Tax & Money

Investing here, Nordnet, Saxo and the setup

Updated July 2026Reviewed July 2026
The one-line versionTwo platforms dominate for expats: Nordnet and Saxo. Both connect to MitID, report to SKAT automatically, and support the ASK. Get the account type right before you buy anything.

The two main platforms

For most internationals investing in Denmark, it comes down to Nordnet and Saxo Bank. Both handle MitID login, report your trades to SKAT automatically, and support the tax-efficient aktiesparekonto. Danish banks also offer investing, usually at higher commissions.

Getting set up

  1. You'll need your CPR number and MitID - identity verification runs through MitID.
  2. Choose the right account type up front: an ASK for tax-efficient share investing, or a regular account (frie midler) for anything the ASK can't hold, like bonds.
  3. Fund it (staying under the DKK 174,200 ASK cap), then buy - checking any ETF is on SKAT's Positivliste first.
Account type matters more than platformThe single biggest decision isn't Nordnet vs Saxo - it's getting the ASK vs frie midler split right, because that decides your tax rate. See lager vs realisation for how the tax works.

The tax follows the account

Your platform doesn't change your tax - the account type and what you hold do. Inside an ASK, everything is a flat 17%. In a regular account, individual stocks are taxed on sale at 27/42%, while ETFs are taxed annually (lager). Danish platforms report it all to SKAT; you just check your årsopgørelse each spring.

Foreign platforms don't report to SKATIf you use a non-Danish broker (eToro, DEGIRO and the like), they generally don't report to SKAT - you're responsible for declaring buys, sells, gains and losses yourself. Danish platforms do it automatically. Factor this in before choosing convenience abroad.

A sensible default

A common, low-fuss approach for a salaried expat: open an ASK, fill it with a low-cost Positivliste global ETF up to the annual limit, and only use a regular account beyond that. It's not advice - your right setup depends on your horizon, other-country tax obligations and how long you're staying - but it's the pattern many follow.

For moving funds across borders, see sending money abroad from Denmark.

Common questions

Nordnet or Saxo?
On cost and range they're close. If you already bank or invest with one, keep everything in one place for simpler tax season. Starting fresh, either works.
Can I keep my foreign broker?
You can, but it won't report to SKAT, so you take on the declaration work yourself - and some brokers restrict access for Danish residents. A Danish platform is simpler.
Do I need a lot to start?
No - both platforms let you start small, and monthly automatic investing (månedsopsparing) is available for a hands-off approach.

Verified July 2026 against official sources: skat.dk (Skattestyrelsen), the Danish Ministry of Taxation and broker documentation (Nordnet, Saxo). Figures are 2026 levels and reset each January. General information, not financial or tax advice - see our editorial policy.

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