I’ll repeat what’s already been said: it doesn’t cost anything. A bank transfer works just like a normal bank transfer. First, you should make a deposit notification from IB. And then, in the transfer’s message field, you put the string provided by IBKR which contains your username. A normal bank transfer means exactly that, not some “international bank transfer”, not Wise. Just normal. It doesn’t cost anything.
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You should at least compare the fee schedules. Nordea’s advantage is that both Nordic (including Helsinki) and all ETFs have a maximum 1% commission. That’s useful if you want to make trades with small
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Can I get a current report on wealth/assets/portfolio from Nordnet’s website? I couldn’t find such an option on my phone, at least. The bank is asking for proof of wealth for a mortgage negotiation, what’s the easiest way to send them a PDF of the portfolio status?
Would a screenshot of investments and balances be enough for the bank? You can probably get a PDF from somewhere, but that would be the easiest solution. Your own name just needs to be visible in the screenshot so it’s not cropped out…
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My pages → Reports → Portfolio report
And then, at least with an iPhone, you can print the report as a PDF.
Even though I don’t particularly like NN, it’s worth noting that NN’s stated cost includes currency exchange fees, while Mandatum’s cost does not. Still, Mandatum is somewhat cheaper. This is probably a purchase for a stock savings account? With currency accounts, you can then reduce currency exchange fees (in both). But on the other hand, then it might be worth switching to a client of, say, IB.
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Alright, I recently became a Danske customer due to home loans, so I also opened a securities account there. Since I already had securities accounts (AOTs) with Nordnet and Nordea, a third one felt like overkill until I thoughtfully compared the price lists; it now looks like I’ll be operating with a three-portfolio strategy. This also allows for some maneuvering with FIFO (First-In, First-Out) capital gains/losses.
- With Nordnet (with shareholder association member benefits), I utilize the bank’s only trump card, i.e., trading credit (Superluotto), which is why I want to maintain a sufficient position there. The user interface and usability are also decades ahead of Nordea and Danske, but I maintain my own Excel spreadsheet for all portfolio events, so a fancy view isn’t a necessity. Currency accounts also somewhat offset overall costs in the Nordics, but despite them, Nordnet will likely focus mainly on Finnish stocks in the future (5-7€ per transaction).
- With Nordea, I make small stock trades in the Nordics with a maximum cost of 1%, and occasionally utilize stock savings days (1€ / trade). One trade per quarter must be made for free custody.
- With Danske (with shareholder association member benefits), I will make all trades outside the Nordics with a maximum charge of 5€, and possibly also Nordic trades over 500€. They apparently offer trading credit to their Private Banking customers; if one ever reaches that level and the terms are reasonable, then there would be no reason left to continue with Nordnet.
Conversely, with this setup, trading should be done in the following way:
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Finland under 500€ → Nordea (1 %)
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Finland 500-700€ → Danske (5€)
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Finland over 700€ → Nordnet (5-7€)
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Nordics under 500€ → Nordea (1 %)
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Nordics 500€-1000€ → Danske (5€)
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Nordics over 1000€ → Nordnet (10€)
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Rest of the world all trades → Danske (5€)
I calculated that the 12 trades I made last month with Nordnet (Finland, Sweden, USA) incurred a total of 138€ in costs. The same trades with Danske would have cost only 60€, and with Nordea, about 97€. Although more trades than usual were made in November, with these differences, it would be foolish not to use the cheapest broker for whom the client relationship is already established.
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Well, this is where OP’s recommendation ended. The entire portfolio, including its reports, has disappeared, at least from mobile, and trading, at least selling, is difficult. Instead, there’s a button about various update delays, and sums are visible, but no information about holdings. Great updates, it would be nice to update Orion holdings on good news. Well, that didn’t happen.
Edit: The portfolio is visible in the online service. Adding to previous comments, there’s a lot of information in the online service, but not all of it is easily found.
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Could you clarify further? For example, you wrote:
Nordic countries over 1000€ → Danske (5€) or Nordnet (10€)
Rest of the world all trades → Danske (5€).
