Motilal Oswal and Groww 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 Groww is listed as a Private Discount Broker , established in 2016 and headquartered in Bangalore.
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 Groww 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.
Groww is listed as a Private Discount Broker established in 2016 with headquarters in Bangalore and founded by Lalit Keshre. It offers equity delivery, equity intraday, equity futures, equity options and mutual funds using mobile app access and web trading 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 Groww — A Comprehensive Company Overview
| Company Overview | Motilal Oswal | Groww |
|---|---|---|
| Company Type | Public | Private |
| Broker Type | Full Service | Discount Broker |
| Headquarters | Mumbai | Bangalore |
| Founder | Motilal Oswal, Raamdeo Agrawal | Lalit Keshre |
| Establishment Year | 1987 | 2016 |
| 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 Groww.
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 Groww charges Rs.20 per Order or 0.05% (whichever is low).
Equity intraday: This charge applies to buy-sell positions closed within the same trading day. Motilal Oswal charges 0.02% of Transaction Value while Groww charges Rs.20 per Order or 0.05% (whichever is low).
Equity futures: This charge applies to futures contracts on stocks and indices. Motilal Oswal charges 0.02% of Transaction Value while Groww charges Rs.20 per Order or 0.05% (whichever is low).
Equity options: This charge applies to equity option contracts. Motilal Oswal charges Rs.20 per Lot while Groww charges Rs.20 per Order.
Commodity futures: This charge covers commodities such as gold, silver, and crude oil. Motilal Oswal charges 0.02% of Transaction Value while Groww charges Rs.20 per Order.
Commodity options: This charge applies to option contracts on commodity instruments. Motilal Oswal charges Rs.20 per Lot while Groww charges Rs.20 per Order.
Currency futures: This charge allows participation in forex price movements on the exchange. Motilal Oswal charges 0.02% of Transaction Value while Groww charges Rs.20 per Order.
Currency options: This charge enables traders to hedge or speculate on currency fluctuations. Motilal Oswal charges Rs.20 per Lot while Groww charges Rs.20 per Order.
Motilal Oswal vs Groww — Detailed Brokerage Comparison
| Brokerage | Motilal Oswal | Groww |
|---|---|---|
| Brokerage Plan | Standard Plan | Standard Plan |
| Subscription Charges | Zero | Zero |
| Equity Delivery | 0.20% of Transaction Value | Rs.20 per Order or 0.05% (whichever is low) |
| Equity Intraday | 0.02% of Transaction Value | Rs.20 per Order or 0.05% (whichever is low) |
| Equity Future | 0.02% of Transaction Value | Rs.20 per Order or 0.05% (whichever is low) |
| Equity Option | Rs.20 per Lot | Rs.20 per Order |
| Commodity Future | 0.02% of Transaction Value | Rs.20 per Order |
| Commodity Option | Rs.20 per Lot | Rs.20 per Order |
| Currency Future | 0.02% of Transaction Value | Rs.20 per Order |
| Currency Option | Rs.20 per Lot | Rs.20 per Order |
Motilal Oswal provides mobile app access, web trading, desktop terminal access and algo trading support for order placement, portfolio tracking, and market monitoring. Groww provides mobile app access and web trading for its users.
Android app: Motilal Oswal and Groww both list an Android trading app.
iOS app: Motilal Oswal and Groww both list an iOS trading app.
Web trading platform: Motilal Oswal and Groww 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: Motilal Oswal and Groww 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.
Motilal Oswal vs Groww — Complete Comparison of Trading Platforms
| Trading Platform | Motilal Oswal | Groww |
|---|---|---|
| Android App | Motilal Oswal Android App Link | Groww Android App Link |
| iOS App | Motilal Oswal iOS App Link | Groww iOS App Link |
| Web Trading Platform | Motilal Oswal Web Trading Link | Groww Web Trading Link |
| Trading Terminal | Available | NA |
| 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 Groww 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 Groww offer this feature.
Real time updates: Get timely updates on market trends, stock prices, and other market data. Both Motilal Oswal and Groww offer this feature.
Portfolio details: A detailed snapshot of all investments — stocks, bonds, and commodities — in one place. Both Motilal Oswal and Groww offer this feature.
