What Sepah Bank Brokerage Company does

Sepah Bank Brokerage Company (شرکت کارگزاری بانک سپه) is an Iranian full-service brokerage firm founded in 1967 as a department of Bank Sepah at the inception of the Tehran Stock Exchange, and formally incorporated in 1993 under registration number 98513. The company is a wholly-owned subsidiary of state-owned Bank Sepah (بانک سپه) and operates as a licensed financial intermediary under Article 1, Section 21 of the Capital Market Act, supervised by the Securities and Exchange Organization (SEO) of Iran. It serves three primary customer segments: individual retail investors, professional investors (requiring minimum 10 billion Rial portfolio thresholds), and corporate issuers and institutions, with a stated customer base exceeding 150,000 loyal clients served through 22 branches concentrated in Tehran with newer expansion to Isfahan and Fars province.

The company's core offering is a multi-platform trading infrastructure enabling access to four Iranian exchanges: Tehran Stock Exchange, Iran Fara Bourse, Iran Mercantile Exchange, and Iran Energy Exchange. Trading platforms include Online Plus (web-based with SMS or token two-factor authentication), Hamrah Plus (mobile application), the Internet Trading Portal, the Coinonline Commodity Futures platform, and the recently launched Kaman Trading System, all developed by third-party vendor TadbirPardaz Co. Adjacent services include IPO advisory and listing services (with completed mandates for Pariz Shargh and Peyman Gharb), investment fund distribution (equity, debt, gold, and sector-specific funds), capital financing advisory covering sukuk issuance and capital increases, Saham Edalat (Justice Shares) management, and a substantial educational platform (Sepah Amooz) with 500+ training sessions delivered.

Revenue is generated through five transaction-based streams: brokerage commissions on securities trading, commodity and energy exchange transaction fees, IPO advisory and listing fees, investment fund distribution, and capital financing service fees. Pricing is regulated by the SEO for commissions and not publicly disclosed for advisory work. The company maintains a hybrid go-to-market combining five self-serve digital trading platforms with physical branch distribution and leverages the parent bank's network. It ranks 2nd among 118 brokers in physical market transaction value on the Iran Mercantile Exchange and 4th among 108 active brokers on the Tehran Stock Exchange, placing it among the top tier of Iran's regulated brokerage industry.

Name

Sepah Bank Brokerage Company

Legal name

شرکت کارگزاری بانک سپه

Website

https://sepahbroker.ir

Company type

Private

Operating status

Operating

Headcount range

1–10 employees

Short description

Sepah Bank Brokerage Company is an Iranian full-service brokerage subsidiary of state-owned Bank Sepah, serving retail and institutional investors with multi-platform trading access to equity, commodity, and energy exchanges across 22 branches and digital platforms.

Ownership category

akta.pro rank

Product category

Securities Brokerage

NAICS

Securities and Commodity Contracts Intermediation and Brokerage (5231), Investment Banking and Securities Intermediation (52315), Commodity Contracts Intermediation (523160)

SIC

Security & Commodity Brokers, Dealers, Exchanges & Services (6200), Security Brokers, Dealers & Flotation Companies (6211)

akta.pro primary industry

Full-Service Brokerage (Wirehouse/Universal) (FSAEACAA)

akta.pro secondary industry

Shariah-compliant Financing Products (Murabaha, Ijara, Tawarruq, Istisna, Salam) (FSABAGAH)

Keywords

• Securities brokerage services
• Equity and commodity trading
• IPO advisory and listing
• Investment fund distribution
• Capital financing services

