Widely known in Germany, Trade Republic has attracted the attention of several Danish investors, offering interest on uninvested cash, a slick and modern app, free savings plans, and €1 trades.
Want to know if Trade Republic is available in Denmark, the company’s expansion plans, and the alternatives available for Danish investors? We’ve got you covered.
Is Trade Republic available in Denmark? 🇩🇰
No, Trade Republic is not yet available in Denmark.
Trade Republic is investing in its European expansion, however the company hasn’t shared publicly any plans to expand to Denmark. Its most recent new market was Poland in September 2025, its first outside the eurozone, which suggests non-euro markets are no longer off the table. Denmark has not been announced.
We have tried to open an account and Denmark was presented as one of their unsupported countries:
Trade Republic is not available in Denmark
Where is Trade Republic available? 🌎
Currently, Trade Republic is available in 18 European countries: Austria, Belgium, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, the Netherlands, Poland, Portugal, Slovakia, Slovenia, and Spain.
Alongside Denmark, it also remains unavailable in Sweden, Norway, Switzerland, the UK and several other European markets.
Before you pick a broker: how Denmark taxes investments
Danish tax rules affect the choice of broker more than in most European countries, so it is worth understanding them before you open anything.
Lagerbeskatning. Most ETFs held by Danish residents are taxed annually on the change in value over the calendar year, whether or not you have sold anything. If your fund rises DKK 15,000 in a year, you owe tax on DKK 15,000. This is unusual: in most countries you are taxed only when you realise a gain. It also means you need cash available to pay a bill on a profit you have not banked.
The positivliste. SKAT publishes an annual list of share-based investment companies. If your ETF appears on it, gains are taxed as share income (aktieindkomst) at 27% up to DKK 79,400 of gains per year and 42% above that. If it does not appear, gains fall into capital income (kapitalindkomst) and can be taxed at a higher effective rate. The mark-to-market treatment applies either way. The most popular broad ETFs, tracking MSCI World, the S&P 500 and MSCI ACWI, are generally on the list, but check the ISIN before buying rather than assuming.
The Aktiesparekonto (ASK). This share savings account taxes returns at a flat 17%, well below the 27% to 42% that applies in a normal depot. Lagerbeskatning still applies inside it. The 2026 contribution limit is DKK 174,200, you may only hold one across all providers, and it is restricted to individual shares and positivliste ETFs.
Why this matters for broker choice. The ASK is a Danish account type, and foreign brokers generally do not offer it. If you want one, you will need a Danish institution, whatever else you use alongside it. A foreign broker also will not report to SKAT the way a Danish one does, so you take on the reporting yourself, and preserving the right to deduct future losses depends on Skattestyrelsen receiving acquisition information on time.
A reasonable approach for many Danish investors is therefore both: a Danish provider for the ASK up to the annual limit, and an international broker for everything above it. Tax rules change and individual circumstances differ, so confirm the current position with SKAT or an adviser before acting.
Trade Republic Alternatives in Denmark
- Interactive Brokers: Best for experienced investors
- eToro: Best for commission-free ETF investing and social trading
- Trading 212*: The closest alternative. New users get a free fractional share.
*Capital at Risk. Sponsored Link. To get free fractional shares worth up to 100 EUR/GBP, you can open an account with Trading 212 through this link. Terms apply.
52% of retail CFD accounts lose money.
Capital at Risk. Sponsored Link. To get free fractional shares worth up to 100 EUR/GBP, you can open an account with Trading 212 through this link. Terms apply.
Conclusion
If you want to open a Trade Republic account from Denmark, you are out of luck: it is not possible. However, we believe any of the above-mentioned brokers will be good choices.
For example, Interactive Brokers is one of the most reputable global brokers, known for its low trading fees, wide range of assets (including global stocks, ETFs, options, and futures), and advanced trading tools, making it ideal for experienced investors. Its currency conversion cost of around 0.002% is also the lowest of the three, which matters if you buy assets priced in dollars.
eToro stands out for its user-friendly interface and social trading features, allowing you to copy the strategies of other investors. ETF trades carry no eToro commission, though real stock trades now carry a flat commission and currency conversion costs are higher than at Interactive Brokers.
Trading 212 offers commission-free trading and an intuitive mobile app, making it the closest match to what draws Danes to Trade Republic in the first place, though its product range is more limited compared to Interactive Brokers.
Whichever you choose, remember that none of them offers an Aktiesparekonto, and that you will be responsible for your own SKAT reporting. Many Danish investors run a Danish provider for the ASK alongside an international broker for the rest.
If you haven’t found a match, you can still look at our comparison of online brokers available by country.
Risk disclaimer: When investing, your capital is at risk and you may get back less than invested. Past performance doesn’t guarantee future results.
FAQs
What is Trade Republic?
Founded in 2015, Trade Republic is an investment app that allows users to invest in stocks, ETFs, bonds, derivatives and crypto, plus savings plans covering all of these. It has around 8 million customers and roughly €100 billion in customer assets, and was valued at €12.5 billion in a secondary share sale in December 2025. Trade Republic Bank GmbH has held a full ECB credit institution licence since December 2023 and is supervised by BaFin and the Bundesbank. Cash is covered by the deposit guarantee scheme up to €100,000, and securities are held in segregated custody.
How does Trade Republic make money?
For years the answer was largely payment for order flow (PFOF), which at its peak accounted for around a third of overall income. That ended: the EU ban on PFOF took effect on 30 June 2026, and since July 2026 Trade Republic executes orders on its own BaFin-authorised infrastructure, having received a Multilateral Trading Facility licence in January 2026.
Today the main revenue sources are:
- Order fees: €1 per trade on stocks, ETFs and bonds, with savings plan executions free. Choosing your own execution venue costs €2 per order;
- Net interest income: Trade Republic pays clients a rate tied to the ECB deposit facility and keeps the spread on the balances it holds;
- Card and spending revenue: interchange from its Visa debit card, alongside its chequing and spending products;
- Currency conversion and other charges: applied when you buy assets priced outside your account currency.
Can I use a VPN to open a Trade Republic account from Denmark?
No. Trade Republic requires documentation proving residency in one of its supported countries at account opening, so a VPN will not get you an account. It would also create problems later: your broker’s tax reporting and your SKAT filing both depend on your genuine country of residence.
Can I keep my Trade Republic account if I move to Denmark?
Trade Republic requires residency in a supported country, so moving to Denmark affects your eligibility. Contact their support before you move to understand what happens to an existing account, and factor in that Danish tax residency changes how your holdings are taxed regardless of where the account sits.
Which broker is closest to Trade Republic for a Danish investor?
Trading 212 is the closest in spirit: commission-free stock and ETF trading, a simple mobile app, fractional shares, and interest on uninvested cash. The main gaps against Trade Republic are the absence of bonds and a smaller derivatives range. Interactive Brokers is the better fit if you want breadth of markets and the lowest currency conversion costs.
