Sapphire
Sapphire Broking is a SEBI-registered Indian retail stock broker (NSE, BSE, MCX) offering flat ₹20-per-order trading across equity, F&O, commodities, currencies, US stocks, mutual funds, and IPOs through its proprietary Sapphire Terminal and analytics suite.
- Company typePrivate
- Founded-
- HeadquartersNagpur, India
- Headcount1–10
- GTM typeB2C
- OfferingServices
What Sapphire does
Sapphire Broking is a SEBI-registered Indian retail stock brokerage headquartered in Nagpur, Maharashtra, operating as a partnership firm under the Indian Partnership Act, 1932 (FRN: NG000010895; SEBI Reg. INZ000329823). The firm is a trading member of NSE, BSE, and MCX and an AMFI-registered mutual fund distributor (ARN-333966), with SMC Global Securities acting as its clearing partner and TradingView powering its charts. Its core product is the Sapphire Trading Terminal — a cloud-based, multi-platform (mobile, web, desktop) execution interface covering equity delivery, intraday, F&O, commodities, currencies, US stocks, IPOs, and mutual funds through a single KYC-compliant account activated within 24 hours of onboarding.
The proprietary technology stack extends beyond execution into analytics: SapphireStocks (company research with financials, ownership, peers, and forensic signals), SapphireJournal (institutional-grade trade journaling), and SapphireOptions (options chain, Greeks, payoff builders, and strategy backtests). The firm also offers 27 financial calculators, a Margin Trading Facility at 0.041% per day, a US Stocks add-on with fractional shares, ITR filing via ClearTax integration, and proprietary trading on MCX. No public API or developer portal exists.
Sapphire's revenue model is predominantly transactional: brokerage at the lower of ₹20 per executed order or 0.05% of turnover across segments, DP charges of ₹13 + GST per ISIN transaction, MTF interest, ₹50 per call-and-trade order, and ₹500+GST annual AMC for NRI accounts. Direct mutual funds are distributed at zero commission across 44 AMCs. Customer acquisition runs through digital self-serve onboarding (QR code, app stores), a referral program (10 free orders per signup), and a partner/sub-broker channel targeting chartered accountants and finance enthusiasts. Target segments span resident retail investors, NRIs, HUF, corporate/LLP/trust entities, commodity traders, and active options traders. Founded in 2024 with 7 employees, the firm is in an early scale-up phase against well-funded incumbents such as Zerodha and Groww.
Sapphire firmographics
Firmographics- Name
- Sapphire
- Legal name
- Sapphire Broking
- Website
- https://sapphirebroking.com
- Company type
- Private
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- Sapphire Broking is a SEBI-registered Indian retail stock broker (NSE, BSE, MCX) offering flat ₹20-per-order trading across equity, F&O, commodities, currencies, US stocks, mutual funds, and IPOs through its proprietary Sapphire Terminal and analytics suite.
- Ownership category
- akta.pro rank
Sapphire industry classification
Industry- Product category
- Discount Stock Brokerage
- NAICS
- Securities and Commodity Contracts Intermediation and Brokerage (5231), Commodity Contracts Intermediation (52316)
- SIC
- Security & Commodity Brokers, Dealers, Exchanges & Services (6200), Security Brokers, Dealers & Flotation Companies (6211), Commodity Contracts Brokers & Dealers (6221)
- akta.pro primary industry
- Equities Trade Execution Platforms (ATS/MTF/ECN) (FSAFANAA)
Keywords
Where Sapphire is headquartered
LocationHeadquarters
- HQ city
- Nagpur
- HQ country
- India
- HQ region
- Asia
Offices1 record
Markets served
Sapphire business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure, Others
Revenue model
- Brokerage Fees: Flat ₹20 per executed order or 0.05% of turnover, whichever is lower, across equity delivery, intraday, F&O, commodities, and currency segments. Minimum ₹2.5 per order for equity delivery. NRI accounts charged ₹100/order for futures and options.
- Account Maintenance Charges: Free for first 3 months from onboarding. For BSDA clients with holdings up to ₹4,00,000: NIL. Holdings between ₹4,00,000-₹10,00,000: ₹100+GST annually. Non-BSDA clients: ₹50+GST quarterly.
