In this article I will review the most prominent online stockbrokers in Denmark. Saxo Bank and Nordnet. If you trade with individual shares and for smaller amounts, you can save a lot of money on brokerage by investing through Saxo Bank, which has the cheapest brokerage. If you want to invest in mutual funds, then you can advantageously use Nordnet’s monthly savings, where you can save on the purchase brokerage fee. The platforms have quite a few different functions, and in this article I will go into the different advantages and disadvantages of the 2 platforms for stock trading. Should you use Saxo Bank or Nordnet for trading stocks? It’s not a simple answer. It depends.
Brokerage is the trading cost that you pay when you trade a stock. It often has to be paid when buying and selling. It is usually calculated as a minimum amount or a percentage. Then you pay the amount that is larger of the two. Brokerage is one of the biggest costs associated with trading shares, so it should weigh heavily in your choice of platform if you want to minimize your costs. Below I have compiled a table where you can get an overview of the brokerage rates at Nordnet and Saxo Bank across different markets.
The cost can be found here: https://www.home.saxo/da-dk/rates-and-conditions/mutual-funds/trading-conditions and https://www.nordnet.dk/dk/kundeservice/prisliste/kurtageklasser They change and just recently did so keep an eye on them. E.g. Saxo Bank is raising their minimum brokerage from November 14, 2022. This means, among other things, that the trading of US shares will increase to USD 9, German shares will increase to EUR 9 and English shares will increase to GBP 9. Saxo Bank previously had no minimum brokerage. However, it was changed from 2 November 2020, after which the above brokerage rates apply.