Brokers With NOK Accounts

Written By

Jemma Grist

Edited By

James Barra

Updated

May 29, 2024

NOK trading accounts allow you to hold your funds in Norwegian krone. Particularly popular among active Norwegian traders, they help minimize the risk and cost of converting profits from foreign currencies back to NOK, while ensuring convenient trading transactions in a familiar currency.

See our selection of the best brokers with NOK accounts, thoroughly tested by our experts.

Best Brokers With NOK Accounts

Our evaluations have found that these are the top 3 trading platforms with NOK accounts:

Click a broker for details

1

Interactive Brokers

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Interactive Brokers Review

Ratings

Regulation & Trust 4.5 / 5

Accounts & Banking 3.5 / 5

Assets & Markets 4.5 / 5

Fees & Costs 4.3 / 5

Platforms & Tools 3.3 / 5

Customer Support 3 / 5

Research 4.4 / 5

Education 4.3 / 5

iOS App 4.3 / 5

Android App 4.5 / 5

Minimum Deposit $0

Minimum Trade $100

Leverage 1:50

Regulator FCA, SEC, FINRA, CFTC, CBI, CIRO, SFC, MAS, MNB, FINMA

Instruments Stocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, CFDs, Cryptocurrencies

Platforms Trader Workstation (TWS), IBKR Desktop, GlobalTrader, Mobile, Client Portal, AlgoTrader, OmniTrader, eSignal, TradingCentral

Payment Methods Cheque, ACH Transfer, Wire Transfer, Automated Customer Account Transfer Service, TransferWise, Debit Card

Account Currencies USD, EUR, GBP, CAD, AUD, INR, JPY, SEK, NOK, DKK, CHF, AED, HUF

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2

Revolut

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Revolut Review

Revolut is a financial technology company. Banking services provided by Metropolitan Commercial Bank, Member FDIC. Securities products and services provided by Revolut Securities Inc, member FINRA/SIPC. Securities products are not insured by the FDIC or any federal government agency, are not bank deposits, are not obligations of or guaranteed by Metropolitan Commercial Bank and are subject to investment risks, including possible loss of the principal amount invested.

Minimum Deposit $0

Minimum Trade $1

Leverage

Regulator FINRA, SEC

Instruments Stocks, Cryptos

Platforms Own

Payment Methods Wire Transfer, Debit Card, Credit Card, Apple Pay, Google Wallet, Visa, Mastercard

Account Currencies USD, EUR, GBP, CAD, AUD, JPY, ZAR, SEK, NOK, DKK, CHF, HKD, PLN, CZK, HUF

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3

Zacks Trade

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Zacks Trade Review

Minimum Deposit $2500

Minimum Trade $3

Leverage

Regulator FINRA

Instruments Stocks, ETFs, Cryptos, Options, Bonds

Platforms Own

Payment Methods Wire Transfer, ACH Transfer, Cheque

Account Currencies USD, EUR, GBP, CAD, AUD, NZD, INR, JPY, ZAR, TRY, SEK, NOK, DKK, CHF, HKD, SGD, RUB, PLN, CZK, HUF

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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.
Revolut - Revolut is a popular financial app that also offers trading on stocks, metals and digital currencies. The brand has over 25 million users worldwide with a choice of accounts, tools and services to suit different needs and budgets, including online investing and currency exchange.
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 NOK Accounts Comparison

Brokers With NOK Accounts Comparison
NOK 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
✔	$0	Stocks, Cryptos	FINRA, SEC
✔	$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
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

IBKR continues to deliver unmatched access to global stocks with tens of thousands of equities available from 100+ market centres in 24 countries.
The TWS platform has clearly been built for intermediate and advanced traders and comes with over 100 order types and a reliable real-time market data feed that rarely goes offline.
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.

Cons

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.
Support can be slow and frustrating based on tests, so you might find it challenging to reach customer service representatives promptly or encounter delays in resolving issues.

