The demand for investment has hardly been greater

The demand for investment has hardly been greater

In addition to a revenue boost for many Danish e-shops, the demand for investment has really got private investors at the buttons - never before have investment platforms attracted so many new members at once as they are currently experiencing. Everyone simply wants to invest. This post is not a post about investment advice, but instead it focuses on some of the platforms that have experienced enrolment growth - including: Nordnet and Saxobank. The post is made in collaboration with Frederik Askov Stormwho has the blog Youth money.

Which platform should I choose?

As described in the introduction, there are many private investors in the financial market with the aim of making a reasonable return on investment. Of course, this is easier said than done, which often leads to uncertainty, fear and, not least, euphoria. This is also characterised by the concept of supply and demand, which determines market prices.

In this post, we'll talk about a Comparison of Saxobank and Nordnetthat can help you as an investor decide which investment platform to choose - and in principle, it's not a question of either/or, as bank X does not necessarily exclude bank Y. Remember.

What should you be aware of?

When setting up a new custody account, it's worth noting terms like commissions, fees, costs and more. There are bound to be some costs associated with buying and selling securities, but depending on the platform, this can vary slightly.

There may be some brokerage benefits with Saxobank if you buy individual securities. However, if you have a long-term strategy and don't want to pick your own shares as such, but leave it to a fund or ETF, it may make sense to use Nordnet's monthly savings, which offers commission-free purchase trades. However, you should of course be aware of the fund or ETF's annual costs.

The advantage of Saxobank's lower commission rate is also significant as they offer no minimum commission rate, which was introduced on 02 November 2020. This means that you don't have to buy X amount of volume before the investment makes sense - this may appeal to younger investors in particular.

Study benefits

There are student benefits available if you want to invest as a student. Simply submit your student card and the benefits will automatically take effect - this applies to both platforms.

Summarising

To take the main summary points of Nordnet and Saxobank respectively, one can highlight:

Nordnet: The largest Nordic stockbroker, monthly savings, access to small Nordic stocks.

Saxobank: The bank has the lowest commission rates, a share savings account (although Nordnet is expected to get this too), and access to many different markets.

Ultimately, it's your decision which platform you're most comfortable with, but as we wrote in the introduction - one repository does not exclude the other.

Remember that the greatest returns are created with patience. Don't be tempted by the returns of others, but instead look at your portfolio as a whole - and ask yourself:

Would I buy this security today?

If the answer is YES, the security is still part of your strategy and you should stick with it. It tells the story of the last 200 years, and I wonder if it will continue to do so for the next 200?

Good luck with your investments.