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As a seasoned trader who has evaluated numerous brokers over the years, I find it essential to approach Motilal Oswal with a high degree of caution, especially regarding forex trading expectations. Based on my review of all available information, Motilal Oswal does not actually offer forex trading, including major currency pairs like EUR/USD, to its clients. Their product range consists of stocks, futures, options, IPOs, mutual funds, commodities, investment funds, and insurance, but not forex or indices. For someone specifically interested in EUR/USD spreads, Motilal Oswal would not be a suitable choice because this asset is simply not available for trading on their platforms. In my experience, some traders new to the Indian markets assume that any large broker would naturally offer popular forex pairs, but regulatory and business factors often mean otherwise. Moreover, even if Motilal Oswal were to provide forex in the future, the absence of regulation and demo accounts, combined with the recent penalties and warnings issued by regulatory authorities, lead me to be extremely conservative about recommending them for any high-risk products. For your own safety and capital preservation, it’s vital to only consider brokers that are both transparent about their forex offerings and fully regulated. In summary, you cannot obtain a EUR/USD spread from Motilal Oswal since they do not support forex trading at this time.