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Motilal Oswal Complaints

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With over 35 years of industry experience and a client base which expands to more than 50 lakhs, Motilal Oswal Financial Services Ltd. (MOFSL) has become synonymous with India's investment partner. Incorporated in the year 1987, the financial services firm offers trading services in Equity, Commodity, Currency and Derivatives. It also offers other products like Mutual Funds, IPOs, US Stocks, Gold, Insurance, Fixed Income products and readymade portfolios such as Stock Baskets, Intelligent Adviso...

Complaint against Motilal Oswal Broker

Motilal Oswal brokerage complaints report provide detail about the number of complaints received by the stock exchanges from the Motilal Oswal customers. The Motilal Oswal complaints report analyzes the Motilal Oswal online complaint data provided by BSE and NSE. This report shows the health of the broker.

These complaints are serious grievances against Motilal Oswal broker which the broker and customer failed to resolve. The customer then filed these legal complaints with the stock exchange.

The Motilal Oswal complaint no. report also provides Motilal Oswal’s number of active clients. This shows the growth of the broker year on year.

Motilal Oswal Complaints

Exchange	Financial Year	Total Complaints	Active Clients
NSE	2024-25	129	958,025
BSE	2023-24	99	485,252
NSE	2023-24	498	893,218
BSE	2022-23	33	326,006
NSE	2022-23	516	805,125
BSE	2021-22	50	270,382
NSE	2021-22	445	896,851
BSE	2020-21	12	108,657
NSE	2020-21	491	564,034
BSE	2019-20	60	107,202
NSE	2019-20	332	377,123
BSE	2018-19	30	93,959
NSE	2018-19	187	322,121
BSE	2017-18	50	137,652
NSE	2017-18	160	307,647
BSE	2016-17	23	83,617
NSE	2016-17	119	207,194
BSE	2015-16	29	79,547
NSE	2015-16	116	165,844
BSE	2014-15	46	62,867
NSE	2014-15	127	152,608
BSE	2013-14	42	663,408
NSE	2013-14	120	123,022
BSE	2012-13	50	642,403
NSE	2012-13	119	621,966
BSE	2011-12	80	595,786
NSE	2011-12	134	592,459

Motilal Oswal complaint at NSE

	2024-25	2023-24	2022-23
Active Clients	958025	893218	805125
Complaints	129	498	516
Resolved through the exchange	51	492	460
Non actionable	0	4	8
Advised / Opted for arbitration	0	2	2
Pending for redressal with exchange	78	0	46
No. of arbitration filed by clients	1	9	19
Decided by arbitrators in favour of the clients	0	8	7
Decided by the arbitrators	0	2	1
Pending for redressal with arbitrators	1	1	12

Motilal Oswal complaint at BSE

	2023-24	2022-23	2021-22
Active Clients	485252	326006	270382
Complaints	99	33	50
Resolved through the exchange	79	31	50
Non actionable	16	11	8
Advised / Opted for arbitration	0	1	2
Pending for redressal with exchange	4	2	0
No. of arbitration filed by clients	1	0	1
Decided by arbitrators in favour of the clients	2	0	1
Decided by the arbitrators	1	0	0
Pending for redressal with arbitrators	0	0	0

Note:

* Including against its sub brokers, authorised persons, employees, etc.
** Non actionable means the complaint that are incomplete / outside the scope of the Stock Exchange

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63 Comments

23. satish Awate

| Link|January 7, 2020 2:27:37 PMReply

motilala oswal on of cheated broker in india.
they are deduct money any time without intimation. also taken high interest.
given assitance are not confidant.they are interested to intraday for making brokerage money.they also not having any explanation of deducted money.
indian goverment closed this form which cheat a normal person

22. Ravishankar yadav

| Link|December 9, 2019 7:06:57 PMReply

Dear, Ramdev ji,
Sir mere bina permission ke TGS PACT active kar diya gaya hai. Aur mere balance se 9794/ rupaya deduct kar liya, bina mere permission ke.kindly deactivated my pack. And returned my money.
My client code is EAOPE45385.

