February 12, 2026, Almaty
The total number of active client accounts at Freedom Broker as of January 1, 2026 reached 342,000. In 2025, 38.4 million securities transactions were executed and 114,300 new brokerage accounts were opened – 12% more than in the same period a year earlier.
Top 5 Most Popular Stocks Among Freedom Broker Clients (2025)
By Trading Volume
| Kazakhstan Market | U.S. Market | ||||
| Company (ticker) | Trading Volume (USD million) | Company (ticker) | Trading Volume (USD million) | ||
| 1 | NAC Kazatomprom JSC (KZAP) | USD 41.2 million | 1 | Petrobras (PBR) | USD 9,698.6 million |
| 2 | NAC Kazatomprom JSC (KZAPD) | USD 16.5 million | 2 | Occidental Petroleum Corporation (OXY) | USD 5,532 million |
| 3 | Kaspi.kz JSC (KSPI) | USD 16.3 million | 3 | Nvidia (NVDA) | USD 5,394.8 million |
| 4 | Nvidia (NVDA_KZ) | USD 15.6 million | 4 | Tesla (TSLA) | USD 3,383.3 million |
| 5 | Intel Corporation (INTC_KZ) | USD 15.1 million | 5 | Newmont Corporation (NEM) | USD 3,345.9 million |
By Number of Transactions
| Kazakhstan Market | U.S. Market | ||||
| Company (ticker) | Number of Transactions (thousand) | Company (ticker) | Number of Transactions (thousand) | ||
| 1 | ForteBank JSC (ASBN) | 42.1 thousand | 1 | Nvidia (NVDA) | 200.6 thousand |
| 2 | NAC Kazatomprom JSC (KZAP) | 38.8 thousand | 2 | Tesla (TSLA) | 174.3 thousand |
| 3 | Air Astana JSC (AIRA) | 34.5 thousand | 3 | Marathon Digital Holdings (MARA) | 94 thousand |
| 4 | Kaspi.kz JSC (KSPI) | 23.5 thousand | 4 | Advanced Micro Devices Inc (AMD) | 82.1 thousand |
| 5 | KEGOC JSC (KEGC) | 17.4 thousand | 5 | Palantir Technologies (PLTR) | 75.7 thousand |
In the fourth quarter, Freedom Broker continued strengthening its technological partnership with ITS (International Trading System), aimed at improving client service quality. ITS is the leading trading venue by volume for Freedom Broker clients, with the Company’s share reaching 91%.
On December 29, 2025, Freedom Finance Global received an updated license from the Astana Financial Services Authority (AFSA), the regulator of the Astana International Financial Centre. Under the updated license, the Company secured the right to provide custody services to its clients both internally within the broker (Providing Custody) and to arrange custody of client assets with other clearing and settlement organizations (Arranging Custody).
As part of expanding the range of instruments offered to clients, in December Freedom Finance Global signed a memorandum of understanding with Binance Kazakhstan to explore opportunities for strategic cooperation in crypto services. The integration of Binance solutions into Freedom Broker’s infrastructure is planned to provide clients with access to trading and managing digital assets.
An important step in strengthening regional development was the opening of the renovated Freedom Broker office in Atyrau. The modern space combines consultation areas, a training hall, digital infrastructure, and the region’s first Freedom Academy aimed at improving financial literacy. Over 10 years, the branch has become one of the company’s key strategic centers in the country.
Freedom Broker continues to maintain leadership in the KASE members activity ranking. Based on 2025 results, Freedom Finance Global ranked first in two market sectors – corporate bonds and government securities – while Freedom Finance JSC ranked first in the REPO sector.
As of January 1, 2026, Freedom Broker acts as a market maker for 96 securities listed on the Kazakhstan Stock Exchange (KASE), 28 securities on Astana International Exchange (AIX), and 2,900 securities on ITS.
Results of Freedom Finance Global for 2025
Freedom Finance Global’s assets amounted to USD 295.8 million at the end of the reporting period. The 11.8% annual increase was driven by growth in cash and cash equivalents on the Company’s accounts by USD 88.5 million, or 206%.
Liabilities decreased by USD 93.1 million, or 59%, to USD 65.6 million. The decrease was primarily due to dividend payments to the shareholder in the amount of USD 94 million, accrued in the previous reporting period.
Equity as of December 31, 2025 amounted to USD 369.1 million, increasing by USD 263.1 million, or 248%, during the reporting period as a result of retained earnings growth.
Net profit for the reporting period amounted to USD 115.1 million, decreasing by 33.5% compared to the same period a year earlier. This was largely driven by an increase in operating expenses by USD 64.3 million, or 168%. At the same time, interest income increased by USD 52.6 million, or 19%. Commission expenses increased by USD 104.3 million, or 77%, while commission income grew by USD 72.7 million, or 107%.
Results of Freedom Finance JSC for 2025*
As of January 1, 2026, assets decreased by KZT 80.1 billion, or 28%, compared to January 1, 2025, totaling KZT 205.5 billion. The decrease was mainly due to a decline in the fair value of securities following two base rate increases by the National Bank in 2025, as well as the sale of part of the trading portfolio and a simultaneous reduction in direct REPO operations by KZT 111 billion, or 91.5%.
Liabilities decreased by KZT 112.5 billion, or 91%, to KZT 11.2 billion due to the above-mentioned reduction in direct REPO operations.
Equity increased by KZT 32.4 billion, or 20%, compared to January 1, 2025, reaching KZT 194.4 billion. Share capital was increased by KZT 24.5 billion to KZT 128 billion.
Net profit for the year amounted to KZT 7.9 billion. The 17% decrease compared to the previous year, or KZT 1.6 billion, was mainly due to the decline in the fair value of securities in the trading portfolio.
Notes:
Key financial indicators are based on the separate (unaudited) financial statements of Freedom Finance JSC as of January 1, 2026.
Freedom Finance Global is a broker offering new opportunities and specializing in retail investor services. The Company is registered with the AIFC, licensed by AFSA, and operates under elements of English law. Clients of Freedom Finance Global have direct access to exchange operations in international financial markets (NYSE/NASDAQ, London Stock Exchange, HKEX, Frankfurt Stock Exchange), as well as KASE and AIX, and to the holding’s most popular service – participation in initial public offerings (IPOs).
Freedom Finance JSC provides brokerage services on KASE and AIX, market-making services to support securities quotations, debt and equity financing organization, and financial advisory services.
The companies are part of the international investment group Freedom Holding Corp. The holding’s shares have been listed since October 15, 2019 on the Nasdaq Capital Market under the ticker FRHC. Freedom Holding Corp. is regulated by the U.S. Securities and Exchange Commission (SEC).
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