Do you want to start investing in stocks and wonder which stock platform is best? Then this article is a perfect place to start.
There are a number of "Best online stock trading platforms" articles out there – but many of them aren't immediately very helpful, if you ask me.
That's why I've created this article that filters out all the unnecessary noise and confusion and aims to give you a quick and clear explanation of what to look for in an online broker.
And not least: give you 3 proposals for stock broker platforms with low fees and helpful, educational investment resources in addition.
I recommend only platforms I actually use myself. Therefore, this list will long, but focused on a bunch of quality platforms that I can actually vouch for.
My top choice: Nordnet
When you are just starting out investing, it is extra valuable for you if the online broker you choose is something more than just a place to buy and sell shares.
And in this case the online broker is Nordnet the best solution of them all.
They both have a very good stock blog ('Børsskolen'), where You can read and learn about a number of useful topics that are worth knowing as an investor.
If you create a free Nordnet user, you also get access to the stock forum Shareville - which is full of other investors whose portfolios you can see and from whom you can learn a lot.
Nordnet helps you build a solid foundation as an investor, as they are precisely something more than 'just' a broker.
The latest addition on the news front is that you should be able to see upcoming dividends, nicely presented in graphs that show your progress in dividend payments, which you can see in the Twitter post below.
What does an online broker do?
An online broker, or online stockbroker, is licensed to execute trades on your behalf. In the old days, this was a much more cumbersome process, as you had to call the broker to let them place buy or sell orders for you.
Today we have the internet, and buying and selling shares is faster and easier than ever.
In addition, online brokers now cost only a fraction of what the old brokers cost. This makes share trading available to even more people today than before.
But that doesn't mean there aren't costs involved today.
Online brokers can, for example, charge for:
- Utførelsen av kjøp og salg av en aksje (kurtasje)
- Deposit fee
- Withdrawal fee
- Spreads
- Weekend fee (mostly applies to CFDs and more advanced investments)
So it's about finding the online broker with the prices and terms that suit you best.
Read also: shares for beginners: a great guide to investing in shares and fund
1. Nordnet
I've already been to Nordnet in this article. If you are a beginner, Nordnet is a fantastic place to start.
Nordnet benefits
There are several advantages to saving and investing with Nordnet. Some of the benefits include:
- In addition to buying stocks, you can also choose between 1,800 funds and ETFs
- You can be inspired and learn from the best through Shareville - the Nordic region's largest social investment network
- Good welcome offer for new customers - trade from NOK 1 (0.035%) on the Nordic stock exchanges
- A platform that is easy to use, including an award-winning Nordnet app
- Low fees
And not least – check out their learning resources, which can provide inspiration, knowledge and guidance:
- Børsskolen
- Pengepodden
- Other Nordnet events
Remember: Financial securities can both increase and decrease in value. There is a risk that you will not get back the money you have invested.
2. DNB Markets
DNB Markets is the platform I started trading shares in when I first started investing, and is probably close to my heart for that reason when I have to recommend a stock platform.
DNB Markets has relatively simple functions. In addition to buying and selling shares, ETFs and funds, you can see DNB's own analyzes of a number of companies. This can be of great help if you are completely new to investing.
They have a very nice app in the Spare app, and the share trading platform is connected directly to your online bank, which means you don't need to transfer any further than between your own accounts (current account to ASK or VPS account) in the online bank itself .
However, they do not have as many functions as Nordnet (for example when it comes to the dividend overview), although it is quite possible that they have some projects underway to develop the app further.
Advantages of DNB: Easy to get started if you are already a customer, and have a large selection of shares, ETFs and funds to choose from.
Watch out: DNB has relatively high fees compared to Nordnet. If you want to act actively, Nordnet may therefore be a better alternative.
3. eToro
I've had a user on eToro since around 2011 and mostly use it for trading some Bitcoin, Ethereum and other cryptocurrency.
This is a trading platform that I mainly associate with high-risk investment products - so if you want to trade cryptocurrency, or more advanced stock products such as CFDs, commodities or leverage, eToro could be a platform to consider.
Note: if you are completely new to investing, not such products are something I recommend you bet on. The risk of you losing money is even higher with more complex products. Funds and shares are more than good enough to create a good return, so I would stick to this.
eToro is also known as a social trading platform and you can copy other traders' trades.
Nevertheless, my experience is that, for example, Shareville from Nordnet has a more serious, relevant and educational communication between users. Often I think there is a bit too much emotion and too little logic in the comment fields on eToro.
But it is clearly a good place to be if you want exposure to cryptocurrency.
Advantage of eToro: No commission on buying and selling shares, and easy to use.
Watch out: eToro often has a high spread on cryptocurrency (a spread is the difference between the buy price and the sell price).
Would you like more information on how to get started with shares? Then I recommend that you check out this article I have written about 5 simple steps to how to buy shares.
Disclaimer
Remember that trading in shares and other financial instruments involves risk. There is a chance that you will lose money, especially if you do not do the necessary research before making an investment.