- Depository Participant (DP) Charges: Equity ISINs: ₹13.00 + GST per transaction. Male: ₹3.5 NSDL fee + ₹9.5 Sapphire fee + GST. Female: ₹3.25 NSDL fee + ₹9.75 Sapphire fee + GST.
- Margin Trading Facility (MTF): MTF Interest at 0.041% per day (₹41/lakh) on borrowed amount. MTF Brokerage of 0.05% or Flat ₹20 per executed order (whichever is lower), minimum ₹2.5 on equity delivery.
- Call & Trade: ₹50 per executed order for orders placed through dealer including auto square-off orders.
- Corporate Action Orders: ₹20 + GST charged for OFS/buyback/takeover/delisting orders placed through Console.
- Direct Mutual Fund Distribution: Zero commission on direct mutual fund investments across 44 AMCs. Sapphire acts as distributor earning from transaction facilitation.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | Equity Delivery - Long-term wealth building |
| Transaction based/ take rate | Pay-as-you-go | F&O & Intraday - Active trading |
| Transaction based/ take rate | Pay-as-you-go | Commodity & Currency |
| Usage-based | Pay-as-you-go | MTF Charges |
| One time/ perpetual license | One-time | Individual Account Opening |
| One time/ perpetual license | One-time | Corporate/Partnership Account Opening |
| Transaction based/ take rate | Pay-as-you-go | NRI Brokerage Charges |
| Freemium | Pay-as-you-go | Direct Mutual Funds |
Go-to-market motion3 records
Distribution channels5 records
Marketing channels6 records
Sapphire product offering
Product offeringCore offering
Sapphire Broking is a SEBI-registered online stock brokerage providing retail and institutional clients with multi-asset trading access across NSE, BSE, and MCX. The platform enables trading in equity delivery and intraday, futures and options, commodities, currency derivatives, mutual funds, IPOs, and US stocks through a unified digital account. The offering is anchored by a proprietary trading terminal supplemented by specialized analytics tools for research, trade journaling, and options analysis.
Product overview
Sapphire Broking is an online stock brokerage platform offering a unified multi-segment trading and investment ecosystem. The core product is the Sapphire Trading Terminal (mobile app and web platform) which provides real-time trading across equity delivery, intraday, F&O, commodities on MCX, currencies, IPOs, and US stocks. The platform includes specialized tools: SapphireStocks for company research, SapphireJournal for trade performance tracking, and SapphireOptions for options analytics. Additional offerings include a suite of 27 financial calculators, Margin Trading Facility (MTF) for leveraged positions, a mutual fund distribution service covering 44 AMCs with zero commission, and a referral program. The ecosystem is completed by educational content through a blog and investor resources.
Differentiator
Problem solved
Functional benefit
Products and services
- Sapphire Trading Terminal
Quantifiable outcome
- Account activated within 24 hours of document submission
- +2 more outcomes
Companies that use Sapphire
Customer profileSegments6 records
Ideal customer profiles4 records
Sapphire technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration4 records
Feature4 records
Sapphire partnerships and signals
Strategic signalPartnerships
Eight partnerships are on record, tiered core.
- SMC Global Securities LtdcoreClearing partner responsible for clearing and settlement services. Handles demat account operations and depository participant services for Sapphire Broking's clients.
- NSE (National Stock Exchange)coreTrading member of NSE (Membership No.: 90481). Provides access to equity, derivatives, and currency markets. Sapphire distributes NSE Mutual Fund schemes through NSE NMF platform (Code: 1027161).
- BSE LimitedcoreTrading member of BSE (Membership No.: 6957). Provides access to equity and derivatives markets. Sapphire distributes BSE Star Mutual Fund schemes (Code: 64321).
- MCX (Multi Commodity Exchange)coreTrading member of MCX (Membership No.: 57565). Provides access to commodity derivatives including gold, silver, crude oil, and agri-commodities. Sapphire also undertakes proprietary trading on MCX.
- 44 Asset Management Companies (AMCs)coreAMFI-registered mutual fund distributor (ARN-333966) distributing schemes from 44 AMCs including HDFC, ICICI Prudential, SBI, Nippon India, Axis, UTI, Tata, and others through NSE and BSE mutual fund platforms.
- NSDL (National Securities Depository Limited)coreDepository services for dematerialization and rematerialization of securities through partnership with clearing partner SMC Global Securities.
