Groww and Motilal Oswal are two stockbrokers that investors often compare for brokerage charges, products, trading platforms, and account costs. Groww is listed as a Private Discount Broker , established in 2016 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 Groww or Motilal Oswal is a better fit for your investment style, platform preference, and budget.
Groww is listed as a Private Discount Broker established in 2016 with headquarters in Bangalore and founded by Lalit Keshre. The broker highlights access to equity delivery, equity intraday, equity futures, equity options and mutual funds through mobile app access and web trading and promotes features such as watchlists, real-time updates, portfolio tracking, online mutual fund access, interactive charts and live market tracking. 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.
Groww vs Motilal Oswal — A Comprehensive Company Overview
| Company Overview | Groww | Motilal Oswal |
|---|---|---|
| Company Type | Private | Public |
| Broker Type | Discount Broker | Full Service |
| Headquarters | Bangalore | Mumbai |
| Founder | Lalit Keshre | Motilal Oswal, Raamdeo Agrawal |
| Establishment Year | 2016 | 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 Groww and Motilal Oswal.
Equity delivery: This charge applies to buy-and-hold stock positions held beyond one trading session. Groww charges Rs.20 per Order or 0.05% (whichever is low) while Motilal Oswal charges 0.20% of Transaction Value.
Equity intraday: This charge applies to buy-sell positions closed within the same trading day. Groww charges Rs.20 per Order or 0.05% (whichever is low) while Motilal Oswal charges 0.02% of Transaction Value.
Equity futures: This charge applies to futures contracts on stocks and indices. Groww charges Rs.20 per Order or 0.05% (whichever is low) while Motilal Oswal charges 0.02% of Transaction Value.
Equity options: This charge applies to equity option contracts. Groww charges Rs.20 per Order while Motilal Oswal charges Rs.20 per Lot.
Commodity futures: This charge covers commodities such as gold, silver, and crude oil. Groww charges Rs.20 per Order while Motilal Oswal charges 0.02% of Transaction Value.
Commodity options: This charge applies to option contracts on commodity instruments. Groww charges Rs.20 per Order while Motilal Oswal charges Rs.20 per Lot.
Currency futures: This charge allows participation in forex price movements on the exchange. Groww charges Rs.20 per Order while Motilal Oswal charges 0.02% of Transaction Value.
Currency options: This charge enables traders to hedge or speculate on currency fluctuations. Groww charges Rs.20 per Order while Motilal Oswal charges Rs.20 per Lot.
Groww vs Motilal Oswal — Detailed Brokerage Comparison
| Brokerage | Groww | Motilal Oswal |
|---|---|---|
| Brokerage Plan | Standard Plan | Standard Plan |
| Subscription Charges | Zero | Zero |
| Equity Delivery | Rs.20 per Order or 0.05% (whichever is low) | 0.20% of Transaction Value |
| Equity Intraday | Rs.20 per Order or 0.05% (whichever is low) | 0.02% of Transaction Value |
| Equity Future | Rs.20 per Order or 0.05% (whichever is low) | 0.02% of Transaction Value |
| Equity Option | Rs.20 per Order | Rs.20 per Lot |
| Commodity Future | Rs.20 per Order | 0.02% of Transaction Value |
| Commodity Option | Rs.20 per Order | Rs.20 per Lot |
| Currency Future | Rs.20 per Order | 0.02% of Transaction Value |
| Currency Option | Rs.20 per Order | Rs.20 per Lot |
Groww provides mobile app access and web trading 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: Groww and Motilal Oswal both list an Android trading app.
iOS app: Groww and Motilal Oswal both list an iOS trading app.
Web trading platform: Groww and Motilal Oswal both list a web trading platform.
Desktop trading terminal: Motilal Oswal lists a desktop trading terminal, while Groww does not currently mention it.
Algo trading: Motilal Oswal lists algo trading support, while Groww does not currently mention it.
Basket trading: Motilal Oswal lists basket trading, while Groww does not currently mention it.
