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Nordnet Sweden: AF, ISK and KF accounts, trading tariffs, currency balances and credit

A Sweden-specific profile covering direct securities ownership and insurance wrappers, ordinary and segment tariffs, currency conversion, portfolio borrowing, short selling, listed products, funding and investor protection.

By Editorial deskOperating status: ActiveSources checked Published Updated

Nordnet’s Swedish service combines securities, funds, savings and pension/insurance accounts. FX features include conversion, credit-enabled currency balances and listed currency products. Ownership, tax treatment and borrowing depend on the account.[2][19][42]

Entities & regulation01

Provider and geographical scope

Provider and geographical scope
AreaVerified distinction
BankFI’s named register lists Nordnet Bank AB as active, with banking, securities and insurance-distribution activities. Its FI institution reference is 11141.Source 1
Insurance providerNordnet identifies Nordnet Pensionsförsäkring AB separately for insurance and pension products.Source 46
CountryThe rates and opening routes below concern Sweden. FI also lists Danish, Finnish and Norwegian branches; their local account conditions require separate assessment.Source 1

Account ownership and eligibility

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Account comparison02

Swedish account types

Swedish account types
AccountOwnership and main useAccount charge
AF: Aktie- och fondkontoOrdinary securities account; customer owns holdings and reports taxable transactions.No fixed account fee; transaction/product charges apply.Source 3Source 2
ISK: InvesteringssparkontoInvestment account with direct ownership and standardised annual Swedish taxation, rather than reporting each gain/loss.No account fee advertised.Source 4Source 2
KF: KapitalförsäkringInsurance wrapper: insurer owns the chosen securities; policyholder can name a beneficiary and has no direct AGM voting right.No fixed account fee; insurance risk and investment charges remain.Source 5Source 2
SparkontoSeparate cash savings account for individuals and companies.No account fee or lock-in; free withdrawals/transfers advertised.Source 6
Pension / child savingOccupational pensions, private pension and IPS routes; saving in a child’s name passes control to the child at 18.Product and eligibility conditions differ.Source 2
Account comparison03

Residence and opening restrictions

Residence and opening restrictions
ApplicantPublished treatment
Foreign citizen resident in SwedenThe FAQ permits AF, ISK, KF and savings applications; passport or identity-copy evidence may be required.Source 7
Foreign citizen abroadAF/savings applications require residence and tax domicile in EU/EEA, UK or Switzerland plus a Sweden connection, such as citizenship or personal number. Identity and overseas-address evidence apply.Source 8
Swedish citizen abroadThe corresponding FAQ lists EU/EEA or Switzerland, omitting UK. A UK-based applicant should resolve this difference before relying on the broader nonresident page.Source 9Source 8
ISK/KF while abroadNew ISK and KF opening is unavailable to nonresidents. Existing accounts after emigration have different tax/reporting treatment and need account-specific review.Source 9
Banking connectionNordnet does not accept cross-border bank deposits or withdrawals. An accepted nonresident still needs an account with another Swedish bank.Source 8
Companies and minorsKF and AF support companies; ISK is for individuals. Minors can have accounts but cannot activate credit-requiring currency accounts.Source 5Source 4Source 17
Account comparison04

Tax and beneficiary distinctions that affect account choice

Tax and beneficiary distinctions that affect account choice
ItemPractical consequence
2026 ISK basisSwedish Tax Agency states 1.065% on the relevant taxable capital base above the allowance. The SEK 300,000 allowance is combined across ISK, KF and PEPP savings, not separately available for every account.Source 48
AF currency recordsSecurities disposals are reported in SEK; AF currency transactions need separate customer reporting.Source 19
KF beneficiaryAn adult-owned policy can name a child as beneficiary; the policyholder controls intended payout timing under the contract.Source 5
Unlisted Swedish securitiesAdditional charges apply; ordinary listed-share commissions do not price this route.Source 5

Ordinary commissions, service tiers and promotions

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Pricing & charges05

Ordinary brokerage classes on principal exchanges

Ordinary brokerage classes on principal exchanges
ClassNordic rate / minimumOutside Nordics rate / minimum
Mini0.25%; SEK 10.25%; SEK 9Source 10
Liten0.15%; SEK 390.15%; SEK 49Source 10
Mellan0.069%; SEK 690.089%; SEK 69Source 10
FastSEK 99 flat0.079%; SEK 99Source 10
Pricing & charges06

