Noble Securities

What Noble Securities does

Noble Securities S.A. is a Warsaw-headquartered, full-service Polish brokerage house operating continuously on the Polish capital market since 1994. As of April 17, 2025, the firm is part of the Skarbiec Holding S.A. capital group while maintaining its independent brand, 101-250 employees, 12 customer service points across Poland, and a multi-channel platform combining digital onboarding and proprietary trading systems (Sidoma On-line, NS Mobile, myNSapp, NSenergy 2.0) with branch-based advisory and the Noble Order SMS notification system. The company serves four distinct customer segments: individual investors (Premium brokerage accounts, IKE/IKZE retirement vehicles, investment advisory, NS Akademia education), institutional clients (brokerage on Polish and international markets, sector research, analyst access), corporate issuers (bond and equity issuance advisory, IPO support, NewConnect/GPW Catalyst authorized advisory, tender offers, shareholder register services — 560+ bond and 30+ equity issuances facilitated cumulatively, raising over PLN 11 billion), and TGE energy/commodity exchange clients (electricity, gas, property rights, agricultural and OZE derivative trading — 20+ years of TGE activity, first brokerage authorized in 2005, multiple Platynowe Megawaty awards).

The firm operates under a Polish Financial Supervision Authority (KNF) license with integrations into GPW, NewConnect, Catalyst, TGE, KDPW, and GlobalConnect markets, and is supported by an in-house research team producing 700+ analytical materials per month, 70+ fundamental recommendations per year, and over 5,000 cumulative investment advisory recommendations. Revenue is generated primarily through brokerage commissions (0.38% on shares, 0.2% on bonds, futures from 9 PLN/contract), investment advisory subscriptions (promotional free tier, standard PLN 50,000 minimum), investment banking fees from capital market issuances, TGE commodity transaction fees, custody and account maintenance, and distribution of investment certificates and open-end funds from 11 TFI partners. The advisory franchise manages over PLN 1.7 billion in AUM with 1,500+ active subscribers, served by a four-tier strategy framework (Conservative, Balanced, Aggressive, Aggressive PLUS) and recently reporting strong portfolio performance (Aggressive PLUS +460% since inception, fundamental portfolio +47% in Jan-Nov 2025 per Parkiet).

The business model combines transactional revenue (commissions, IB fees, TGE fees) with recurring revenue (advisory subscriptions, custody) and is differentiated by its 30-year brand, leading TGE market position, top-ranked retail bond offering franchise (Obligacje.pl), deep research library, multi-channel distribution, and now institutional backing from Skarbiec Holding. The customer base of 50,000+ retail clients and 560+ served corporate issuers across debt collection, real estate development, SME financial services, and private equity sectors indicates low customer concentration. Key constraints include single-country (Poland) geographic exposure, the absence of disclosed AI/ML capabilities in research or advisory, and reliance on retail capital markets activity that is sensitive to market cycles.

Name

Noble Securities

Legal name

Noble Securities Spółka Akcyjna

Website

https://noblesecurities.pl

Company type

Private

Founded year

1994

Operating status

Operating

Headcount range

101–250 employees

Short description

Noble Securities S.A. is a Warsaw-based Polish brokerage house founded in 1994 and part of the Skarbiec Holding S.A. capital group, serving individual, institutional, corporate, and TGE energy clients with brokerage, investment advisory, investment banking, and proprietary trading platforms across Polish and international capital markets.

Ownership category

akta.pro rank

Headquarters

HQ city

Warsaw

HQ country

Poland

HQ region

Europe

Offices13 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Brokerage commissions and trading fees: Noble Securities generates revenue primarily through brokerage commissions charged on securities transactions executed on behalf of clients. Commission rates vary by instrument type: shares at 0.38% min 10 PLN (with discounts for SII/KII members), bonds at 0.2% min 5 PLN, futures contracts from 9 PLN per contract. The company offers fee-free premium brokerage account opening and maintenance.
2. Investment advisory services: Revenue from investment advisory subscriptions, with promotional free service available for certain client groups. Service includes individual recommendations, portfolio management thinking, and strategy support.
3. Capital market issuance services: Revenue from acting as an offering agent for bond and equity public offerings, private placements, and IPO advisory. Noble Securities has facilitated over 560 bond issuances and approximately 30 equity issuances for corporate clients, raising over PLN 11 billion in total capital.
4. TGE commodity market brokerage: Revenue from brokerage services on the Towarowa Giełda Energii (TGE), including electricity, natural gas, property rights, agricultural commodities, and OZE derivative markets. The company was the first brokerage firm to receive TGE authorization in 2005 and is a market leader in energy trading volume.
5. Custody and account maintenance fees: Revenue from maintaining securities accounts and cash accounts for clients. Premium brokerage accounts are offered fee-free, while specialized accounts may carry nominal fees.
6. Investment certificates and fund distribution: Revenue from distribution of investment certificates (FIZ closed-end funds) and open-end fund units (FIO) from 11 different TFI companies. Commissions on certificate and fund sales contribute to overall revenue.