Isn’t that 5 euros the minimum at Danske? According to Osakesäästäjät (Shareholders’ Association), 0.12% of the trade sum is charged, so 5 euros per trade is certainly not enough if you make even slightly larger trades in the Nordic countries or the USA. Danske also knows how to take its commissions.
At Nordnet, I pay 0.07% per trade, so I don’t consider Danske the cheapest. It depends, of course, whether you trade with small or large sums, and how many shares. For small trades, Nordnet is definitely not the most sensible. But for larger (five-figure) trades, it’s quite competitive.
If I had to guess, I’d say that even here, most people don’t regularly make five-figure stock trades.
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I’d guess the same + even if one trades with larger sums, there might be a desire to divide trades into smaller parts (time diversification). If we consider a relatively well-diversified portfolio (e.g., over 20 securities) and don’t want to make one-off trades with the holdings, the portfolio must be truly large to generally reach five-figure trades. Let alone if one also saves from their income, in which case monthly sums are typically three - max. four-figure amounts.
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Especially at the Active Trading level, where the minimum cost in the USA is $8/trade. Not many probably actively trade in the USA with Nordnet. Or at least they shouldn’t.
I apologize for the repetition around the same topic, but as long as Nordnet doesn’t do anything about it, it’s probably worth keeping the flame alive.
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As already stated above, I don’t make such large orders that percentage-based pricing would be a significant factor.
I myself probably represent a more radical group of temporal diversification, where a position opened in a stock, especially one in a downtrend, might consist of, for example, five separate orders. In these cases, the difference in costs, often measured in per mille, is overshadowed by the stock’s price fluctuation, which can be measured in tens of percentages.
Or even if one doesn’t buy a very volatile stock, when building a realistic €5000 position for myself, for example, I might still divide the purchases into 2-3 tranches. A nine-euro saving (as a single purchase 0.12% → €6 vs. in three tranches → €15) in costs doesn’t matter if, through temporal diversification, the overall purchase price decreases by even 0.18%.
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Is Nordea the only one that has ETFs with 1% fees? Since I have enough of them, 30+, and I like to buy and sell them, it has sometimes crossed my mind whether it would be worth switching away from OP. OP is quite okay now, although there seems to be some small bug almost every day, but especially the phone app is quite successful. But indeed, the minimum purchase is practically 800€ to get that approximately 1% fee on purchases.
The price for Degirolla is one euro for all transaction sizes.
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Tomorrow is the last day the Nordea Investor app will be in use. Sad day.
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I opened an account with Nordea. I also requested (I think) the opening of a book-entry account 2 days ago. I haven’t heard anything about it, nor can I find anything referring to it in the mobile bank. Well, today I apparently requested its opening again. Will two book-entry accounts open now? There’s no information anywhere about these account “orders”… well, I’ll close the other one if two open. Stupid unnecessary hassle.
This had already been discussed in the leveraged product thread, but apparently, Nordnet’s leveraged product spreads are rising sharply as Nordea is replaced by J.P. Morgan. This price increase, however, is pan-Nordic, but Nordnet’s service seems to be getting worse day by day. Here too, cents are being extracted from private investors’ pockets in a relatively ugly way, which a novice investor/trader might not fully grasp.
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The 0.41% mentioned in this screenshot is exceptionally small. I myself have actively traded turbos on S&P, Nasdaq, and DAX, and their spreads are almost always over 2%.
I am seriously considering transferring my own and my kids’ assets to Nordea, as I have banking services and a loan there. Dealing with Nordnet’s customer service has been so tedious that I stopped reporting problems. The costs are on the high side, and now the increase in spreads for this hobby is starting to be the last straw.
Does anyone know if Nordea offers the same moderate spreads for the derivatives they issue in their own service as Nordnet used to have?
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I looked for the warrant Pekka mentioned, and now the offered bid is 17.71e and the ask is 17.72e. Although sometimes the spread fluctuates to two cents for a moment. You can’t call that expensive. Was Pekka’s feedback taken so seriously right away, or what could be behind this?