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Managing Partner
Nakul leads strategy, technology and product at Sapphire Broking. He writes about how the firm thinks - markets, regulation, and what it takes to build a modern brokerage in India.
Flat ₹20 brokerage. Free equity delivery for the first 7 days. SEBI-registered, Nagpur-based, backed by research you can read right here on the blog.
Open free accountSapphire charges a flat ₹20 per executed order (or 0.03% of turnover, whichever is lower) across intraday, F&O, currency, and commodity segments. Equity delivery is free for the first 7 days after onboarding, then ₹20 per order.
But brokerage is only part of what you pay on a trade. Statutory charges - set by SEBI, the exchanges, and the government - apply on top of brokerage and are passed through unchanged. This post breaks down every line you'll see on a contract note.
Every executed trade is the sum of six things:
Let's say you buy ₹1,00,000 worth of Reliance and sell it the same day at the same price. Total turnover = ₹2,00,000.
| Component | Buy leg | Sell leg | Total |
|---|---|---|---|
| Brokerage | ₹20 | ₹20 | ₹40 |
| STT (0.025% on sell) | - | ₹25 | ₹25 |
| Exchange charges (~0.00322% NSE) | ₹3.22 | ₹3.22 | ₹6.44 |
| GST (18% on brokerage + exch + SEBI) | ₹4.19 | ₹4.19 | ₹8.38 |
| SEBI fee (₹10/crore) | ₹0.10 | ₹0.10 | ₹0.20 |
| Stamp duty (0.003% on buy) | ₹3 | - | ₹3 |
| Total | ₹83 |
Of that ₹83, only ₹40 is brokerage. The other ₹43 is statutory and goes to the exchange, SEBI, or the government - not to Sapphire.
For a ₹2,000 trade, 0.03% of turnover is ₹0.60 - lower than ₹20. We charge the lower of the two, so very small orders pay the percentage version. The crossover is around ₹66,667 of turnover - above that, you always pay ₹20 flat.
Every charge above is reproducible against:
If the numbers on your contract note ever look off, write to compliance@sapphirebroking.com with the trade ID - we'll reconcile against the contract note and the underlying exchange bill.
Note: Statutory charges are revised periodically by SEBI and the exchanges. The rates quoted above are current as of January 2026; the calculator on the site always reads from the latest published rates.