Visit Interactive Brokers

Interactive Brokers Review

Revolut

"Revolut is suitable for casual stock traders looking for an easy-to-use app with transparent fees and a low minimum investment."
William Berg, Reviewer

Revolut Quick Facts

Demo Account	No
Instruments	Stocks, Cryptos
Regulator	FINRA, SEC
Platforms	Own
Minimum Deposit	$0
Minimum Trade	$1
Account Currencies	USD, EUR, GBP, CAD, AUD, JPY, ZAR, SEK, NOK, DKK, CHF, HKD, PLN, CZK, HUF

Pros

Send money to 200+ countries
Multiple deposit and withdrawal options including wire transfer
Good range of account types with different perks and fees

Cons

Relatively narrow product range
No advanced trading platform
No margin trading

Visit Revolut

Revolut Review

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

Regulated by FINRA with access to the Securities Investor Protection Corporation
Comprehensive research and data
20+ account denominations

Cons

No forex, commodities or futures trading
Shortcomings regarding platform loading times and technical glitches
Withdrawal fees apply if removing funds more than once per month

Visit Zacks Trade

Zacks Trade Review

How Did We Choose The Best Brokers?

To find the best platforms with NOK accounts we:

Scoured our catalog of 500 online brokers and platforms
Prioritized all those that offer a trading account based in the Norwegian krone (NOK)
Rated them using 100+ data points and findings from our hands-on tests

What Is A NOK Account?

A NOK account is a trading account where the balance is denominated in Norwegian krone.

This means that your trades, transactions and account statements are held in NOK.

Below is an example of where I opened a NOK account with Dukascopy:

Opening a NOK account with Dukascopy — Dukascopy – NOK Account Registration

Do I Need A NOK Trading Account?

A NOK-based account may be suitable if:

You live in Norway and make money or save in NOK because it’s convenient holding an account in the same currency.
You want to trade NOK currency pairs such as USD/NOK and EUR/NOK because they may be subject to fewer associated charges such as conversions.
You actively trade Norwegian and Nordic stocks listed on the Nasdaq Nordic, meaning your transactions are faster and normally cheaper in NOK.

How Can I Check If A Broker Offers An Account In Norwegian Krone?

We took these easy three steps to check that all our recommended platforms offer a NOK account, and we suggest you do too:

Go to the account options section on the broker’s website and locate the selection of available base currencies.
Confirm that ‘NOK’ is available as a supported account currency in Norway.
Open a live or demo account and choose NOK as your base currency.

Pros & Cons Of NOK Trading Accounts

Pros

We’ve found brokers with NOK accounts often provide access to local or regional markets for Norwegian traders. At Dukascopy, for example, you can trade popular Norwegian share CFDs such as Norsk Hydro, as well as currency pairs like EUR/NOK and USD/NOK.
Active traders dealing in NOK may enjoy reduced conversion fees in a NOK account. Otherwise, some brokers like IG charge up to 0.8% when transferring between NOK and another currency.
The Norwegian krone is often considered a ‘safe haven’ currency, thanks to key factors like the nation’s prominence in oil and gas production and diverse economy. This means traders can enjoy relative stability while helping to protect against volatile exchange rate fluctuations.

Cons

Despite its stable history, the Norwegian krone has faced difficulties in recent years – Reuters claims it was the worst-performing G10 currency in 2023 due to the struggling banking sector and concerns over Norway’s future in oil production. Such factors may cause volatility and threaten NOK trading balances.
NOK accounts are uncommon (accounting for less than 2% of the brokers we’ve personally tested) compared to major base currencies like USD and EUR, giving day traders limited choice when picking a platform.
You may still face conversion fees when trading assets that are denominated in a currency other than NOK. Skilling, for example, charges a 0.7% conversion on top of the trade’s realized profit.

FAQ

Which Is The Best Broker With A NOK Trading Account?

We’ve thoroughly tested the best trading platforms with NOK accounts. See our list to find a suitable option for you.

How Much Does It Cost To Open A Trading Account Based In Norwegian Krone?

Many brokers will allow you to open an account with less than 250 USD (approximately 2,764 NOK) though our analysis have found many trading platforms offering lower.

Skilling, for example, only requires 100 USD – around 1,105 NOK. It’s also got one of the most intuitive trading platforms I’ve seen, limiting the learning curve for newer traders.

Article Sources

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