Demat Account Charges
This comparison between Motilal Oswal, Upstox, and Zerodha reveals significant differences in their demat account charges. Motilal Oswal provides CDSL & NSDL for DP Source, while Upstox offers CDSL and Zerodha features CDSL.
| Demat Account Charges | Motilal Oswal | Upstox | Zerodha |
|---|---|---|---|
| DP Source | CDSL & NSDL | CDSL | CDSL |
| DP ID | 16-2015 | 81800 | 431-2019 |
| Demat Account Annual Maintenance Charges (AMC) | Rs 199 | Rs 300 | ₹300 |
| Advance Deposit | No | No | No |
| Transaction Charges on Debit (Per ISIN) | 0.025% or Rs 30 | — | ₹40 per executed order |
| Demat | Rs 100 per certificate + Rs 50 per certificate | — | ₹15.34 per scrip |
| Remat | Rs 35 per certificate + 25 courier charges | — | ₹15.34 per scrip |
| Pledge Creation | Rs 35 or 0.02% | ₹20 + GST per scrip | ₹30 + GST |
| Pledge Creation Confirmation | Nil | Yes | Yes |
| Pledge Closure | Rs 35 or 0.02% | ₹20 + GST per scrip | ₹30 + GST |
| Pledge Closure Confirmation | Nil | Yes | Yes |
| Pledge Invocation | Rs 35 or 0.02% | ₹20 + GST per scrip | ₹30 + GST |
| Failed Instruction Charges | Nil | ₹50 per transaction | ₹450 |
| Other Charges | Demat Rejection: Rs 50 per request | No | Zero |
Advantages and Disadvantages
| Broker | Pros | Cons |
|---|---|---|
| Motilal Oswal |
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| Upstox |
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| Zerodha |
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Frequently Asked Questions
The account opening charges vary significantly: Motilal Oswal charges Not specified, Upstox charges Free, and Zerodha charges Not specified. When considering AMC, investors should evaluate the overall cost structure along with the features and services provided by each broker.
Brokerage charges differ across platforms: Motilal Oswal offers Rs 0 (Free for lifetime) for equity intraday, Upstox provides ₹20 or 0.1%, and Zerodha charges ₹20 or 0.03%. The actual costs may vary based on trading volume, account type, and specific plans offered by each broker.
All three brokers provide diverse investment opportunities: Motilal Oswal offers 4, Upstox provides 4.5, and Zerodha features 5. The platforms support equity trading, derivatives, mutual funds, and other financial instruments suitable for different investor profiles.
Customer support quality varies: Motilal Oswal has 4 support, Upstox offers 4.4, and Zerodha provides 4. Support channels typically include phone, email, live chat, and branch services, with response times and availability differing between brokers.
Platform usability ratings show: Motilal Oswal with 4.3, Upstox with 4.4, and Zerodha with 4.8. The best interface depends on individual preferences - some users prefer simplicity while others need advanced features and customization options.
Yes, mutual fund and stock investing is available across all platforms: Motilal Oswal (Yes), Upstox (Yes), and Zerodha (Yes). All three brokers provide comprehensive access to equity markets and mutual fund investments through their respective platforms.
For beginners, the choice depends on specific needs: Motilal Oswal offers user-friendly platforms with educational resources, Upstox provides competitive pricing with intuitive interfaces, and Zerodha combines ease of use with comprehensive investment options. Beginners should consider factors like ease of account opening, customer support quality, educational content, and platform simplicity when making their decision.
All three brokers offer robust mobile trading apps with different strengths: Motilal Oswal focuses on intuitive design and quick execution, Upstox emphasizes advanced charting and analysis tools, while Zerodha balances simplicity with comprehensive features. The mobile apps are available for both iOS and Android devices with regular updates and feature enhancements.
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