Investing in Finland: Complete Guide for 2026

Last updated: 2 September 2026

Table of Contents

Finland offers retail investors a mature, highly regulated market with access to Finnish and international shares, UCITS ETFs, mutual funds and digital investment platforms. Residents can invest through domestic banks, Nordic platforms such as Nordnet, or investment firms operating cross-border under European Economic Area rules.

This guide explains the main options available to individuals who are tax-resident in Finland. It also covers Finnish capital-income taxation, the Equity Savings Account, ETF treatment, reporting through foreign brokers and the unusual tax treatment of contracts for difference.

Broker availability and product ranges can change. Confirm the provider’s current Finnish onboarding policy, contracting entity and product documentation before opening an account.

The Investment Landscape in Finland

Finnish retail investors commonly use:

ordinary book-entry or securities accounts;
domestic bank brokerage services;
Nordic and international online brokers;
monthly savings plans for funds and ETFs; and
the Finnish Equity Savings Account, or osakesäästötili (OST), for eligible listed shares.

Finland participates in the EU single market for financial services. Investment firms may serve Finnish residents through a Finnish licence or an EEA cross-border passport. The Finnish Financial Supervisory Authority (FIN-FSA) supervises Finnish financial-market participants, while the Finnish Tax Administration (Vero) administers personal investment taxation.

Calculate Your Investment Taxes

Before selling an investment, estimate the possible tax result with the Finland Capital Gains Tax Calculator.

The calculator is an educational planning tool. The taxable result on a Finnish return depends on the investor’s complete facts, including acquisition costs, fees, losses, account type and other capital income.

Available Brokers for Finland Residents

Finnish residents can choose from international investment brokers, domestic platforms, traditional bank brokers and providers specialising in leveraged products.

International Investment Brokers

Broker	General availability	Stocks	ETFs	Fractional shares	Main point to verify
Interactive Brokers	Generally available	Yes	Yes	Yes, for eligible securities	Market permissions and tax reporting
DEGIRO	Generally available	Yes	Yes	No	Current Finnish fee schedule
Trading 212	Generally available	Yes	Yes	Yes	Invest account versus CFD account
Trade Republic	Generally available	Yes	Yes	Yes, for eligible savings products	Finnish product and account availability
XTB	Generally available	Product-dependent	Product-dependent	Product-dependent	Underlying securities versus CFDs
eToro	Generally available	Product-dependent	Product-dependent	Yes, for eligible instruments	Ownership versus CFD exposure
Saxo	Generally available	Yes	Yes	Limited	Contracting entity and custody fees
Swissquote	Generally available	Yes	Yes	Limited	Entity, pricing and minimum trade costs
Freedom24	Generally available	Yes	Yes	Limited	Product documentation and fees
LYNX	Verify before applying	Yes where onboarded	Yes where onboarded	Limited	Current acceptance of Finnish residents

“Generally available” is not a guarantee that every applicant will be accepted. Residence, citizenship, tax status, sanctions screening and the provider’s risk policy can affect onboarding.

Interactive Brokers

Interactive Brokers provides access to numerous international exchanges, shares, bonds and UCITS ETFs. Fractional trading is available for eligible instruments. Finnish users should check which group entity will hold the account and should not assume that all transactions will be pre-filled on the Finnish tax return.

DEGIRO

DEGIRO provides share and ETF trading on a range of European and international exchanges. Investors should compare exchange-connectivity, currency-conversion, custody and product costs rather than relying only on headline commissions.

Trading 212

Trading 212 offers an Invest service for eligible underlying shares and ETFs and a separate CFD service. The two account types are materially different. An investor should verify the label and legal nature of the instrument before placing an order.

Trade Republic

Trade Republic offers app-based investing and savings-plan features in supported markets. The precise universe of securities and local services may differ by residence, so Finnish availability should be confirmed during onboarding.

XTB

XTB’s product range depends on the client’s jurisdiction and entity. A product described by reference to a share or ETF may be an underlying security or a CFD. Finnish residents should verify the instrument’s legal form in the order ticket and key documents.

eToro

eToro provides both securities exposure and CFDs. Whether a position represents the underlying asset can depend on the instrument, leverage, direction and applicable entity. That distinction affects ownership, risk and Finnish tax treatment.