22.1. MOFSL

| Link|December 10, 2019 12:18:11 PM

Dear Sir, we have escalated your concern with our relevant team. You will be contacted soon.

22.2. MOFSL

| Link|December 23, 2019 5:23:49 PM

Dear Sir, we understand that our team has contacted you with a resolution. Do let us know if you require any further assistance.

21. Monojit Paral

| Link|November 20, 2019 12:35:46 PMReply

I have a very bad experience in trading with moti lal last one year because their advisor agent always purphased the stocks and made me in loss. i told severali dont understand what to do.
Too much loss i suffered. Without my problem solved no body open an account to Motilal Oswal. And SEBI should take strict action against Motilal oswal.

My clint Code - EAOPE35381

21.1. MOFSL

| Link|November 21, 2019 1:38:55 PM

Dear Sir, we have escalated your concern with our relevant team. You will be contacted soon.

21.2. MOFSL

| Link|November 27, 2019 7:15:50 PM

Dear Sir, we understand that our team has contacted you with a resolution. Do let us know if you require any further assistance.

20. Indu Kumari

| Link|October 18, 2019 12:24:16 PMReply

20.1. MOFSL

| Link|November 5, 2019 1:38:36 PM

Dear Ma'am, we have escalated your concern with our relevant team. You will be contacted soon.

20.2. MOFSL

| Link|November 5, 2019 3:38:43 PM

Dear Ma'am, we understand that our team has contacted you with a resolution. Do let us know if you require any further assistance.

19. Rajesh jagtap

| Link|October 25, 2019 10:40:38 PMReply

Motilal Oswal is the biggest cheater and is enauring customers are at loss. They do RMS SELLING without informing you and that too in a share where u can have maximum loss . Also their associates try to ensure that customer sell equities at loss . Thia guys can't be trusted .request people not to use this site for trading ,I'm in a mess and they have harrased me a lot.Dont want others to suffer ,don't put your hard earned money in Motilal Oswal

18. Pradeep

| Link|October 8, 2019 10:06:00 AMReply

I have open my account on 16th September but till now they don't share my Service agreement/ contract note as agreed while opening my Dmate account is..

1. NO ACCOUNT OPENING CHARGES

2.No AMC CHARGES, ITS LIFETIME FREE ACCOUNT

3.AS ACCOUNT OPENING OFFER AFTER ONE MONTH BY 14 OCT 19 UP TO 1000 BROKERAGE WILL GET REVERSE

4.ZERO BALANCE ACCOUNT ONLY RS 1000 I HAVE TO MAITAIN.

They charge me 21200 brokerage for one day.
Very upset

17. Mimoh

| Link|September 22, 2019 9:59:54 AMReply

I am not trading last one year but they called me and ask for money. i told several time to close my account. but they dont do that. i dont understand what to do.
Too much loss i suffered. Without my problem solved no body open an account to Motilal Oswal. And SEBI should take strict action againest Motilal oswal.

My clint Code - EAOPE6539

17.1. MOFSL

| Link|September 23, 2019 6:16:08 PM

Dear Sir, we have escalated your concern with our relevant team. You will be contacted soon.

16. Kalyan banerjee

| Link|September 6, 2019 5:28:09 PMReply

Worst broker. They are the biggest cheater. Will tell u account opening is free but deduct money for account maintenance service that too Rs 1178 but in zerodha or upstox its way less . They will also deduct money anytime without prior notice. If u want to keep ur precious money safe then dont open any account in #motilaloswal . Also they doesnt let you withdraw money from your account to your bank.

