ARMBROK

What ARMBROK does

ARMBROK, now rebranded to ROQ Capital as of 29.04.2026, is a Yerevan-based private investment company operating under License Number 10 issued by the Central Bank of Armenia on 04.11.2008. The firm provides a full-service suite spanning brokerage, securities portfolio management, investment banking, custody and registrar services, investment funds (including Private Market and Pre-IPO products), and OTC market services to both individual self-directed investors and corporate clients. Its brokerage offering routes to 10+ exchanges across Armenia, the US, Europe, and Asia, providing access to 15,000+ financial instruments, and a self-directed mobile platform is scheduled to launch in Q2 2026 alongside the existing advisor-led model.

The company's revenue model is diversified across four streams: transaction fees on brokerage execution, recurring fees on personalized portfolio management, project-based investment banking mandates, and recurring custody/registrar fees. Distribution is split between a future self-serve mobile channel (individual investors) and direct, sales-led professional consultation (corporate investment banking and high-touch portfolio management), with account funding handled via bank transfer. No public pricing or fee schedule is disclosed.

ROQ Capital differentiates through regulatory standing, multi-jurisdictional exchange access, and a sustained track record of Armenian Stock Exchange and Depository System awards from 2012-2026, further validated by a Fitch rating assigned in March 2025. Headcount is small (11-50), and revenue is not publicly disclosed. The firm's strategy is anchored in regulated domestic leadership and incremental product expansion rather than aggressive fundraising or M&A.

Name

ARMBROK

Legal name

ROQ Capital CJSC

Website

https://armbrok.am

Company type

Private

Founded year

2008

Operating status

Operating

Headcount range

11–50 employees

Short description

ARMBROK, rebranded as ROQ Capital, is a Yerevan-based, Central Bank of Armenia-licensed investment company offering brokerage, portfolio management, investment banking, custody, and funds to individual and corporate clients, with access to 10+ global exchanges.

Ownership category

akta.pro rank

Product category

Investment Services and Brokerage

NAICS

Portfolio Management and Investment Advice (52394), Investment Banking and Securities Intermediation (52315), Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523)

SIC

Security Brokers, Dealers & Flotation Companies (6211), Investment Advice (6282)

akta.pro primary industry

Private Banking Advisory & Discretionary Portfolio Management (FSABADAD)

akta.pro secondary industries

Corporate Finance & Capital Advisory (BPAHADAB), Buy-Side M&A Advisory (FSAEAGAB), Equity Capital Advisory (Private Equity Placements, Growth Capital) (BPAHAOAE), Capital Markets Advisory (IPO Readiness, SPAC, ECM/DCM Advisory) (BPAHAOAL)

Keywords

• Brokerage services
• Asset management
• Investment banking
• Custody services
• Securities trading

Headquarters

HQ city

Yerevan

HQ country

Armenia

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure, Others

Revenue model

1. Brokerage Services: Brokerage services for self-directed investing providing access to global exchanges and financial instruments with execution capabilities across 10+ exchanges and 15,000+ instruments.
2. Securities Portfolio Management: Personalized portfolio management services tailored to client investment goals, providing professional asset management for investors.
3. Investment Banking: Specialized services for corporate clients empowering business in capital markets.
4. Custody and Registrar Services: Custodian and registrar services for securities, including depository system account operation and settlement services.

Go-to-market motion2 records

Distribution channels3 records

Marketing channels4 records

Core offering

ARMBROK (now operating as ROQ Capital) is an Armenia-based investment company providing brokerage services with access to 10+ global exchanges and 15,000+ financial instruments, personalized securities portfolio management, investment banking services for corporate clients, custody and registrar functions for securities, investment funds including Private Market and Pre-IPO products, and OTC market services for favorable-price security purchases. The company is regulated by the Central Bank of Republic of Armenia under License Number 10 and operates through both a mobile app channel for self-directed investors and professional advisory channels.

Product overview

ROQ Capital (formerly Armbrok) is an Armenia-based investment company operating as a full-service brokerage and asset management platform. The company offers a unified suite of financial services including Brokerage (self-directed investing), Securities Portfolio Management, Investment Banking, Custody and Registrar services, and Investment Funds. The platform provides access to 10+ global exchanges and 15,000+ instruments across Armenia, US, Europe, and Asia, with OTC market capabilities and private market/Pre-IPO investment products. The company is regulated by the Central Bank of Republic of Armenia (License Number 10, issued 04.11.2008).

Differentiator

Problem solved

Functional benefit

Products and services

• Brokerage Self-directed investing platform providing access to 10+ exchanges and 15,000+ financial instruments across Armenia, US, Europe, and Asia markets, for individual investors seeking direct exposure to global securities.
• Securities Portfolio Management

Quantifiable outcome

• 10+ exchanges accessible
• +1 more outcomes

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• Primavera FoundationcoreStrategic or Co-development Partner · 28 November 2025Armbrok partnered with Primavera Foundation in November 2025 to promote access to education and social development in Armenia. This collaboration demonstrates the company's commitment to community welfare and social responsibility beyond financial services, supporting children's education initiatives.

Scale indicators3 records

Recent moves5 records

Expansion highlights5 records

Emerging players

• Futu Holdings: Asian digital brokerage providing cross-market access and wealth management to retail clients in frontier regions — comparable cross-border, mobile-led brokerage model.
• Tiger Brokers (UP Fintech): Digital-first brokerage expanding across Asian and emerging markets with mobile-first self-directed investing — directly analogous to ROQ Capital's Q2 2026 mobile platform strategy.

Broad incumbents

• Interactive Brokers: Global multi-asset self-directed brokerage offering access to 150+ markets and broad instrument coverage — the dominant global benchmark for the self-directed access ROQ Capital is launching in Q2 2026.
• Saxo Bank: Multi-asset brokerage and custody platform with similar white-label/institutional reach across global exchanges; directly comparable in product breadth for Armenian retail and institutional clients.

Regional players

• BCS Financial Group: Russia/CIS-focused broker-dealer and investment bank offering brokerage, custody and IB services — comparable scope and regional positioning though primarily serving Russian clients.
• WOOD & Company: Central European brokerage and investment bank serving institutional and retail clients with multi-market access — comparable emerging European full-service model.

Direct peers

• Freedom Holding Corp: Full-service brokerage and investment bank operating across CIS and emerging European markets with brokerage, asset management, IB and custody lines comparable to ROQ Capital's full-service platform.
• Hantec Markets: Mid-sized global retail brokerage offering multi-asset trading with a comparable scale and emerging-markets orientation.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights5 records

Customer concentration

• Xx.com/Armbrok_ojsc
• Facebookfacebook.com/Armbrok
• LinkedInlinkedin.com/company/armbrok-investment-company

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about ARMBROK