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[Resolved]  Motilal Oswal — very bad method of charging brokerage

good day sir ,

as cited above i hold demat a/c with motilal oswal and icicidirect , months back i b

i trade more in motilal oswal now because of reduced brokerage ie .50ps delivery as against .75ps in icicidirect , around 2 months back i purchased some scrips for which the brokerage is charged at 10ps
as minimum charge why should the co have such parity and charge uneven brokerages

even a co like icici which had minimum brokerage clause of 25rs + taxes is now charging normal rates ie .75
ps so even if i buy shares worth 1000 rs the net bkg is 10

whereas in motilal oswal i purchased 2500 shares at 4.24 and sold the same at 5.04rs i was charged rs 250+tax for a total value of 12500 , where as the actual bkg should have been around 63 rs + taxes

kindly help me out

MY ac details
Prashant M Mehta
#1313 , Pritchard Road ,
Robertsonpet KGF
563122 , [protected] ,[protected]
A/c no NKG209 - Motilal Oswal KGF Branch
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Aug 14, 2020
Complaint marked as Resolved 
Complaint comments  12 CommentsShareTweet

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Dear Prashant,

We request you to please let us know your contact details or alternatively call us on[protected]/ 39982515 or write to us at [protected]@motilaloswal.com, so that we can help resolve your issues.

regards
MOFSL Customer Care
These people post these responses as if they are going to promptly resolve these grievances - which they never do.
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I had Demat account with SBI and Trading account with Motilal Oswal.

Now SBI and Motilal contract will terminate. So Motilal peoples come to me and told that for SBI client Motilal given an offer for Life time AMC free and Other charges are same as SBI.

1) Before open (Transfer) Demat and trading A/c with Motilal I ask about DP charges. The user told me that at the end of month DP what ever DP charges debited from your a/c will be refunded (Credited) to your a/c.

2) There is no minimum Brokerage for daily transaction when SBI. But now they charges minimum Brokerage Charges Rs. 20 + Taxes.

Can I get refund DP charges ?

Can U refund excess Brokerage which are excess charge

Sanjay Kothawade
[protected]

Motilal Oswal — Not Refund Money

i have open online trading A/c with motilal oswal website and pay for this Rs. 1000/- no one can reply from this company and i have lost 1000 rupees for this so plz don't trust on Motilal Oswal.
i agree about motilal cheating. for 400.00 transaction i paid 20.00 rs. as brokerage.
when contacted they said its minimum brokerage even ur tramsaction is of rs. 1.00 also ull be charge minimum rz.20.00 under delivery handling charges. like their fatheris handling
****Motilal Oswal Very Bad Customer Service and Hidden charges****

Hi,

Few days back I bought some share worth Rs. 590.00 (200 quantity @ Rs. 2.95) in delivery and i have paid Rs 6.00 brokerage @1.01% while on the same day i purchase share worth Rs.400.00 (20 quantity @ Rs. 20.00) in delivery and i paid Rs. 1.2 brokerage @ 0..30%.

Apart from that Delivery Handling charges Rs 12.80.

While opening the account i told them to keep me on lowest brokerage with no special plan and i asked many times any other daily or monthly minimum brokerage but they said no. and said orally ( they never give you your brokerage rate in written) that your brokerage intraday is 0.03% while delivery is 0.30%. Also there is section other charges Rs1.00 which do not say what are those charges.

when i sent mail regarding boave issue i got reverse mail from customer care. Now you all see there calculation:


Dear Customer,

With reference to the above mentioned subject, we would like to inform you that the brokerage is charged as the the brokerage table. i.e your brokerage for delivery trade is 0.03 on value.

Further, you have purchased 200 qty @ 2.95, the brokerage is charged on value i.e 200*0.03 which comes to Rs.6/-.

For further clarification we request you to write back to us.

Assuring you for best services always.

Warm Regards

Customer Service Team
Motilal Oswal Securities Ltd.



It seems Motilal Oswal chare brokerage on Qualtity of share not the value of share :):):):)
Worst brokerage house in india..
There will suck all your money with brokerage dealer named - subramani and many will make your ledger zero
i Lost 60000rs in bull market thats what motilal will do for you
there need only brokerage
better buy motilal oswal share for 10years and become rich

T.nagar branch sucks
sales man - Prabhakar
Dealer - subbu
true ... service is also bad. ... i am unable to even see my ledger through motilal oswal webste. when i am told to check backoffice site.. it isnt working... i m unable to understand that viewing the ledger which every client may do now and then ... such link is not kept easy to find. unlike this in IIFL, or sharekhan where i have demat + trading account, viewing ledger is just one click button
Its very true to say that Motilal Oswal has very bad customer responses, their representative even dont cooperate with your issues which only youe DP provider can provide you. Then wats the point bearing AMC charges and where to seek help from ???????? Thats a big issue with MO DP Account.
Aaah!!! What a irregular brokerage rate!!!
They should clarify their all charges. It is disgusting to see that sometimes minimum brokerage is Rs25/-. Irrespective of quantity or price.
MOSL makes me disappointed.
DGS 150 26/12/2017, [protected]@193 ongc and2 coal 363 giving high brokerage

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