Fyers and Motilal Oswal are two stockbrokers that investors often compare for brokerage charges, products, trading platforms, and account costs. Fyers is listed as a Private Discount Broker , established in 2015 and headquartered in Bangalore, while Motilal Oswal is listed as a Public Full Service , established in 1987 and headquartered in Mumbai.
This comparison reviews brokerage, Demat charges, product availability, platforms, features, support, ratings, and complaints. Use the side-by-side tables below to see whether Fyers or Motilal Oswal is a better fit for your investment style, platform preference, and budget.
Fyers is listed as a Private Discount Broker established in 2015 with headquarters in Bangalore and founded by Tejas Khoday, Shreyas Khodey & Yashas Khodey. The broker highlights access to equity delivery, equity intraday, equity futures, equity options, commodity futures, commodity options and currency futures through mobile app access, web trading, desktop terminal access and algo trading support and promotes features such as watchlists, real-time updates, research reports, customised recommendations, stock tips and interactive charts. It follows a Standard Plan brokerage structure.
Motilal Oswal is listed as a Public Full Service established in 1987 with headquarters in Mumbai and founded by Motilal Oswal, Raamdeo Agrawal. It offers equity delivery, equity intraday, equity futures, equity options, commodity futures, commodity options and currency futures using mobile app access, web trading, desktop terminal access and algo trading support and supports traders with features such as watchlists, real-time updates, portfolio tracking, online mutual fund access, research reports and global indices tracking. Its brokerage model is structured as Standard Plan.
Both brokers use technology-driven platforms to attract active traders and investors, but the better option depends on the combination of pricing, products, services, and support that matters most to you.
Fyers vs Motilal Oswal — A Comprehensive Company Overview
| Company Overview | Fyers | Motilal Oswal |
|---|---|---|
| Company Type | Private | Public |
| Broker Type | Discount Broker | Full Service |
| Headquarters | Bangalore | Mumbai |
| Founder | Tejas Khoday, Shreyas Khodey & Yashas Khodey | Motilal Oswal, Raamdeo Agrawal |
| Establishment Year | 2015 | 1987 |
| Brokerage Plan | Standard Plan | Standard Plan |
Brokerage is the primary cost to compare when choosing a broker. Below is a segment-by-segment breakdown for Fyers and Motilal Oswal.
Equity delivery: This charge applies to buy-and-hold stock positions held beyond one trading session. Fyers charges Free while Motilal Oswal charges 0.20% of Transaction Value.
Equity intraday: This charge applies to buy-sell positions closed within the same trading day. Fyers charges Rs.20 per Trade or 0.03% (whichever is Low) while Motilal Oswal charges 0.02% of Transaction Value.
Equity futures: This charge applies to futures contracts on stocks and indices. Fyers charges Rs.20 per Trade or 0.03% (whichever is low) while Motilal Oswal charges 0.02% of Transaction Value.
Equity options: This charge applies to equity option contracts. Fyers charges Rs.20 per Trade while Motilal Oswal charges Rs.20 per Lot.
Commodity futures: This charge covers commodities such as gold, silver, and crude oil. Fyers charges Rs.20 per Trade or 0.03% (whichever is low) while Motilal Oswal charges 0.02% of Transaction Value.
Commodity options: This charge applies to option contracts on commodity instruments. Fyers charges Rs.20 per Trade while Motilal Oswal charges Rs.20 per Lot.
Currency futures: This charge allows participation in forex price movements on the exchange. Fyers charges Rs.20 per Trade or 0.03% (whichever is low) while Motilal Oswal charges 0.02% of Transaction Value.
Currency options: This charge enables traders to hedge or speculate on currency fluctuations. Fyers charges Rs.20 per Trade while Motilal Oswal charges Rs.20 per Lot.