15. Arpit Saxena

| Link|September 4, 2019 4:46:42 PMReply

We are trading by Motilal Oswal. In this, the payment is being debited from the account more than the brokerage, and even after the brokerage, the payment is being debited from the account, in connection with this, I have been mailed to the query department 3 times, but no solution was found to open the account. Time used to call you 10 times but later the phone is not picked up,

14. Jayant

| Link|August 4, 2019 9:55:33 AMReply

Opening demat account charges 2594/-transefer from my account to motilal oswal but they didn't open account. They give reason mobile no. Not attached to account number. I want back my money. Now I shouldn't open account in your company.

13. Kalyan banerjee

| Link|August 20, 2019 5:12:55 PMReply

Motilal oswal cheated me. They said account opening is totally free and I dont have to pay for it and I told them clearly not to put any value pack but when I tried to open the amount they did not say whatever amount I will pay I they will deduct in the name of value pack . Now as I deposited the amount they deducted my money and from Rs 5479 I am having only 460 in my trading account. I am a small investor and only had 5000 as capital money, so I dont have any money to trade. This is cheating from Motilal Oswal.

12. mosl sufer

| Link|July 28, 2019 5:20:27 PMReply

generic Advise to restrain onseself from opening account in Chennai directly with mofsl , you can try sub brokers but strict no directly with company - very bad service in chennai

11. Vishvamber Deshmukh

| Link|July 16, 2019 11:54:01 AMReply

Motilal Oswal is charging very high brokerage. account opening time they talk about low brokerage but when start trade. they are only looting. very lutaru company. please don't open account in Motilal Oswal. very cheating company. i got very loss and pay very big brokerage amount. their adviser also only bandalbag.

10. VIKRAM SINGH

| Link|April 18, 2019 8:39:58 PMReply

Dear MO Team
For your kind information not informed account opening time options brokerage charges
Why extra charge 75 /- take from my account standard charge is 20/lot as per your list

please send back our amount in my demat account

9. RAJINDARR AHUJA ADVOCATE

| Link|April 19, 2019 4:03:43 PMReply

IF THERE IS ANY LOSS DONE BY MY BROKER WITHOUT ME PERMISSION SHOULD I FILE CASE AGAINST MOTI LAL OSWAL AND PARTY TO MY BROKER TOO

THERE IS NET LOSS OF 6.5 LAKH

PLEASE TAKE THE ACTION OR I AM GOING TO FILE SUIT AGAINST MOTI LAL OSWAL

8. Nitin Kadam

| Link|March 14, 2019 1:37:00 PMReply

Very cheap service in Mumbai

7. Alkesh

| Link|March 7, 2019 11:30:47 AMReply

Very very cheap service in Ahmedabad

6. Priya

| Link|February 28, 2019 8:23:21 PMReply

I have opened a demat account with Motilal Oswal Financial Services Ltd. on 15th January 2019. Before opening the account I was assured by Mr. Palash Chatterjee (Manager Sales, Kolkata) that my brokerage will be 1 paisa for intraday and 10p for delivery. After opening the account he advised me to transfer Rs. 50,000 and the copy of the holdings held in my Indiabulls Demat account which I did and sent a confirmation email to him. I was continuously following up with him for reduction of brokerage but he only assured me it will be done tomorrow. Further i took this matter up with their grievances team but got similar kind of responses. I request all investors to stay away for such kind of cheat brokers.

5. Neelambar

| Link|February 25, 2019 3:56:22 PMReply

Do not open trading account on motilal oswal bcoz their brokerages are very high and their researches given are also very very bad. it is better go with discount broker and trade with your own experiences. their research accuracy as per my trading is coming around 20-30% i.e. if they are giving 10 calls then only 2-3 calls hit targets.

4. Pravin Prakash Bandbe

| Link|February 19, 2019 3:10:12 PMReply

I am Pravin Prakash Bandbe having client code RVEL 32. Your agent Rahul Velaskar (Dombivili - Mumbai) has made some transactions through my account & book loss of Rs 10500. Please take action against it

4.1. MOFSL

| Link|February 20, 2019 9:38:29 AM

Dear Sir, we have escalated your concern with our relevant team. You will be contacted soon.