Private Banking: published main-list tariffs

Private Banking: published main-list tariffs
Tier / capitalNordicsOutside Nordics
Gold Standard / SEK 2.5m–10m0.055%; minimum SEK 590.069%; minimum SEK 69Source 12
Platinum / SEK 10m–30m0.05%; minimum SEK 1, maximum SEK 990.05%; minimum SEK 9Source 12
Black / SEK 30m–100m0.045%; minimum SEK 1, maximum SEK 890.045%; minimum SEK 9Source 12
Signature / above SEK 100mIndividually agreedIndividually agreedSource 12
Account comparison07

Active Trading and Private Banking services

Active Trading and Private Banking services
ServiceEligibility and limits
Active Trading admissionBenchmark SEK 2,000 paid brokerage per month, approximately 40 trades; individual assessment and a separate agreement are required. It is not automatic merely because an order count is reached.Source 13
Negotiated active tariffThe service page advertises 0.034% and lower, depending on trading; it does not establish one universal minimum commission or venue schedule.Source 15
Bundled executionsActive Trading includes bundling of at least three orders on Nordic main lists into one contract note/commission under its models.Source 15
Private Banking toolsResearch Portal, priority service, broker desk, algorithms and US pre-market access are listed; segment and product conditions apply.Source 14
Extending segment benefitsPlatinum household and Black/Signature family extensions require contacting support. Mortgage discounts use the borrower’s own assets and have separate timing rules.Source 14
Pricing & charges08

Jubilee offer: a dated alternative to ordinary tariffs

Jubilee offer: a dated alternative to ordinary tariffs
ConditionCurrent 2026–2027 campaign
JoiningEntirely new direct Swedish customers registered completely between 8 September and 31 December 2026; individuals and companies. Pricing starts the next banking day.Source 11
Duration / turnoverEligible Nordic exchange trading free through 30 June 2027 or until SEK 10 million turnover; then Mini terms apply.Source 11
Eligible ordersApp/website shares, ETFs, subscription rights and subscription warrants on the named Nordic venues. Outside-Nordic named venues: 0.15%, minimum SEK 9.Source 11
Excluded relationshipsPrevious Nordnet login through another country, pension or power of attorney can disqualify the applicant; partner-managed accounts are excluded. FX conversion, market taxes and depositary-receipt charges remain separate.Source 11
Old account-page wordingAF/ISK landing pages still show the earlier SEK 50,000/500-trade introduction. Do not assume this is cumulative with the dated jubilee offer.Source 3Source 4Source 11

Currency accounts and conversion

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Pricing & charges09

Automatic versus manual conversion

Automatic versus manual conversion
RouteCharge and operating scope
Automatic conversion0.25% markup on each conversion at the prevailing exchange rate. Trades in unsupported account currencies and fund transactions use automatic conversion.Source 16
Foreign dividendsAutomatically converted dividends are credited in SEK without the usual FX markup.Source 16
Manual currency balance0.075% conversion markup; available currencies EUR, USD, CAD, DKK and NOK. Opening the eligible currency facility itself is free.Source 16
Conversion timeReal-time 07:45–22:10 Swedish time on the stated trading days; outside-window orders are processed next banking day. Website/app conversion is supported after activation.Source 16
Account comparison10

Who can activate currency accounts

Who can activate currency accounts
AccountRequirements and restrictions
AFAdults and companies: approved currency knowledge test and credit agreement. Activation is on the website, not the app; minors are excluded.Source 17
ISK/KFPrivate Banking or Active Trading membership, approved credit and both portfolio-borrowing and currency-account knowledge tests. Applications outside these segments are rejected.Source 18
Removing a currencyIts balance must first be zero. Deactivating a currency ledger is different from closing the securities account or repaying all credit.Source 17
External funding for ISK/KFSEK only, even with a currency ledger. Foreign-currency bank transfers are an AF feature.Source 18
Protections & eligibility11