Fyers vs Motilal Oswal — Detailed Brokerage Comparison
| Brokerage | Fyers | Motilal Oswal |
|---|---|---|
| Brokerage Plan | Standard Plan | Standard Plan |
| Subscription Charges | Zero | Zero |
| Equity Delivery | Free | 0.20% of Transaction Value |
| Equity Intraday | Rs.20 per Trade or 0.03% (whichever is Low) | 0.02% of Transaction Value |
| Equity Future | Rs.20 per Trade or 0.03% (whichever is low) | 0.02% of Transaction Value |
| Equity Option | Rs.20 per Trade | Rs.20 per Lot |
| Commodity Future | Rs.20 per Trade or 0.03% (whichever is low) | 0.02% of Transaction Value |
| Commodity Option | Rs.20 per Trade | Rs.20 per Lot |
| Currency Future | Rs.20 per Trade or 0.03% (whichever is low) | 0.02% of Transaction Value |
| Currency Option | Rs.20 per Trade | Rs.20 per Lot |
Fyers provides mobile app access, web trading, desktop terminal access and algo trading support for order placement, portfolio tracking, and market monitoring. Motilal Oswal provides mobile app access, web trading, desktop terminal access and algo trading support for its users.
Android app: Fyers and Motilal Oswal both list an Android trading app.
iOS app: Fyers and Motilal Oswal both list an iOS trading app.
Web trading platform: Fyers and Motilal Oswal both list a web trading platform.
Desktop trading terminal: Fyers and Motilal Oswal both list a desktop trading terminal.
Algo trading: Fyers and Motilal Oswal both list algo trading support.
Basket trading: Fyers and Motilal Oswal both list basket trading.
Foreign stocks platform: Motilal Oswal lists foreign stocks access, while Fyers does not currently mention it.
Mutual fund platform: Fyers and Motilal Oswal both list a mutual fund investment platform.
Digital gold platform: Motilal Oswal lists digital gold investing, while Fyers does not currently mention it.
Bonds platform: Motilal Oswal lists a bonds investment platform, while Fyers does not currently mention it.
Fyers vs Motilal Oswal — Complete Comparison of Trading Platforms
| Trading Platform | Fyers | Motilal Oswal |
|---|---|---|
| Android App | Fyers Android App Link | Motilal Oswal Android App Link |
| iOS App | Fyers iOS App Link | Motilal Oswal iOS App Link |
| Web Trading Platform | Fyers Web Trading Link | Motilal Oswal Web Trading Link |
| Trading Terminal | Available | Available |
| Algo Trading Platform | Available | Available |
| Foreign Stocks Platform | NA | Available |
| Basket Trading Platform | Available | Available |
| Mutual Fund Platform | Available | Available |
| Digital Gold Platform | NA | Available |
| Bonds Platform | NA | Available |
Fyers highlights trading features including watchlists, real-time updates, research reports, customised recommendations, stock tips and interactive charts, while Motilal Oswal promotes watchlists, real-time updates, portfolio tracking, online mutual fund access, research reports and global indices tracking. The table below shows the full feature set for both brokers side by side.
Wishlist: Monitor specific stocks or assets by adding them to a watchlist for close tracking. Both Fyers and Motilal Oswal offer this feature.
Real time updates: Get timely updates on market trends, stock prices, and other market data. Both Fyers and Motilal Oswal offer this feature.
Portfolio details: A detailed snapshot of all investments — stocks, bonds, and commodities — in one place. Motilal Oswal offers this; Fyers does not currently highlight it.
Online mf buy: Buy or sell mutual funds directly from the trading platform or mobile application. Motilal Oswal offers this; Fyers does not currently highlight it.
Research reports: A comprehensive overview of different stocks and sectors in the stock market. Both Fyers and Motilal Oswal offer this feature.
Global indices: Real-time data on leading global stock market indices. Motilal Oswal offers this; Fyers does not currently highlight it.
Customised recommendations: Personalised investment suggestions based on your objectives and behaviour patterns. Both Fyers and Motilal Oswal offer this feature.