Headquarters

HQ city

Tehran

HQ country

Iran

HQ region

Middle East

Offices7 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Brokerage Commissions on Securities Trading: The company earns commissions from executing buy and sell orders on the Tehran Stock Exchange (بورس اوراق بهادار تهران) and Iran Fara Bourse (فرابورس ایران) for retail and institutional investors.
2. Commodity and Energy Exchange Trading: Revenue generated from commodity trading on Iran Mercantile Exchange (بورس کالای ایران) and Iran Energy Exchange (بورس انرژی), including physical and futures market transactions.
3. IPO Advisory and Listing Services: The company acts as listing advisor (مشاور عرضه و پذیرش) for companies seeking to list on Fara Bourse, generating fees for advisory services. Notable listings include Pariz Shargh (پاریز شرق) and Peyman Gharb (پیمان غرب).
4. Investment Fund Services: Managing and distributing investment fund units (صندوق های سرمایه گذاری), including equity funds, debt funds, gold funds, and sector-specific funds.
5. Capital Financing Services: Providing financing solutions (تأمین مالی) to businesses including capital increase, sukuk issuance, and other debt-based financing instruments.

Pricing tiers

Go-to-market motion2 records

Distribution channels7 records

Marketing channels6 records

Core offering

Sepah Bank Brokerage Company operates as a full-service brokerage firm executing buy and sell orders on the Tehran Stock Exchange, Iran Fara Bourse, Iran Mercantile Exchange, and Iran Energy Exchange for retail and institutional investors. The company provides multiple proprietary digital trading platforms (Online Plus, Hamrah Plus, Kaman, Internet Trading, and Coinonline), complemented by IPO advisory and listing services, investment fund distribution, capital financing advisory (equity and sukuk-based), and the Sepah Amooz financial education platform serving individual and organizational clients across Iran.

Product overview

Sepah Bank Brokerage Company operates as a full-service brokerage firm providing a multi-channel, integrated platform for trading equities, commodities, and energy products on Iranian exchanges. The core offering consists of multiple trading platforms — Online Plus (web-based), Hamrah Plus (mobile app), an internet trading system, a commodity futures platform (Coinonline), and the newly launched Kaman trading system — all accessible to retail and institutional investors. These platforms are complemented by a full suite of services including IPO advisory and listing support, investment fund distribution, commodity and energy exchange trading, financing and capital-raising advisory (covering both equity and debt instruments such as sukuk and bonds), Saham Edalat equity share management, and a comprehensive financial education platform (Sepah Amoz) offering webinars, video courses, reports, and organizational training programs. The company also publishes regular market analysis and reports and provides remote account opening through electronic KYC verification.