Cash in the wrong currency can create a loan

Cash in the wrong currency can create a loan
SituationPublished consequence
AF balance mismatchA positive balance in one currency can coexist with a negative, interest-bearing balance in another. Currency movements can increase the SEK value of the debt.Source 19
ISK/KF currency shortfallNordnet covers the missing currency through the credit account instead of another positive currency balance. This can create borrowing and a deposit counted in the tax base.Source 19
Rate consequenceAutomatic shortfall conversion uses 0.25%, rather than the 0.075% manual route available if the currency had been bought beforehand.Source 16
Settlement mattersUS/Canada shares settle T+1, European shares normally T+2. Converting sale proceeds before settlement can incur interest until the cash actually settles.Source 19

Deposits and withdrawals

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Account comparison12

Deposit methods and timing

Deposit methods and timing
MethodPublished conditions
Direct depositSwish or Trustly through Nordnet’s website/app; the deposit guide supports the customer’s own accounts and accounts operated under power of attorney.Source 23
Bank transferUse the unique bank-account number for the target Nordnet account. Morning transfers generally appear that afternoon, subject to the sending bank’s cutoff.Source 23
Linked-account depositExisting linkage: normally 1–2 banking days. New linkage plus first deposit: approximately 3–4 banking days.Source 23
Pension restrictionsThe general route excludes deposits to occupational-pension/capital-pension accounts and pensions already paying out. Overseas bank deposits are not accepted.Source 23
Swish limitsSet by the external bank and Swish settings; Nordnet does not state one universal amount on this FAQ. Swish supports deposits, not withdrawals.Source 24Source 25
Account comparison13

Linking an external Swedish bank account

Linking an external Swedish bank account
VerificationWho can use it / expected time
TrustlyImmediate BankID verification for adult individual owners; unavailable for minors, companies or another person’s account under power of attorney.Source 22
BankgirotManual-number verification, approximately one banking day; supports individuals, minors, companies and authorised representatives if the external account belongs to the same owner.Source 22
AutogiroApproximately two banking days; adult personal account. Requires a sole-owner transaction account, not a joint account, savings account or external ISK.Source 22
Account comparison14

Foreign-currency deposits and withdrawals

Foreign-currency deposits and withdrawals
RoutePublished conditions
AF depositsActivate the matching foreign currency first; transfer only from another Swedish bank with the Nordnet account’s numeric reference. Received currency is booked manually in the afternoon.Source 20
AF withdrawalHave settled available cash in the chosen currency before submitting a BankID-signed form. Receiving account must be in the customer’s name at a Swedish bank.Source 21
Fee disagreementAF/wrapper currency pages state SEK 200 administration; the dedicated withdrawal FAQ explicitly exempts foreign-currency withdrawals from that fee. Confirm the applicable charge before instructing a transfer.Source 17Source 21
ISK/KF withdrawalsSEK only, even after opening a foreign-currency ledger.Source 21
Account comparison15

Withdrawal cutoffs and manual charges

Withdrawal cutoffs and manual charges
MethodPublished processing / cost
Linked bank accountBefore 14:20 on a banking day: expected same-afternoon receipt. Later: next banking day.Source 26
Manual withdrawal formBefore 10:00: expected same-afternoon receipt; later: next banking day. Ordinary fee SEK 200. Currency transfers take approximately three banking days, depending on currency and recipient bank.Source 27
ExpressBefore 14:30 on a weekday: expected same-day receipt, around 1–2 hours. Fee SEK 499.Source 28
Large withdrawalLinked-account limit SEK 5 million per day across all accounts. Larger requests can use a fee-exempt form option, or be split over days; only a same-owner receiving account is allowed.Source 29
Account comparison16

KF reserves and full closure

KF reserves and full closure
ItemPublished rule
Available balanceNordnet reserves upcoming monthly insurance-risk costs and relevant credit obligations. Risk cost varies with age and insured account value.Source 30
Full withdrawalTo remove the entire policy balance, sell holdings, withdraw the available amount and submit a closure instruction. Remaining proceeds are paid after applicable return tax is deducted.Source 30
First yearA KF must have been open for at least one year before it can be closed. This is different from ordinary partial-withdrawal availability.Source 30

