Zerodha vs Motilal Oswal – Broker Comparison

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Zerodha was founded in 2010 and has emerged as a pioneer of discount broking in India. Zerodha tops the list of discount brokers in India and also appeals to traders as well as investors for its low brokerage charges. Zerodha has disruptive pricing models and in-house technology which together makes Zerodha the biggest stockbroker in India in the means of active retail clients, and also biggest by trading volumes on the top Indian stock exchanges.

Motilal Oswal Financial Services (MOFSL), is a full-service stock-broking company that offers its customers well-diversified financial services which are focused on wealth creation through knowledge. Motilal Oswal as a group of companies offers a wide range of financial services such as Retail Wealth Management, Portfolio Management Services, Institutional Broking, Home Finance, Private Equity, Investment Banking Services, and Asset Management.

Choosing between two brokers is dependant on your preferences, your risk appetite, capital in your account and your understanding of the stock market.

Keeping all these factors in mind we have prepared a list of factors which play an important role in influencing the decision of choosing a broker. Kindly find the detailed comparison between these two brokers below:


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Broker Comparison

 
Zerodha ReviewMotilal Oswal Review
Overview
Year of Incorporation20101987
No. of Branches across India112200
Type of BrokerDiscount BrokerFull Service Broker
Exchanges Registered WithNSE, BSE,NCDEX and MCXNSE, BSE, MCX
Account Charges
Trading Account Opening chargesINR 200INR 1000
Demat Account Opening ChargesINR 100INR 0
Trading Account AMCINR 0INR 0
Demat Account AMCINR 300INR 299 (First Year Free)
Mandatory Demat AccountNoNo
Brokerage Charges
Equity DeliveryFree0.5% or 50 Paise
Equity Futures0.01% or INR 20 whichever is lower0.5% or 50 Paise
Equity Intraday0.01% or INR 20 whichever is lower0.5% or 50 Paise
Equity OptionsFlat INR 20INR 70 per Lot
Currency OptionsFlat INR 20INR 70 per Lot
Currency Futures0.01% or INR 20 whichever is lower0.5% or 50 Paise
Commodity TradingFlat INR 200.5% or 50 Paise
Minimum BrokerageNILNIL
Exposure/Leverage
Equity DeliveryNo Margin4X
Equity Futures2.5X3X
Equity IntradayUp to 20XUpto 20X
Equity Options2.5XNo Exposure
Currency Options2.5XNA
Currency Futures2.5XNA
Commodity OptionsNANA
Commodity Future2.5X3X
Trading Platforms
Desktop Trading PlatformZerodha PIOrion Lite
Desktop Platform (Windows)CompatibleCompatible
Desktop Platform (MAC)Not CompatibleNot Compatible
Mobile Trading AppZerodha Kite MobileMO Trader
Mobile App ( Android )AvailableAvailable
Mobile App ( IOS))AvailableAvailable
Web Based Trading PlatformZerodha kite 3.0Available
Future Brokerage calculatorAvailableAvailable
Option Brokerage CalculatorAvailableAvailable
Equity Brokerage calculatorAvailableAvailable
Trading Software ChargesFreeFree
Account Features
3 In 1 AccountNot MandatoryNot Mandatory
ChartingAvailableAvailable
SMS AlertNot AvailableAvailable
Algo TradingAvailableNot Available
Online PortfolioAvailableAvailable
Online DemoAvailableAvailable
Margin Trading`Not AvailableAvailable
NRI TradingAvailableAvailable
Intraday Square-off Timing3.15 PM3.15 PM
Investment Options
BankingNot AvailableNot Available
InsuranceNot AvailableAvailable
ForexNot AvailableNot Available
Mutual Fund SIPNot AvailableAvailable
Equity SIPNot AvailableNot Available
Mutual FundsAvailableAvailable
ETFAvailableAvailable
BondsNot AvailableAvailable
Currency DerivativeAvailableAvailable
CommodityAvailableAvailable
IPONot AvailableNot Available
Equity CashAvailableAvailable
Research
ETF ResearchNot AvailableAvailable
Mutual Fund ResearchNot AvailableAvailable
Equity ResearchAvailableAvailable
TipsNot AvailableAvailable
Daily ReportsNot AvailableAvailable
Quarterly Result AnalysisNot AvailableAvailable
News AlertsNot AvailableAvailable
Customer Service
Email SupportAvailableAvailable
Phone SupportAvailableAvailable
24/7 Customer ServiceNot AvailableNot Available
Online Live ChatNot AvailableNot Available
Toll Free NumberNot AvailableNot Available
Through BranchesAvailableAvailable
Additional Features
Robo AdvisoryNot AvailableNot Available
Market TipsNot AvailableAvailable
Automated TradingAvailableAvailable
3-in-1 AccountNot AvailableNot Available
Complaints / Total Clients Ratio (%)0.02%0.05%
Overall Rating7.2/107/10

Conclusion 

Zerodha offers user-friendly brokerage plans, margin and brokerage calculator. It also charges zero brokerage on equity delivery and zero commission on mutual funds investment. However, Zerodha does not provide monthly investment plans. 

Motilal Oswal offers robust online trading platforms and application for smartphones and tablets. It also offers research reports from its highly skilled financial advisors. However, it has some hidden catches in the brokerage plans and also charges hidden costs to the customer. 

From the above comparison table we can say that for customers who are new to stock market investing Motilal Oswal is more suited since they provide more features and better customer service but for those who have been investing in the stock market Zerodha is a much better option due to low brokerage rates and quality of their trading platforms.

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