Motilal Oswal and Espresso are two stockbrokers that investors often compare for brokerage charges, products, trading platforms, and account costs. Motilal Oswal is listed as a Public Full Service , established in 1987 and headquartered in Mumbai, while Espresso is listed as a Private Discount Broker , established in 2020 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 Motilal Oswal or Espresso is a better fit for your investment style, platform preference, and budget.
Motilal Oswal is listed as a Public Full Service established in 1987 with headquarters in Mumbai and founded by Motilal Oswal, Raamdeo Agrawal. 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, portfolio tracking, online mutual fund access, research reports and global indices tracking. It follows a Standard Plan brokerage structure.
Espresso is listed as a Private Discount Broker established in 2020 with headquarters in Mumbai and founded by Jaideep Arora. It offers equity delivery, equity intraday, equity futures, equity options, commodity futures, commodity options and currency futures using mobile app access, web trading and desktop terminal access and supports traders with features such as watchlists, real-time updates, portfolio tracking, online mutual fund access, interactive charts and live market 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.
Motilal Oswal vs Espresso — A Comprehensive Company Overview
| Company Overview | Motilal Oswal | Espresso |
|---|---|---|
| Company Type | Public | Private |
| Broker Type | Full Service | Discount Broker |
| Headquarters | Mumbai | Mumbai |
| Founder | Motilal Oswal, Raamdeo Agrawal | Jaideep Arora |
| Establishment Year | 1987 | 2020 |
| 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 Motilal Oswal and Espresso.
Equity delivery: This charge applies to buy-and-hold stock positions held beyond one trading session. Motilal Oswal charges 0.20% of Transaction Value while Espresso charges Free.
Equity intraday: This charge applies to buy-sell positions closed within the same trading day. Motilal Oswal charges 0.02% of Transaction Value while Espresso charges Rs.20 per Trade or 0.03% (Whichever is Low).
Equity futures: This charge applies to futures contracts on stocks and indices. Motilal Oswal charges 0.02% of Transaction Value while Espresso charges Rs.20 per Trade or 0.03% (whichever is low).
Equity options: This charge applies to equity option contracts. Motilal Oswal charges Rs.20 per Lot while Espresso charges Rs.20 per Trade.
Commodity futures: This charge covers commodities such as gold, silver, and crude oil. Motilal Oswal charges 0.02% of Transaction Value while Espresso charges Rs.20 per Trade or 0.03% (whichever is low).
Commodity options: This charge applies to option contracts on commodity instruments. Motilal Oswal charges Rs.20 per Lot while Espresso charges Rs.20 per Trade.
Currency futures: This charge allows participation in forex price movements on the exchange. Motilal Oswal charges 0.02% of Transaction Value while Espresso charges Rs.20 per Trade or 0.03% (whichever is low).
Currency options: This charge enables traders to hedge or speculate on currency fluctuations. Motilal Oswal charges Rs.20 per Lot while Espresso charges Rs.20 per Trade.
Motilal Oswal vs Espresso — Detailed Brokerage Comparison
| Brokerage | Motilal Oswal | Espresso |
|---|---|---|
| Brokerage Plan | Standard Plan | Standard Plan |
| Subscription Charges | Zero | Zero |
| Equity Delivery | 0.20% of Transaction Value | Free |
| Equity Intraday | 0.02% of Transaction Value | Rs.20 per Trade or 0.03% (Whichever is Low) |
| Equity Future | 0.02% of Transaction Value | Rs.20 per Trade or 0.03% (whichever is low) |
| Equity Option | Rs.20 per Lot | Rs.20 per Trade |
| Commodity Future | 0.02% of Transaction Value | Rs.20 per Trade or 0.03% (whichever is low) |
| Commodity Option | Rs.20 per Lot | Rs.20 per Trade |
| Currency Future | 0.02% of Transaction Value | Rs.20 per Trade or 0.03% (whichever is low) |
| Currency Option | Rs.20 per Lot | Rs.20 per Trade |
Motilal Oswal provides mobile app access, web trading, desktop terminal access and algo trading support for order placement, portfolio tracking, and market monitoring. Espresso provides mobile app access, web trading and desktop terminal access for its users.
Android app: Motilal Oswal and Espresso both list an Android trading app.
iOS app: Motilal Oswal and Espresso both list an iOS trading app.
Web trading platform: Motilal Oswal and Espresso both list a web trading platform.
Desktop trading terminal: Motilal Oswal and Espresso both list a desktop trading terminal.
Algo trading: Motilal Oswal lists algo trading support, while Espresso does not currently mention it.
