Avanza, Nordnet or Montrose—Price Is Only Half the Comparison

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Which online broker is best: Avanza, Nordnet or Montrose? The answer depends less on who has the slickest advertising and more on what you actually want to do. A long-term fund investor and someone trading OMX certificates do not necessarily need the same service.

I have compared selection, fees and ease of use. And I found a practical detail that easily disappears in comparisons: whether you can place your own stop-loss order on certificates.

Selection: more markets are not the whole answer

Here, markets means the countries and exchanges where you can trade digitally. Avanza states 15 markets, while Montrose states 18. Nordnet also has a broad international offering. But the number of countries does not tell you how many companies or products are actually available to buy.

For ordinary Swedish and US shares, the difference is often less important. If you are looking for a particular foreign company, fund or certificate, you should search for that specific security. Avanza has more than 1,400 funds and a large range of exchange-traded products. Nordnet also offers a broad product range, including options and futures.

Fees: Montrose wins on many small trades

Avanza and Nordnet have broadly the same standard brokerage fees on Nasdaq Stockholm. Montrose Access charges 0.15 per cent, with a minimum of SEK 1 and a maximum of SEK 99 in the Nordic region. Access has no capital threshold or monthly fee.

Share trade	Avanza	Nordnet	Montrose Access
SEK 5,000	SEK 12.50	SEK 12.50	SEK 7.50
SEK 10,000	SEK 25	SEK 25	SEK 15
SEK 25,000	SEK 39	SEK 39	SEK 37.50
SEK 50,000	SEK 69	SEK 69	SEK 75
SEK 100,000	SEK 69	SEK 69	SEK 99

Brokerage per purchase or sale on Nasdaq Stockholm. For Avanza and Nordnet, the cheapest standard brokerage tier for the amount is assumed. Campaigns and special agreements are not included.

If you buy and sell SEK 10,000 each way, total brokerage costs SEK 50 at Avanza or Nordnet and SEK 30 at Montrose. Twenty kronor sounds insignificant, but one hundred such trades produce a SEK 2,000 difference. For larger orders, however, Avanza and Nordnet may be cheaper.

Currency conversion also matters: automatic conversion normally costs 0.25 per cent at Avanza and Nordnet, compared with 0.12 per cent in Montrose Access. The fee is charged on both purchases and sales. Currency accounts and special customer terms can change the comparison.

Montrose rebates fund commissions and instead charges an annual platform fee, normally 0.10 per cent, or 0.05 per cent for funds with a management fee of no more than 0.20 per cent. You should therefore compare the same fund’s final fee, not just the platform’s advertising.

Ease of use: simplicity also has value

My assessment is that Avanza is a strong all-round choice for anyone who wants a clear overview and smooth everyday use. Nordnet offers, among other things, social investing features and the option of using Infront for real-time data and advanced trading. Montrose’s simple pricing model means you do not need to switch brokerage tiers for different order sizes.

That does not mean Nordnet is automatically better for analysis. Avanza also provides report data, key figures and TradingView charts. Ease of use is also personal: how easily you find what you need and place an order matters more than the number of features in a brochure.

I have considerably more experience with Avanza myself and like many things about it. That naturally colours my assessment. At the same time, Montrose appears to offer a broader range of foreign markets and appealing analysis tools. If they meet my needs, they might make Börsdata redundant for me. That makes Montrose interesting beyond its lower fees.

Stop-loss for certificates: this is where they differ

Avanza offers stop-loss orders for selected exchange-traded products. For some instruments, the trigger can be compared with the liquidity provider’s bid or ask price rather than the latest transaction. This matters for certificates that are continuously priced but traded less frequently. Check which choices your particular product offers.

Nordnet does not offer stop-loss orders for Bull/Bear certificates and Mini Futures, according to its help page. Its stop-loss function relies on actual transactions, which may be too few for the function to work reliably in these products.

Montrose has launched stop-loss orders using market orders, but I have not been able to verify support for certificates. A broker offering stop-loss orders for shares does not mean the function works for every other security.

A stop-loss does not guarantee execution at the desired price. A limit order may remain unfilled during a rapid fall; a market order may produce a worse price than expected. The product’s built-in knockout level is also different from your own sell order.

My choice: start with how you trade

For long-term saving and ordinary share trading, Avanza is a strong all-round choice. Nordnet is interesting for those who want its social features or particular trading tools. Montrose is a clear price challenger for smaller trades and international trading.

For certificate trading with your own automatic stop-loss, Avanza is the most clearly documented option of the three. A practical feature can outweigh a few kronor in brokerage fees.

The comparison is based on public terms checked in October 2026. Prices and features may change. The share examples above should not be used as a price list for certificates, where product and campaign terms may differ.