Freedom Holding Corp. to launch broker in Turkey

Freedom Financial Services Inc., a subsidiary of Freedom Holding Corp., is going to establish a new broker in Turkey. The company will be named Freedom Investment Securities Inc., as the local regulator has already approved the move.

According to the Turkish Capital Markets Association, there are over 70 brokerage companies in the country. Among the biggest are Yapi Kredi ($1.35 billion), Ak Investment ($539 million) and İş Investment ($469 million).

Both Freedom Holding Corp. and its CEO and founder, Timur Turlov, have frequently discussed entering foreign markets – first and foremost the UAE and Turkey. Turlov has also not ruled out purchasing a European bank. Meanwhile, Aidos Zhumagulov, adviser to the chair of the board of directors at Freedom Bank, mentioned plans to enter the Kyrgyz market.

Currently, the U.S.-registered holding, headquartered in Almaty, operates in 20 countries, including the U.S., Spain, Germany, Ukraine and Uzbekistan. In Uzbekistan, the company already operates Freedom Broker Uzbekistan and Freedom Pay Uzbekistan, and the launch of a bank there is likely just a matter of time.

In 2024, the holding obtained a banking license in Tajikistan. In Kazakhstan, Freedom Holding provides broker services under two brands: Freedom Broker (on the Kazakhstan Stock Exchange) and Freedom Finance Global (on the Astana International Exchange).

The company operates many other subsidiaries under the Freedom brand in Kazakhstan, including Freedom Bank, Freedom Insurance, Freedom Life, Freedom Drive, Freedom Mobile, Freedom Ticketon, Freedom Telecom, Aviata, Chocotravel and Arbuz.kz.