If you are asking whether Freedom24 is safe, you have probably seen the adverts, noticed the Cyprus registration, and read a forum thread or two mentioning Kazakhstan. That mix makes people nervous, and I understand why. So here is the short, honest answer before we go any deeper: Freedom24 is a genuinely regulated EU broker, not a scam, but it is a younger firm with a more complicated corporate history than DEGIRO or Interactive Brokers, and its protection ceiling is lower than what bank deposits get.
Freedom24 is the retail brand of Freedom Finance Europe Ltd, an investment firm licensed by CySEC, the Cyprus Securities and Exchange Commission. It participates in the Cypriot Investor Compensation Fund, which covers eligible clients for up to roughly €20,000 if the firm fails and client assets are missing. Its parent, Freedom Holding Corp, is listed on the US Nasdaq and files audited accounts with the SEC. Those are real, verifiable safety anchors.
At the same time, I would not put my entire portfolio there, and I will explain exactly why. Broker safety is never a yes or no question. It is a question of what is protected, up to what amount, and what you are comfortable with.
Who actually runs Freedom24?
Freedom24 is operated by Freedom Finance Europe Ltd, incorporated in Cyprus and authorised by CySEC as a Cypriot investment firm. You can verify the licence yourself on the CySEC register of Cypriot investment firms. If a firm does not appear on its claimed regulator’s register, walk away.
Methodology: this guide applies our broker rating methodology, from safety-of-assets checks to total-cost math.
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The parent company is Freedom Holding Corp, a group founded by Timur Turlov that grew out of brokerage businesses in Kazakhstan and the wider region. The holding company is listed on the Nasdaq in the United States, which matters more than it might first appear. A US listing means quarterly SEC filings, an external audit, and analyst and short-seller scrutiny that a private Cypriot firm would never face. Transparency is not the same thing as safety, but it is a meaningful ingredient of it.
The group’s roots are also the source of most of the scepticism you will read online. Freedom Holding built its early business in Kazakhstan and Russia, and it drew media and short-seller attention in 2023 over historical compliance practices. The company disputed the central claims, sold its Russian operations, and has continued reporting as a listed company since. That history is not irrelevant, but it is public and examined, which is a very different situation from an offshore broker nobody has ever audited.
Freedom24 regulation and investor protection explained
What CySEC regulation actually gives you
CySEC is a full EU securities regulator operating under MiFID II, the same framework that governs brokers in Germany, the Netherlands or France. That brings real obligations: client money and assets must be segregated from the firm’s own balance sheet, minimum regulatory capital must be held, and regular reporting is mandatory. Cyprus carries a reputational discount from its CFD-broker era, but the legal framework itself is standard EU law.
The Investor Compensation Fund: the €20,000 ceiling
Freedom Finance Europe participates in the Cypriot Investor Compensation Fund (ICF). If the broker became insolvent and client assets could not be returned, the ICF covers 90% of an eligible claim, capped at €20,000 per client. Two things I want to stress. First, this is not deposit insurance on cash parked in an investment account; it is compensation for missing client assets after a failure. Second, the cap is per client, not per account, so opening three accounts does not triple your protection.
The more important protection is the one people overlook: asset segregation. Your ETFs and shares sit in segregated custody, separate from the broker’s own assets, and in a clean insolvency they are returned to clients in full; the compensation fund only matters for whatever is missing. I wrote a full piece on what happens to your ETFs if a European broker goes bankrupt, and the mechanics apply to Freedom24 as to any MiFID firm.
Where your securities are actually held
One practical caveat: like most brokers, Freedom24 holds client securities through a chain of custodians and omnibus accounts, and some instruments may be custodied outside the EU depending on the market. The custody section of the terms spells this out, and I would read it for the instruments you plan to hold. Know where your assets sit before you buy, not after.
How Freedom24 compares with other EU brokers on safety
Numbers below are the headline protection schemes as of early 2026; always verify current terms on the regulator’s and broker’s official pages.
| Safety factor | Freedom24 | Typical incumbent (e.g. IBKR Ireland, DEGIRO) |
|---|---|---|
| Regulator | CySEC (Cyprus, EU/MiFID II) | Central Bank of Ireland / BaFin & AFM (EU/MiFID II) |
| Compensation scheme | Cypriot ICF, 90% of claim up to €20,000 | National schemes, typically up to €20,000 (Ireland: 90% capped at €20,000; Germany: 90% capped at €20,000) |
| Asset segregation | Required under MiFID II | Required under MiFID II |
| Parent transparency | Nasdaq-listed parent, SEC filings, external audit | Listed or long-established parents (IBKR: Nasdaq; DEGIRO: flatexDEGIRO, Frankfurt) |
| Track record as EU broker | EU entity licensed since the late 2010s | Decades (IBKR since 1978 as a group; DEGIRO since 2013) |
| Main criticisms | Group history, aggressive yield marketing, custody chain complexity | Securities lending, order routing, platform complexity |
Notice what the table does not show: a dramatic protection gap. The €20,000-class ceiling is the EU norm for investment firms, not a Cyprus quirk. The honest differences are track record and reputation, not the legal safety net.
