Motilal Oswal vs Zerodha – Point by Point Comparison

While comparing two brokers for online share trading, it is to be noted that Motilal Oswal is a full service broker working on exchanges like BSE, NSE, MCX, MSEI and NCDEX. On the other hand, Zerodha is an online discount broker working on exchanges BSE, NSE, MCX-SX and MCX. While both don’t charge for maintenance of trading account, Motilal Oswal charges Rs.441 for annual maintenance of Demat account while Zerodha charges Rs. 400 for the same. The equity delivery, intraday and future charges for Motilal Oswal stands at 0.05%, the same for Zerodha is flat at 0.01% or Rs.20 per executed order whichever is lower. This means there is a huge saving if you choose Zerodha over Motilal Oswal.  The equity options charges for Motilal Oswal is Rs.75 per lot whereas the same for Zerodha is 0.01% or Rs. 20 per executed order, whichever is lower. There are no brokerage charges for Zerodha but Motilal Oswal charges Rs.30 for delivery and Rs.15 for intraday. The trading platform for Zerodha is Zerodha Trader, Z5 and Zerodha PI which is comparable to Motilal Oswal’s Orion Lite.

    Motilal Oswal Zerodha
Basic Information Type of Broker Full Service Broker Discount Broker
Exchanges BSE, NSE, MCX, MSEI & NCDEX BSE, NSE, MCX-SX, MCX
Fees for Opening Trading Account Rs. 0 Rs. 300
Annual Maintenance Charges of Trading Account Rs. 0 Nil
Fees for Opening Demat Account Rs. 0 Rs. 150
Annual Maintenance Charges of Demat Account Rs. 441 Rs. 400
Brokerage Charges Equity Delivery Charges 0.50% 0.01% or Rs. 20 per executed order. Whichever is lower
Equity Intraday Charges 0.05% 0.01% or Rs. 20 per executed order. Whichever is lower
Equity Future Charges 0.05% 0.01% or Rs. 20 per executed order. Whichever is lower
Equity Options Charges Rs. 75 per lot 0.01% or Rs. 20 per executed order. Whichever is lower
Currency Futures Charges Rs. 20 per lot 0.01% or Rs. 20 per executed order. Whichever is lower
Currency Options Charges Rs. 20 per lot 0.01% or Rs. 20 per executed order. Whichever is lower
Commodity Charges 0.03% 0.01% or Rs. 20 per executed order. Whichever is lower
Minimum Brokerage Charges For Delivery: Rs. 30 & For Intraday: Rs. 15 Nil
Transaction Charges Equity Delivery For BSE: 0.01% and for NSE: 0.00335% For BSE: 0.00275%, for NSE: 0.00325% & for MCX-SX: 0.002%
Equity Intraday For BSE: 0.002% and for NSE: 0.00325% For BSE: 0.00275%, for NSE: 0.00325% & for MCX-SX: 0.002%
Equity Futures 0.00% For BSE: 0.0007%, for NSE: 0.0021% & for MCX-SX: 0.0014%
Equity Options For BSE: 0.002% and for NSE: 0.0511% on Premium For BSE: 0.0027%, for NSE: 0.053% & for MCX-SX: 0.027% on premium
Currency Futures 0.00% For NSE: 0.00135% & for MCX-SX: 0.0013%
Currency Options 0.042% on Premium For NSE: 0.044% & for MCX-SX: 0.037%
Commodity For MCX: 0.0025% 0.0031% (Non-Agri) & 0.00175% (Agri)
Features 3-in-1 Account N N
Mobile Trading Y Y
Acceptance of Orders After Trading Hours Y Y
SMS Alerts Y N
Online Demo Y Y
Online Portfolio Y N
Trading Platform Orion Lite Zerodha Trader, Z5 &Zerodha PI
Investment Services Stock/ Equity Y Y
Commodity Y Y
Currency Y Y
IPO (Initial Public Offers) Y N
Mutual Funds Y N
Debt Y N
Bond/ NCD Y N
Customer Support 24/7 Customer Support Y N
Email Y Y
Phone Y Y
Online Live Chat N N
Branch Support Y N
Reports Daily  Market Report Y N
Quarterly Analysis of Results Y N

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