Manubhai Mangaldas Review

An important step in investing in the stock market is deciding which stockbroker to use. It has the ability to significantly impact your investment returns, trading experience, and overall satisfaction. So, in today’s article, we will talk about a comprehensive review of Manubhai Mangaldas, which is one of the leading stockbrokers in India. To help you make an informed decision, we will assess numerous factors such as brokerage fees, customer support, trading platform, and much more.


Manubhai Mangaldas is a Private company headquartered in New Delhi which is founded in 1986 by Manubhai M Bhaga. Manubhai-Mangaldas is a Full Service Broker that strives to provide cost-effective buy/sell orders, helping investors to save money when in comparison with Discount Broker. However, it is vital to note that Manubhai Mangaldas work as a Discount Broker because it offers thorough investment advice and complete stock analysis to its clients. Manubhai Mangaldas is an NSE and BSE-listed company with over Nil branches in India.

OverviewManubhai Mangaldas
Broker TypeFull Service Broker
Type of companyPrivate
HeadquarterNew Delhi
FoundersManubhai M Bhaga
Foundation Year1986
Supported ExchangesNA
Total branchesNil

Manubhai Mangaldas Account opening charges

You need to open a demat account and a trading account, to start trading with Manubhai Mangaldas. So, to open a trading account with Manubhai Mangaldas, you need to pay a fee of Rs.250. However, the trading annual maintenance charges of Manubhai Mangaldas are free. And Demat annual maintenance charges are Rs.250 per Annum. There are also no fees for margin money or transfers from an offline to an online account. And Manubhai Mangaldas is registered with CDSL i.e., Central Depository Services Limited as a Depository Participant (DP).

Account Opening and Demat ChargesManubhai Mangaldas
Trading Account Opening ChargesRs.250
Demat AMC (Annual Maintenance Charges)Rs.250 per Annum
Trading AMC (Annual Maintenance Charges)Free
Margin MoneyMinimum Rs.10,000
Offline to Online ChargesYes
DepositoryCDSL & NSDL

Manubhai Mangaldas Brokerage Charges

Brokerage fees are an important factor to consider when choosing a stockbroker. Here are Manubhai Mangaldas brokerage charges for various segments:

  • Equity delivery: There are no fees for equities delivery trades with Manubhai Mangaldas This implies you can invest in equities without paying any brokerage charges.
  • Equity intraday: Manubhai Mangaldas charges a brokerage fee of 0.022% – 0.044% per order.
  • Equity futures: The brokerage cost for equity futures is 0.022% – 0.044% as well.
  • Equity options: Manubhai Mangaldas charges a brokerage fee of Rs.22 – Rs.44 per Lot for trading equity options.
  • Currency: Unleash your trading potential with Manubhai Mangaldas’s dynamic 0.022% – 0.044% charges.
  • Commodity: For commodity options trading, Manubhai Mangaldas charges a brokerage fee of NA.

Equity Brokerage Charges

Equity Brokerage ChargesManubhai Mangaldas
Equity Delivery Brokerage0.22% – 0.44%
Equity Intraday Brokerage0.022% – 0.044%
Equity Futures Brokerage0.022% – 0.044%
Equity Options BrokerageRs.22 – Rs.44 per Lot

Currency Brokerage Charges

Currency Brokerage ChargesManubhai Mangaldas
Currency Futures Brokerage0.022% – 0.044%
Currency Options BrokerageRs.22 – Rs.33 per Lot

Commodity Brokerage Charges

Commodity Brokerage ChargesManubhai Mangaldas
Commodity Options BrokerageNA

Manubhai Mangaldas Other Charges

  • Minimum brokerage charges: At Manubhai Mangaldas, we’ve revolutionized our fee structure by introducing a unique minimum brokerage charge based on a Percentage of Transaction.
  • Transaction brokerage charges: A transaction brokerage fee of 0.00311% is to be paid by a customer.
  • SEBI turnover charges: The Securities and Exchange Board of India (SEBI) levies a 0.0002% of Total Turnover charge.
  • Stamp duty charges: The total amount of stamp duty charged is determined by the state and the type of asset.
  • GST charges: GST is charged at 18% of (Brokerage + Transaction Charges).
  • STT (Securities transaction tax): STT is levied at a rate of 0.0126% of Total Turnover by Manubhai Mangaldas.
  • Call and trade charges: If you use call and trade service, the charges of Manubhai Mangaldas are NA.
Other Brokerage ChargesManubhai Mangaldas
Minimum Brokerage ChargesPercentage of Transaction
Transaction Brokerage Charges0.00311%
SEBI Turnover Charges0.0002% of Total Turnover
Stamp Duty ChargesAs per the state
GST Charges18% of (Brokerage + Transaction Charges)
STT Charges0.0126% of Total Turnover
Call and Trade ChargesNA

