Business · Companies · 12 hrs ago
Swedish digital bank Nordnet prepares to enter Germany
Swedish digital bank Nordnet is preparing to enter Germany, where it will compete with established online investment services.
The company presented its plans in Frankfurt, led by chief executive Rasmus Järborg and Germany head Arno Walter.
Selected customers are due to get the app on 16 November, with access to shares, exchange-traded funds, investment funds and market tools.
Nordnet will offer a free securities account and a savings account paying 2.5% for the first six months, then 2%.
Trades beyond savings-plan orders will cost €2.95 each, while account fees and savings-plan transactions will be free.
The launch gives German customers another option for investing, in a market Nordnet says is highly competitive.
Nordnet has not said when the app will become available to all customers.
Swedish digital bank Nordnet is preparing to enter the German market.
CEO Rasmus Järborg and Germany chief Arno Walter presented the bank’s plans in Frankfurt on Monday.
Nordnet plans to make its German app available to selected customers from November 16.
The app will allow customers to trade shares, ETFs and investment funds and access market information and analysis tools.
The launch offer includes a free securities account and a savings account paying 2.5% interest for the first six months, then 2%.
- Who
- Swedish digital bank Nordnet, led in Germany by Arno Walter.
- What
- Nordnet presented plans to enter the German market and launch its app.
- When
- The plans were presented on Monday; the app is due to go live for selected customers on November 16.
- Where
- Frankfurt, Germany.
- Why
- Not stated
This story does not have two clearly opposing sides.
Nordnet CEO Rasmus Järborg and Germany chief Arno Walter presented the company’s plans in Frankfurt.
Nordnet plans to make its German app available to selected customers.
- App launch
- November 16, initially for selected customers
- Savings account rate
- 2.5% for the first six months, then 2%
- Trading fee
- €2.95 per transaction, except free savings-plan executions
- Securities account
- No account or custody fees