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Two regulators license brokers in Kazakhstan: the Agency for Regulation and Development of the Financial Market (ARDFM) for firms under national law, and the Astana Financial Services Authority (AFSA) for firms in the Astana International Financial Centre, which operates under English law.
Brokers licensed in Kazakhstan
| Company | Regulator | Offering |
|---|---|---|
| Freedom Finance | ARDFM, AFSA; CySEC within the group | US and Kazakh stocks, bonds, ETFs |
| Halyk Finance | ARDFM | Brokerage, bonds, IPOs |
| Jusan Invest | ARDFM | Stocks, bonds, mobile app |
| BCC Invest | ARDFM | Brokerage arm of Bank CenterCredit |
| Centras Securities | ARDFM | Brokerage and dealing |
International brokers for clients from Kazakhstan
| Rank | Broker | Regulators | Platforms | Broker-Pro score | Review |
|---|---|---|---|---|---|
| 1 | Pepperstone | FCA, ASIC, CySEC | MT4, MT5, cTrader, TradingView | 7.3/10 | Review (RU) |
| 2 | AvaTrade | CBI, ASIC, FSCA | MT4, MT5, AvaOptions | 7.1/10 | Review (RU) |
| 3 | Capital.com | FCA, CySEC, ASIC | Proprietary, MT4, TradingView | 7.1/10 | Review (RU) |
| 4 | Saxo Bank | Danish FSA, FCA, ASIC | SaxoTraderGO, SaxoTraderPRO | 7.0/10 | Review (RU) |
| 5 | Swissquote | FINMA, FCA | MT4, MT5, proprietary | 7.0/10 | Review (RU) |
| 6 | FXCM | FCA, ASIC, CySEC | Trading Station, MT4 | 7.0/10 | Review (RU) |
| 7 | FOREX.com (GAIN Capital) | FCA, CFTC/NFA | Proprietary, MT4, MT5 | 7.0/10 | Review (RU) |
| 8 | FXOpen | FCA, ASIC | MT4, MT5, TickTrader | 7.0/10 | Review (RU) |
| 9 | ThinkMarkets | FCA, ASIC | ThinkTrader, MT4, MT5 | 7.0/10 | Review (RU) |
| 10 | Plus500 | FCA, CySEC, ASIC | Proprietary | 6.8/10 | Review (RU) |
The score matches the rating shown in our broker review: the average of the five criteria in the Broker-Pro methodology (regulation, legal documents, platform, fees and client feedback).
FAQ
What is the difference between AFSA and ARDFM licences?
AFSA regulates AIFC firms under English law and international standards; ARDFM regulates firms under national law. Both are legal in Kazakhstan.
Trading CFDs and Forex carries a high risk of losing money. Most retail investors lose money when trading CFDs. This content is not investment advice. Licence data is current as of November 2026; check the broker’s status in the regulator’s register before opening an account.