Foreign stocks platform: Motilal Oswal lists foreign stocks access, while Groww does not currently mention it.
Mutual fund platform: Groww and Motilal Oswal both list a mutual fund investment platform.
Digital gold platform: Motilal Oswal lists digital gold investing, while Groww does not currently mention it.
Bonds platform: Motilal Oswal lists a bonds investment platform, while Groww does not currently mention it.
Groww vs Motilal Oswal — Complete Comparison of Trading Platforms
| Trading Platform | Groww | Motilal Oswal |
|---|---|---|
| Android App | Groww Android App Link | Motilal Oswal Android App Link |
| iOS App | Groww iOS App Link | Motilal Oswal iOS App Link |
| Web Trading Platform | Groww Web Trading Link | Motilal Oswal Web Trading Link |
| Trading Terminal | NA | Available |
| Algo Trading Platform | NA | Available |
| Foreign Stocks Platform | NA | Available |
| Basket Trading Platform | NA | Available |
| Mutual Fund Platform | Available | Available |
| Digital Gold Platform | NA | Available |
| Bonds Platform | NA | Available |
Groww highlights trading features including watchlists, real-time updates, portfolio tracking, online mutual fund access, interactive charts and live market tracking, 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 Groww and Motilal Oswal offer this feature.
Real time updates: Get timely updates on market trends, stock prices, and other market data. Both Groww and Motilal Oswal offer this feature.
Portfolio details: A detailed snapshot of all investments — stocks, bonds, and commodities — in one place. Both Groww and Motilal Oswal offer this feature.
Online mf buy: Buy or sell mutual funds directly from the trading platform or mobile application. Both Groww and Motilal Oswal offer this feature.
Research reports: A comprehensive overview of different stocks and sectors in the stock market. Motilal Oswal offers this; Groww does not currently highlight it.
Global indices: Real-time data on leading global stock market indices. Motilal Oswal offers this; Groww does not currently highlight it.
Customised recommendations: Personalised investment suggestions based on your objectives and behaviour patterns. Motilal Oswal offers this; Groww does not currently highlight it.
Stock tips: Valuable tips on stocks to buy, hold, or sell based on market trends. Motilal Oswal offers this; Groww does not currently highlight it.
Interactive charts: Visual price movement charts to help analyse when to buy or sell. Both Groww and Motilal Oswal offer this feature.
Live market: Live updates on market movements and trends. Both Groww and Motilal Oswal offer this feature.
Multi profile management: Manage multiple trading profiles from a single account. Motilal Oswal offers this; Groww does not currently highlight it.
Secure platform: A secure trading environment with next-generation security controls. Both Groww and Motilal Oswal offer this feature.
Groww vs Motilal Oswal — Comprehensive Comparison of Trading Features
| Trading Feature | Groww | Motilal Oswal |
|---|---|---|
| Wishlist | Yes | Yes |
| Real-Time Updates | Yes | Yes |
| Portfolio Details | Yes | Yes |
| Online MF Buy | Yes | Yes |
| Research Reports | No | Yes |
| Global Indices | No | Yes |
| Customised Recommendations | No | Yes |
| Stock Tips | No | 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 Groww and Motilal Oswal.
Free account opening: Groww and Motilal Oswal both list free account opening.
Free AMC: Groww and Motilal Oswal both list free Demat AMC.
Free brokerage: Neither broker currently highlights free brokerage.
Flat brokerage: Groww lists flat brokerage pricing, while Motilal Oswal does not currently mention it.
Flexible brokerage plans: Motilal Oswal lists flexible brokerage plans, while Groww does not currently mention it.
Happy trading hours: Neither broker currently highlights happy trading hours.
Free delivery trading: Neither broker currently highlights free delivery trading.
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 Groww does not currently mention it.
Free trading calls: Motilal Oswal lists free trading calls, while Groww does not currently mention it.
Zero brokerage for loss trades: Neither broker currently highlights zero brokerage for loss-making trades.
Referral offers: Groww offers Rs.300 per Client while Motilal Oswal offers Upto Rs.500 per Client for referrals.
