I opened my account with motilal oswal in last june.they promised me 1st montg free brokerage in terms of brokerage reversals but it happened only after 7 months and that also after calling them 100s of times, so customer service is poor.Never follow their calls which they give by calling you.Less then 10% meets target other hit the stop loss, a kid can predict better then them.They said strong sell on BHEL at 155 with target of below 100.BHEL is now above 180.After full online processing they also send some form which you have to fill and post.I do not recommend motilal oswal.It is poot in terms of their service and calls as well.