Saxo

Saxo provides multi-market access to shares, ETFs, bonds and other instruments. Finnish investors can also encounter Saxo technology through Mandatum Trader. Account structure, contracting entity and pricing should be checked directly.

Swissquote

Swissquote offers international securities trading through regulated group entities. Investors should verify the entity serving Finland, custody arrangements, currency costs and investor-protection scheme.

Freedom24

Freedom24 offers access to international shares and ETFs. Prospective users should review the current service terms, execution venues, custody model and full fee schedule.

LYNX

LYNX provides access to international markets in supported European countries. Because country onboarding policies can change, Finnish residents should obtain confirmation of acceptance before relying on the service.

Foreign brokers may provide statements without ensuring that every transaction is correctly included in Finland’s pre-completed return. Vero instructs investors to review the return and add missing sales, distributions and foreign income. See Vero’s investment reporting guidance.

Domestic Investment Platforms

Provider	Type	Typical offering	Main point to verify
Nordnet Finland	Nordic digital investment platform	Shares, ETFs, funds, savings plans and eligible account types	Fees by exchange and account
OP Financial Group	Finnish banking-group broker	Finnish and international shares, funds and ETFs	Customer-tier pricing and custody
Nordea Finland	Bank broker	Shares, funds, ETFs and custody	Market coverage and service fees
Danske Bank Finland	Bank broker	Securities and fund investing	Product range and pricing
Mandatum Trader	Investment platform offered as Saxo tied-agent service	Multi-market securities and trading tools	Contractual relationship with Saxo

Nordnet Finland

Nordnet is a widely used Nordic investment platform offering ordinary securities accounts, funds, ETFs, monthly savings features and Finnish account options. Product availability and charges vary by exchange and instrument.

OP Financial Group

OP combines banking, custody and investing services. Its brokerage offering can be convenient for clients who want investments and everyday banking in one relationship, although pricing should be compared with specialist brokers.

Nordea Finland

Nordea provides brokerage, custody, funds and other investment products through its Finnish banking service. Available exchanges and charges depend on the selected service and customer arrangement.

Danske Bank Finland

Danske Bank offers investing services to Finnish customers, including securities and funds. Investors should verify current online brokerage features and the costs applicable to their client tier.

Mandatum Trader

Mandatum Trader remains available through Mandatum Services, which acts as a tied agent of Saxo Bank and uses Saxo’s technology. Mandatum stated in March 2026 that its disposal of its Saxo shareholding did not change the Trader service or client relationship. The structure is explained in Mandatum’s announcement and service terms.

Traditional Bank Brokers

Bank or banking group	Brokerage model	Typical investment access	Main point to verify
OP Financial Group	Brokerage integrated with OP banking	Finnish and international shares, ETFs and funds	Customer-level fees and custody costs
Nordea Finland	Brokerage and custody within online banking	Shares, ETFs, funds and savings products	Exchange coverage and pricing tier
Danske Bank Finland	Bank brokerage and investment services	Shares, funds and selected exchange-traded products	Online-trading availability and fees
Aktia	Bank-based investment and savings service	Funds and selected securities services	Whether direct brokerage meets the investor’s needs

Traditional bank brokers can simplify cash transfers, custody and domestic tax information, but convenience does not necessarily mean lower total cost. Compare order fees, custody charges, currency conversion, fund expenses and access to foreign exchanges.

CFD and Forex Brokers

Provider	General availability	Main point to verify
XTB	Generally available	CFDs versus underlying securities
IG	Generally available	Primarily leveraged products
CMC Markets	Generally available	CFD-focused service
Plus500	Generally available	CFD-focused service
Pepperstone	Generally available	Forex and CFD focus
AvaTrade	Generally available	Forex and CFD focus
Admirals	Generally available	Products depend on entity
FP Markets	Verify onboarding	Entity and cross-border permission
Trading.com	Verify onboarding	EEA entity, Finnish onboarding and product scope
eToro	Generally available	CFD versus underlying exposure

CFDs are leveraged derivatives, not ownership of the referenced share or ETF. EU retail protections include leverage limits, margin close-out, negative-balance protection and standardised risk warnings, but losses can still occur rapidly.