Basket trading: Motilal Oswal lists basket trading, while Espresso does not currently mention it.
Foreign stocks platform: Motilal Oswal lists foreign stocks access, while Espresso does not currently mention it.
Mutual fund platform: Motilal Oswal and Espresso both list a mutual fund investment platform.
Digital gold platform: Motilal Oswal lists digital gold investing, while Espresso does not currently mention it.
Bonds platform: Motilal Oswal lists a bonds investment platform, while Espresso does not currently mention it.
Motilal Oswal vs Espresso — Complete Comparison of Trading Platforms
| Trading Platform | Motilal Oswal | Espresso |
|---|---|---|
| Android App | Motilal Oswal Android App Link | Espresso Android App Link |
| iOS App | Motilal Oswal iOS App Link | Espresso iOS App Link |
| Web Trading Platform | Motilal Oswal Web Trading Link | Espresso Web Trading Link |
| Trading Terminal | Available | Available |
| Algo Trading Platform | Available | NA |
| Foreign Stocks Platform | Available | NA |
| Basket Trading Platform | Available | NA |
| Mutual Fund Platform | Available | Available |
| Digital Gold Platform | Available | NA |
| Bonds Platform | Available | NA |
Motilal Oswal highlights trading features including watchlists, real-time updates, portfolio tracking, online mutual fund access, research reports and global indices tracking, while Espresso promotes watchlists, real-time updates, portfolio tracking, online mutual fund access, interactive charts and live market 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 Motilal Oswal and Espresso offer this feature.
Real time updates: Get timely updates on market trends, stock prices, and other market data. Both Motilal Oswal and Espresso offer this feature.
Portfolio details: A detailed snapshot of all investments — stocks, bonds, and commodities — in one place. Both Motilal Oswal and Espresso offer this feature.
Online mf buy: Buy or sell mutual funds directly from the trading platform or mobile application. Both Motilal Oswal and Espresso offer this feature.
Research reports: A comprehensive overview of different stocks and sectors in the stock market. Motilal Oswal offers this; Espresso does not currently highlight it.
Global indices: Real-time data on leading global stock market indices. Motilal Oswal offers this; Espresso does not currently highlight it.
Customised recommendations: Personalised investment suggestions based on your objectives and behaviour patterns. Motilal Oswal offers this; Espresso does not currently highlight it.
Stock tips: Valuable tips on stocks to buy, hold, or sell based on market trends. Motilal Oswal offers this; Espresso does not currently highlight it.
Interactive charts: Visual price movement charts to help analyse when to buy or sell. Both Motilal Oswal and Espresso offer this feature.
Live market: Live updates on market movements and trends. Both Motilal Oswal and Espresso offer this feature.
Multi profile management: Manage multiple trading profiles from a single account. Motilal Oswal offers this; Espresso does not currently highlight it.
Secure platform: A secure trading environment with next-generation security controls. Both Motilal Oswal and Espresso offer this feature.
Motilal Oswal vs Espresso — Comprehensive Comparison of Trading Features
| Trading Feature | Motilal Oswal | Espresso |
|---|---|---|
| Wishlist | Yes | Yes |
| Real-Time Updates | Yes | Yes |
| Portfolio Details | Yes | Yes |
| Online MF Buy | Yes | Yes |
| Research Reports | Yes | No |
| Global Indices | Yes | No |
| Customised Recommendations | Yes | No |
| Stock Tips | Yes | No |
| Interactive Charts | Yes | Yes |
| Live Market | Yes | Yes |
| Multi Profile Management | Yes | No |
| 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 Motilal Oswal and Espresso.
Free account opening: Motilal Oswal lists free account opening, while Espresso does not currently mention it.
Free AMC: Motilal Oswal lists free Demat AMC, while Espresso does not currently mention it.
Free brokerage: Espresso lists free brokerage, while Motilal Oswal does not currently mention it.
Flat brokerage: Espresso lists flat brokerage pricing, while Motilal Oswal does not currently mention it.
Flexible brokerage plans: Motilal Oswal lists flexible brokerage plans, while Espresso does not currently mention it.
Happy trading hours: Neither broker currently highlights happy trading hours.
Free delivery trading: Espresso 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 Espresso does not currently mention it.
Free trading calls: Motilal Oswal lists free trading calls, while Espresso does not currently mention it.
Zero brokerage for loss trades: Espresso lists zero brokerage for loss-making trades, while Motilal Oswal does not currently mention it.
Referral offers: Motilal Oswal offers Upto Rs.500 per Client while Espresso offers Rs.300 per Client for referrals.
