Brokers With DKK Accounts
Written By
Jemma Grist
Written By
Jemma Grist
Edited By
James Barra
Edited By
James Barra
Updated
Oct 4, 2024
DKK accounts allow you to hold your trading portfolio in Danish krone. They offer a smooth trading experience for residents of Denmark, Greenland and the Faroe Islands looking to deposit and withdraw in their stable local currency.
See our pick of the best brokers with DKK accounts, personally tested by our expert analysts.
Best Brokers With DKK Accounts
These are the top 3 brokers that accept DKK accounts:
Click a broker for details
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1
Interactive Brokers
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$0$1001:50FCA, SEC, FINRA, CFTC, CBI, CIRO, SFC, MAS, MNB, FINMA, AFMStocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, CFDs, CryptocurrenciesTrader Workstation (TWS), IBKR Desktop, GlobalTrader, Mobile, Client Portal, AlgoTrader, OmniTrader, eSignal, TradingCentralCheque, ACH Transfer, Wire Transfer, Automated Customer Account Transfer Service, TransferWise, Debit CardUSD, EUR, GBP, CAD, AUD, INR, JPY, SEK, NOK, DKK, CHF, AED, HUF -
2
IGForex trading involves risk. Losses can exceed deposits.
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$00.01 Lots1:30 (Retail), 1:250 (Pro)FCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA, FINMA, CONSOB, AFMCFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread BettingWeb, ProRealTime, L2 Dealer, MT4, TradingView, AutoChartist, TradingCentralPayPal, Wire Transfer, Mastercard, Credit Card, Visa, Debit CardUSD, EUR, GBP, CAD, AUD, JPY, ZAR, SEK, DKK, CHF, HKD, SGD -
3
Zacks Trade
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$2500$3FINRAStocks, ETFs, Cryptos, Options, BondsOwnWire Transfer, ACH Transfer, ChequeUSD, EUR, GBP, CAD, AUD, NZD, INR, JPY, ZAR, TRY, SEK, NOK, DKK, CHF, HKD, SGD, RUB, PLN, CZK, HUF
Here is a short summary of why we think each broker belongs in this top list:
- Interactive Brokers - Interactive Brokers (IBKR) is a premier brokerage, providing access to 150 markets in 33 countries, along with a suite of comprehensive investment services. With over 40 years of experience, this Nasdaq-listed firm adheres to stringent regulations by the SEC, FCA, CIRO, and SFC, amongst others, and is one of the most trusted brokers for trading around the globe.
- IG - Founded in 1974, IG is part of IG Group Holdings Plc, a publicly traded (LSE: IGG) brokerage. The brand-US offers spread betting, CFD and forex trading across an almost unrivalled selection of 17,000+ markets, with a range of user-friendly platforms and investing apps. For 50 years, IG has maintained its position as an industry leader, excelling in all key areas for traders.
- Zacks Trade - Zacks Trade is a FINRA-regulated US broker offering trading on stocks, ETFs, cryptocurrencies, bonds and more through a proprietary terminal. The broker is geared toward active traders and offers very affordable fees on most assets as well as an app and a vast amount of market data.
Brokers With DKK Accounts Comparison
| Broker | DKK Account | Minimum Deposit | Markets | Regulator |
|---|---|---|---|---|
|
|
✔ | $0 | Stocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, CFDs, Cryptocurrencies | FCA, SEC, FINRA, CFTC, CBI, CIRO, SFC, MAS, MNB, FINMA, AFM |
|
|
✔ | $0 | CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting | FCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA, FINMA, CONSOB, AFM |
|
|
✔ | $2500 | Stocks, ETFs, Cryptos, Options, Bonds | FINRA |
Interactive Brokers
"Interactive Brokers is one of the best brokers for advanced day traders, providing powerful charting platforms, real-time data, and customizable layouts, notably through the new IBKR Desktop application. Its superb pricing and advanced order options also make it highly attractive for day traders, while its diverse range of equities is still among the best in the industry."
Christian Harris, Reviewer
Interactive Brokers Quick Facts
| Demo Account | Yes |
|---|---|
| Instruments | Stocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, CFDs, Cryptocurrencies |
| Regulator | FCA, SEC, FINRA, CFTC, CBI, CIRO, SFC, MAS, MNB, FINMA, AFM |
| Platforms | Trader Workstation (TWS), IBKR Desktop, GlobalTrader, Mobile, Client Portal, AlgoTrader, OmniTrader, eSignal, TradingCentral |
| Minimum Deposit | $0 |
| Minimum Trade | $100 |
| Leverage | 1:50 |
| Account Currencies | USD, EUR, GBP, CAD, AUD, INR, JPY, SEK, NOK, DKK, CHF, AED, HUF |
Pros
- While primarily geared towards experienced traders, IBKR has made moves to broaden its appeal in recent years, reducing its minimum deposit from $10,000 to $0.
- The new IBKR Desktop platform takes the best of TWS while adding bespoke tools like Option Lattice and Screeners with MultiSort to create a genuinely impressive trading experience for day traders at every level.
- IBKR is one of the most respected and trusted brokerages and is regulated by top-tier authorities, so you can have confidence in the integrity and security of your trading account.
Cons
- You can only have one active session per account, so you can’t have your desktop program and mobile app running simultaneously, making for a sometimes frustrating trading experience.
- TWS’s learning curve is steep, and beginners may find it challenging to navigate the platform and understand all the features. Plus500's web platform is much better suited to new traders.
