Lemonn and Motilal Oswal are two stockbrokers that investors often compare for brokerage charges, products, trading platforms, and account costs. Lemonn is listed as a Private Discount Broker , established in 2020 and headquartered in Mumbai, 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 Lemonn or Motilal Oswal is a better fit for your investment style, platform preference, and budget.
Lemonn is listed as a Private Discount Broker established in 2020 with headquarters in Mumbai and founded by Ashish Singhal, Govind Soni, & Vimal Sagar Tiwari. The broker highlights access to equity delivery, equity intraday, equity futures, equity options and mutual funds through mobile app access, web trading and desktop terminal access and promotes features such as watchlists, real-time updates, portfolio tracking, online mutual fund access, research reports and customised recommendations. It follows a Standard 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.
Lemonn vs Motilal Oswal — A Comprehensive Company Overview
| Company Overview | Lemonn | Motilal Oswal |
|---|---|---|
| Company Type | Private | Public |
| Broker Type | Discount Broker | Full Service |
| Headquarters | Mumbai | Mumbai |
| Founder | Ashish Singhal, Govind Soni, & Vimal Sagar Tiwari | Motilal Oswal, Raamdeo Agrawal |
| Establishment Year | 2020 | 1987 |
| Brokerage Plan | Standard | Standard Plan |
Brokerage is the primary cost to compare when choosing a broker. Below is a segment-by-segment breakdown for Lemonn and Motilal Oswal.
Equity delivery: This charge applies to buy-and-hold stock positions held beyond one trading session. Lemonn charges Rs 20 per executed order while Motilal Oswal charges 0.20% of Transaction Value.
Equity intraday: This charge applies to buy-sell positions closed within the same trading day. Lemonn charges Rs 20 per executed order while Motilal Oswal charges 0.02% of Transaction Value.
Equity futures: This charge applies to futures contracts on stocks and indices. Lemonn charges Rs 20 per executed order while Motilal Oswal charges 0.02% of Transaction Value.
Equity options: This charge applies to equity option contracts. Lemonn charges Rs 20 per executed order while Motilal Oswal charges Rs.20 per Lot.
Commodity futures: This charge covers commodities such as gold, silver, and crude oil. Lemonn charges N/A ; Motilal Oswal charges 0.02% of Transaction Value.
Commodity options: This charge applies to option contracts on commodity instruments. Lemonn charges N/A ; Motilal Oswal charges Rs.20 per Lot.
Currency futures: This charge allows participation in forex price movements on the exchange. Lemonn charges N/A ; Motilal Oswal charges 0.02% of Transaction Value.
Currency options: This charge enables traders to hedge or speculate on currency fluctuations. Lemonn charges N/A ; Motilal Oswal charges Rs.20 per Lot.
Lemonn vs Motilal Oswal — Detailed Brokerage Comparison
| Brokerage | Lemonn | Motilal Oswal |
|---|---|---|
| Brokerage Plan | Standard | Standard Plan |
| Subscription Charges | Zero | Zero |
| Equity Delivery | Rs 20 per executed order | 0.20% of Transaction Value |
| Equity Intraday | Rs 20 per executed order | 0.02% of Transaction Value |
| Equity Future | Rs 20 per executed order | 0.02% of Transaction Value |
| Equity Option | Rs 20 per executed order | Rs.20 per Lot |
| Commodity Future | Not Available | 0.02% of Transaction Value |
| Commodity Option | Not Available | Rs.20 per Lot |
| Currency Future | Not Available | 0.02% of Transaction Value |
| Currency Option | Not Available | Rs.20 per Lot |
Lemonn provides mobile app access, web trading and desktop terminal access 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: Lemonn and Motilal Oswal both list an Android trading app.
iOS app: Lemonn and Motilal Oswal both list an iOS trading app.
Web trading platform: Lemonn and Motilal Oswal both list a web trading platform.
Desktop trading terminal: Lemonn and Motilal Oswal both list a desktop trading terminal.
Algo trading: Motilal Oswal lists algo trading support, while Lemonn does not currently mention it.
Basket trading: Motilal Oswal lists basket trading, while Lemonn does not currently mention it.
Foreign stocks platform: Motilal Oswal lists foreign stocks access, while Lemonn does not currently mention it.
Mutual fund platform: Lemonn and Motilal Oswal both list a mutual fund investment platform.
Digital gold platform: Motilal Oswal lists digital gold investing, while Lemonn does not currently mention it.