Differentiator

Problem solved

Functional benefit

Products and services

• Online Plus Trading Platform (آنلاین پلاس) A proprietary web-based trading platform enabling real-time buy/sell order placement, portfolio management, and market data access for equities on the Tehran Stock Exchange and Iran Fara Bourse. Accessible via web browser with SMS-based OTP or software token authentication, targeted at retail and institutional investors.
• Hamrah Plus Mobile Trading App (همراه پلاس) A mobile trading application enabling investors to access accounts, place trades, and monitor portfolios on smartphones. Supports login via direct Sepah credentials or Mofid Brokerage account integration.
• Internet Trading System (معاملات اینترنتی) A web-based trading system for placing securities orders over the internet with standard username/password login, providing basic securities trading access.
• Coinonline Commodity Futures Trading Platform (معاملات آتی کالا) A dedicated online platform for commodity futures trading, including precious metals (gold, silver), oil products, and other exchange-traded futures contracts listed on the Iran Mercantile Exchange.
• Kaman Trading System (سامانه معاملاتی کمان) A newly launched trading system introduced alongside Online Plus to provide a faster and more streamlined trading experience for customers.
• Online and Offline Securities Trading (معاملات آنلاین و آفلاین بورس اوراق بهادار) Broker-assisted and self-directed trading services for listed securities on the Tehran Stock Exchange and Iran Fara Bourse, covering both equity shares and debt instruments.
• Commodity Exchange Trading (بورس کالا) Trading services for physical commodities listed on the Iran Commodity Exchange, including industrial metals, agricultural products, and energy commodities, via both physical and derivatives markets.
• Energy Exchange Trading (بورس انرژی) Trading services for energy-related instruments listed on the Iran Energy Exchange, including electricity, natural gas, and petroleum products.
• IPO Advisory and Listing Services (مشاوره عرضه و پذیرش) Advisory services guiding companies through the listing and admission process on the Tehran Stock Exchange or Iran Fara Bourse, including IPOs, rights issues, and capital increase methods. The brokerage served as listing advisor for companies including Pariz Shargh and Peyman Gharb.
• Investment Fund Distribution (صندوق های سرمایه گذاری) Various investment fund products including fixed-income funds, equity funds, balanced funds, leveraged funds, sector funds, and real estate investment funds offered to retail and institutional investors seeking professionally managed portfolios.
• Saham Edalat Management (سهام عدالت) Facilitation of transactions and management for Saham Edalat (Justice Shares), a government-allocated equity scheme for eligible Iranian citizens, including inheritance transfer processes for deceased shareholders.
• Capital Financing Services (تأمین مالی) Comprehensive financing and capital-raising advisory including equity-based financing (capital increases, venture capital, private equity), debt-based instruments (sukuk, ijara, murabaha, mudarabah, salaf, mortgaged bonds), project finance funds, REITs, and M&A advisory.
• Market Analysis and Reports (تحلیل و گزارش بازار) Daily, weekly, and monthly market summary reports; fundamental and technical analysis of listed companies and sectors; economic reports; commodity exchange reports; and NAV analysis for investment funds.
• Remote Identity Verification (احراز هویت غیرحضوری) Electronic (non-presential) identity verification service allowing Iranian nationals to open brokerage accounts remotely using smart national ID cards, selfie verification, and video recording without visiting a branch physically.

Quantifiable outcome

• Ranked 2nd among 118 brokers in physical market transaction value on Iran Mercantile Exchange
• +2 more outcomes

Named customers3 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

Partnerships

Ten partnerships are on record, tiered core and minor.

• Bank Sepah (بانک سپه)coreOthersParent bank and primary institutional partner. The brokerage company is a subsidiary of Bank Sepah and benefits from the bank's brand reputation, branch network, and customer base. The bank's branch network serves as an additional distribution channel for brokerage services. Joint participation in exhibitions and events.
• Tamin Sarmaye Omid (تأمين سرمايه اميد)minorStrategic or Co-development PartnerCapital market investment company. Listed as a business partner, likely in the context of investment and financing collaboration.
• Omid Investment Group (شرکت گروه سرمايه گذاري اميد)minorStrategic or Co-development PartnerInvestment holding company in Iran's capital market ecosystem.
• Iran Energy Exchange (بورس انرژي ایران)coreTechnology or IntegrationThe brokerage is an active member and trading participant on the Iran Energy Exchange, executing energy commodity trades for clients.
• Tehran Stock Exchange Technology Management Company (شركت مديريت فناوري بورس تهران)coreTechnology or IntegrationTechnology provider for the Tehran Stock Exchange trading systems. The brokerage integrates with TSETMC systems for market data and order execution.
• Iran Fara Bourse (شركت فرابورس ایران)coreTechnology or IntegrationThe brokerage provides listing advisory (مشاور عرضه و پذیرش) services for companies seeking to list on Iran Fara Bourse and executes trades on the secondary market.
• Central Securities Depository of Iran (شركت سپرده گذاري مرکزي اوراق بهادار و تسويه وجوه)coreTechnology or IntegrationCSDRA handles securities settlement and depository services. The brokerage integrates with CSDRA systems for trade settlement and securities custody.
• Iran Mercantile Exchange (بورس کالای ایران)coreTechnology or IntegrationThe brokerage is a registered member and active trader on IME, providing access to physical and futures commodity markets. Ranked 2nd among 118 brokers in physical market trading value.
• Post Bank Iran (پست بانک ایران)minorChannel Partner/ Reseller/ DistributorPost Bank of Iran, a subsidiary of Bank Sepah group, potentially serves as an additional distribution channel for brokerage services.
• Iran Securities and Exchange Organization (SEO) / Capital Market Intermediaries Association (کانون کارگزاران)coreOthersThe brokerage is a member of the Brokers Association (کانون کارگزاران بورس و اوراق بهادار) and operates under SEO regulatory oversight. The company participated in the extraordinary general assembly of the Brokers Association.

