What Freedom Broker does

Freedom Broker, operated as Freedom Finance Global PLC, is a Kazakhstan-based multi-market retail brokerage registered in the Astana International Financial Centre (AIFC) under English common law principles. Founded in 2008 as part of the NASDAQ-listed Freedom Holding Corp. (FRHC) ecosystem (S&P rating: BB-, Stable), the firm serves 340,000+ active retail investor accounts across 21 countries, processing $68 billion in client trading volume in 2024. The platform enables retail access to 10 major global exchanges — NYSE, NASDAQ, European, CIS, and Asian venues — through a single multi-currency account supporting USD, KZT, RUB, and EUR.

The company's core technology is the International Trading System (ITS), an AIFC-regulated trading venue offering 3,000+ global securities (stocks, depositary receipts, ETFs) with a 19-hour trading session and Smart Order Routing for best execution. The product suite extends well beyond brokerage: ITSW (the first Central Asian index ETF tracking 50 global leaders), ITSS (a Shariah-compliant global equity ETF), Single Stock ETFs enabling fractional share purchases at 1/100th of full share prices, options trading, AI-themed equity baskets, and a savings layer comprising the D-Account (daily-yield overnight REPO account tied to SOFR/EURIBOR/KZT rates) and Long-Term Savings Plans offering up to 6% p.a. in USD. Distribution is digital self-serve via web (Tradernet) and native mobile apps (iOS, Android, Huawei AppGallery), supported by 19-language localization, Freedom Academy investor education, and the Finansist print magazine (45,000+ monthly circulation).

Revenue is generated through three primary streams: brokerage commissions on securities transactions (ETFs carry a 0.2%–0.5% TER), interest income on client cash deployed in overnight REPO transactions, and yield spreads on fixed-term savings plans (1/3/6/12 months). The go-to-market is direct-to-consumer: fully remote onboarding averages 22 minutes (record: 2 minutes), with no physical branches. Customer segments include Retail Investors (primary), Index/ETF Investors, Savings-Oriented Investors, and Active/Experienced Traders — all served through a horizontal, retail-focused segmentation. Integration with the Freedom Bank SuperApp and Invest Card extends the brokerage into an adjacent banking ecosystem, supporting cross-sell of investment and banking products within the parent holding company's broader 22-country footprint.

Name

Freedom Broker

Legal name

Freedom Finance Global PLC

Website

https://fbroker.kz

Company type

Private

Founded year

2008

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Freedom Broker operates a multi-market retail trading platform serving 340,000+ individual investors across 21 countries under AIFC regulation in Kazakhstan. The firm offers direct access to 10 global exchanges with ETFs, fractional shares, options, and integrated savings products.

Ownership category

akta.pro rank

Product category

Retail Brokerage

NAICS

Securities and Commodity Contracts Intermediation and Brokerage (5231)

SIC

Security Brokers, Dealers & Flotation Companies (6211)

akta.pro primary industry

Discount & Online Retail Brokerage (FSAEACAB)

akta.pro secondary industry

Options Brokerage (FSAEACAI)

Keywords

• Online brokerage services
• Multi-market trading platform
• Global securities trading
• Retail investment platform
• ETF investment products

Headquarters

HQ city

Almaly

HQ country

Kazakhstan

HQ region

Asia

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Brokerage Commissions: Freedom Broker charges commissions on securities trades executed through its platform. Commission rates are competitive with industry standards; ETF management fee is 0.2% per annum. The platform covers US, European, CIS, and Asian stock markets from a single account.
2. Interest Income on Client Cash (D-Score): Client cash held in D-accounts is deployed in overnight REPO transactions; the yield spread between the REPO rate and the rate paid to clients generates interest income. Current indicative rates: 3.64% p.a. on USD, 2.13% on EUR, 16.7% on KZT.
3. Long-Term Savings Plans: Fixed-term deposit products (1, 3, 6, 12 months) in USD/EUR with rates up to 6% p.a. for USD and 4.5% for EUR. Revenue derived from the spread between REPO yields and rates paid to clients.
4. Platform Access / Account Fees: D-account and core brokerage account maintenance is free. Revenue is generated through trading activity rather than flat account fees.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels7 records

Core offering

Freedom Broker operates a multi-market retail brokerage platform accessible via web (Tradernet) and native mobile apps (iOS, Android, Huawei), connecting clients to 10 major global exchanges through a single multi-currency (USD, KZT, RUB, EUR) account. The platform provides trading in 3,000+ securities (stocks, depositary receipts, ETFs, bonds, options, mutual funds) plus related savings instruments (D-Score daily-yield account, long-term fixed-term plans) and proprietary ETF products (ITSW global index, ITSS Shariah, Single Stock fractional ETFs), serving 340,000+ accounts across 21 countries under an AIFC/AFSA license.

