Zerodha₹20 per order on options · delivery ₹0
- Options brokerage
- ₹20 per order
- Account opening
- ₹0
- Demat AMC
- Free in year 1; then ₹0–₹300 + GST a year depending on holdings (BSDA)
Broker comparison
Zerodha vs.
Motilal Oswal
Which broker fits your needs?
Platforms, products and fees side by side.
Checked on Thu, 5 Nov, 2026
See comparisonZerodha
Motilal OswalVS
Summary
Your goal decides
With one lot per order, both charge ₹20 in options brokerage, and statutory charges such as STT are the same at both, so the choice comes down to delivery charges, AMC, platform and tools. Zerodha: The discount broker most active traders started with; Kite platform and free Varsity lessons. Motilal Oswal: Full-service broker that charges options brokerage per lot.
ZerodhaThe discount broker most active traders started with; Kite platform and free Varsity lessons.
Motilal OswalFull-service broker that charges options brokerage per lot.
At a glance
The key differences
| Criterion | Zerodha | Motilal Oswal |
|---|---|---|
| Platforms | Kite Web, Kite App, Console | MO Investor app, RIISE app, MO API |
| Product types | Indian Stocks, F&O, Commodities, Currency, Mutual Funds, Bonds | Indian Stocks, F&O, Commodities |
| Options trading | Yes: NSE and BSE index and stock options | Yes: NSE and BSE index and stock options |
| Fee model | ₹20 per order on options · delivery ₹0 | ₹20 per lot on options · delivery 0.20% |
| Account opening | ₹0 | ₹0 |
| Demat AMC | Free in year 1; then ₹0–₹300 + GST a year depending on holdings (BSDA) | ₹0 in year 1 (the later charge is not on the page we checked) |
| Regulation | SEBI INZ000031633 | SEBI INZ000158836 |
| More information | Details | Details |
Platforms
Zerodha
Kite Web, Kite App, Console
Motilal Oswal
MO Investor app, RIISE app, MO API
Product types
Zerodha
Indian Stocks, F&O, Commodities, Currency, Mutual Funds, Bonds
Motilal Oswal
Indian Stocks, F&O, Commodities
Options trading
Zerodha
Yes: NSE and BSE index and stock options
Motilal Oswal
Yes: NSE and BSE index and stock options
Fee model
Zerodha
₹20 per order on options · delivery ₹0
Motilal Oswal
₹20 per lot on options · delivery 0.20%
Account opening
Zerodha
₹0
Motilal Oswal
₹0
Demat AMC
Zerodha
Free in year 1; then ₹0–₹300 + GST a year depending on holdings (BSDA)
Motilal Oswal
₹0 in year 1 (the later charge is not on the page we checked)
Regulation
Zerodha
SEBI INZ000031633
Motilal Oswal
SEBI INZ000158836
Product access and costs depend on market, account and permissions.
Detailed comparison
Comparing fees
Compare total costs, not just the order fee.
ZerodhaMotilal Oswal₹20 per lot on options · delivery 0.20%
- Options brokerage
- ₹20 per lot
- Account opening
- ₹0
- Demat AMC
- ₹0 in year 1 (the later charge is not on the page we checked)
The relevant costs depend on market, currency, order size and trading style.
Real costs
What 20 options trades a month cost
Zerodha
- Brokerage per order
- ₹20
- All charges, 20 round trips
- ₹1,252
- Per year
- ₹15,027
Motilal Oswal
- Brokerage per lot
- ₹20
- All charges, 20 round trips
- ₹1,252
- Per year
- ₹15,027
Illustrative: one Nifty lot (65) bought and sold at ₹100, 20 times a month, including STT, exchange charges, SEBI fee, stamp duty and GST. Use your own numbers.
Execution quality
Order type, venue and liquidity affect execution.
ZerodhaCheck the provider’s execution policy and available order types for your account.
Provider informationMotilal OswalCheck the provider’s execution policy and available order types for your account.
Provider informationProduct range
ZerodhaIndian StocksF&OCommoditiesCurrencyMutual FundsBonds
Motilal OswalIndian StocksF&OCommodities
Categories come from broker profiles. Check specific markets and permissions before deciding.
Trading platforms
ZerodhaKite Web · Kite App · Console
Option chain on Kite, opened from an instrument, a contract search or the charts section. Basket orders, including a basket mode on the option chain that adds several strikes to one basket for spreads and straddles. GTT (Good Till Triggered) orders are available for F&O contracts and stay active for up to a year. Margin calculator under Zerodha's utilities, and Sensibull integration for strategy building and position analysis. Kite Connect API: a free Personal tier for orders, GTT and portfolio, and a Connect tier at ₹500 a month that adds live WebSocket data and historical candles.
Explore platformMotilal OswalMO Investor app, RIISE app, MO API
Full-service broker that charges options brokerage per lot.
Explore platformRegulation does not prevent market losses. The relevant authority depends on the contracting entity.
Your investor profile
Who might it suit?
ZerodhaThe discount broker most active traders started with; Kite platform and free Varsity lessons.
- Fast, stable Kite platform
- Free delivery trades
- Large free learning library (Varsity)
- Some analytics tools are third-party add-ons
- AMC after the first year for larger holdings
Motilal OswalFull-service broker that charges options brokerage per lot.
- No account opening charge
- Strategy builder and option value calculator on its site
- Options brokerage is per lot, so orders of several lots cost more
- Percentage-based delivery brokerage
Your questions
Frequently asked questions
Is Zerodha or Motilal Oswal cheaper for options trading?
With one lot per order, both charge ₹20 in options brokerage. STT and other statutory charges are the same at every broker; differences are in delivery charges, AMC and tools.
Are Zerodha and Motilal Oswal regulated?
Both are SEBI-registered stock brokers and members of NSE and BSE.
Can I have accounts with both Zerodha and Motilal Oswal?
Yes. You can hold demat and trading accounts with more than one broker; each charges its own AMC.
Does the broker change STT or exchange charges?
No. STT (0.15% of premium on the sell side), exchange charges, the SEBI fee and stamp duty are the same at every broker. Only brokerage and account charges differ.
Your next step
Your next step
ZerodhaThe discount broker most active traders started with; Kite platform and free Varsity lessons.
Open accountRead reviewMotilal OswalFull-service broker that charges options brokerage per lot.
Open account