UP
Upstox
Discount BrokerAccount openingFree
AMC₹0 first year
Intraday₹20 or 0.1% per executed order, whichever is lower
Broker Comparison
Upstox vs Motilal Oswal
Compare brokerage charges, account fees, trading platforms, products, MTF, advantages and limitations before choosing a broker.
Data verified: 2026-08-03
MO
Motilal Oswal
Full-Service BrokerAccount opening₹0 (Free to open)
AMC₹199 per year (Free for 1st year)
Intraday0.02% of trade volume
Upstox vs Motilal Oswal: Quick comparison
Key charges and account features side by side.
Swipe horizontally to view the full comparison →
| Feature | Upstox | Motilal Oswal |
|---|---|---|
| Broker type | Discount Broker | Full-Service Broker |
| Account opening | Free | ₹0 (Free to open) |
| Annual maintenance | ₹0 first year | ₹199 per year (Free for 1st year) |
| Equity delivery | ₹20 per executed order | 0.20% of trade volume |
| Equity intraday | ₹20 or 0.1% per executed order, whichever is lower | 0.02% of trade volume |
| Futures | ₹20 or 0.05% per executed order, whichever is lower | 0.02% of trade volume |
| Options | ₹20 per executed order | ₹20 per lot |
| Commodity | ₹20 per executed order or 0.05% (whichever is lower) | 0.02% or ₹20 per lot |
| Currency | ₹20 per executed order or 0.05% (whichever is lower) | 0.02% for Futures / ₹20 per lot for Options |
| DP charges | ₹20.0 + GST | ₹20 or 0.025% of the transaction value per scrip (whichever is higher) |
| Auto Square Off | ₹50 + GST | ₹50 per executed order. |
| Call & trade | ₹75 + GST | ₹50 per executed order. |
| Customer support | Official app/web help centre, ticket, email and/or phone support. | Official app/web help centre, ticket, email and/or phone support. |
| Active Users | Approximately 2.5 million active clients. | NSE Active Clients: ~8.99 Lakh |
About Upstox
Upstox is a technology-driven discount broker in India that offers online investing and trading services at competitive charges. Users can trade in equities, commodities, currencies, futures, and options through its mobile and web-based platforms.
The company is backed by prominent investors, including Ratan Tata and Kalaari Capital. Upstox focuses on providing a simple, fast, and accessible trading experience for both beginners and active traders.
Its trading platforms offer advanced charts, technical indicators, watchlists, order management tools, and portfolio tracking features. Users can access equity delivery, intraday trading, futures and options, commodities, and currency derivatives through a single Upstox account.
About Motilal Oswal
Motilal Oswal Financial Services Limited (MOFSL) is a Mumbai-based financial services company founded in 1987 by Motilal Oswal and Raamdeo Agrawal. It has grown from a stockbroking firm into a diversified financial institution listed on the BSE and NSE.
The company offers stockbroking, wealth management, institutional broking, mutual funds, portfolio management services, investment banking, and home finance. It serves retail investors, high-net-worth individuals, and institutional clients across India.
Motilal Oswal is known for its research-driven investment services and its “Buy Right, Sit Tight” philosophy, which focuses on long-term value investing. It provides services through an extensive branch network and digital trading platforms.
Trading Platforms & Tools
- Upstox offers web and mobile trading platforms designed for investors and active traders. Its tools include advanced charts, technical indicators, multiple order types, customizable watchlists, price alerts, option chain analysis, portfolio tracking, and real-time market data. Users can trade in equities, futures and options, commodities, and currencies, as well as invest in mutual funds, IPOs, ETFs, and other financial products through a single account
Products Offered
- Upstox offers a wide range of investment and trading products, including equity delivery, intraday trading, futures and options, commodities, currencies, mutual funds, IPOs, ETFs, bonds, and government securities. Users can access and manage these products through a single Demat and trading account.