Motilal Oswal vs Espresso — Comparison of Latest Offers
| Offer | Motilal Oswal | Espresso |
|---|---|---|
| Free Account Opening | Yes | No |
| Free AMC | 1st Year Free | No |
| Free Brokerage | No | Yes, Limited |
| Flat Brokerage | No | Yes |
| Flexible Brokerage Plans | Yes | No |
| Happy Trading Hours | No | No |
| Free Delivery Trading | No | Yes |
| Free Intraday Trading | No | No |
| Free F&O Trading | No | No |
| Free Research Reports | Yes | No |
| Free Trading Calls | Yes | No |
| Referral Offers | Upto Rs.500 per Client | Rs.300 per Client |
| Margin Funding / Pledging | Yes | Yes |
| Brokerage Cashback | Yes | No |
| Zero Brokerage for Loss-Making Trades | No | Yes |
Product availability determines whether a broker can support your preferred markets. Motilal Oswal highlights equity delivery, equity intraday, equity futures, equity options, commodity futures, commodity options and currency futures, while Espresso 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, foreign stocks, mutual funds, corporate bonds, government bonds, digital gold and bonds.
Motilal Oswal vs Espresso — Complete Comparison of Products
| Product | Motilal Oswal | Espresso |
|---|---|---|
| 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 | Yes | No |
| Mutual Funds | Yes | Yes |
| Banking | No | No |
| Insurance | No | No |
| Corporate Bonds | Yes | No |
| Government Bonds | Yes | No |
| Digital Gold | Yes | No |
Demat services: Motilal Oswal and Espresso both list Demat services.
Trading services: Motilal Oswal and Espresso both list trading services.
Intraday services: Motilal Oswal and Espresso both list intraday trading services.
F&O services: Motilal Oswal and Espresso both list F&O services.
IPO services: Motilal Oswal and Espresso 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 Espresso does not currently mention it.
Stock recommendations: Motilal Oswal lists stock recommendations, while Espresso does not currently mention it.
Trading education: Espresso lists trading education, while Motilal Oswal does not currently mention it.
Share pledging: Motilal Oswal and Espresso both list share pledging.
PMS or PCG: Motilal Oswal lists PMS or PCG support, while Espresso does not currently mention it.
NRI services: Motilal Oswal lists NRI services, while Espresso does not currently mention it.
Motilal Oswal provides Demat services, trading services, intraday trading, F&O trading, IPO access and stock research, while Espresso offers Demat services, trading services, intraday trading, F&O trading, IPO access and trading education.
Motilal Oswal vs Espresso — In-Depth Comparison of Services
| Service | Motilal Oswal | Espresso |
|---|---|---|
| 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 | Yes | No |
| Stock Recommendations | Yes | No |
| Trading Education | No | Yes, Bootcamp |
| Share Pledging | Yes | Yes |
| PMS or PCG | Yes | No |
| NRI Services | Yes | No |
Stock advisory helps investors choose appropriate stocks through research reports, tips, and market reviews. The table below shows which advisory products are available from Motilal Oswal and Espresso.
Motilal Oswal and Espresso — Detailed Comparison of Advisory Services
| Advisory | Motilal Oswal | Espresso |
|---|---|---|
| Fundamental Reports | Yes | No |
| Research Reports | Yes | No |
| Company Reports | Yes | No |
| Annual Reports | Yes | No |
| IPO Reports | Yes | No |
| Technical Reports | Yes | Yes, chargeable |
| Stock Tips | Yes | Yes, chargeable |
| Daily Top Stock Picks | Yes | No |
| Daily Market Review | Yes | No |
| Monthly Review | Yes | No |
| Weekly Review | Yes | No |
| Relationship Manager | Yes | Yes, chargeable |
| Robo Advisory | No | Yes |
Margin exposure allows traders to manage larger positions with less capital. Below is a comparison of the margin available from Motilal Oswal and Espresso across different segments.
Motilal Oswal and Espresso — Comprehensive Comparison of Trading Exposure
| Exposure | Motilal Oswal | Espresso |
|---|---|---|
| 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 |
Motilal Oswal and Espresso both list a sub-broker program. Motilal Oswal and Espresso both list a partner program. Motilal Oswal and Espresso both list a referral program.