Groww vs Motilal Oswal — Comparison of Latest Offers
| Offer | Groww | Motilal Oswal |
|---|---|---|
| Free Account Opening | Yes | Yes |
| Free AMC | Yes | 1st Year Free |
| Free Brokerage | No | No |
| Flat Brokerage | Yes | No |
| Flexible Brokerage Plans | No | Yes |
| Happy Trading Hours | No | No |
| Free Delivery Trading | No | No |
| Free Intraday Trading | No | No |
| Free F&O Trading | No | No |
| Free Research Reports | No | Yes |
| Free Trading Calls | No | Yes |
| Referral Offers | Rs.300 per Client | 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. Groww highlights equity delivery, equity intraday, equity futures, equity options and mutual funds, 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, mutual funds, commodity futures, commodity options, currency futures, currency options, foreign stocks, corporate bonds, government bonds, digital gold and bonds.
Groww vs Motilal Oswal — Complete Comparison of Products
| Product | Groww | Motilal Oswal |
|---|---|---|
| Equity Delivery | Yes | Yes |
| Equity Intraday | Yes | Yes |
| Equity Option | Yes | Yes |
| Equity Future | Yes | Yes |
| Commodity Option | No | Yes |
| Commodity Future | No | Yes |
| Currency Option | No | Yes |
| Currency Future | No | Yes |
| Foreign Stocks | No | Yes |
| Mutual Funds | Yes | Yes |
| Banking | No | No |
| Insurance | No | No |
| Corporate Bonds | No | Yes |
| Government Bonds | No | Yes |
| Digital Gold | No | Yes |
Demat services: Groww and Motilal Oswal both list Demat services.
Trading services: Groww and Motilal Oswal both list trading services.
Intraday services: Groww and Motilal Oswal both list intraday trading services.
F&O services: Groww and Motilal Oswal both list F&O services.
IPO services: Groww 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 Groww does not currently mention it.
Stock recommendations: Motilal Oswal lists stock recommendations, while Groww does not currently mention it.
Trading education: Neither broker currently highlights trading education.
Share pledging: Groww and Motilal Oswal both list share pledging.
PMS or PCG: Motilal Oswal lists PMS or PCG support, while Groww does not currently mention it.
NRI services: Motilal Oswal lists NRI services, while Groww does not currently mention it.
Groww provides Demat services, trading services, intraday trading, F&O trading, IPO access and share pledging, while Motilal Oswal offers Demat services, trading services, intraday trading, F&O trading, IPO access and stock research.
Groww vs Motilal Oswal — In-Depth Comparison of Services
| Service | Groww | 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 | No | 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 Groww and Motilal Oswal.
Groww and Motilal Oswal — Detailed Comparison of Advisory Services
| Advisory | Groww | Motilal Oswal |
|---|---|---|
| Fundamental Reports | No | Yes |
| Research Reports | No | Yes |
| Company Reports | No | Yes |
| Annual Reports | No | Yes |
| IPO Reports | No | Yes |
| Technical Reports | No | Yes |
| Stock Tips | No | Yes |
| Daily Top Stock Picks | No | Yes |
| Daily Market Review | No | Yes |
| Monthly Review | No | Yes |
| Weekly Review | No | 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 Groww and Motilal Oswal across different segments.
Groww and Motilal Oswal — Comprehensive Comparison of Trading Exposure
| Exposure | Groww | 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 |
Groww and Motilal Oswal both list a sub-broker program. Groww and Motilal Oswal both list a partner program. Groww and Motilal Oswal both list a referral program.
Groww vs Motilal Oswal — Comparative Analysis of Programs
| Program | Groww | Motilal Oswal |
|---|---|---|
| Sub-Broker Program | Yes, Limited | Yes |
| Partner Program | Yes | Yes |
| Referral Program | Yes | Yes |
Groww provides support through call support, email support, website support, Facebook support and Twitter/X support. Motilal Oswal provides support through trading desk support, dedicated dealer assistance, call support, email support and WhatsApp support. Motilal Oswal operates Available branches.