Bonds platform: Motilal Oswal lists a bonds investment platform, while Lemonn does not currently mention it.
Lemonn vs Motilal Oswal — Complete Comparison of Trading Platforms
| Trading Platform | Lemonn | Motilal Oswal |
|---|---|---|
| Android App | Download | Motilal Oswal Android App Link |
| iOS App | Download | Motilal Oswal iOS App Link |
| Web Trading Platform | Lemonn Trade | Motilal Oswal Web Trading Link |
| Trading Terminal | Available | Available |
| Algo Trading Platform | Not Available | Available |
| Foreign Stocks Platform | Not Available | Available |
| Basket Trading Platform | Not Available | Available |
| Mutual Fund Platform | Available | Available |
| Digital Gold Platform | Not Available | Available |
| Bonds Platform | Not Available | Available |
Lemonn highlights trading features including watchlists, real-time updates, portfolio tracking, online mutual fund access, research reports and customised recommendations, 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 Lemonn and Motilal Oswal offer this feature.
Real time updates: Get timely updates on market trends, stock prices, and other market data. Both Lemonn and Motilal Oswal offer this feature.
Portfolio details: A detailed snapshot of all investments — stocks, bonds, and commodities — in one place. Both Lemonn and Motilal Oswal offer this feature.
Online mf buy: Buy or sell mutual funds directly from the trading platform or mobile application. Both Lemonn and Motilal Oswal offer this feature.
Research reports: A comprehensive overview of different stocks and sectors in the stock market. Both Lemonn and Motilal Oswal offer this feature.
Global indices: Real-time data on leading global stock market indices. Motilal Oswal offers this; Lemonn does not currently highlight it.
Customised recommendations: Personalised investment suggestions based on your objectives and behaviour patterns. Both Lemonn and Motilal Oswal offer this feature.
Stock tips: Valuable tips on stocks to buy, hold, or sell based on market trends. Both Lemonn and Motilal Oswal offer this feature.
Interactive charts: Visual price movement charts to help analyse when to buy or sell. Both Lemonn and Motilal Oswal offer this feature.
Live market: Live updates on market movements and trends. Both Lemonn and Motilal Oswal offer this feature.
Multi profile management: Manage multiple trading profiles from a single account. Both Lemonn and Motilal Oswal offer this feature.
Secure platform: A secure trading environment with next-generation security controls. Both Lemonn and Motilal Oswal offer this feature.
Lemonn vs Motilal Oswal — Comprehensive Comparison of Trading Features
| Trading Feature | Lemonn | Motilal Oswal |
|---|---|---|
| Wishlist | Yes | Yes |
| Real-Time Updates | Yes | Yes |
| Portfolio Details | Yes | Yes |
| Online MF Buy | Yes | 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 | Yes | 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 Lemonn and Motilal Oswal.
Free account opening: Lemonn and Motilal Oswal both list free account opening.
Free AMC: Lemonn and Motilal Oswal both list free Demat AMC.
Free brokerage: Neither broker currently highlights free brokerage.
Flat brokerage: Lemonn lists flat brokerage pricing, while Motilal Oswal does not currently mention it.
Flexible brokerage plans: Motilal Oswal lists flexible brokerage plans, while Lemonn does not currently mention it.
Happy trading hours: Neither broker currently highlights happy trading hours.
Free delivery trading: Lemonn 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 Lemonn does not currently mention it.
Free trading calls: Motilal Oswal lists free trading calls, while Lemonn does not currently mention it.
Zero brokerage for loss trades: Neither broker currently highlights zero brokerage for loss-making trades.
Referral offers: Motilal Oswal offers Upto Rs.500 per Client for referrals; Lemonn does not currently list a referral offer.
Lemonn vs Motilal Oswal — Comparison of Latest Offers
| Offer | Lemonn | Motilal Oswal |
|---|---|---|
| Free Account Opening | Yes | Yes |
| Free AMC | Free for 1st Year, Rs 250+ Gst afterwards | 1st Year Free |
| Free Brokerage | No | 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 | No | Upto Rs.500 per Client |
| Margin Funding / Pledging | No | Yes |
| Brokerage Cashback | No | Yes |
| Zero Brokerage for Loss-Making Trades | No | No |
Product availability determines whether a broker can support your preferred markets. Lemonn 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.
Lemonn vs Motilal Oswal — Complete Comparison of Products
| Product | Lemonn | 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: Lemonn and Motilal Oswal both list Demat services.
Trading services: Lemonn and Motilal Oswal both list trading services.
