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Beskrivning
| Land | Sverige |
|---|---|
| Lista | Large Cap Stockholm |
| Sektor | Finans |
| Industri | Nischbank |
Nordnet is today launching currency accounts on its investment savings account (ISK). This launch enables Nordnet's customers to hold cash balances in six different currencies within their ISK. Savers will therefore not need to perform a currency exchange for every transaction made in foreign stocks.
Nordnet continues to develop its offering for the more interested and active savers. The currency account service on the ISK gives private investors the opportunity to manage their foreign stock transactions more cost-effectively by avoiding automatic currency conversions and associated fees for each transaction. With one or more currency accounts linked to their ISK, Nordnet's customers can choose to exchange currencies themselves at the times that suit them best. This is particularly advantageous for savers who trade frequently in foreign stocks, as it eliminates recurring exchange fees.
"Last month we launched pre-market trading in US stocks, and we are now continuing to develop our offering for investors interested in equities. With one or more currency accounts linked to their ISK, savers gain increased control and flexibility, as well as lower transaction costs when trading in foreign stocks," says Rasmus Järborg, Chief Product Officer and Deputy CEO at Nordnet.
Currency accounts will be offered in EUR, NOK, DKK, USD, and CAD. Holding currency accounts is free of charge. When exchanging currencies, a currency surcharge of 0.075 percent will be applied. The service is offered to customers who belong to either the Private Banking or the Active Trader segment.
"We are not the first to offer this type of product to Swedish savers, but I believe we have succeeded in creating the sharpest currency account for ISK on the market. At Nordnet, exchanges can be made directly between all different currency pairs without going the roundabout way via Swedish kronor, which reduces the number of conversions. The currency surcharge of 7.5 basis points is also low compared to the terms normally applied in the market. Furthermore, foreign dividends are recorded in the stock's listing currency without being automatically converted," says Rasmus Järborg, Chief Product Officer and Deputy CEO at Nordnet.
To ensure sufficient knowledge about currency exchange and the specific terms and risks associated with the service, opening a currency account requires a passed knowledge test in the area. The currency account service also requires an approved credit agreement.