Manubhai Mangaldas Equity Leverage

Leverage allows traders to enhance their market exposure while using a smaller quantity of capital. Manubhai Mangaldas offers Upto 2x times leverage on equity delivery, Upto 5x times leverage on equity intraday, Upto 2x times leverage on equity futures, and Upto 6x times leverage on equity options.

Here is the leverage provided by Manubhai Mangaldas:

Equity LeverageManubhai Mangaldas
Equity DeliveryUpto 2x
Equity IntradayUpto 5x
Equity FuturesUpto 2x
Equity OptionsUpto 6x

Manubhai Mangaldas Currency Leverage

Manubhai Mangaldas also offers currency trading leverage. Leverage is available for Currency Futures up to Upto 3x times and Currency Options Upto 2x times.

Currency LeverageManubhai Mangaldas
Currency FuturesUpto 3x
Currency OptionsUpto 2x

Manubhai Mangaldas Commodity Leverage

Manubhai Mangaldas offers Upto 1x leverage for commodity trading.

Equity LeverageManubhai Mangaldas
CommodityUpto 1x

Manubhai Mangaldas Offers

Many stockbrokers are enticing customers with appealing deals in order to boost their client base. Here are some of the fantastic deals that Manubhai Mangaldas gives to its consumers. They give you a free stock trading account, a free demat account, and various brokerage discounts.

OffersManubhai Mangaldas
Free Stock Trading AccountYes
Free Demat AccountNo
Flexible PlansYes
Brokerage DiscountsYes
Happy HoursNo
1 Month Free PlanNo
Holiday OffersNo
Referral ProgramNo
Zero Brokerage on Loss TradesNo

Manubhai Mangaldas Features

  • Discount Broker:Manubhai Mangaldas, a reputable online stock broker in India, offers regular investors low-cost brokerage services. It imposes a brokerage fee of Percentage of Transaction executed, regardless of trade category, size, or exchange. They also offer Upto 5x trading leverage.
  • Range of Investment Products: Manubhai Mangaldas is a one-stop shop for all of your financial investment requirements. It allows you to trade stocks, commodities, and currencies on the BSE, NSE, and MCX. It also provides investment opportunities in mutual funds, SIPs, gold, peer-to-peer lending, initial public offerings (IPOs), and currency trading.
  • Subscription Plans: Manubhai Mangaldas paves the way for a personalized trading experience with its exclusive selection of subscription plans: the Basic Pack, Power Investor Pack, and Ultra Trader Pack. These services include a variety of features and perks, such as lower brokerage fees, research advisory, free trades, and specialised customer support.
  • Research and Advisory Services: Manubhai Mangaldas differentiates out by offering comprehensive research and advising services. It provides solutions for both short-term and long-term investment ideas, as well as derivative methods and portfolio-based investment ideas. The platform also includes a portfolio analyzer tool for evaluating the overall performance of all your investments.
  • Margin Funding: Manubhai Mangaldas provides margin funding services. These can be used to make partial payments on cash segment transactions. Manubhai Mangaldas lends the remaining balance at a low interest rate.
  • Mobile Trading App and Trading Platforms: Manubhai Mangaldas provides an easy-to-use mobile trading app, as well as a web-based trading platform and an installable trading terminal. These platforms provide flawless trading experiences and are built with cutting-edge technology. The mobile app gives users access to trading, robo-advisory, and a variety of investment choices.
  • Demat Account Services: Manubhai Mangaldas offers demat account services through its membership with CDSL. It has been designated as a top depository participant by the CDSL.
  • Low Charges: Manubhai Mangaldas is recognised in the brokerage sector for having the lowest fees. Unleash your trading potential with Manubhai Mangaldas’s 0.022% – 0.044% brokerage fee and exclusive value-add packs for enhanced benefits. 5Paisa also provides free account opening and no-brokerage mutual funds.
  • Algo Trading and Robo Advisory: Manubhai Mangaldas provides robo-advisory and algo trading services to its clients. These services enable in the automation of trading strategies and provide tailored investment advice based on risk profiles and expected returns.
  • Customer Support: Manubhai Mangaldas offers personally tailored customer service to its consumers. The power investor and ultra trader packs both feature free customer assistance.
FeaturesManubhai Mangaldas
Equity Delivery TradingYes
Equity Intraday TradingYes
Equity Futures TradingYes
Equity Options TradingYes
Currency TradingYes
Commodity TradingNo
IPO (Initial public offering)Yes
Stocks SuggestionsNo
Robo AdvisoryNo
PMS (Portfolio Management Services)No
Trading InstitutionNo
Trading ExposureUpto 5x
Mutual FundsNo
SIP (Systematic Investment Plan)No
Forex TradingNo