Intraday services: Lemonn and Motilal Oswal both list intraday trading services.
F&O services: Lemonn and Motilal Oswal both list F&O services.
IPO services: Lemonn and Motilal Oswal both list IPO services.
3-in-1 account: Lemonn lists 3-in-1 account support, while Motilal Oswal does not currently mention it.
Stock research: Lemonn and Motilal Oswal both list stock research.
Stock recommendations: Lemonn and Motilal Oswal both list stock recommendations.
Trading education: Neither broker currently highlights trading education.
Share pledging: Lemonn and Motilal Oswal both list share pledging.
PMS or PCG: Lemonn and Motilal Oswal both list PMS or PCG support.
NRI services: Motilal Oswal lists NRI services, while Lemonn does not currently mention it.
Lemonn provides Demat services, trading services, intraday trading, F&O trading, IPO access and 3-in-1 account support, while Motilal Oswal offers Demat services, trading services, intraday trading, F&O trading, IPO access and stock research.
Lemonn vs Motilal Oswal — In-Depth Comparison of Services
| Service | Lemonn | 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 | Yes | No |
| Stock Research | Yes | Yes |
| Stock Recommendations | Yes | Yes |
| Trading Education | No | No |
| Share Pledging | Yes | Yes |
| PMS or PCG | Yes | 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 Lemonn and Motilal Oswal.
Lemonn and Motilal Oswal — Detailed Comparison of Advisory Services
| Advisory | Lemonn | Motilal Oswal |
|---|---|---|
| Fundamental Reports | Yes | Yes |
| Research Reports | Yes | Yes |
| Company Reports | Yes | Yes |
| Annual Reports | Yes | Yes |
| IPO Reports | Yes | Yes |
| Technical Reports | Yes | Yes |
| Stock Tips | Yes | Yes |
| Daily Top Stock Picks | Yes | Yes |
| Daily Market Review | Yes | Yes |
| Monthly Review | Yes | Yes |
| Weekly Review | Yes | Yes |
| Relationship Manager | Yes | Yes |
| Robo Advisory | Yes | No |
Margin exposure allows traders to manage larger positions with less capital. Below is a comparison of the margin available from Lemonn and Motilal Oswal across different segments.
Lemonn and Motilal Oswal — Comprehensive Comparison of Trading Exposure
| Exposure | Lemonn | Motilal Oswal |
|---|---|---|
| Equity Delivery | 1x | 1x |
| Equity Intraday | 2x | Upto 5x (Depends on Stocks) |
| Equity F&O Carry Forward | 1x | 1x |
| Equity F&O Intraday | 2x | 1.3x |
| Commodity F&O Carry Forward | N/A | 1x |
| Commodity F&O Intraday | N/A | 1.3x |
| Currency F&O | N/A | 1x |
Lemonn and Motilal Oswal both list a sub-broker program. Lemonn and Motilal Oswal both list a partner program. Lemonn and Motilal Oswal both list a referral program.
Lemonn vs Motilal Oswal — Comparative Analysis of Programs
| Program | Lemonn | Motilal Oswal |
|---|---|---|
| Sub-Broker Program | Yes | Yes |
| Partner Program | Yes | Yes |
| Referral Program | Yes | Yes |
Lemonn 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.
Lemonn and Motilal Oswal — Comprehensive Comparison of Customer Support
| Support Channel | Lemonn | Motilal Oswal |
|---|---|---|
| Trading Support | +918035769929 | Available, Free |
| Dedicated Dealer | Available, Free | |
| Call Support | +918040011310 | 022-40548000, 022-67490600 |
| Email Support | [email protected] | [email protected] |
| WhatsApp Support | 8657075050 | |
| Website Support | https://lemonn.co.in/ | Website Link |
| Facebook Support | https://www.facebook.com/lemonnhq | Facebook Support Link |
| Twitter / X Support | https://twitter.com/LemonnHQ | Twitter Support Link |
| Telegram Support | — | Telegram Support Link |
| Branches / Offices | Available |
Both brokers have been evaluated across key parameters to help investors make an informed comparison. Lemonn carries an overall rating of 4/5, while Motilal Oswal carries an overall rating of 9.17 / 10.
Lemonn vs Motilal Oswal — Ratings Comparison
| Rating Parameter | Lemonn | Motilal Oswal |
|---|---|---|
| Overall Rating | 4/5 | 9.17 / 10 |
| Customer Support | 4/5 | 9.13 / 10 |
| Technology | 4/5 | 9.28 / 10 |
| Charges | 4/5 | 9.21 / 10 |
| Products & Services | 4/5 | 9.12 / 10 |
| Experience | 4/5 | 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.
