Motilal Oswal Review
Motilal Oswal Securities Ltd (MOSL) was incorporated back in the year 1987 and is one of the oldest stockbroking firms in India. MOSL was founded by Raamdeo Agarwal across different financial instruments including:
- Wealth Management
- Retail Broking and Distribution
- Institutional Broking
- Asset Management
- Investment Banking
- Home Finance
- Private Equity
- Commodity Broking
Today, MOSL group allows its customers to trade across:
- Mutual Funds
Motilal Oswal has seen organic as well as inorganic growth in the years of its existence. In 2006, it acquired a south Indian brokerage firm - Peninsular Capital Markets while in 2010, it started dealing with mutual funds after getting approval from SEBI (Securities & Exchange Board of India).
Today, the group has a presence in 2200 locations through its sub-broker and franchise network to go along with around 1 million customers. Motilal Oswal Securities has had its focus on institutional broking but off late it has been gradually pivoting towards full-service retail stock broking.
As per the latest numbers from May 2017, the broker has 2,07,194 active clients (numbers from the National Stock Exchange of India or NSE) across 2000+ different geographies of the country and outside (with its NRI services).
Furthermore, as per the research strength is concerned, this full-service stockbroker has decent visibility and prominence with its team of 40+ research experts.
Motilal Oswal Trading Platforms
The full-service stockbroker has multiple trading platforms across devices offering all sorts of usable features and in this detailed Review, we will talk at length about all these softwares. Here are the details:
Motilal Oswal Desktop Application
If you are looking for super fast execution of trades, then this executable application is for you. This application needs a download from their website and then installed on your desktop or laptop before you start trading.
Some of the features of the desktop application are:
- 1-second rate refresh
- Research reports and recommendations for days, weeks, months, years
- Trade Guide Signal to auto-generate buying and selling ideas
- Allows access to 30,000 research reports within the tool
This trading terminal is known for good speed and decent user experience but at the same time, is a little bulky as well. Thus, to attain a consistent rich trading experience, make sure your computer or laptop configuration is good enough.
The mobile and tablet app is the need of the hour. We, as traders and investors, need real-time information on the move. Mobile apps help us with that and MOSL is also pretty much there with this app of theirs. This app provides the following features:
- Multi-asset watch lists with real-time quotes and advanced charts
- Real-time portfolio monitoring tools
- Funds transfer allowed across more than 60 banks
- Secure mobile trading experience with one-time login feature
At the same time, there are few concerns with the application including:
- Relatively limited number of features
- Few cases observed where the data feed was delayed
Motilal Oswal Smart Watch App
A step even further than mobile and tablets app, Motilal Oswal came up with a SmartWatch app that allows you multitude of features. Like a watch, a trader wears this device on his or her hand and gets access to all sorts of notifications.
Here are the detailed features:
- Instant information on global indices, market top losers and gainers
- Access to Portfolio across asset classes
- Check margin in both cash & commodities segment
- Position updates
The web portal application is a conventional trading platform for users who like to access browser-based applications. Some of the key features of the web portal include:
- Gives a quick snapshot of the account in a single view including cash balance, positions, Order Status, portfolio performance across timelines, and Market data.
- Simple order form across asset classes with integrated market depth and advanced charts
- Provides a flexibility of selecting the Mutual Funds one wishes to purchase or option to choose from expert recommendations.
- Get extensive market information like gainers/losers, most active stocks, top events, news and much more across asset classes integrated with the trading portal.
Some of the concerns with this web-based trading application include:
- User experience, especially navigation across different features can be improved
- The web application is not responsive in nature and in fact, its pretty tough to use this application on any mobile device.
Motilal Oswal Customer Service
The full-service stockbroker provides the following communication channels to their clients:
- Offline Branches
- Social Media
With multiple communication channels, the broker offers a reasonable quality of customer service. The turnaround time is pretty reasonable too, however, the messaging can be improved in terms of personalized communication to clients, generally done through Email or SMS. Assistance provided through online media or telephone is pretty quick and thus, takes away the importance of offline locations.
"The fundamental and technical research of Motilal Oswal encompasses around 225 companies listed on the stock market coming from 25 different industries."
Motilal Oswal Pricing
There are multiple types of charges that you, as a client, as supposed to pay. This includes Account opening, maintenance charges, brokerage, transaction charges, stamp duty, taxes etc.
Motilal Oswal Call and Trade
Call and Trade Platform is suitable when traders or investors don’t have online access. All its clients enjoy Call and Trade services at no additional cost. This is also known as offline trading and is suitable for clients who either don't prefer trading online or don't know how to trade online.
Motilal Oswal Account Opening Fees
To Open an account with Motilal Oswal, You need to pay a minimum of ₹25,000 as an initial deposit into your trading account balance.
Thus, looking at the pricing, it is certainly one of the expensive stock brokers in India.
Motilal Oswal Brokerage
There are a couple of plans Motilal Oswal offers to its customers. Depending on the plan you choose, the brokerage charges differ. The Value Pac is a subscription-based plan where you need to pay a certain upfront amount based on which the corresponding brokerage charges are applied. The payment made in this plan is NON-Refundable.
How does Brokerage Work?
“In case of full-service stockbrokers, the brokerage is percentage based. This implies if Motilal Oswal charges you 0.3% for delivery trades and your trading capital is ₹1,00,000 then the brokerage for that particular trade is ₹300.
Thus, it really depends on your trading capital and based on that the brokerage will be calculated. The minimum brokerage in case of this full-service stock broker is ₹30 for delivery trades and ₹15 for Intraday trades.”
Similarly, the Margin account plan requires you to provide a margin amount, which is refundable, in nature before you start trading.
Use this Motilal Oswal Brokerage Calculator for complete charges and your profit.
For more information, Check out this detailed Motilal Oswal Review.