Online mf buy: Buy or sell mutual funds directly from the trading platform or mobile application. Both Motilal Oswal and Groww 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 Motilal Oswal and Groww offer this feature.
Live market: Live updates on market movements and trends. Both Motilal Oswal and Groww 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 Motilal Oswal and Groww offer this feature.
Motilal Oswal vs Groww — Comprehensive Comparison of Trading Features
| Trading Feature | Motilal Oswal | Groww |
|---|---|---|
| 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 Groww.
Free account opening: Motilal Oswal and Groww both list free account opening.
Free AMC: Motilal Oswal and Groww 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: Motilal Oswal offers Upto Rs.500 per Client while Groww offers Rs.300 per Client for referrals.
Motilal Oswal vs Groww — Comparison of Latest Offers
| Offer | Motilal Oswal | Groww |
|---|---|---|
| Free Account Opening | Yes | Yes |
| Free AMC | 1st Year Free | Yes |
| Free Brokerage | No | No |
| Flat Brokerage | No | Yes |
| Flexible Brokerage Plans | Yes | No |
| Happy Trading Hours | No | No |
| Free Delivery Trading | No | No |
| 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 | No |
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 Groww highlights equity delivery, equity intraday, equity futures, equity options and mutual funds.
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 Groww — Complete Comparison of Products
| Product | Motilal Oswal | Groww |
|---|---|---|
| Equity Delivery | Yes | Yes |
| Equity Intraday | Yes | Yes |
| Equity Option | Yes | Yes |
| Equity Future | Yes | Yes |
| Commodity Option | Yes | No |
| Commodity Future | Yes | No |
| Currency Option | Yes | No |
| Currency Future | Yes | No |
| 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 Groww both list Demat services.
Trading services: Motilal Oswal and Groww both list trading services.
Intraday services: Motilal Oswal and Groww both list intraday trading services.
F&O services: Motilal Oswal and Groww both list F&O services.
IPO services: Motilal Oswal and Groww 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: Motilal Oswal and Groww 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.
Motilal Oswal provides Demat services, trading services, intraday trading, F&O trading, IPO access and stock research, while Groww offers Demat services, trading services, intraday trading, F&O trading, IPO access and share pledging.
Motilal Oswal vs Groww — In-Depth Comparison of Services
| Service | Motilal Oswal | Groww |
|---|---|---|
| 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 | No |
| 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 Groww.
Motilal Oswal and Groww — Detailed Comparison of Advisory Services
| Advisory | Motilal Oswal | Groww |
|---|---|---|
| Fundamental Reports | Yes | No |
| Research Reports | Yes | No |
| Company Reports | Yes | No |
| Annual Reports | Yes | No |
| IPO Reports | Yes | No |
| Technical Reports | Yes | No |
| Stock Tips | Yes | No |
| Daily Top Stock Picks | Yes | No |
| Daily Market Review | Yes | No |
| Monthly Review | Yes | No |
| Weekly Review | Yes | No |
| Relationship Manager | Yes | No |
| Robo Advisory | No | No |
Margin exposure allows traders to manage larger positions with less capital. Below is a comparison of the margin available from Motilal Oswal and Groww across different segments.
Motilal Oswal and Groww — Comprehensive Comparison of Trading Exposure
| Exposure | Motilal Oswal | Groww |
|---|---|---|
| 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 Groww both list a sub-broker program. Motilal Oswal and Groww both list a partner program. Motilal Oswal and Groww both list a referral program.
Motilal Oswal vs Groww — Comparative Analysis of Programs
| Program | Motilal Oswal | Groww |
|---|---|---|
| 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. Groww provides support through call support, email support, website support, Facebook support and Twitter/X support. Motilal Oswal operates Available branches.
Motilal Oswal and Groww — Comprehensive Comparison of Customer Support
| Support Channel | Motilal Oswal | Groww |
|---|---|---|
| Trading Support | Available, Free | NA |
| Dedicated Dealer | Available, Free | NA |
| Call Support | 022-40548000, 022-67490600 | 9108800604 |
| Email Support | [email protected] | [email protected] |
| WhatsApp Support | 8657075050 | NA |
| 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 | 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 Groww carries an overall rating of 9.75 / 10.