Stock tips: Valuable tips on stocks to buy, hold, or sell based on market trends. Both Fyers and Motilal Oswal offer this feature.
Interactive charts: Visual price movement charts to help analyse when to buy or sell. Both Fyers and Motilal Oswal offer this feature.
Live market: Live updates on market movements and trends. Both Fyers and Motilal Oswal offer this feature.
Multi profile management: Manage multiple trading profiles from a single account. Motilal Oswal offers this; Fyers does not currently highlight it.
Secure platform: A secure trading environment with next-generation security controls. Both Fyers and Motilal Oswal offer this feature.
Fyers vs Motilal Oswal — Comprehensive Comparison of Trading Features
| Trading Feature | Fyers | Motilal Oswal |
|---|---|---|
| Wishlist | Yes | Yes |
| Real-Time Updates | Yes | Yes |
| Portfolio Details | No | Yes |
| Online MF Buy | No | Yes |
| Research Reports | Yes | Yes |
| Global Indices | No | Yes |
| Customised Recommendations | Yes | Yes |
| Stock Tips | Yes | Yes |
| Interactive Charts | Yes | Yes |
| Live Market | Yes | Yes |
| Multi Profile Management | No | Yes |
| Robust & Secure Platform | Yes | Yes |
Stockbrokers use promotional offers to attract and retain clients. Below is a side-by-side comparison of the offers currently listed by Fyers and Motilal Oswal.
Free account opening: Fyers and Motilal Oswal both list free account opening.
Free AMC: Fyers and Motilal Oswal both list free Demat AMC.
Free brokerage: Fyers lists free brokerage, while Motilal Oswal does not currently mention it.
Flat brokerage: Fyers lists flat brokerage pricing, while Motilal Oswal does not currently mention it.
Flexible brokerage plans: Motilal Oswal lists flexible brokerage plans, while Fyers does not currently mention it.
Happy trading hours: Neither broker currently highlights happy trading hours.
Free delivery trading: Fyers lists free delivery trading, while Motilal Oswal does not currently mention it.
Free intraday trading: Neither broker currently highlights free intraday trading.
Free F&O trading: Neither broker currently highlights free F&O trading.
Free research reports: Motilal Oswal lists free research reports, while Fyers does not currently mention it.
Free trading calls: Motilal Oswal lists free trading calls, while Fyers does not currently mention it.
Zero brokerage for loss trades: Neither broker currently highlights zero brokerage for loss-making trades.
Referral offers: Fyers offers 20% of Revenue while Motilal Oswal offers Upto Rs.500 per Client for referrals.
Fyers vs Motilal Oswal — Comparison of Latest Offers
| Offer | Fyers | Motilal Oswal |
|---|---|---|
| Free Account Opening | Yes | Yes |
| Free AMC | Yes | 1st Year Free |
| Free Brokerage | Yes, Limited | No |
| Flat Brokerage | Yes | No |
| Flexible Brokerage Plans | No | Yes |
| Happy Trading Hours | No | No |
| Free Delivery Trading | Yes | No |
| Free Intraday Trading | No | No |
| Free F&O Trading | No | No |
| Free Research Reports | No | Yes |
| Free Trading Calls | No | Yes |
| Referral Offers | 20% of Revenue | Upto Rs.500 per Client |
| Margin Funding / Pledging | Yes | Yes |
| Brokerage Cashback | No | Yes |
| Zero Brokerage for Loss-Making Trades | No | No |
Product availability determines whether a broker can support your preferred markets. Fyers highlights equity delivery, equity intraday, equity futures, equity options, commodity futures, commodity options and currency futures, while Motilal Oswal highlights equity delivery, equity intraday, equity futures, equity options, commodity futures, commodity options and currency futures.
The table below compares the full product lineup side by side across equity delivery, equity intraday, equity futures, equity options, commodity futures, commodity options, currency futures, currency options, mutual funds, government bonds, foreign stocks, corporate bonds, digital gold and bonds.