Manubhai Mangaldas Advisory Services

The primary distinction between a full-service broker and a discount broker is the range of services given and the prices charged.Manubhai Mangaldas offers research papers with the top recommendations, which are developed by industry specialists. On their website, Manubhai Mangaldas also offers annual reports, as well as daily market reviews and weekly reports.

ServicesManubhai Mangaldas
Fundamental ReportsYes
Research ReportsYes
Company ReportsNo
Annual ReportsNo
Company Stock ReviewNo
Free Stock TipsYes
IPO ReportsYes
Top PicksYes
Daily Market ReviewYes
Monthly ReportsYes
Weekly reportsYes
Offline AdvisoryYes
Relationship ManagerYes

Manubhai Mangaldas Trading Platforms

To fulfil the various needs of its consumers, the Manubhai Mangaldas trading software comprises a number of trading platforms. It was built on the IIFL trading platform, and clients have trusted it for more than two decades now. A web browser-based platform, mobile app and an installable desktop trading application are the three types of trading platforms.

Desktop Trading PlatformsManubhai Mangaldas
Desktop BrowserNo

Manubhai Mangaldas Mobile App

Manubhai Mangaldas offers mobile trading through the Manubhai Mangaldas app, including BSE/NSE trading and robo-advisory services. This app is compatible with iOS, Android, and mobile browsers. With the software, users are able to buy stocks, trade futures and options, and invest in mutual funds, exchange traded funds, bonds, and other investments.

Mobile AppManubhai Mangaldas
Mobile BrowserYes
Android AppYes
iOS AppYes
Windows AppNo
Other Mobile OSNo

Manubhai Mangaldas Customer Support

  • Online trading support: Manubhai Mangaldas can assist customers with online trading. A range of trading platforms are available for traders, including mobile apps, online browsers, and desktop programs.
  • 24*7 support: Manubhai Mangaldas offers its consumers 24-hour support. The customer service team is available and accessible 24/7, which means you can contact them at any time, even during non-business hours.
  • Email support: Customers can contact Manubhai Mangaldas5Paisa’s customer support staff via email if they require assistance. Customers can send their queries and issues to the company’s email address.
Customer SupportManubhai Mangaldas
Relationship ManagerYes
Offline TradingYes
Online TradingYes
24 * 7 SupportNo
Email SupportYes
Chat SupportNo
Toll free numberNo
Support Branches10

Manubhai Mangaldas Complaints

Brokerage firms can assess the quality and reliability of their services by evaluating how many complaints they receive. There are a total of 0 BSE complaints, of which 0 have been resolved, which amounts to NaN % in percentage terms. And, when it comes to NSE complaints, there are 1 of them, with 1 of them resolved, for a percentage of 100.00 %. And the percentage of BSE/NSE complaints resolved is NaN %

The table below highlights the complaints acquired by Manubhai Mangaldas.

BSE ComplaintsManubhai Mangaldas
BSE Complaints0
BSE Resolved Complaints0
Percentage of resolved BSE complaintsNaN %
NSE Complaints1
NSE Resolved Complaints1
Percentage of resolved NSE complaints100.00 %
BSE/NSE Complaint vs. Resolved PercentageNaN %


In conclusion, Explore Manubhai Mangaldas’s intuitive platforms for a diverse range of trading and investment opportunities, tailored to your needs. It is one of the best possibilities for investors, with low prices and a wide range of investment prospects. However, the absence of comprehensive customer support, as well as the number of consumer complaints, are cause for concern. In light of all the features and user experience, Manubhai Mangaldas can be considered a good stock broker, but you must carefully evaluate the pros and cons before choosing it.