Portfolio credit, intraday limits and short selling

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Pricing & charges17

Published portfolio-credit interest

Published portfolio-credit interest
LevelNominal annual rate
Ordinary base6.91%Source 31
Plus level1 / level22.22% / 4.54%Source 31
Private Banking Gold / Platinum / Black5.11% / 4.82% / 4.54%Source 31
Active Trading Pro4.54%Source 31
Protections & eligibility18

Plus borrowing discount conditions

Plus borrowing discount conditions
ConditionLevel1Level2
Largest approved stock/ETF share of eligible portfolio20% maximum25% maximumSource 31
Largest approved fund share of eligible portfolio60% maximum75% maximumSource 31
Used eligible lending value40% maximum60% maximumSource 31
Protections & eligibility19

How credit limits and forced sales operate

How credit limits and forced sales operate
RulePractical consequence
Borrowing ceilingThe lower of the agreed credit limit and current collateral lending value. Market value and lending percentages can change.Source 32
InterestThe risk document calculates interest daily while credit is used. A purchase or withdrawal above cash can start borrowing; credit approval alone does not mean the loan is drawn.Source 32
ShortfallMust be cured immediately, without waiting for a reminder. The bank can realise securities without prior warning and may charge excess-credit interest and liquidation fees.Source 32
No promised stopout protectionThe bank has the right, not the obligation, to close positions. Losses may exceed invested equity and leave a recoverable debt.Source 32
Account comparison20

Intraday additional trading room

Intraday additional trading room
ItemPublished limit
EligibilityAF only; approved credit agreement, minimum account value SEK 10,000 and age 18 or over for individuals.Source 33
SizeAdditional room equals account equity, capped by unused approved credit and SEK 3 million.Source 33
Same-day conditionCover the negative balance before the exchange closes through cash arriving that banking day or sale of securities.Source 33
Cost and breachNo extra facility cost when used as required; failing to cover can trigger excess-credit interest, fees, forced sales and termination.Source 33
ReapplicationAfter cancellation for excess borrowing or exceeded credit, wait seven banking days before applying again.Source 33
Protections & eligibility21

Customer short selling is a separate stock-loan service

Customer short selling is a separate stock-loan service
ItemPublished rule
Eligible accountAF only. Requires the securities-lending master agreement plus approved credit/disposal agreement; ordinary borrowing approval alone is insufficient.Source 36
Same-day closeOrdinary brokerage and any currency conversion apply; the short-cost FAQ states no extra stock-loan charge if opened and bought back that day.Source 34
Overnight loanSEK 200 administration plus annual borrowing interest from 3%, varying with stock availability. Brokerage and FX remain additional.Source 34
Collateral calculationRequired collateral = 200% minus the stock’s lending percentage, applied to current short market value. At an 85% lending percentage the requirement is 115%; short-sale proceeds contribute toward it.Source 35
Credit exposureDebt, short-position market value and derivative collateral requirements must fit the credit limit. Positive cash does not erase this separate exposure-limit test.Source 35

Products, funds and cash savings

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Account comparison22

Investment access and economic ownership

Investment access and economic ownership
ProductHow exposure is obtained
Shares, funds and ETFsOrdinary securities/fund investment through the supported account; account ownership and permitted assets depend on AF, ISK or KF.Source 3
Currency exposureAF currency balances may involve a foreign-currency debt; Nordnet Markets also provides exchange-listed securities linked to currency pairs. These are different mechanisms.Source 19Source 42
Indices, commodities and equities through MarketsBull/Bear certificates, Mini Futures, Unlimited Turbos and unleveraged Trackers provide issuer-defined exposure to underlying markets.Source 43Source 44
Cash savingsSeparate savings account currently quotes 1.35% effective annual interest and 1.34% nominal, paid monthly from the first krona. The variable rate is a checked snapshot.Source 6
Pricing & charges23

Nordnet One: proprietary allocation funds

Nordnet One: proprietary allocation funds
FundPublished allocationAnnual fee
Försiktig30% shares / 70% fixed income0.34%Source 41
Balanserad60% shares / 40% fixed income0.34%Source 41
Offensiv100% shares0.35%Source 41
Protections & eligibility24