Finland’s Important CFD Tax Asymmetry

Finland’s tax treatment makes CFDs particularly unfavourable when transactions produce mixed results. According to Vero’s CFD guidance, the profit from each profitable CFD transaction is taxable capital income, while a loss from a loss-making CFD transaction is not deductible—not even against profits from other CFD transactions.

For example, €10,000 of taxable profits and €9,000 of CFD losses do not ordinarily create a taxable net gain of €1,000. The €10,000 profit remains taxable while the €9,000 loss is non-deductible. This differs substantially from ordinary securities-loss treatment and should be understood before trading.

ETF Investing from Finland

Which ETFs Are Available?

Finnish residents generally have access to:

Ireland-domiciled UCITS ETFs;
Luxembourg-domiciled UCITS ETFs;
global, regional and country equity ETFs;
bond and money-market ETFs;
sector and thematic ETFs;
distributing and accumulating share classes; and
other exchange-traded products permitted by the broker.

UCITS status does not make an investment risk-free. Investors should still review the index methodology, total expense ratio, replication method, securities-lending policy, currency exposure, domicile, fund size and bid–ask spread.

Can Finnish Residents Buy US-Domiciled ETFs?

Most Finnish retail investors cannot purchase most US-domiciled ETFs through an EU-regulated broker. The EU PRIIPs Regulation generally requires a Key Information Document before a packaged retail product is made available to an EEA retail investor. Many US ETF issuers do not produce a PRIIPs-compliant KID.

The restriction concerns retail distribution, not the nationality of the index. Finnish investors can commonly buy UCITS ETFs tracking the S&P 500, MSCI World or other US and global indices. Different access may apply to clients formally classified as professional investors, but the regulatory test is demanding and is not designed as a routine workaround.

Examples of Broadly Available UCITS ETFs

ETF	ISIN	Exposure
Vanguard FTSE All-World UCITS ETF	IE00BK5BQT80	Global developed and emerging markets
iShares Core MSCI World UCITS ETF	IE00B4L5Y983	Developed markets
iShares Core S&P 500 UCITS ETF	IE00B5BMR087	Large US companies
iShares Core MSCI EM IMI UCITS ETF	IE00BKM4GZ66	Emerging markets
iShares Core MSCI Europe UCITS ETF	IE00B4K48X80	European equities

These are examples, not recommendations or a verified nationwide popularity ranking. Availability depends on the broker, exchange, trading currency and precise share class. Check the ISIN rather than relying only on a similar fund name or ticker.

Tax Treatment of ETFs

Accumulating ETFs

An accumulating ETF retains and reinvests fund income rather than paying it to the investor. A Finnish individual is generally not taxed merely because income is reinvested within the fund; taxation ordinarily arises when ETF units are sold or otherwise disposed of at a gain.

Distributing ETFs

Cash distributions from an ETF or UCITS fund received by a Finnish-resident individual are taxable capital income when paid. Importantly, Vero states that this income is treated as capital income rather than dividend income, regardless of whether the collective-investment vehicle has a corporate or contractual legal form. See Vero’s 2026 annual-return instructions for dividends.

Therefore, the 85%-taxable and 15%-exempt rule for qualifying listed-company dividends should not automatically be applied to ETF distributions.

Selling ETF Units

A realised gain on ETF units is normally capital income. Acquisition price and eligible costs are generally deducted, subject to the alternative deemed-acquisition-cost method discussed below. Losses on ordinary ETF disposals generally follow the rules for capital losses, unlike non-deductible CFD losses.

Opening an Investment Account

1. Choose the Account and Broker

Compare market access, total fees, tax reporting, custody, currency conversion, customer support and the applicable protection scheme. Decide whether an ordinary securities account or an OST is appropriate; the OST cannot hold ETFs or fund units.

2. Prepare Identification and Tax Details

A broker will commonly request a passport or national identity card, residential address, Finnish personal identity code where applicable, tax residence and tax identification number. Source-of-funds information may also be required.

