Zerodha
Discount BrokerAccount opening₹0
AMC₹300 + 18% GST per year
IntradayFlat ₹ 20 or 0.03% (whichever is lower)
Broker Comparison
Zerodha vs Motilal Oswal
Compare brokerage charges, account fees, trading platforms, products, MTF, advantages and limitations before choosing a broker.
Data verified: 2026-08-03
Motilal Oswal
Full-Service BrokerAccount opening₹0 (Free to open)
AMC₹199 per year (Free for 1st year)
Intraday0.02% of trade volume
Zerodha vs Motilal Oswal: Quick comparison
Key charges and account features side by side.
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| Feature | Zerodha | Motilal Oswal |
|---|---|---|
| Broker type | Discount Broker | Full-Service Broker |
| Account Opening Charges | ₹0 | ₹0 (Free to open) |
| Annual Maintenance Charges | ₹300 + 18% GST per year | ₹199 per year (Free for 1st year) |
| Equity delivery | ₹0 brokerage | 0.20% of trade volume |
| Equity intraday | Flat ₹ 20 or 0.03% (whichever is lower) | 0.02% of trade volume |
| Futures | Flat ₹ 20 or 0.03% (whichever is lower) | 0.02% of trade volume |
| Options | Flat ₹ 20 per executed order | ₹20 per lot |
| Commodity | Flat ₹ 20 or 0.03% (whichever is lower) | 0.02% or ₹20 per lot |
| Currency | Flat ₹ 20 or 0.03% (whichever is lower) | 0.02% for Futures / ₹20 per lot for Options |
| DP charges | ₹15.34 per scrip (₹3.5 CDSL fee + ₹9.5 Zerodha fee + ₹2.34 GST) | ₹20 or 0.025% of the transaction value per scrip (whichever is higher) |
| Auto Square Off | ₹50 plus 18% GST | ₹50 per executed order. |
| Call & trade Charge | ₹50 plus 18% GST | ₹50 per executed order. |
| Customer support | Yes, Official app/web help centre, ticket, email and/or phone support | Official app/web help centre, ticket, email and/or phone support. |
| Active Users | 6.8 million NSE-active clients as of May 2026 | NSE Active Clients: ~8.99 Lakh |
About Zerodha
Zerodha is one of India’s leading discount stockbrokers, offering online investing and trading in equities, currencies, commodities, IPOs, futures and options, bonds, government securities, and direct mutual funds.
It charges ₹0 brokerage on equity delivery and direct mutual fund investments. Equity intraday and futures trades are charged at ₹20 or 0.03% per executed order, whichever is lower, while options trades cost a flat ₹20 per executed order.
Zerodha is known for its low-cost pricing, transparent services, user-friendly Kite trading platform, and strong focus on technology and investor education.
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
- Zerodha offers a modern trading and investment ecosystem through Kite Web and Mobile, Coin, Console, Kite Connect API, and Varsity. These platforms provide advanced charts, live market data, portfolio analytics, direct mutual fund investing, IPO applications, alerts, GTT orders, and educational resources.
Products Offered
- Zerodha offers a wide range of investment and trading products, including equity delivery, intraday trading, futures and options, commodities, currencies, ETFs, IPOs, direct mutual funds, bonds, and government securities. These products can be accessed through Zerodha’s online platforms, including Kite and Coin.
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.
Zerodha pros and cons
Pros
- ₹0 brokerage on equity delivery and direct mutual funds.
- Low flat brokerage for intraday and F&O trades.
- User-friendly Kite platform with advanced trading tools.
Cons
- No stock tips or advisory services.
- Call-and-trade and some additional services may incur extra charges.
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.
Broker Rating
Zerodha
4.4/5
Motilal Oswal
3.4/5
Read complete broker reviews
Frequently asked questions
Is Zerodha a good stockbroker for beginners?
Yes, Zerodha is suitable for beginners because it offers a user-friendly Kite trading platform, educational resources through Varsity, and low brokerage charges.
What is the Zerodha account opening charge?
Zerodha currently offers free account opening for resident individual trading and demat accounts.
What brokerage does Zerodha charge?
Zerodha charges ₹0 brokerage on equity delivery. For equity intraday and futures, the charge is ₹20 or 0.03% per executed order, whichever is lower. Options trades are charged at ₹20 per executed order.
Does Zerodha charge an annual maintenance fee?
Yes, Zerodha charges an Account Maintenance Charge (AMC) of ₹300 per year plus 18% GST for standard resident individual accounts, though it is free for the first year. Instead of billing annually, Zerodha deducts this fee quarterly (every 91 days) directly from your trading balance.
Which trading platforms does Zerodha offer?
Zerodha offers Kite for trading and investing, Coin for direct mutual funds and other investments, and Console for portfolio reports and account statements.
Can I invest in mutual funds through Zerodha?
Yes, investors can use Zerodha Coin to invest in direct mutual funds without paying distributor commissions.
Does Zerodha provide stock tips or advisory services?
No, Zerodha does not provide stock tips, portfolio management, or personalised investment advisory services.
Is there any minimum balance requirement in Zerodha?
No, Zerodha does not require users to maintain a minimum account balance to keep their account active.
Can I apply for IPOs through Zerodha?
Yes, Zerodha users can apply for IPOs online through the Kite platform using a supported UPI ID.
Is Zerodha safe and SEBI registered?
Yes, Zerodha Broking Limited is registered with SEBI and is a member of major Indian stock exchanges, including NSE, BSE, and MCX. However, all stock market investments are subject to market risks.
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.