Product overview

Freedom Broker is a multi-market trading platform operated by Freedom Finance Global PLC under AIFC regulation in Kazakhstan. The platform provides access to 10 major global exchanges (US, Europe, CIS, Asia) through a single multi-currency account, offering thousands of securities including stocks, bonds, ETFs, options, and mutual funds. The core offering consists of the Freedom Broker trading platform (web and mobile) and the International Trading System (ITS) for direct access to 3,000+ global securities. The product suite includes specialized ETFs (ITSW index ETF tracking 50 global leaders, ITSS Shariah-compliant ETF), Single Stock ETFs for fractional investing, options trading, and savings products (D-account with daily interest, long-term savings plans with up to 6% annual returns). Additional services include AI-focused investments, bond research, loyalty programs, tax reporting tools, and a Trust Center for security and fraud prevention. The platform serves 340,000 accounts across 21 countries with $68 billion in client trading volume in 2024.

Differentiator

Problem solved

Functional benefit

Brands

• ITS (International Trading System): Trading platform providing direct access to global markets with 3,000+ global securities including stocks, depositary receipts, and ETFs listed on NYSE, NASDAQ, and European exchanges
• ITSW ETF
• ITSS ETF
• Single Stock ETFs
• Freedom Academy
• Journal Finansist

Products and services

• Freedom Broker Trading Platform (Tradernet / Web and Mobile) Browser-based and mobile trading terminal that aggregates access to 10 major global stock exchanges and 3,000+ securities (stocks, depositary receipts, ETFs, bonds, options, mutual funds) under a single multi-currency account, with self-serve onboarding, portfolio monitoring, and trade execution. Targeted at retail investors in Kazakhstan and 20 other countries.
• ITS — International Trading System AIFC-regulated proprietary trading venue providing direct access to 3,000+ global securities — stocks, depositary receipts, and ETFs listed on NYSE, NASDAQ, and European exchanges — with a 19-hour trading session (09:00 to 03:45 GMT+5). Aimed at Freedom Broker retail and professional clients seeking direct international market access.
• ITSW ETF (ITSW — Global Index ETF) First Central Asian global-index ETF tracking 50 of the largest publicly listed companies worldwide, offering investors diversified market exposure comparable to S&P 500-level returns at a Sharpe Ratio of 0.81, with a 0.2% per annum TER and 1 lot priced around $10. Designed for retail investors seeking low-cost, diversified global equity exposure with an AIX-listing tax advantage for Kazakhstani residents.
• ITSS ETF (Shariah-Compliant ETF) First Shariah-compliant (halal) global equity ETF on Kazakhstan's exchange market, comprising 30 screened global components with a maximum 10% weight per company. Listed at $10 per share with 0.5% per annum TER, targeted at Muslim retail investors seeking diversified global equity exposure compliant with Islamic finance principles.
• Single Stock ETFs Suite of fractional-share ETFs that allow retail investors to buy 1/100th of a share in major global brands at an average lot cost under $10, with 0% management TER and proportional dividends. Twelve ETFs are offered, covering Tesla, Amazon, Netflix, AMD, MicroStrategy, Coinbase, and Freedom Holding Corp. among others; aimed at clients seeking low-cost single-name exposure to leading global stocks.
• D-Account (Daily Savings / D-Score) Automatic overnight REPO-based savings sub-account attached to the Freedom Broker trading account, earning daily interest at floating rates tied to SOFR (USD, up to 3.64% p.a.), EURIBOR (EUR, up to 2.13%), and KZT reference rates (16.7%). Funds are accessible at any time with no withdrawal restrictions; minimum $103 to earn yield. Aimed at retail clients seeking hard-currency yield with daily liquidity.
• Long-Term Savings Plans Fixed-term deposit plans with tenors of 1, 3, 6, or 12 months in USD or EUR, offering up to 6% p.a. for USD and 4.5% for EUR. Minimum 1,000 USD/EUR; bonus +0.5% for amounts >=100,000 USD/EUR on terms >=3 months. Early withdrawal forfeits yield but preserves principal. Revenue derived from the spread between REPO yields and rates paid to clients. Designed for clients willing to lock up savings for higher yield.
• Options Trading Derivatives trading capability enabling retail investors to access options markets through the Freedom Broker platform. Targeted at active/experienced traders managing hedging or speculative positions alongside their equity portfolios.

