Timur Turlov, Founder of Freedom24: 'Chess and finance are very close to each other'

An international online broker, Freedom Finance Europe Ltd, founded by the Kazakh maverick Timur Turlov, has expanded its international operations, establishing a presence in the Lithuanian capital, Vilnius. This expansion means not only will Lithuania and the entire Baltic region benefit from the company’s comprehensive investment services, but they will also gain from its involvement in innovative chess initiatives. Recently, T. Turlov, president of the Kazakhstan Chess Federation (KazChess), has been named head of the newly established International School Chess Federation (ISCF), which will operate as an affiliate organization of the International Chess Federation (FIDE). 

Business and chess go on par Freedom Finance Europe Ltd, operating under the Freedom24 brand, offers EU clients a wealth of resources for successful investments, including direct access to the world’s largest stock exchanges, professional securities analytics, user-friendly trading platforms, and responsive client support in their native language. This focus on excellence is mirrored in the company’s sponsorship of notable events, such as the 2024 FIDE World Rapid & Blitz Championships, one of the most prestigious chess tournaments globally, which debuted in New York City’s financial district on December 26.

Freedom Holding Corp.: Bridging Finance and Chess

Freedom Holding Corp., the parent company of Freedom24, served as the general partner for the championship, underscoring the shared values of finance and chess: strategy, quick decision-making, and precision. Timur Turlov, CEO of Freedom Holding Corp., articulated this alignment: “I believe that chess and finance are very close to each other. That’s why we came up with the idea of a unique conference, ‘The Wall Street Gambit.’ Sometimes in business, we need to see the bigger picture. Whether playing chess or navigating the business world, we must be analytical and use strategic thinking.” The partnership also highlighted the global significance of the 2024 championship, which included a groundbreaking rest-day event, The Wall Street Gambit conference. Held at the symbolic heart of global finance, Wall Street, the conference explored intersections between chess, business, and finance. Emil Sutovsky, CEO of FIDE, remarked: “Top chess grandmasters gathered at the financial heart of the world. What fascinated me most was the enormous concentration of the sharpest minds and the synergies that emerged. This event has everything it takes to become a landmark ‘I-was-there’ kind of gathering.”

Why Freedom24 stands out

As part of the international financial conglomerate Freedom Holding Corp., listed on Nasdaq and regulated by the U.S. Securities and Exchange Commission (SEC), Freedom24 sets itself apart with a range of offerings: access to 15 major US, European, and Asian exchanges through a single account; a selection of 1,000,000+ financial instruments, including stocks, ETFs, bonds, options, and futures; professional analytics provided by seasoned global market experts; multilingual, responsive client support and personalized account managers; pre-and post-market trading capabilities; user-friendly web platforms and mobile apps for portfolio monitoring and trading; D-Account Securities Swap with returns at 4.59 percent per annum in USD and 3.1 percent per annum in EUR, and long-term funds placement securities swap yielding up to 7.57 percent per annum in USD and up to 5,18 percent per annum in EUR. 

The company operates with MiFID II, a framework ensuring the highest level of investor protection in the EU. Funds are safeguarded by EU laws and insured up to 20,000 euros. Regular audits by KPMG, S&P, and SEC-authorized BDO consortiums further reinforce its credibility.

Chess in the Baltics

The Baltics, while rich in chess history, have not produced a world champion since Latvia’s Mikhail Tal in 1960. However, the recent expansion of Freedom24 into Lithuania, coupled with Turlov’s personal passion and initiatives, might inspire the rise of a new champion from the region. Iconic Baltic chess figures include Paul Keres of Estonia, known as the “eternal second,” and Mikhail Tal, Latvia’s “Magician from Riga,” celebrated for his innovative play. Interestingly, the former Speaker of the Lithuanian Parliament Seimas, Viktorija Cmilyte-Nielsen is one of Lithuania’s most prominent chess figures and a notable political leader. She holds the titles of International Grandmaster (GM) and Woman Grandmaster (WGM), reflecting her exceptional skills in the game.

Turlov’s Vision for Chess and Sports

Beyond financial achievements, Timur Turlov has been a transformative figure in chess and sports development. Under Turlov’s leadership, Kazakhstan has emerged as a global chess power. His initiatives have fostered the growth of young talent, securing the country’s prominence in international competitions. He is the founder of the International School Chess Federation (ISCF). And his sports initiatives go beyond chess – Turlov’s Super Bol project in Kazakhstan identifies football talent in urban and rural areas, with the Freedom QJ League producing players sought by international clubs. 

Freedom24’s commitment to social responsibility

Turlov views social responsibility as integral to Freedom24’s mission: “For us, social responsibility is not just allocating a portion of our profits to random charity but building a business model that continuously contributes to societal development. This goal defines our principles and reinforces our reputation as a reliable employer and a caring member of society.”

Undoubtedly, Freedom24 exemplifies this ethos by supporting projects that enrich communities, whether by fostering future chess champions or developing sports and educational initiatives that benefit broader society.