Pricing tiers

Go-to-market motion1 record

Distribution channels8 records

Marketing channels8 records

Core offering

Noble Securities is a licensed Polish brokerage house (dom maklerski) offering brokerage accounts, investment advisory, capital market services, and TGE commodity exchange trading. Core services include execution of securities transactions on GPW, NewConnect, Catalyst, and GlobalConnect, corporate bond and equity issuance support for over 560 issuers, and brokerage on the Towarowa Giełda Energii (TGE) energy and commodity markets. The firm serves retail, institutional, and corporate clients through 12 branches, online platforms, and dedicated advisory teams.

Product overview

Noble Securities is a multi-service brokerage house offering an integrated platform of investment products and services for individual, institutional, and corporate clients. The core offering centers on the Rachunek maklerski Premium (Premium Brokerage Account), supported by complementary savings vehicles — IKE (Individual Pension Account) and IKZE (Individual Elderly Security Account) — all accessible through proprietary digital platforms including myNSapp, Sidoma On-line, and NS Mobile. The Doradztwo inwestycyjne (Investment Advisory) service delivers personalized recommendations through four strategy tiers (Conservative, Balanced, Aggressive, Aggressive PLUS), with Noble Order providing SMS-based rapid recommendation delivery. Beyond retail offerings, the firm provides Investment Banking services (capital raising, M&A advisory, authorized listing advisory), TGE Client Services for energy and commodity markets, and NS Akademia for investor education. The platform enables access to GPW, NewConnect, Catalyst, GlobalConnect, and TGE markets across equities, bonds, ETFs, investment certificates, and derivatives.

Differentiator

Problem solved

Functional benefit

Products and services

• Rachunek maklerski Premium (Premium Brokerage Account)
• IKE (Indywidualne Konto Emerytalne / Individual Pension Account)
• IKZE (Indywidualne Konto Zabezpieczenia Emerytalnego)
• Doradztwo inwestycyjne (Investment Advisory Service)
• Brokerage Account for Family Foundations
• Fundusze Inwestycyjne Otwarte (Open-End Investment Funds Distribution)
• Certyfikaty inwestycyjne (Investment Certificates)
• Obligacje korporacyjne (Corporate Bonds)
• Bankowość inwestycyjna (Investment Banking)
• Obsługa TGE (TGE Commodity Exchange Services)
• NS Akademia (Investor Education Platform)
• Analizy i rekomendacje (Analyses and Recommendations)

Quantifiable outcome

• +460% return on aggressive plus portfolio since investment advisory service inception to February 2026
• +5 more outcomes

Named customers14 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Scale indicators20 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Biuro Maklerskie Banku Handlowego (Citi Handlowy): Brokerage arm of Citi Handlowy bank in Poland, serving affluent retail and institutional clients with brokerage, advisory, and IB services. Comparable premium-segment retail brokerage with bank-affiliated distribution.
• IPOPEMA Securities: Polish investment banking and brokerage firm listed on WSE, providing retail brokerage, investment advisory, IB services, and asset management. Closely comparable in scope to Noble Securities' integrated offering.
• XTB: Polish-listed online retail broker with significant Polish market share, offering multi-asset trading including Polish stocks, ETFs, and CFDs. Direct competitor for retail brokerage accounts and active traders on Polish markets.
• Dom Maklerski BOŚ: Polish online broker with strong retail focus, similar offering across GPW, NewConnect, and Catalyst markets. Comparable mid-size brokerage with online trading platforms and advisory services.
• BDM (Dom Maklerski BDM): Regional Polish brokerage house now part of BNP Paribas group, offering retail and institutional brokerage on Polish markets. Comparable mid-size broker with similar regional branch presence.
• Dom Maklerski PKO BP: Largest Polish brokerage house, part of PKO BP banking group, offering retail brokerage, investment advisory, investment banking, and research across GPW markets. Directly comparable to Noble Securities in product scope and Polish retail/institutional client focus.
• Biuro Maklerskie mBanku: Brokerage arm of mBank, one of Poland's largest online retail brokers with full-service offering including brokerage, investment advisory, and institutional services. Direct competitor to Noble Securities for Polish retail investors.
• Biuro Maklerskie Pekao: Brokerage arm of Bank Pekao, one of Poland's largest banks, providing retail and institutional brokerage, investment advisory, and bond distribution. Direct competitor leveraging banking parent for client acquisition.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/noblesecurities
• YouTubeyoutube.com/@noble-securities
• Facebookfacebook.com/NobleSecurities
• LinkedInlinkedin.com/company/noble-securities
• Instagraminstagram.com/noble_securities

Revenue estimate

Valuation estimate

Number of profiles

Profiles15 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 Noble Securities