Quantifiable outcome

• $68 billion in client trading volume processed in 2024, demonstrating platform scale and client engagement
• +4 more outcomes

Named customers1 record

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature7 records

Partnerships

Five partnerships are on record, tiered flagship, core and minor.

• Freedom Holding Corp.flagshipOthersFreedom Broker operates as a subsidiary and brand under Freedom Finance Global PLC, which is part of the US-listed Freedom Holding Corp. (NASDAQ: FRHC). The parent provides corporate governance, capital, brand credibility, and operational infrastructure. The broker is an integral part of the broader Freedom financial ecosystem including Freedom Bank, Freedom Lifestyle, and other affiliated entities.
• Astana International Financial Centre (AIFC / AFSA)coreOthersFreedom Broker operates under AIFC regulation with License No. AFSA-A-LA-2020-0019. The AIFC provides the legal framework (English common law basis) and regulatory oversight that enables the broker to offer international securities services from Kazakhstan.
• Freedom BankcoreChannel Partner/ Reseller/ DistributorFreedom Bank (part of the same ecosystem) offers the Invest Card product enabling instant brokerage account funding and cash-out. Integration between banking (Freedom SuperApp) and brokerage (Freedom Broker) creates a seamless retail finance ecosystem with cross-selling of banking and investment products.
• Freedom AcademyminorChannel Partner/ Reseller/ DistributorFreedom Academy (freedomacademy.kz) provides investor education courses including 'Investor Path' and 'Financial Check-Up.' The academy directs students toward opening Freedom Broker accounts, serving as a top-of-funnel acquisition and education partner.
• IPS Capital (ETF Management)minorImplementation/ SI/ Consulting PartnerIPS Capital is the licensed management company for the ITSW, ITSS, and Single Stock ETF products listed on the Astana International Exchange. IPS Capital handles portfolio management and ETF administration, while Freedom Broker distributes the products to retail investors.

Scale indicators8 records

Recent moves6 records

Expansion highlights6 records

Emerging players

• Tiger Brokers: Asia-focused digital brokerage expanding internationally, primarily serving Chinese and other emerging-market retail investors. Comparable focus on emerging-market retail with global securities access via a mobile-first platform.
• Futu Holdings: Hong Kong-based digital broker with mobile-first platform serving Asian and international retail clients. Comparable tech-forward retail brokerage model targeting emerging-market investors with global market access.

Others

• Freedom Holding Corp. NASDAQ-listed parent of Freedom Broker, Freedom Bank, and other subsidiaries. While not a peer on product, it provides direct context on group-level economics, capital structure, and disclosure obligations that flow into the subsidiary.

Regional players

• Kaspi.kz: Kazakhstan super-app combining payments, marketplace, and financial services including brokerage. Comparable local retail fintech ecosystem; competitive overlap is currently tilted toward domestic securities but expanding internationally.
• Halyk Invest: Brokerage arm of Halyk Bank, Kazakhstan's largest bank. Direct Kazakhstan competitor offering a domestic-banking-anchored brokerage play—a comparable in-market ecosystem alternative for Kazakh retail.

Direct peers

• Saxo Bank: Multi-asset, multi-market online broker providing global securities access from a single multi-currency account. Closely comparable on multi-currency, multi-venue trading platform serving active retail and professional clients.
• Trading 212: Commission-free mobile-first retail broker with multi-asset and fractional-share access. Highly comparable on the digital, no-minimum, self-serve mobile brokerage proposition that Freedom Broker deploys in emerging markets.
• Interactive Brokers: Global multi-market, multi-currency online broker offering direct access to 150+ markets in 33 countries. Closest analog to Freedom Broker's multi-exchange, multi-currency retail platform model from a single account.
• eToro: Digital-first retail brokerage with multi-asset access, social trading features, and broad geographic footprint. Comparable in DTC, mobile-led self-serve brokerage model targeting international retail investors.

Broad incumbents

• Robinhood: Pioneer commission-free mobile retail brokerage. Not a direct multi-market competitor but a benchmark for the self-serve mobile UX, fractional-share product, and DTC digital onboarding that Freedom Broker replicates for emerging markets.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/@FreedomBroker
• Facebookfacebook.com/ffinkz
• LinkedInlinkedin.com/company/fbrokerkz
• Instagraminstagram.com/freedom_broker

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

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 Freedom Broker