A reader asked us: Which brokers can I use in the UK to buy Danish shares, specifically Vestas?
The answer to this ought to be straight forward but it’s not quite that simple.
The Danish stock market is relatively small on a global scale despite having several world leading companies listed there. Which means that most stock brokers don’t specifically offer dealing in Danish stocks.
Here is a comparison of the stock brokers who do offer shares in companies listed on the Danish stock market and shares in companies from Denmark and their fees for purchases.
|Broker||Fees for buying Danish shares|
|IG||0.10% with a €10.00 minimum ticket|
|Hargreaves Lansdown||£11.95 +1.00% FX fee|
|Saxo Markets||0.10% and a minimum Ticket of 65.00 DKK|
|Freetrade||Don’t offer Danish shares|
|Interactive Investor||From Free with trade credit account or £9.99 per month|
|Interactive Brokers||0.10% with €1.25 minimum charge|
As you would expect Saxo Markets, which is itself a Danish business, offers a comprehensive Danish share dealing service. However, others such as IG do not, I have included IG in the table though, because they do offer trading in some Danish shares that are listed in Germany and Vestas Wind Systems is among them.
Hargreaves Landsdown on the other had do offer direct access to Danish listed shares for a sterling based flat dealing charge of £11.95 per trade. However, they will also levy an FX conversion fee on top, and there will be an annual custody charge for holding the stock on your behalf, though other providers will also charge a management fee.
FreeTrade does not currently offer any European share trading.
US owned Interactive Brokers UK has no Danish coverage but as with IG they do offer access to Danish shares that are dual listed in Germany.
UK based Interactive Investor is another broker that offers trading in Vestas Wind Systems but once again only through its German listing. Note though that if you do trade in the German listed line, through them or any other broker, you will be dealing in Euros and not Danish Krone.
One alternative to consider if you are looking for exposure to a range of Danish stocks is an ETF or other fund that specifically invests in the country. One such ETF is the iShares MSCI Denmark ETF (Ticker Eden ) managed by BlackRock.
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Darren is a veteran of the financial markets with almost 36 years of experience under his belt. He has worked in trading, sales, analytical, and research roles, he has been a regular guest & commentator on financial television channels and publications. During his career, Darren has been fortunate to act for and advise major hedge funds and investment banks as well as HNWI. Darren analyses the markets using a blend of technical and fundamental analysis