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Brokers With NOK Accounts

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Written By
Jemma Grist
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Written By
Jemma Grist
Jemma is a writer, editor and fact-checker focused on retail trading and investing. Jemma brings a unique perspective to the forex, stock, and cryptocurrency markets and works across several investment websites as a researcher and broker analyst.
» Jemma Grist Profile Page
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Edited By
James Barra
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Edited By
James Barra
James is an investment writer with a background in financial services. As a former management consultant, he has worked on major operational transformation programmes at prominent European banks. James authors, edits and fact-checks content for a series of investing websites.
» James Barra Profile Page
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. 1
    Interactive Brokers
    Ratings
    4.5 / 5
    3.5 / 5
    4.5 / 5
    4.3 / 5
    3.3 / 5
    3 / 5
    4.4 / 5
    4.3 / 5
    4.3 / 5
    4.5 / 5
    $0
    $100
    1:50
    FCA, SEC, FINRA, CFTC, CBI, CIRO, SFC, MAS, MNB, FINMA, AFM
    Stocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, CFDs, Cryptocurrencies
    Trader Workstation (TWS), IBKR Desktop, GlobalTrader, Mobile, Client Portal, AlgoTrader, OmniTrader, eSignal, TradingCentral
    Cheque, ACH Transfer, Wire Transfer, Automated Customer Account Transfer Service, TransferWise, Debit Card
    USD, EUR, GBP, CAD, AUD, INR, JPY, SEK, NOK, DKK, CHF, AED, HUF
    Go To Interactive Brokers
  2. 2
    Revolut
    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.
    $0
    $1
    FINRA, SEC
    Stocks, Cryptos
    Own
    Wire Transfer, Debit Card, Credit Card, Apple Pay, Google Wallet, Visa, Mastercard
    USD, EUR, GBP, CAD, AUD, JPY, ZAR, SEK, NOK, DKK, CHF, HKD, PLN, CZK, HUF
    Go To Revolut
  3. 3
    Zacks Trade
    $2500
    $3
    FINRA
    Stocks, ETFs, Cryptos, Options, Bonds
    Own
    Wire Transfer, ACH Transfer, Cheque
    USD, EUR, GBP, CAD, AUD, NZD, INR, JPY, ZAR, TRY, SEK, NOK, DKK, CHF, HKD, SGD, RUB, PLN, CZK, HUF
    Go To Zacks Trade

Here is a short summary of why we think each broker belongs in this top list:

  1. 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.
  2. Revolut - Revolut has emerged as the most downloaded financial app in 11 countries with over 45 million users and more than $23 billion held in customer balances. It facilitates commission-free trading on over 2000 stocks and commodities, alongside 185 cryptos with a minimum investment of just $1. The mobile trading experience remains market-leading for casual investors seeking low, transparent fees.
  3. 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
Broker NOK Account Minimum Deposit Markets Regulator
Interactive Brokers logo
✔ $0 Stocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, CFDs, Cryptocurrencies FCA, SEC, FINRA, CFTC, CBI, CIRO, SFC, MAS, MNB, FINMA, AFM
Revolut logo
✔ $0 Stocks, Cryptos FINRA, SEC
Zacks Trade logo
✔ $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 AccountYes
InstrumentsStocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, CFDs, Cryptocurrencies
RegulatorFCA, SEC, FINRA, CFTC, CBI, CIRO, SFC, MAS, MNB, FINMA, AFM
PlatformsTrader Workstation (TWS), IBKR Desktop, GlobalTrader, Mobile, Client Portal, AlgoTrader, OmniTrader, eSignal, TradingCentral
Minimum Deposit$0
Minimum Trade$100
Leverage1:50
Account CurrenciesUSD, 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.
  • 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.

Cons

  • 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.
  • 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.
  • 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.
Visit Interactive Brokers
Interactive Brokers Review

Revolut

"Revolut is a cut above the competition for mobile traders, sporting a genuinely intuitive app, five pricing plans to suit different needs (Standard, Plus, Premium, Metal and Ultra), custom alerts, company performance metrics, financial news, and interactive quizzes. "

William Berg, Reviewer

Revolut Quick Facts

Demo AccountNo
InstrumentsStocks, Cryptos
RegulatorFINRA, SEC
PlatformsOwn
Minimum Deposit$0
Minimum Trade$1
Account CurrenciesUSD, EUR, GBP, CAD, AUD, JPY, ZAR, SEK, NOK, DKK, CHF, HKD, PLN, CZK, HUF

Pros

  • The app delivers a superb investing environment with a slick design and a packed ‘Discover’ section with daily top movers, collections like ‘Technology’ and ‘Utilities’ and popular stocks.
  • Revolut uses cutting-edge security features with multiple layers, from PINs and passcodes to biometrics and one-time passwords, with $590M saved in fraudulent transactions.
  • Trade a growing roster of 2000+ stocks, 185+ cryptos and precious metals like gold, silver and platinum with fees starting from 0%.

Cons

  • Some users may find Revolut’s pricing structure confusing; while basic accounts have zero monthly fees, you may need to pay for foreign exchange beyond the specified limit and ATM withdrawals.
  • The Revolut app is an excellent starting point for casual investors but testing reveals its charting package falls short for advanced traders with just two charts (line and candlestick) and six timeframes (1D to 5Y).
  • While the range of shares, commodities and cryptocurrencies is growing, Revolut still lacks popular asset classes like ETFs and does not support margin trading, trailing alternatives like Trade Republic.
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 AccountYes
InstrumentsStocks, ETFs, Cryptos, Options, Bonds
RegulatorFINRA
PlatformsOwn
Minimum Deposit$2500
Minimum Trade$3
Account CurrenciesUSD, EUR, GBP, CAD, AUD, NZD, INR, JPY, ZAR, TRY, SEK, NOK, DKK, CHF, HKD, SGD, RUB, PLN, CZK, HUF

Pros

  • Demo account
  • Comprehensive research and data
  • Customizable proprietary trading platform and mobile app

Cons

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

  1. Go to the account options section on the broker’s website and locate the selection of available base currencies.
  2. Confirm that ‘NOK’ is available as a supported account currency in Norway.
  3. 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

The writing and editorial team at DayTrading.com use credible sources to support their work. These include government agencies, white papers, research institutes, and engagement with industry professionals. Content is written free from bias and is fact-checked where appropriate. Learn more about why you can trust DayTrading.com