Fyers vs Motilal Oswal — Complete Comparison of Products
| Product | Fyers | Motilal Oswal |
|---|---|---|
| Equity Delivery | Yes | Yes |
| Equity Intraday | Yes | Yes |
| Equity Option | Yes | Yes |
| Equity Future | Yes | Yes |
| Commodity Option | Yes | Yes |
| Commodity Future | Yes | Yes |
| Currency Option | Yes | Yes |
| Currency Future | Yes | Yes |
| Foreign Stocks | No | Yes |
| Mutual Funds | Yes | Yes |
| Banking | No | No |
| Insurance | No | No |
| Corporate Bonds | No | Yes |
| Government Bonds | Yes | Yes |
| Digital Gold | No | Yes |
Demat services: Fyers and Motilal Oswal both list Demat services.
Trading services: Fyers and Motilal Oswal both list trading services.
Intraday services: Fyers and Motilal Oswal both list intraday trading services.
F&O services: Fyers and Motilal Oswal both list F&O services.
IPO services: Fyers and Motilal Oswal both list IPO services.
3-in-1 account: Neither broker currently highlights 3-in-1 account support.
Stock research: Motilal Oswal lists stock research, while Fyers does not currently mention it.
Stock recommendations: Motilal Oswal lists stock recommendations, while Fyers does not currently mention it.
Trading education: Fyers lists trading education, while Motilal Oswal does not currently mention it.
Share pledging: Fyers and Motilal Oswal both list share pledging.
PMS or PCG: Motilal Oswal lists PMS or PCG support, while Fyers does not currently mention it.
NRI services: Motilal Oswal lists NRI services, while Fyers does not currently mention it.
Fyers provides Demat services, trading services, intraday trading, F&O trading, IPO access and trading education, while Motilal Oswal offers Demat services, trading services, intraday trading, F&O trading, IPO access and stock research.
Fyers vs Motilal Oswal — In-Depth Comparison of Services
| Service | Fyers | Motilal Oswal |
|---|---|---|
| Demat Services | Yes | Yes |
| Trading Services | Yes | Yes |
| Intraday Services | Yes | Yes |
| F&O Services | Yes | Yes |
| IPO Services | Yes | Yes |
| 3-in-1 Account | No | No |
| Stock Research | No | Yes |
| Stock Recommendations | No | Yes |
| Trading Education | Yes, School of Stocks | No |
| Share Pledging | Yes | Yes |
| PMS or PCG | No | Yes |
| NRI Services | No | Yes |
Stock advisory helps investors choose appropriate stocks through research reports, tips, and market reviews. The table below shows which advisory products are available from Fyers and Motilal Oswal.
Fyers and Motilal Oswal — Detailed Comparison of Advisory Services
| Advisory | Fyers | Motilal Oswal |
|---|---|---|
| Fundamental Reports | Yes | Yes |
| Research Reports | Yes, chargeable | Yes |
| Company Reports | Yes, chargeable | Yes |
| Annual Reports | No | Yes |
| IPO Reports | No | Yes |
| Technical Reports | No | Yes |
| Stock Tips | Yes, chargeable | Yes |
| Daily Top Stock Picks | Yes, chargeable | Yes |
| Daily Market Review | Yes, chargeable | Yes |
| Monthly Review | No | Yes |
| Weekly Review | Yes, chargeable | Yes |
| Relationship Manager | No | Yes |
| Robo Advisory | No | No |
Margin exposure allows traders to manage larger positions with less capital. Below is a comparison of the margin available from Fyers and Motilal Oswal across different segments.
Fyers and Motilal Oswal — Comprehensive Comparison of Trading Exposure
| Exposure | Fyers | Motilal Oswal |
|---|---|---|
| Equity Delivery | 1x | 1x |
| Equity Intraday | Upto 5x (Depends on Stocks) | Upto 5x (Depends on Stocks) |
| Equity F&O Carry Forward | 1x | 1x |
| Equity F&O Intraday | 1.3x | 1.3x |
| Commodity F&O Carry Forward | 1x | 1x |
| Commodity F&O Intraday | 1.3x | 1.3x |
| Currency F&O | 1x | 1x |
Fyers and Motilal Oswal both list a sub-broker program. Fyers and Motilal Oswal both list a partner program. Fyers and Motilal Oswal both list a referral program.