Lemonn & Motilal Oswal — Comparison of Customer Complaints
| Complaint Metric | Lemonn | Motilal Oswal |
|---|---|---|
| Total Complaints Lodged | 348 | |
| Total Complaints Resolved | 298 | |
| % of Resolved Complaints | 85.63% | |
| Non-Actionable Complaints | 6 | |
| % of Non-Actionable Complaints | 1.72% |
Transaction charges are levied by the stockbroker for executing each trade. Below is a segment-wise comparison for Lemonn and Motilal Oswal.
Lemonn vs Motilal Oswal — Detailed Comparison of Transaction Charges
| Transaction Charges | Lemonn | Motilal Oswal |
|---|---|---|
| Equity Delivery | ₹1500 per crore on buy orders | 0.00340% (NSE) & As per Stock (BSE) |
| Equity Intraday | ₹300 per crore on buy orders | 0.00340% (NSE) & As per Stock (BSE) |
| Equity Future | ₹200 per crore on buy orders | 0.002% (NSE & BSE) |
| Equity Option | ₹200 per crore on buy orders | 0.053% (on premium) |
| Commodity Future | - | 0.0021% (Non-Agri) / 0.006% (Agri) / 0.0005% (Special) |
| Commodity Option | - | 0.05% (Non Agri) |
| Currency Future | - | 0.0009% (NSE) & 0.00022% (BSE) |
| Currency Option | - | 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.
Lemonn & Motilal Oswal — Comprehensive Comparison of Pledge Charges
| Pledge Charge | Lemonn | Motilal Oswal |
|---|---|---|
| Pledge Creation Charges | Rs 20 + GST per ISIN | Rs.35 per Request or 0.02% of Value (whichever is higher) |
| Pledge Invocation Charges | ₹50 per ISIN | Rs.35 per Request or 0.02% of Value (whichever is higher) |
| Margin Trading Interest | ₹20 | 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.
Lemonn and Motilal Oswal — Detailed Comparison of Hidden / Other Charges
| Charge | Lemonn | Motilal Oswal |
|---|---|---|
| SEBI Turnover Charges | 0.0001% | Rs.10/ Crore (All Segment) |
| DP Charges | Rs 20 | Rs.25 per Scrip only on Sell |
| GST | 18% on (transaction charges) | 18% on (Brokerage + SEBI + Transaction charges) |
| Account Closure Charges | Rs.100 | |
| Reactivation Charges | Rs.50 | |
| Dematerialisation Charges | Rs.50 per Certificate | |
| Call & Trade Charges | ₹50 per ISIN | Free |
Lemonn lists account opening charges of Free and Demat AMC of Rs 250+ GST. Motilal Oswal lists account opening charges of Free and Demat AMC of Rs.300 per Year (1st Year Free).
Lemonn vs Motilal Oswal — Detailed Comparison of Demat Charges
| Demat Charges | Lemonn | Motilal Oswal |
|---|---|---|
| Account Opening Charges | Free | Free |
| Annual Maintenance Charges (AMC) | Rs 250+ GST | 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.
Lemonn vs Motilal Oswal — Comparative Analysis of STT and CTT Charges
| STT & CTT | Lemonn | Motilal Oswal |
|---|---|---|
| Equity Delivery | 0.1% on buy & sell | 0.1% on buy & sell |
| Equity Intraday | 0.025% on the sell side | 0.025% on sell |
| Equity Future | 0.01% on the sell side | 0.0125% on sell |
| Equity Option | 0.5% on sell side | 0.0625% on sell (on premium) |
| Commodity Future | - | 0.01% on sell (Non-Agri) |
| Commodity Option | - | 0.05% on sell |
| Currency Future | - | Nil |
| Currency Option | - | 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.
Lemonn and Motilal Oswal — Comparison of Stamp Duty Charges
| Stamp Duty | Lemonn | Motilal Oswal |
|---|---|---|
| Equity Delivery | 0.015% on buy | |
| Equity Intraday | 0.003% on buy | |
| Equity Future | 0.002% on buy | |
| Equity Option | 0.003% on buy | |
| Commodity Future | 0.002% on buy | |
| Commodity Option | 0.003% on buy | |
| Currency Future | 0.0001% on buy | |
| Currency Option | 0.0001% on buy |