Nord Investments granted stockbroking license by the Danish FSA

After an application process of 1.5 years, Copenhagen Fintech member, NORD Investments, has been granted a stockbroking license by the Danish Financial Supervisory Authority (FSA).?

Before NORD was established in 2015, the most accessible way for individuals?to invest was by paying high fees to investment funds and bank advisers for their help. Instead of having expensive advisers and large branches, NORD has a simple self-service platform with the right tools, where most things are done automatically to keep administrative tasks for their experts kept to a minimum. All investment plans are composed of carefully selected ETFs, meaning when you invest through NORD, it is therefore not in individual shares or bonds but instead in several funds that spread your risk and follow the market closely. ?

With the newly acquired license, NORD will be able to move into other European markets:?

- We are incredibly happy that we have received the license after a long application process. It is our launch pad - both to launch our solution in other European markets and to continue our growth journey. It is a distinguished status that we have now achieved in the financial sector, and I am very proud of that - says the CEO Anders Hartmann - with a stockbroker's license, we can make use of the EU's so-called passporting rules and thus avoid having to apply for a new license when we expand in the European market.?

Before expansions into the rest of Europe begin, the platform will use the license to build a ‘bank-like infrastructure’. This means that the company can manage customers’ funds themselves, a task which was previously handled by partner Saxo Bank. The license also gives NORD the opportunity to rebalance clients' portfolios on an ongoing basis without having to obtain acceptance from the client.?

- Today we need to ask and have the acceptance of all our customers to rebalance. It works really well, and we also think that many customers would like to continue with it. But at the same time, we can make the experience even better for the customers who want to let us take care of everything, states the CEO.?

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