Scale indicators6 records

Recent moves15 records

Expansion highlights5 records

Direct peers

• Agah Brokerage (کارگزاری آگاه): Major Iranian online securities brokerage providing multi-platform trading across Tehran Stock Exchange and Iran Fara Bourse. Competes directly with Sepah Brokerage in online retail trading, IPO advisory, and investment fund distribution for retail Iranian investors.
• Mellat Bank Brokerage (کارگزاری بانک ملت): Wholly-owned brokerage subsidiary of Bank Mellat, another major state-owned Iranian commercial bank. Competes directly with Sepah Brokerage in retail and institutional securities trading, leveraging the parent's nationwide branch network for customer acquisition.
• Eghtesad Novin Brokerage (کارگزاری اقتصاد نوین): Brokerage subsidiary of Eghtesad Novin Bank offering multi-market trading and corporate advisory services. Directly comparable bank-affiliated brokerage competing in the same retail, professional, and corporate client segments as Sepah Brokerage.
• Pasargad Bank Brokerage (کارگزاری بانک پاسارگاد): Bank-affiliated securities brokerage operating under Pasargad Bank, structurally analogous to Sepah Brokerage's relationship with Bank Sepah. Competes directly in equity brokerage, commodity trading, and corporate capital-markets services with the same bank-distribution model.
• Karafarin Bank Brokerage (کارگزاری بانک کارآفرین): Brokerage subsidiary of Karafarin Bank providing securities, commodity, and energy exchange trading. Competes directly with Sepah Brokerage in the bank-affiliated brokerage segment with similar service mix including IPO advisory and investment fund distribution.
• Saman Brokerage (کارگزاری بانک سامان): Bank-affiliated Iranian brokerage providing online and offline securities trading across Tehran Stock Exchange and Iran Fara Bourse. Competes directly with Sepah Brokerage in retail investor acquisition and digital trading platform deployment.
• Tejarat Bank Brokerage (کارگزاری بانک تجارت): Major Iranian bank-affiliated brokerage providing securities and commodity exchange access. Competes with Sepah Brokerage in the top tier of Iranian brokerages ranked by Tehran Stock Exchange and Iran Mercantile Exchange transaction value.
• Mofid Brokerage (کارگزاری مفید): One of the largest and most established online securities brokerages in Iran, directly competing with Sepah Brokerage in Tehran Stock Exchange, Iran Fara Bourse, and online retail brokerage. Notably, Sepah Brokerage's Hamrah Plus mobile app supports Mofid account authentication, evidencing direct competitive overlap in the retail investor segment.

Broad incumbents

• Bank Sepah (بانک سپه): Parent company and state-owned commercial bank. While not a brokerage competitor itself, Bank Sepah's deposit base, corporate lending relationships, and nationwide branch network form the broader financial-services context in which Sepah Brokerage operates and competes for cross-sell wallet share.

Others

• TadbirPardaz Co. (تدبیرپرداز): Third-party technology vendor that developed all of Sepah Brokerage's core trading platforms (Online Plus, Hamrah Plus, Coinonline, Kaman). Functions as an infrastructure provider to much of the Iranian brokerage industry and is therefore an ecosystem participant rather than a direct competitor.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/Sepah_Broker
• Instagraminstagram.com/sepah_broker
• LinkedInlinkedin.com/company/sepah-bank-brokerage

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 Sepah Bank Brokerage Company