Fyers vs Motilal Oswal — Comparative Analysis of Programs
| Program | Fyers | Motilal Oswal |
|---|---|---|
| Sub-Broker Program | Yes, Limited | Yes |
| Partner Program | Yes | Yes |
| Referral Program | Yes | Yes |
Fyers provides support through trading desk support, call support, email support, website support and Facebook support. Motilal Oswal provides support through trading desk support, dedicated dealer assistance, call support, email support and WhatsApp support. Motilal Oswal operates Available branches.
Fyers and Motilal Oswal — Comprehensive Comparison of Customer Support
| Support Channel | Fyers | Motilal Oswal |
|---|---|---|
| Trading Support | Available, Chargeable | Available, Free |
| Dedicated Dealer | NA | Available, Free |
| Call Support | 080-60001111 | 022-40548000, 022-67490600 |
| Email Support | [email protected] | [email protected] |
| WhatsApp Support | NA | 8657075050 |
| Website Support | Website Link | Website Link |
| Facebook Support | Facebook Support Link | Facebook Support Link |
| Twitter / X Support | Twitter Support Link | Twitter Support Link |
| Telegram Support | Telegram Support Link | Telegram Support Link |
| Branches / Offices | NA | Available |
Both brokers have been evaluated across key parameters to help investors make an informed comparison. Fyers carries an overall rating of 8.20 / 10, while Motilal Oswal carries an overall rating of 9.17 / 10.
Fyers vs Motilal Oswal — Ratings Comparison
| Rating Parameter | Fyers | Motilal Oswal |
|---|---|---|
| Overall Rating | 8.20 / 10 | 9.17 / 10 |
| Customer Support | 8.16 / 10 | 9.13 / 10 |
| Technology | 8.29 / 10 | 9.28 / 10 |
| Charges | 8.23 / 10 | 9.21 / 10 |
| Products & Services | 8.15 / 10 | 9.12 / 10 |
| Experience | 8.13 / 10 | 9.10 / 10 |
SEBI, BSE, and NSE regularly publish broker complaint data as part of investor protection oversight. The table below shows the complaint records for both brokers.
Fyers & Motilal Oswal — Comparison of Customer Complaints
| Complaint Metric | Fyers | Motilal Oswal |
|---|---|---|
| Total Complaints Lodged | 132 | 348 |
| Total Complaints Resolved | 118 | 298 |
| % of Resolved Complaints | 89.39% | 85.63% |
| Non-Actionable Complaints | 10 | 6 |
| % of Non-Actionable Complaints | 7.58% | 1.72% |
Transaction charges are levied by the stockbroker for executing each trade. Below is a segment-wise comparison for Fyers and Motilal Oswal.
Fyers vs Motilal Oswal — Detailed Comparison of Transaction Charges
| Transaction Charges | Fyers | Motilal Oswal |
|---|---|---|
| Equity Delivery | 0.00325% (NSE) 0.00375% (BSE) | 0.00340% (NSE) & As per Stock (BSE) |
| Equity Intraday | 0.00325% (NSE) 0.00375% (BSE) | 0.00340% (NSE) & As per Stock (BSE) |
| Equity Future | 0.0019% (NSE & BSE) | 0.002% (NSE & BSE) |
| Equity Option | 0.05% (on premium) | 0.053% (on premium) |
| Commodity Future | 0.0026% (Non-Agri) | 0.0021% (Non-Agri) / 0.006% (Agri) / 0.0005% (Special) |
| Commodity Option | 0.05% (Non Agri) | 0.05% (Non Agri) |
| Currency Future | 0.0009% (NSE) | 0.0009% (NSE) & 0.00022% (BSE) |
| Currency Option | 0.035% (NSE) | 0.035% (NSE) & 0.001% (BSE) |
Pledge creation charges apply when traders borrow against their held securities. Pledge invocation charges apply if the pledged shares are sold due to a shortfall. Margin trading interest is the rate charged on borrowed funds.