Motilal Oswal vs Groww — Ratings Comparison
| Rating Parameter | Motilal Oswal | Groww |
|---|---|---|
| Overall Rating | 9.17 / 10 | 9.75 / 10 |
| Customer Support | 9.13 / 10 | 9.71 / 10 |
| Technology | 9.28 / 10 | 9.87 / 10 |
| Charges | 9.21 / 10 | 9.79 / 10 |
| Products & Services | 9.12 / 10 | 9.69 / 10 |
| Experience | 9.10 / 10 | 9.67 / 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 & Groww — Comparison of Customer Complaints
| Complaint Metric | Motilal Oswal | Groww |
|---|---|---|
| Total Complaints Lodged | 348 | 181 |
| Total Complaints Resolved | 298 | 163 |
| % of Resolved Complaints | 85.63% | 90.06% |
| Non-Actionable Complaints | 6 | 9 |
| % of Non-Actionable Complaints | 1.72% | 4.97% |
Transaction charges are levied by the stockbroker for executing each trade. Below is a segment-wise comparison for Motilal Oswal and Groww.
Motilal Oswal vs Groww — Detailed Comparison of Transaction Charges
| Transaction Charges | Motilal Oswal | Groww |
|---|---|---|
| Equity Delivery | 0.00340% (NSE) & As per Stock (BSE) | 0.00325% (NSE) & 0.00375% (BSE) |
| Equity Intraday | 0.00340% (NSE) & As per Stock (BSE) | 0.00325% (NSE) & 0.00375% (BSE) |
| Equity Future | 0.002% (NSE & BSE) | 0.0019% (NSE & BSE) |
| Equity Option | 0.053% (on premium) | 0.05% (on premium) |
| Commodity Future | 0.0021% (Non-Agri) / 0.006% (Agri) / 0.0005% (Special) | NA |
| Commodity Option | 0.05% (Non Agri) | NA |
| Currency Future | 0.0009% (NSE) & 0.00022% (BSE) | NA |
| Currency Option | 0.035% (NSE) & 0.001% (BSE) | NA |
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 & Groww — Comprehensive Comparison of Pledge Charges
| Pledge Charge | Motilal Oswal | Groww |
|---|---|---|
| Pledge Creation Charges | Rs.35 per Request or 0.02% of Value (whichever is higher) | Free |
| Pledge Invocation Charges | Rs.35 per Request or 0.02% of Value (whichever is higher) | Rs.20 per Request |
| Margin Trading Interest | 0.05% per day | 0.045% 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 Groww — Detailed Comparison of Hidden / Other Charges
| Charge | Motilal Oswal | Groww |
|---|---|---|
| SEBI Turnover Charges | Rs.10/ Crore (All Segment) | Rs.10/ Crore (All Segment) |
| DP Charges | Rs.25 per Scrip only on Sell | Rs.13.5 per Scrip only on Sell |
| GST | 18% on (Brokerage + SEBI + Transaction charges) | 18% on (Brokerage + SEBI + Transaction charges) |
| Account Closure Charges | Rs.100 | Free |
| Reactivation Charges | Rs.50 | Free |
| Dematerialisation Charges | Rs.50 per Certificate | Not Available |
| Call & Trade Charges | Free | Not Available |
Motilal Oswal lists account opening charges of Free and Demat AMC of Rs.300 per Year (1st Year Free). Groww lists account opening charges of Free and Demat AMC of Free.
Motilal Oswal vs Groww — Detailed Comparison of Demat Charges
| Demat Charges | Motilal Oswal | Groww |
|---|---|---|
| Account Opening Charges | Free | Free |
| Annual Maintenance Charges (AMC) | Rs.300 per Year (1st Year Free) | 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.
Motilal Oswal vs Groww — Comparative Analysis of STT and CTT Charges
| STT & CTT | Motilal Oswal | Groww |
|---|---|---|
| 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) | NA |
| Commodity Option | 0.05% on sell | NA |
| Currency Future | Nil | NA |
| Currency Option | Nil | NA |
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 Groww — Comparison of Stamp Duty Charges
| Stamp Duty | Motilal Oswal | Groww |
|---|---|---|
| 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 | NA |
| Commodity Option | 0.003% on buy | NA |
| Currency Future | 0.0001% on buy | NA |
| Currency Option | 0.0001% on buy | NA |