Listed product mechanics differ

Listed product mechanics differ
ProductLeverage, barrier and holding consequence
Bull / BearDaily leverage resets. A multi-day result depends on the sequence of daily moves; it is not the stated multiple of the underlying’s cumulative move. Financing is deducted nightly.Source 52
Mini FuturesLeverage changes as product value moves. A stop-loss barrier terminates the product; any residual depends on liquidation and can be zero. Financing adjusts the financing level daily.Source 53
Unlimited TurbosThe product page specifies zero residual after the stop-loss barrier is hit: the entire product investment is lost.Source 51
TrackersUnleveraged listed exposure to the stated underlying or theme. The instrument’s legal structure and individual terms still determine how that exposure is delivered.Source 51
Protections & eligibility25

Nordnet Markets costs and issuer risk

Nordnet Markets costs and issuer risk
ItemPublished condition
Commission thresholdEligible website/Infront/Next API orders at least SEK 1,000, DKK 1,000, NOK 1,000 or EUR 100 have zero brokerage. Smaller orders and telephone orders use the ordinary tariff.Source 43
Other costsCurrency conversion remains chargeable where applicable. Product-level financing is separate from brokerage; examine the individual KID and final terms.Source 43Source 52Source 53
IssuerCurrent risk page identifies J.P. Morgan SE as issuer. Investors bear issuer credit exposure and the products do not receive the bank deposit guarantee.Source 44
Liquidity and capitalTrading can become unavailable during market disruption or pricing difficulties; products are not principal-protected and the entire invested amount can be lost.Source 44
Account comparison26

Insurance stock-lending programme

Insurance stock-lending programme
ItemPublished arrangement
Eligible holdingsStocks selected within capital and pension insurance can be lent to institutional counterparties by Nordnet Pension, their formal owner, through an agent.Source 37
Client dealingThe programme adds no direct client fee and the product page says ordinary buying/selling remains available.Source 37
Income distributionAfter a 15% agent-cost deduction, remaining lending revenue is split equally between customer and Nordnet. Payment is quarterly, minimum SEK 1; income varies with holdings, demand and lending duration.Source 37

Platforms, automation and service

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Platforms & products27

Website, app and professional software

Website, app and professional software
PlatformWhat the reviewed sources establish
Nordnet website / appFree native app for iPhone/Android with orders, watchlists and account views; browser access supports PCs, Macs and tablets. Trading and product fees remain separate.Source 38
App research and social toolsNews tied to holdings, analyst information, Quartr earnings audio, Nordnet Social and Academy. Social discussion does not establish automatic copying of another investor’s trades.Source 39
Infront Active TraderDesktop tools with technical/fundamental analysis, news, alerts, stop-loss and click trading; published scope includes seven markets across Nordics, Germany, US and Canada.Source 40
AlgorithmsActive Trading advertises schedule-based execution such as TWAP/VWAP. The broker warns these orders can cost more than an ordinary order; consult pre-trade cost disclosure.Source 15
API qualificationThe Markets fee page names Next API as a channel. It does not by itself establish unrestricted public retail API onboarding, a free API subscription or MT4/MT5 support.Source 43
Pricing & charges28

Infront subscription prices and trial

Infront subscription prices and trial
Client groupMonthly price / condition
Active TradingSEK 399; waived at SEK 5,000 monthly brokerage.Source 40
Private BankingSEK 699.Source 40
Other customersSEK 999.Source 40
Trial14 days free on request. This is a software trial; no original paper-trading or live-execution test was conducted for this profile.Source 40

Protection, complaint routes and limits

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Protections & eligibility29

Cash and custody protection are different

Cash and custody protection are different
ProtectionScope
Swedish cash guaranteeFrom 1 January 2026, maximum SEK 1,150,000 per person per institution. Multiple eligible Nordnet Bank accounts share that bank-level limit.Source 49
Custody failureGovernment investor protection may compensate up to SEK 250,000 where an insolvent institution cannot return covered assets. It does not compensate ordinary market losses.Source 50
Segregated securitiesNordnet Bank’s disclosure requires customer securities to be separate from its own property; normally holdings should be returned in an insolvency rather than capped at the compensation limit.Source 47
IPS and insurance distinctionThe bank’s disclosure excludes IPS from its deposit and investor-protection schemes. KF instead has insurance-policy priority rights; it is not treated as the policyholder’s direct guaranteed bank account.Source 47Source 5
Special cash eventsThe bank’s disclosure describes up to SEK 5 million additional eligible-life-event protection and a normal seven-working-day guarantee payout process, subject to statutory conditions.Source 47
Trading & service hours30

