Farhad Moghadamsalimi is an entrepreneur active in the financial markets, with more than three decades of experience in industry, the capital markets and electronic exchange. He founded Farhad Exchange in Iran and is a co-founder and Senior General Manager of Ege Money in Izmir, Turkey. This page summarises his professional background; his full life story is set out in his biography.
Professional path
Industry and the Tehran Stock Exchange
He began his working life in production workshops and factories, and in 1990 set up his own production workshop, “Pishrogam”, in the Saleh-Abad industrial estate. Around 2001 he met Dr Amir-Abbas Kani, then head of the Rahbord brokerage, and this opened his way into the stock exchange. Together they set up the Market Research Centre at the Rahbord brokerage in Tehran. Under Dr Kani’s academic supervision, Farhad Moghadamsalimi became one of the early instructors of technical analysis at the Tehran Stock Exchange, and in 2002 they published technical-analysis tables for Tehran Stock Exchange shares in the Donya-e-Eqtesad newspaper.
Farhad Exchange (2004–2019)
In 2004 he started a Yahoo group for market analysis, which in response to market demand gradually took the name “Farhad Exchange” and in 2009 became the website farhadexchange.com. Farhad Exchange was a platform for exchanging electronic currencies between users and was regarded as one of the early fully automated exchanges in Iran.
The common electronic currencies of that period, before the rise of Bitcoin, were e-gold, c-gold, WebMoney, Perfect Money and Liberty Reserve. Working with these currencies was legal and commonplace in its time. Around 2012 and 2013 Bitcoin was also added to Farhad Exchange’s list of currencies. The buying and selling of the various instruments in this business was always carried out in accordance with the laws of the time, and wherever an instrument was declared legally prohibited, activity with it was stopped.
Cooperation with WebMoney
From 2009 to 2019 Farhad Moghadam Salimi was the official representative of WebMoney in Iran. His role was that of a “registrar” for issuing the WebMoney identity certificate (Personal Passport). That is, he reviewed the documents of WebMoney account holders and verified their identity. This representation did not involve buying or selling WebMoney or carrying out transactions for users.
This cooperation ended in 2019, and he has had no activity in WebMoney since then. Today the use of WebMoney is prohibited in many countries, including Iran, Turkey and European countries. In practice, WebMoney no longer has any use in exchange outside Russia.
His role with WebMoney (2009–2019) was limited to identity verification as registrar for the Personal Passport. It involved no buying or selling and no transactions for users, and it ended in 2019.
From Farhad Exchange to efex.pro
Farhad Exchange operated under that name until 2019. After that it continued under the new brand efex.pro, managed by the team inside Iran. He remains one of the shareholders of efex.pro and takes part in its major decisions; the day-to-day running of the business is the responsibility of the team inside Iran. Since 2019 he has withdrawn no funds from this business and receives no income from it.
Ege Money
The fintech and crypto-asset period (2020 to April 2025)
Since 2019 Farhad Moghadamsalimi has lived and worked in Izmir. Ege Money was registered there on 6 March 2020. In its first years it operated as a fintech company: the egemoney.com platform enabled the buying and selling of crypto assets against Turkish lira and offered market-analysis tools and educational content. During this period the company also developed the EgeMoney RWA real-estate tokenisation programme, the EGEM token and the EgeBlock infrastructure.
After the new Turkish Capital Markets Law was adopted, Ege Money was included in the temporary list of crypto-asset service providers of the Capital Markets Board of Turkey (SPK); it then voluntarily withdrew from this activity. Its crypto-asset services ended in April 2025, and on 17 July 2025 the SPK moved the company to the list of companies in liquidation of this activity. Ege Money now has no activity whatsoever in the field of crypto assets.
Ege Money today
Today Ege Money (Ege Money Investment Yazılım A.Ş.) is active in investment and software, and is managed by Farhad Moghadamsalimi and his wife Marzieh Moghadam Salimi, its only shareholders:
- Investment: the company invests its own capital on Borsa İstanbul.
- Software: it develops stock-market analysis software, particularly for US equities. Its newest project, egemoney.ai, is an artificial-intelligence-based analysis system that is currently a private, internal tool used only to support the company’s own investment decisions.
Ege Money works only with its shareholders’ own capital. It accepts no capital or funds from any customer or third party, and it offers no client services, trading signals or portfolio management for others.
Areas of expertise
- Technical analysis: Elliott Wave analysis, classic chart patterns, on-chain analysis and professional tools such as the ElWave software.
- Fundamental and macro analysis: global markets, including the US dollar index, metals, equities and crypto assets.
- Blockchain and tokenisation: practical experience with crypto-asset economics and the design of real-world asset tokenisation models, gained during Ege Money’s fintech period.
- Risk management: a risk-based approach to volatile markets, applied to the company’s own investments.
- Building financial technology: from founding an electronic exchange platform to developing market-analysis software.
Educational and analytical work
Since 2013 Farhad Moghadam Salimi has published educational content on blockchain in Persian; the “Farhad Moghadamsalimi Crypto School” contains more than 370 educational articles. Every week he publishes analysis of global markets, including cryptocurrencies, the US dollar index, metals and equities, in Persian, English and Turkish. This is educational and analytical content; it is not investment advice or a trading signal.
Transparency
In February–March 2020, Mohammad Jorjandi, manager of the “Webamooz” website, published accusations against Farhad Moghadamsalimi. Farhad Moghadam Salimi himself filed a complaint in court; the accusations were rejected in the courts of Iran, and Mohammad Jorjandi was convicted of publishing falsehoods and insult. To this day, Farhad Moghadamsalimi has no criminal record in either Iran or Turkey. Full details are published in the official response to the allegations and the court ruling in the Jorjandi case.
Sources and further reading
Last updated: 12 November 2026
About the Author
This article was written by Farhad Moghadamsalimi, Senior General Manager of Ege Money and a market analyst with 30+ years of experience in financial markets.