Fyers & Motilal Oswal — Comprehensive Comparison of Pledge Charges
| Pledge Charge | Fyers | Motilal Oswal |
|---|---|---|
| Pledge Creation Charges | Nil | Rs.35 per Request or 0.02% of Value (whichever is higher) |
| Pledge Invocation Charges | Nil | Rs.35 per Request or 0.02% of Value (whichever is higher) |
| Margin Trading Interest | Nil | 0.05% per day |
Beyond brokerage, several statutory and operational charges apply. These include SEBI turnover fees, DP charges, GST, account closure, reactivation, dematerialisation, and call & trade charges.
Fyers and Motilal Oswal — Detailed Comparison of Hidden / Other Charges
| Charge | Fyers | Motilal Oswal |
|---|---|---|
| SEBI Turnover Charges | Rs.10/ Crore (All Segment) | Rs.10/ Crore (All Segment) |
| DP Charges | Rs.15 per Scrip on Sell | Rs.25 per Scrip only on Sell |
| GST | 18% on (Brokerage + SEBI + Transaction charges) | 18% on (Brokerage + SEBI + Transaction charges) |
| Account Closure Charges | Nil | Rs.100 |
| Reactivation Charges | Nil | Rs.50 |
| Dematerialisation Charges | Nil | Rs.50 per Certificate |
| Call & Trade Charges | Rs.50 per Trade | Free |
Fyers lists account opening charges of Free and Demat AMC of Free (limited period offer). Motilal Oswal lists account opening charges of Free and Demat AMC of Rs.300 per Year (1st Year Free).
Fyers vs Motilal Oswal — Detailed Comparison of Demat Charges
| Demat Charges | Fyers | Motilal Oswal |
|---|---|---|
| Account Opening Charges | Free | Free |
| Annual Maintenance Charges (AMC) | Free (limited period offer) | Rs.300 per Year (1st Year Free) |
Securities Transaction Tax (STT) and Commodity Transaction Tax (CTT) are government levies — the same for all brokers in India. These are shown below for reference.
Fyers vs Motilal Oswal — Comparative Analysis of STT and CTT Charges
| STT & CTT | Fyers | Motilal Oswal |
|---|---|---|
| Equity Delivery | 0.1% on buy & sell | 0.1% on buy & sell |
| Equity Intraday | 0.025% on sell | 0.025% on sell |
| Equity Future | 0.0125% on sell | 0.0125% on sell |
| Equity Option | 0.0625% on sell (on premium) | 0.0625% on sell (on premium) |
| Commodity Future | 0.01% on sell (Non-Agri) | 0.01% on sell (Non-Agri) |
| Commodity Option | 0.05% on sell | 0.05% on sell |
| Currency Future | Nil | Nil |
| Currency Option | Nil | Nil |
Stamp duty is a government tax charged when the broker issues, sells, or transfers a security. It is collected at the end of each trading day.
Fyers and Motilal Oswal — Comparison of Stamp Duty Charges
| Stamp Duty | Fyers | Motilal Oswal |
|---|---|---|
| Equity Delivery | 0.015% on buy | 0.015% on buy |
| Equity Intraday | 0.003% on buy | 0.003% on buy |
| Equity Future | 0.002% on buy | 0.002% on buy |
| Equity Option | 0.003% on buy | 0.003% on buy |
| Commodity Future | 0.002% on buy | 0.002% on buy |
| Commodity Option | 0.003% on buy | 0.003% on buy |
| Currency Future | 0.0001% on buy | 0.0001% on buy |
| Currency Option | 0.0001% on buy | 0.0001% on buy |