Latin Manharlal is a veteran full-service stockbroker based out of Mumbai. Incorporated in the year 1989, LatiManharlal is known for it’s advisory and research services and is counted as one of the best in tips and recommendations.
Latin Manharlal Review
Latin Manharlal claims to serve around 40,000 clients along with its sub-broker and franchise network of around 200 branches, with 7 branches in Mumbai alone.
With its membership of BSE, NSE, MCX, NCDEX and MCX-SX, Latin Manharlal allows its clients to trade and invest in the following segments:
Latin Manharlal allows its clients to trade through terminal based trading software ODIN. ODIN is a flagship trading software that users need to download and install onto their laptop or desktops. Majorly favourable for heavy traders, ODIN Diet has the following listed features:
Access to real-time market data with minimal delay
Customizable dashboard with provision to personalize themes as per user preferences
In-built mutual fund and IPO modules
Unlimited scrips allowed in market watch feature
Highly secure trading experience with SSL enabled
Latin Manharlal Mobile Trading
This mobile app is an attempt by the house of Latin Manharlal, however, it has not really been used much by clients. One of the major reason for the app not being used is its technology limitation. The app requires you to install Adobe air software for the smooth functioning of the app.
This is one little roadblock for users who have the option of using much better and leaner mobile apps these days.
Some of the features of Latin Manharlal Mobile App are:
Market watch feature available in both refresh as well as streaming mode depending on your mobile internet speed.
Real-time order tracking
Inbuilt features to access market reports, tips, recommendations, trading calls
Charting feature to help clients in technical and fundamental analysis
At the same time, here are a few concerns raised by the users of this mobile app:
Issues with the user experience of the app have been reported by the app users.
The number of features is limited.
The app is only suitable for beginner level traders
The full-service stockbroker provides the following communication channels to its clients for support:
Web-chat (only for registered clients)
The number of communication channels provided by this stockbroker are pretty varied in nature and has an amalgamation of both offline as well as online methodologies. This aspect certainly places Latin Manharlal in good books.
At the same time, when it comes to the quality of customer support, the full-service stockbroker does an average-level job only. The support needs to certainly work on providing personalized solutions to their clients rather than going through a template-based response which is not helpful most of the times.
Latin Manharlal Research
When it comes to research, Latin Manharlal – like any other full-service stockbroker, provides assistance to its clients through various kinds of research reports and tips.
Here is a quick overview:
LM’s Tricklet (bi-weekly report i.e. published every 2 weeks, majorly covering the technical research for that duration.
LMSPL Weekend (published every Saturday with research done on the market news over the past week)
Company Report (no specific timeline, generally covers mainstream IPO reports with a recommendation on buy/avoid etc)
Commodity Pivot Table (published daily with pivot table data of promising commodities)
Budget Report (published once a year with detailed research around the budget released by the Indian Government)
Special Reports (published on specific instances that can directly/indirectly impact the Indian economy or the stock market in general)
LM Bulls’ Eye (published once per month with information on specific stocks and corresponding recommendations)
LM Trade Mantra (published every week with generic stock market trends)
These reports are accessible only to the clients of Latin Manharlal and not a generic user unlike in case of brokers such as Angel Broking that is pretty open in terms of their research and shares it with their website users.
Nonetheless, the research provided by this full-service stockbroker looks good for someone who is looking for relatively long-term investments. Short-term tips are not that accurate and need a round of self-analysis before you place the trade.
Having said that, the broker provides a reasonable quality of research overall.
Latin Manharlal Pricing
Let’s quickly have a look at the different charges this full-service stockbroker levies to its clients for using different sorts of services:
Latin Manharlal Account Opening Charges
To open an account with Latin Manharlal, there are no account opening charges but you are supposed to pay a specific charge an annual maintenance fee for your demat account:
Demat Account opening charges
Trading Account opening charges
Demat Account Annual Maintenance Charges
One time ₹1200, No AMC for 10 Years
Trading Account Annual Maintenance Charges
Latin Manharlal Brokerage
Being a full-service stockbroker, Latin Manharlal charges relatively high brokerage charges, as explained below:
₹30 per lot
₹30 per lot
Always remember that whatever brokerage a full-service stockbroker quotes to you, it is open to negotiation. We advise you not to just confirm on a number that the executive quotes to you. Rather have a detailed discussion and try to reduce these charges as much as you can.