3. Complete Suitability and Appropriateness Checks

For complex products, the broker may assess the applicant’s knowledge and experience. Identity verification is often electronic, but processing time varies.

4. Fund the Account

SEPA bank transfer is a common funding method. Confirm whether card deposits or third-party transfers are accepted and whether the receiving account is held in the investor’s name.

5. Check the Instrument Before Ordering

Confirm the ISIN, exchange, currency, order type, product costs and whether the position is an underlying security or a derivative. Similar names can refer to different share classes.

Tax Implications for Investors

Capital-Income Tax Rates

For 2026, Finnish taxable capital income is taxed at:

30% up to €30,000; and
34% on the portion exceeding €30,000.

These are capital-income brackets, not separate rates based solely on the value of one sale. The official rates appear in Vero’s 2026 tax bases.

The €1,000 Small-Disposal Rule

Gains may be exempt if the combined selling prices of assets covered by the rule do not exceed €1,000 during the calendar year. This is a gross disposal-proceeds threshold, not a €1,000 profit allowance. Transactions covered by the statutory calculation must be aggregated.

The related small-loss rule is separate: a loss is not deductible where both the year’s relevant total selling prices and total acquisition costs do not exceed the applicable €1,000 limits. Vero explains these conditions in its guidance on selling shares.

FIFO and Acquisition Costs

Finland generally uses first-in, first-out (FIFO): the oldest units are treated as sold first. Vero notes that FIFO is applied separately by securities account, so records should identify the account through which each holding was acquired and sold.

The normal gain calculation deducts the actual acquisition cost and eligible selling expenses from proceeds.

Deemed Acquisition Cost

Instead of actual acquisition cost and expenses, an individual may be able to use a deemed acquisition cost equal to:

20% of the selling price where the asset was held for less than 10 years; or
40% where it was held for at least 10 years.

The investor uses either actual costs or the deemed amount, not both. The method can be useful where records are old or appreciation is substantial, but the numerical result should be compared. It is not available for calculating withdrawals from an OST.

Capital Losses

Deductible losses from ordinary securities are generally set against capital gains and other capital income under the applicable rules. Unused deductible losses are carried forward for the following five years, not ten years. Vero’s share-sale guidance describes the carry-forward period.

This treatment must not be confused with CFDs, for which Vero expressly denies loss deductions.

Listed-Company Dividends

For a qualifying dividend paid directly to an individual by a listed company outside an OST, generally:

85% is taxable capital income; and
15% is tax-exempt.

At a 30% capital-income rate, this corresponds to an effective tax of 25.5% before considering the investor’s wider circumstances. Vero explains the treatment of dividends from listed companies and the conditions for comparable foreign listed-company dividends in its foreign-dividend guidance.

Different rules apply to unlisted-company dividends, non-qualifying foreign dividends and ETF/fund distributions.

Foreign Withholding Tax

A foreign country may withhold tax from a dividend before it reaches the account. Finnish relief depends on domestic law, the relevant tax treaty, the nature of the income and evidence of tax paid. Excess foreign withholding is not necessarily corrected automatically by the Finnish return and may require a reclaim from the source country.

Reporting Investments Held with Foreign Brokers

The investor must review the pre-completed tax return even where a bank or broker reports information. Missing foreign dividends, ETF distributions, sales and gains must be added. Vero’s reporting page identifies relevant routes, including Form 9A for securities gains and losses and Form 16B for foreign capital income. Supporting records generally need to be retained for six years.

Equity Savings Account (Osakesäästötili)

The OST is a tax-deferral account for eligible listed shares. It is not a general ETF account and it is not tax-free.

Key rules include:

only money is contributed to the account;
total cash contributions are capped at €100,000;
an individual may have only one OST at a time;
eligible listed shares may be bought and sold within the account without immediate tax on each sale;
ETFs and mutual-fund units cannot be held in the OST;
tax generally arises when money is withdrawn, with each withdrawal divided proportionally between contributed capital and taxable return;
a loss is generally recognised only when the OST is closed; and
the listed-dividend 15% exemption and deemed acquisition cost are not available inside the OST.