Fee figures in this guide are cross-checked against our EU broker fee benchmarks, reviewed quarterly.
The red flags people raise, checked one by one
“It’s from Kazakhstan.” The group’s origins are Kazakh, and its founder is prominent there. Origins alone tell you little; what matters is which entity holds your account and who regulates it. Your contract is with a Cypriot EU firm under MiFID II. I treat the group history as a reason for position sizing, not avoidance.
“There was a short-seller report.” True, in 2023 the parent faced a critical report and media scrutiny, largely around historical Russia-linked business. The company rejected the core allegations, divested its Russian arm, and kept its listing and auditors. Scrutiny survived is information, not a verdict, but I would be misleading you if I said it never happened.
“Will they lend out my shares?” Securities lending is a legitimate question at any broker, and the answer lives in the client agreement, not in marketing pages. I explain how to check this clause anywhere in my guide to brokers lending out ETF shares.
How I would use Freedom24 for ETF investing
If I were opening an account today, I would use Freedom24 for what it does well: broad market access, including US, European and Asian exchanges, and a straightforward way to buy UCITS ETFs with a card or SEPA deposit. My walkthrough of investing in the S&P 500 on Freedom24 shows the practical side takes minutes.
I would also apply three personal rules. First, size the account to the protection: keep uninvested cash at any single investment firm modest, because cash at a broker is not bank-deposit-insured in the same way. Second, own boring, liquid UCITS ETFs, because segregated, liquid assets transfer cleanly if a broker ever fails. Third, skip products you cannot fully explain to someone else, which for most readers means sticking to plain, liquid UCITS ETFs and leaving anything more complicated alone.
If after all this you would simply rather have a longer track record, that is a legitimate preference, not paranoia. My European ETF broker comparison hub covers the alternatives I rate for long-term investors.
My verdict: safe enough, with informed position sizing
Freedom24 passes the tests that matter to me: a verifiable EU licence, MiFID II asset segregation, a compensation scheme in line with EU norms, and a listed, audited parent. Calling it unsafe would be scaremongering. But it is not my pick for a whole-life portfolio either, mainly because of the shorter European track record and a marketing style that leans harder on yield than I like.
By use case: as a secondary account for market access or a specific product, yes, with deliberately sized positions. As the single home for decades of savings, I would personally choose a longer-established incumbent. Either way, verify the licence on the regulator’s register and read the custody clause. Ten minutes of reading beats any review, including mine.
Frequently asked questions
Q: Is Freedom24 a regulated broker in the EU?
A: Yes. Freedom24 is the brand of Freedom Finance Europe Ltd, a Cypriot investment firm authorised by CySEC and operating under the EU’s MiFID II framework. You can confirm the licence directly on CySEC’s public register of Cypriot investment firms before opening an account.
Q: How much of my money is protected at Freedom24?
A: The Cypriot Investor Compensation Fund covers 90% of an eligible claim up to €20,000 per client if the firm fails and assets are missing. Securities in proper segregated custody should be returned in full in an insolvency, so segregation is the primary protection and the fund is the backstop. Verify current terms on the official ICF and broker pages.
Q: Is Freedom24 safe for long-term ETF investing?
A: Structurally it meets the same EU requirements as other MiFID brokers, so holding UCITS ETFs there long term is a reasonable, informed choice. My personal preference for a sole lifetime account is a firm with a longer European track record, with Freedom24 as a secondary account where its market access suits you.
Q: Is Freedom24 connected to Russia or Kazakhstan?
A: The parent group, Freedom Holding Corp, was founded in Kazakhstan and historically had Russian operations, which it sold following 2022. The group is now US Nasdaq-listed with SEC filings and external audits, and your contractual relationship is with the Cyprus-regulated EU entity, not with entities in Kazakhstan.
Q: What happens to my shares if Freedom24 goes bankrupt?
A: Under MiFID II your securities must be segregated from the broker’s own assets, so an administrator would return or transfer them to you or another broker. Only assets that turn out to be missing fall back on the Investor Compensation Fund up to its cap, which is why holding liquid, segregated UCITS ETFs is the strongest everyday protection.
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European UCITS/ETF investor with 11+ years building a global dividend and index portfolio, and founder of Financial Expert Class. I write every guide here from first-hand experience investing across EU brokers and tax regimes — not theory. More about me →