Groww and Motilal Oswal — Comprehensive Comparison of Customer Support
| Support Channel | Groww | Motilal Oswal |
|---|---|---|
| Trading Support | NA | Available, Free |
| Dedicated Dealer | NA | Available, Free |
| Call Support | 9108800604 | 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. Groww carries an overall rating of 9.75 / 10, while Motilal Oswal carries an overall rating of 9.17 / 10.
Groww vs Motilal Oswal — Ratings Comparison
| Rating Parameter | Groww | Motilal Oswal |
|---|---|---|
| Overall Rating | 9.75 / 10 | 9.17 / 10 |
| Customer Support | 9.71 / 10 | 9.13 / 10 |
| Technology | 9.87 / 10 | 9.28 / 10 |
| Charges | 9.79 / 10 | 9.21 / 10 |
| Products & Services | 9.69 / 10 | 9.12 / 10 |
| Experience | 9.67 / 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.
Groww & Motilal Oswal — Comparison of Customer Complaints
| Complaint Metric | Groww | Motilal Oswal |
|---|---|---|
| Total Complaints Lodged | 181 | 348 |
| Total Complaints Resolved | 163 | 298 |
| % of Resolved Complaints | 90.06% | 85.63% |
| Non-Actionable Complaints | 9 | 6 |
| % of Non-Actionable Complaints | 4.97% | 1.72% |
Transaction charges are levied by the stockbroker for executing each trade. Below is a segment-wise comparison for Groww and Motilal Oswal.
Groww vs Motilal Oswal — Detailed Comparison of Transaction Charges
| Transaction Charges | Groww | 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 | NA | 0.0021% (Non-Agri) / 0.006% (Agri) / 0.0005% (Special) |
| Commodity Option | NA | 0.05% (Non Agri) |
| Currency Future | NA | 0.0009% (NSE) & 0.00022% (BSE) |
| Currency Option | NA | 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.
Groww & Motilal Oswal — Comprehensive Comparison of Pledge Charges
| Pledge Charge | Groww | Motilal Oswal |
|---|---|---|
| Pledge Creation Charges | Free | Rs.35 per Request or 0.02% of Value (whichever is higher) |
| Pledge Invocation Charges | Rs.20 per Request | Rs.35 per Request or 0.02% of Value (whichever is higher) |
| Margin Trading Interest | 0.045% per day | 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.
Groww and Motilal Oswal — Detailed Comparison of Hidden / Other Charges
| Charge | Groww | Motilal Oswal |
|---|---|---|
| SEBI Turnover Charges | Rs.10/ Crore (All Segment) | Rs.10/ Crore (All Segment) |
| DP Charges | Rs.13.5 per Scrip only 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 | Free | Rs.100 |
| Reactivation Charges | Free | Rs.50 |
| Dematerialisation Charges | Not Available | Rs.50 per Certificate |
| Call & Trade Charges | Not Available | Free |
Groww lists account opening charges of Free and Demat AMC of Free. Motilal Oswal lists account opening charges of Free and Demat AMC of Rs.300 per Year (1st Year Free).
Groww vs Motilal Oswal — Detailed Comparison of Demat Charges
| Demat Charges | Groww | Motilal Oswal |
|---|---|---|
| Account Opening Charges | Free | Free |
| Annual Maintenance Charges (AMC) | Free | 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.
Groww vs Motilal Oswal — Comparative Analysis of STT and CTT Charges
| STT & CTT | Groww | 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 | NA | 0.01% on sell (Non-Agri) |
| Commodity Option | NA | 0.05% on sell |
| Currency Future | NA | Nil |
| Currency Option | NA | 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.
Groww and Motilal Oswal — Comparison of Stamp Duty Charges
| Stamp Duty | Groww | 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 | NA | 0.002% on buy |
| Commodity Option | NA | 0.003% on buy |
| Currency Future | NA | 0.0001% on buy |
| Currency Option | NA | 0.0001% on buy |