Swedish contact desks

Swedish contact desks
ServicePublished weekday hours / contact
Customer service08:30–18:00; +46 10 583 30 00. Noncustomers can use [email protected]; signed-in customers can message or chat.Source 45
Private Banking / Active Trading08:30–17:30; +46 10 583 37 00 / +46 10 583 31 99.Source 45
Order desk08:30–17:45, with published US trading desk 15:30–22:00; +46 10 583 31 00.Source 45
VisitsSupport is by remote channels; Nordnet says it cannot receive customer visits at the office.Source 45
Protections & eligibility31

Complaints and review

Complaints and review
StagePublished process
Initial concernCustomer service first; trade-related issues go to the broker desk. Messages can be submitted through the authenticated website.Source 46
Formal complaintEscalate to the chief legal officer responsible for complaints using signed-in message, BankID form or post. Complaints about bank and pension-insurance products are handled without a complaint fee.Source 46
Time targetNordnet aims to respond within 14 days and explains when more time is needed. A review request should supply new information not previously considered.Source 46
External disputeThe policy identifies Allmänna reklamationsnämnden (ARN) and court routes. The route appropriate to a consumer differs from that for a company.Source 46

Company background & evidence

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Headquarters
Stockholm, Sweden
The companies behind the brand

Legal entities & licences

These are source-dated records, not a blanket assessment of the broker. Read each issuer, identifier, status and scope together.

Nordnet Bank AB

SwedenSource 1

Licences and regulatory records for Nordnet Bank AB
Issuer & identifierRecorded statusDate & scope
Finansinspektionen11141AuthorisedChecked 10 Oct 202611141 is the official FI institution reference, not a single product-licence number. The named current entry is active and lists banking and investment-service permissions.Source 1

Nordnet Pensionsförsäkring AB

SwedenSource 46Source 45

No separate licence entry is recorded in this panel.

Follow the evidence

Sources & further reading

  1. Nordnet Bank AB: current Finansinspektionen register entry Finansinspektionen · Accessed 10 Oct 2026
  2. Swedish account types and ownership Nordnet · Accessed 10 Oct 2026
  3. Savings-account rates and access Nordnet · Accessed 10 Oct 2026
  4. Ordinary Swedish online brokerage classes Nordnet · Accessed 10 Oct 2026
  5. Private Banking tariff and capital tiers Nordnet · Accessed 10 Oct 2026
  6. Foreign-currency deposits into AF Nordnet · Accessed 10 Oct 2026
  7. Same-owner external bank verification Nordnet · Accessed 10 Oct 2026
  8. Deposit routes and timing Nordnet · Accessed 10 Oct 2026
  9. Swish deposit limits Nordnet · Accessed 10 Oct 2026
  10. Swish supports deposits only Nordnet · Accessed 10 Oct 2026
  11. Linked-bank withdrawal cutoff Nordnet · Accessed 10 Oct 2026
  12. Manual withdrawal fee and processing Nordnet · Accessed 10 Oct 2026
  13. Express withdrawal fee and cutoff Nordnet · Accessed 10 Oct 2026
  14. Short-selling collateral and credit limits Nordnet · Accessed 10 Oct 2026
  15. Website and mobile platform availability Nordnet · Accessed 10 Oct 2026
  16. Nordnet Markets issuer and liquidity risks Nordnet · Accessed 10 Oct 2026
  17. Swedish service desks and availability Nordnet · Accessed 10 Oct 2026
  18. Complaint handling for bank and insurer Nordnet · Accessed 10 Oct 2026
  19. 2026 ISK tax and combined tax-free allowance Swedish Tax Agency · Accessed 10 Oct 2026
  20. Deposit-guarantee limit effective 1 January 2026 Swedish National Debt Office · Accessed 10 Oct 2026
  21. Government deposit and investor-protection overview Swedish National Debt Office · Accessed 10 Oct 2026

This profile reports dated public information, including broker-published services and terms. It does not independently test or guarantee execution, pricing or withdrawals. Inclusion is not an endorsement. Permissions and protections apply only to the named legal entity, service and client category; check the current official records and your contract.

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