Trading Platforms & Tools
- Motilal Oswal offers the RIISE mobile app and web platform for online trading and investing. These platforms provide access to equities, derivatives, commodities, mutual funds, IPOs and other investment products, along with advanced charts, market data, research reports, stock recommendations and portfolio-tracking tools
Products Offered
- Motilal Oswal offers equities, futures and options, commodities, currency derivatives, mutual funds, IPOs, ETFs, US stocks, bonds, NCDs, fixed deposits, insurance, Portfolio Management Services (PMS) and Alternative Investment Funds (AIFs). It also provides margin trading, depository, wealth management and research-based advisory services.
Upstox pros and cons
Pros
- Advanced trading tools and charts
- Wide range of investment products
- Low and transparent brokerage
Cons
- Does not offer a 3-in-1 account.
- Does not offer unlimited monthly trading plans.
Motilal Oswal pros and cons
Pros
- Strong research reports and investment recommendations.
- Wide range of trading and investment products.
- Multiple digital platforms and an extensive branch network.
Cons
- Brokerage charges may be higher than discount brokers.
- Pricing plans and additional charges can be complex for beginners.
Which broker should you choose?
Choose based on the segment you trade, total account cost, platform requirements, research needs and support preference. Verify the latest tariff and product availability on the brokers’ official websites before opening an account.
Read complete broker reviews
Frequently asked questions
Is Upstox a SEBI-registered stock broker?
Upstox operates through a regulated broking entity. Check the current SEBI registration and exchange membership shown on the broker’s official regulatory or disclosure page before opening an account.
What are the brokerage charges at Upstox?
Upstox brokerage can vary by segment, plan and promotional period. Use the official tariff or pricing page linked in this record and confirm the selected plan during account opening.
Does Upstox charge Demat AMC?
Demat maintenance charges may depend on the account type, BSDA eligibility, plan or introductory offer. Confirm the current AMC from the official tariff before applying.
Which products are available on Upstox?
The products field on this page lists the major investment and trading segments available through Upstox. Availability and activation requirements may vary by user and segment.
Who should consider Upstox?
Upstox may suit users whose required products, platform features, support model and total charges match their needs. Compare the verified tariff and platform features with at least one alternative broker.
Is Motilal Oswal a trusted stockbroker?
Yes, Motilal Oswal is an established full-service financial services company known for stockbroking, investment products and research-based recommendations.
Is Motilal Oswal registered with SEBI?
Yes, Motilal Oswal Financial Services Limited is a SEBI-registered intermediary and provides regulated broking and investment services in India.
Is Motilal Oswal Demat account opening free?
Yes, Motilal Oswal currently offers Demat and trading account opening at ₹0, with no minimum amount required to open an account.
Does Motilal Oswal charge annual maintenance charges?
Motilal Oswal currently advertises ₹0 AMC and administrative charges for the first year. Charges after the introductory period may depend on the selected account or pricing plan.
What is the Motilal Oswal trading app called?
Motilal Oswal’s main trading and investment platform is called RIISE. It is available as a mobile app and web-based trading platform.
What can I invest in through Motilal Oswal?
Investors can access equities, futures and options, commodities, mutual funds, IPOs, bonds, US stocks, insurance and ready-made investment portfolios through its platforms.
Does the RIISE app provide advanced charts?
Yes, the RIISE app provides free TradingView charts, market data and trading tools for technical analysis and order placement.
Can I do intraday and options trading with Motilal Oswal?
Yes, Motilal Oswal supports intraday, futures and options trading through the RIISE app and web platform.
Can I invest in US stocks through Motilal Oswal?
Yes, eligible investors can access US stocks through the international investing section available in the RIISE app.
Is Motilal Oswal suitable for beginners?
Motilal Oswal can be suitable for beginners who need research reports, investment recommendations, educational resources and access to professional advisory services. However, users should compare its brokerage and account-related charges before opening an account.