- CDSL (Central Depository Services Limited)coreAlternative depository services for demat account operations through clearing partner SMC Global Securities.
- TradingViewcoreCharts and market data powered by TradingView. Provides advanced charting capabilities within the Sapphire Terminal trading platform.
Scale indicators5 records
Recent moves6 records
Expansion highlights5 records
Sapphire competitors and assessment
Company assessmentDirect peers
- 5paisa: Discount broker with SEBI registration offering flat-fee trading across equities, derivatives, commodities, and currency, plus mutual funds and research. Similar pricing structure and self-serve digital model.
- Upstox: Discount broker offering equity, derivatives, commodity, and currency trading on NSE/BSE/MCX with flat-fee pricing and a mobile-first platform. Direct competitor on product, pricing, and target customer.
- Angel One: Full-service-to-discount hybrid broker with NSE/BSE/MCX memberships, flat-fee brokerage, mutual fund distribution, and proprietary research tools. Closely comparable platform breadth and segment coverage.
- Zerodha: India's largest discount stock broker, offering flat-fee equity, F&O, commodity, and currency trading on NSE, BSE, and MCX via Kite, with mutual funds through Coin. Directly comparable on business model, customer segment, and product breadth.
- Groww: Leading Indian online broker and mutual fund platform targeting retail investors with mobile-first onboarding, flat brokerage, and stock + MF distribution. Competes head-to-head in the same mass-retail discount brokerage segment.
Emerging players
- Dhan: Newer Indian online broker with strong focus on active and options traders, offering advanced charting, options analytics, and competitive flat-fee pricing. Comparable in its targeting of the same high-engagement retail and F&O trader segment.
Others
- TradingView: Global charting and social trading platform whose technology Sapphire integrates to power charts in its terminal. Ecosystem participant and infrastructure provider rather than a direct competitor.
Broad incumbents
- Motilal Oswal: Established full-service broker and wealth manager with NSE/BSE/MCX access, mutual fund distribution, and proprietary research. Comparable in product scope but with a fundamentally different (advisory-led) value proposition.
- ICICI Direct: Large incumbent broker from a major private bank, offering equity, derivatives, commodity, currency, mutual funds, IPOs, and US stocks. Comparable in product breadth but differentiated by full-service advisory and a larger customer base.
- HDFC Securities: Bank-backed full-service broker providing trading, mutual fund distribution, IPO, and research services across Indian exchanges. Overlaps heavily on product but with a broader, more traditional service model.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks5 records
Key highlights6 records
Customer concentration
Sapphire social profiles
Digital presenceSapphire compliance and trust
Trust signalCompliance3 records
Sapphire financial estimates
Financial estimateRevenue estimate
Valuation estimate
Sapphire leadership team
Management profileNumber of profiles
Profiles6 records
Sapphire funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Sapphire M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Sapphire
What does Sapphire do?
Sapphire Broking is a SEBI-registered online stock brokerage providing retail and institutional clients with multi-asset trading access across NSE, BSE, and MCX. The platform enables trading in equity delivery and intraday, futures and options, commodities, currency derivatives, mutual funds, IPOs, and US stocks through a unified digital account. The offering is anchored by a proprietary trading terminal supplemented by specialized analytics tools for research, trade journaling, and options analysis.
Is Sapphire a public or private company?
Sapphire is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Sapphire founded?
Sapphire was founded in -1. It employs 1 to 10 people.
Where is Sapphire based?
Sapphire is headquartered in Nagpur, India, in the Asia region.
How does Sapphire make money?
Seven revenue lines are on record. Brokerage Fees are the primary driver. The others are account Maintenance Charges, depository Participant (DP) Charges, margin Trading Facility (MTF), call & Trade, corporate Action Orders and direct Mutual Fund Distribution.
Who are Sapphire's main competitors?
Direct peers on record are 5paisa, Upstox, Angel One, Zerodha and Groww. Dhan is listed as an emerging player. TradingView is listed as an others. Broad incumbents are Motilal Oswal, ICICI Direct and HDFC Securities.
Does Sapphire have an API?
No public API is recorded for Sapphire.
What industry is Sapphire in?
Sapphire's product category is Discount Stock Brokerage. Its primary akta.pro industry code is FSAFANAA, Equities Trade Execution Platforms (ATS/MTF/ECN). Its NAICS code is 5231 and its SIC code is 6200.