Vero’s Equity Savings Account guidance explains the contribution limit, withdrawal calculation, one-account rule and tax consequences. Opening multiple OSTs can trigger a €10-per-day additional tax for each extra account.

The OST can benefit an investor who intends to reinvest share gains and dividends, but it is not automatically better than an ordinary account. The lack of the partial dividend exemption, delayed loss recognition, investment restrictions and withdrawal formula should all be considered.

For a broader overview, see the Finland Tax Guide.

Regulation and Investor Protection

Financial Supervision

FIN-FSA supervises Finnish banks, investment firms, fund managers and securities markets. A broker based elsewhere in the EEA is normally supervised primarily by its home-country authority while operating cross-border under EU rules. Investors can consult FIN-FSA and the home regulator’s register to verify the legal entity and permissions.

Investor Compensation

The Finnish Investor Compensation Fund is intended for situations in which a covered investment-service provider cannot return client assets. Under Finland’s Investment Services Act, compensation is generally 90% of the eligible claim, up to €20,000.

Investor compensation does not cover market losses, poor investment performance or a fall in a security’s price. A foreign EEA broker may belong to its home-country scheme rather than Finland’s, so the account’s contracting entity matters.

Deposit Guarantee

Eligible bank deposits are generally protected up to €100,000 per depositor per bank under Finland’s deposit-guarantee framework. This protection concerns eligible deposits, not the market value of shares, ETFs or other investments. Client money at a broker can be subject to different safeguarding and compensation arrangements.

Asset Segregation

Regulated firms are generally required to safeguard and distinguish client assets from their own assets. Segregation reduces custody risk but does not eliminate operational, legal or fraud risk and does not protect against investment losses.

Is Finland a Good Base for Investors?

Finland can be attractive to investors who value institutional stability, extensive access to UCITS products, domestic digital services and clear tax-administration guidance.

Advantages

broad access to Finnish, European and international markets;
strong financial regulation and consumer-protection framework;
domestic banks and specialist online platforms;
an OST that allows tax deferral for eligible listed shares;
extensive Vero guidance and a pre-completed-return system; and
straightforward access to SEPA funding and euro-denominated products.

Disadvantages

capital-income rates of 30% and 34%;
no general exemption merely because an investment was held long term;
manual checking and reporting can be required with foreign brokers;
the OST excludes ETFs and fund units;
most US-domiciled ETFs are unavailable to retail clients under PRIIPs distribution rules; and
CFD profits are taxable while CFD losses are non-deductible.

Suitable Investor Types

Finland may suit long-term share and UCITS ETF investors, passive investors, residents who prefer a domestic bank or Nordic platform, and investors who prioritise regulatory clarity. It may be less appealing to people seeking a low-tax jurisdiction or frequent CFD traders.

Compare Finland With Other Countries

Use the EU Cost of Living Comparison to compare household costs, or explore the European Relocation Calculator for a wider location comparison.

Conclusion

Finland gives residents access to a broad selection of domestic and international brokers and UCITS ETFs within a strong EU regulatory framework. The main practical burden is taxation: foreign-broker information must be checked carefully, the 30% and 34% capital-income rates apply across the investor’s taxable capital income, and different products can receive very different treatment.

The most important distinctions are between ordinary securities accounts and the OST, listed-company dividends and ETF distributions, and ordinary investment losses and CFD losses. Understanding those distinctions before choosing an account or product can prevent expensive reporting and tax mistakes.

Related Finland Guides and Calculators

Finland Guides

Finland Calculators

European Tools

Disclaimer

This guide is for general educational information only and is not investment, tax, legal or financial advice. Tax treatment depends on individual circumstances, the legal nature of the instrument, residence, account structure and applicable treaty. Broker availability, products, fees and regulatory arrangements can change. Verify current information with the provider, FIN-FSA, Vero or a qualified adviser before acting.

Iva Buće

Iva Buće is a Master of Economics specializing in digital marketing and logistics. She combines analytical thinking with creativity to make financial and investment topics accessible to a broader audience. At Finorum, she focuses on translating complex economic concepts into clear, practical insights for everyday readers and investors.