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As an active trader who frequently assesses brokers based on regulatory standing, fee transparency, and platform accessibility, I approach Motilal Oswal with particular caution. One of my primary concerns is the absence of any valid regulation, which is explicitly highlighted. This lack of oversight makes it difficult for me to trust that the fee structure is always fair or transparent, which is critical for any serious trader managing risk. Regarding fees, the official disclosures on Motilal Oswal’s costs are limited. Unlike many brokers, there is no mention of demo accounts, which would typically allow someone like me to test conditions and experience real spreads before committing funds. The focus at Motilal Oswal appears to be on a broad suite of investment products—stocks, futures, options, mutual funds, commodities, and more. However, there is no mention of forex trading, and crucially, no transparent breakdown of spreads or standard commissions for their listed products. From my experience, brokers that do not openly publish commission rates or spread details make it challenging for traders to gauge their true cost of trading. This is especially significant because I need to factor in every pip and rupee when calculating the cost-effectiveness of my strategies. Given the platform’s high-risk warnings and recent regulatory penalties in India, I am even more conservative. For me, the lack of clear fee schedules means I would only consider this broker after directly confirming fee details in writing and only with funds I am prepared to risk. In the absence of regulatory protection, I cannot confidently recommend Motilal Oswal for trading until more fee and commission details are openly available and verifiable.