- IBKR provides a wide range of research tools, but their distribution across trading platforms and the web-based 'Account Management' page lacks consistency, leading to a confusing user experience.
IG
"IG continues to provide a comprehensive package with an intuitive web platform, best-in-class education for beginners, advanced charting tools bolstered by its recent TradingView integration, real-time data, and fast execution speeds for experienced day traders."
IG Quick Facts
| Demo Account | Yes |
|---|---|
| Instruments | CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting |
| Regulator | FCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA, FINMA, CONSOB, AFM |
| Platforms | Web, ProRealTime, L2 Dealer, MT4, TradingView, AutoChartist, TradingCentral |
| Minimum Deposit | $0 |
| Minimum Trade | 0.01 Lots |
| Leverage | 1:30 (Retail), 1:250 (Pro) |
| Account Currencies | USD, EUR, GBP, CAD, AUD, JPY, ZAR, SEK, DKK, CHF, HKD, SGD |
Pros
- The ProRealTime advanced charting platform is free as long as certain modest monthly trading activity requirements are met.
- IG offers an extensive collection of professional and engaging educational resources, including webinars, articles, and analysis.
- As a well-established broker, IG operates under strict regulatory guidelines in multiple jurisdictions, maintaining a high level of trust.
Cons
- IG applies an inactivity fee of $12 per month after 2 years, deterring casual investors.
- Beginners might find IG’s fee structure complex, with various fees for different types of trades or services, potentially leading to confusion or unexpected charges.
- IG has discontinued its swap-free account, reducing its appeal to Islamic traders.
Zacks Trade
"Zacks Trade will suit active day traders with experience using powerful platforms. Fees and margin rates are low while the market research is excellent."
Tobias Robinson, Reviewer
Zacks Trade Quick Facts
| Demo Account | Yes |
|---|---|
| Instruments | Stocks, ETFs, Cryptos, Options, Bonds |
| Regulator | FINRA |
| Platforms | Own |
| Minimum Deposit | $2500 |
| Minimum Trade | $3 |
| Account Currencies | USD, EUR, GBP, CAD, AUD, NZD, INR, JPY, ZAR, TRY, SEK, NOK, DKK, CHF, HKD, SGD, RUB, PLN, CZK, HUF |
Pros
- Comprehensive research and data
- Customizable proprietary trading platform and mobile app
- 20+ account denominations
Cons
- No forex, commodities or futures trading
- Shortcomings regarding platform loading times and technical glitches
- No MT4 or MT5 platform integration
How Did We Choose The Best Brokers?
To find the best trading platforms that offer DKK accounts we:
- Searched our directory of 216 online trading platforms
- Pinpointed all those that offer accounts denominated in the Danish krone
- Rated them using 100+ data points and findings from our hands-on tests
What Is A DKK Account?
A DKK account is a trading account where transactions and trades are handled in Danish krone.
This means that investments you hold and trade, including deposits and withdrawals, are in DKK.
Below is an example of where I opened an account with Dukascopy:
Do I Need A DKK Trading Account?
A DKK account might work for you if:
- You live in Denmark, Greenland or Faroe Islands and hold money in DKK as it’s more convenient to hold an account in the same currency.
- You often trade currency pairs that include the DKK, including USD/DKK, EUR/DKK and GBP/DKK because there’s a smaller risk of conversion charges.
- You trade Danish or Nordic stocks listed on the Nasdaq Nordic as managing trades in a regional currency is often faster and cheaper.
How Can I Check If A Broker Offers An Account In Danish Krone?
You can follow these simple steps, which we also took to ensure our recommended platforms offer DKK accounts:
- Head to the ‘account types’ page on the broker’s website to find the available base currencies.
- Verify that DKK is listed as a supported currency in Denmark, Greenland or Faroe Islands.
- Register for an account and choose DKK as your base currency (though you may be required to choose your base currency later).
Pros & Cons of DKK Trading Accounts
Pros
- Our evaluations have found that brokers with DKK accounts often provide access to regional markets, offering a more tailored service to Danish traders. IG, for example, offers popular Danish shares such as Danske Bank, as well as DKK currency pairs like USD/DKK and EUR/DKK.
- DKK trading accounts can reduce conversion fees if dealing in krone, which is a notable benefit for active traders. XM, for example, charges a 0.5% fee for currency conversions when transferring between DKK and the account base.
- Since the Danish krone is still firmly pegged to the euro, traders can benefit from relatively small currency fluctuations with limited risk.
Cons
- Despite becoming increasingly popular, DKK accounts are still relatively uncommon (less than 10% of brokers we’ve evaluated), so you won’t have the widest choice compared to brokers with USD accounts, for instance, which are offered by virtually every trading platform.
- You may still face conversion fees when trading popular markets using a DKK account. Forex.com charges up to 0.5% if you want to trade US stocks, for instance, using a DKK account.
FAQ
Which Is The Best Broker With A DKK Trading Account?
See our list of the top-rated brokers with DKK accounts, thoroughly tested by our experts.
How Much Does It Cost To Open A Trading Account Based In Danish Krone?
Our tests have shown you’ll need up to 250 USD (around 1,747 DKK) to open a live trading account. That said, we’ve seen many top brands offering much lower.
For example, IG stands out for its beginner-friendly DKK account requiring no minimum deposit.
Article Sources
- Danske Bank (DANSKE) - Nasdaq
- Nasdaq Nordic
- Danish Krone Peg To Euro Remains Strong - Finance Magnates
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