Motilal Oswal vs Espresso — Comparative Analysis of Programs
| Program | Motilal Oswal | Espresso |
|---|---|---|
| Sub-Broker Program | Yes | Yes, Limited |
| Partner Program | Yes | Yes |
| Referral Program | Yes | Yes |
Motilal Oswal provides support through trading desk support, dedicated dealer assistance, call support, email support and WhatsApp support. Espresso provides support through trading desk support, dedicated dealer assistance, call support, email support and website support. Motilal Oswal operates Available branches.
Motilal Oswal and Espresso — Comprehensive Comparison of Customer Support
| Support Channel | Motilal Oswal | Espresso |
|---|---|---|
| Trading Support | Available, Free | Available, Chargeable |
| Dedicated Dealer | Available, Free | Available, Chargeable |
| Call Support | 022-40548000, 022-67490600 | 022-67670700 |
| Email Support | [email protected] | [email protected] |
| WhatsApp Support | 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 | — |
| Branches / Offices | Available | NA |
Both brokers have been evaluated across key parameters to help investors make an informed comparison. Motilal Oswal carries an overall rating of 9.17 / 10, while Espresso carries an overall rating of 7.85 / 10.
Motilal Oswal vs Espresso — Ratings Comparison
| Rating Parameter | Motilal Oswal | Espresso |
|---|---|---|
| Overall Rating | 9.17 / 10 | 7.85 / 10 |
| Customer Support | 9.13 / 10 | 7.82 / 10 |
| Technology | 9.28 / 10 | 7.94 / 10 |
| Charges | 9.21 / 10 | 7.88 / 10 |
| Products & Services | 9.12 / 10 | 7.80 / 10 |
| Experience | 9.10 / 10 | 7.79 / 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.
Motilal Oswal & Espresso — Comparison of Customer Complaints
| Complaint Metric | Motilal Oswal | Espresso |
|---|---|---|
| Total Complaints Lodged | 348 | 4 |
| Total Complaints Resolved | 298 | 3 |
| % of Resolved Complaints | 85.63% | 75.00% |
| Non-Actionable Complaints | 6 | 0 |
| % of Non-Actionable Complaints | 1.72% | 0.00% |
Transaction charges are levied by the stockbroker for executing each trade. Below is a segment-wise comparison for Motilal Oswal and Espresso.
Motilal Oswal vs Espresso — Detailed Comparison of Transaction Charges
| Transaction Charges | Motilal Oswal | Espresso |
|---|---|---|
| Equity Delivery | 0.00340% (NSE) & As per Stock (BSE) | |
| Equity Intraday | 0.00340% (NSE) & As per Stock (BSE) | |
| Equity Future | 0.002% (NSE & BSE) | |
| Equity Option | 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.
Motilal Oswal & Espresso — Comprehensive Comparison of Pledge Charges
| Pledge Charge | Motilal Oswal | Espresso |
|---|---|---|
| Pledge Creation Charges | Rs.35 per Request or 0.02% of Value (whichever is higher) | |
| Pledge Invocation Charges | Rs.35 per Request or 0.02% of Value (whichever is higher) | |
| Margin Trading Interest | 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.
Motilal Oswal and Espresso — Detailed Comparison of Hidden / Other Charges
| Charge | Motilal Oswal | Espresso |
|---|---|---|
| SEBI Turnover Charges | Rs.10/ Crore (All Segment) | |
| DP Charges | Rs.25 per Scrip only on Sell | |
| GST | 18% on (Brokerage + SEBI + Transaction charges) | |
| Account Closure Charges | Rs.100 | |
| Reactivation Charges | Rs.50 | |
| Dematerialisation Charges | Rs.50 per Certificate | |
| Call & Trade Charges | Free |
Motilal Oswal lists account opening charges of Free and Demat AMC of Rs.300 per Year (1st Year Free). Espresso lists account opening charges of Rs.350 and Demat AMC of Rs.400 per Year.
Motilal Oswal vs Espresso — Detailed Comparison of Demat Charges
| Demat Charges | Motilal Oswal | Espresso |
|---|---|---|
| Account Opening Charges | Free | Rs.350 |
| Annual Maintenance Charges (AMC) | Rs.300 per Year (1st Year Free) | Rs.400 per Year |
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.
Motilal Oswal vs Espresso — Comparative Analysis of STT and CTT Charges
| STT & CTT | Motilal Oswal | Espresso |
|---|---|---|
| Equity Delivery | 0.1% on buy & sell | |
| Equity Intraday | 0.025% on sell | |
| Equity Future | 0.0125% on sell | |
| Equity Option | 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.
Motilal Oswal and Espresso — Comparison of Stamp Duty Charges
| Stamp Duty | Motilal Oswal | Espresso |
|---|---|---|
| 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 |