Investment Options

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sw_star
Posts: 16
Joined: Wed Apr 13, 2022 10:38 am

Investment Options

Post by sw_star » Sun Dec 25, 2022 10:50 pm

Hello Everyone,

Christmas Wishes to you and your family!

As an immigrant, I am looking for some reliable options/websites/Apps to invest funds in stocks, mutual funds,ETFs, equity, etc in Finland.
I am also a beginner in investment and haven't invested before. So, would you suggest me some reliable options to start with(for a beginner)?

Thanks in advance!



Investment Options

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network_engineer
Posts: 858
Joined: Wed Nov 26, 2003 10:21 am

Re: Investment Options

Post by network_engineer » Mon Dec 26, 2022 6:45 pm

About a decade ago, I tried, was put off by the charges regarding investments here in Finland.

This is how I recall and understand: I.e. bear in mind, most of these companies operating here, want money for doing nothing. In other words, in addition to the capital gain taxes, there is also the monthly service fees, the breakfast poo fees, the lunch crap fees, and all the other rubbish fees here.

If you are a small investor, leaves you with nothing almost very little in terms of return with the risk.

Others have invested in real-estate ... which seems to be the best of the worst option at the moment. However, even with that ... it is a disaster (personal opinion).

Friend of mine bought an investment apartment, 220.000, then had a pipe repair and stuff amounting to 70.000e. The value of the apartment remains about 235.000 in that area. Monthly loan, apartment maintenance, loan charges, etc. amount to nothing. His saving grace is that IF the value of the apartment climbs, it may be worth in 25 years or so.

Somebody recently recommended Nordnet, maybe? I haven't tried it out yet, but maybe better? Do post on your experiences, maybe I might join!

praajhen
Posts: 14
Joined: Mon Jul 13, 2015 12:41 pm

Re: Investment Options

Post by praajhen » Tue Dec 27, 2022 7:22 am

Merry Christmas! Starting point would be, get appointment in any banks in Finland to discuss about investings. For example, in Nordea, they will show all the possible options. Then, assess yourself how much your understood about the stock market process in finland. If it sounds good then go ahead start with something small. Happy new year :D

woodconnect
Posts: 34
Joined: Mon Apr 09, 2012 8:56 pm
Location: Helsinki

Re: Investment Options

Post by woodconnect » Tue Dec 27, 2022 12:52 pm

Hi
This is my my experience. (Autumn) I made an appointment with Danske bank for advice on investing in shares. They recommend that it was not a good time for stocks. It is possible to sign into their trading account and trade on my own. That trading account has a monthly fee.

They also advised with interest rates rising, they now have time deposits. So it is possible to get some small interest on your savings. But of course-30% tax and high inflation...not much left. But better nothing.

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Ligence
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Location: Finland

Re: Investment Options

Post by Ligence » Wed Dec 28, 2022 5:09 pm

I've used Nordnet since 2015 and have been happy with it, though I'm no investment guru and my strategy is basically "dump money into low-expense growth ETFs for year after year". Seligson is another popular choice.

Most banks with daily banking services do have similar instruments available, but the expenses are usually higher.

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network_engineer
Posts: 858
Joined: Wed Nov 26, 2003 10:21 am

Re: Investment Options

Post by network_engineer » Thu Dec 29, 2022 12:49 am

Ligence wrote:
Wed Dec 28, 2022 5:09 pm
I've used Nordnet since 2015 and have been happy with it...
Are there any costs with it? Monthly? Or a percentage of profits? Or?

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Ligence
Posts: 53
Joined: Sun May 25, 2014 9:54 pm
Location: Finland

Re: Investment Options

Post by Ligence » Thu Dec 29, 2022 6:17 pm

network_engineer wrote:
Thu Dec 29, 2022 12:49 am
Are there any costs with it? Monthly? Or a percentage of profits? Or?
Pricing (in Finnish): https://www.nordnet.fi/fi/palvelut/hinnasto

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agroot
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Re: Investment Options

Post by agroot » Fri Dec 30, 2022 9:18 pm

banks offer them, plus saving option to put some amount every month without transfer fee.

I used Interactive Brokers which provides much more choices and good for moving around (branches all over the world + internal transfers), but it's a pain in the ass to file tax and took months for vero to check dozens of reports and my own spreadsheet that I spent hours to make. I suspect if you use anything but Finnish banks you'd have the same headache because they can't send anything directly to Finnish gov.

Also there is something in Finland called Equity Saving Account, mentioned here a while ago. However, personally I'd only invest in UCITS (repackaged ETFs in EU) and mutual funds.

sw_star
Posts: 16
Joined: Wed Apr 13, 2022 10:38 am

Re: Investment Options

Post by sw_star » Mon Jan 02, 2023 12:19 am

praajhen wrote:
Tue Dec 27, 2022 7:22 am
Merry Christmas! Starting point would be, get appointment in any banks in Finland to discuss about investings. For example, in Nordea, they will show all the possible options. Then, assess yourself how much your understood about the stock market process in finland. If it sounds good then go ahead start with something small. Happy new year :D
This looks good, I watched a video in YouTube about NordNet , the T&C pages are all in Finnish . I don’t want to sign the form without understanding it well.

sw_star
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Joined: Wed Apr 13, 2022 10:38 am

Re: Investment Options

Post by sw_star » Mon Jan 02, 2023 12:20 am

agroot wrote:
Fri Dec 30, 2022 9:18 pm
banks offer them, plus saving option to put some amount every month without transfer fee.

I used Interactive Brokers which provides much more choices and good for moving around (branches all over the world + internal transfers), but it's a pain in the ass to file tax and took months for vero to check dozens of reports and my own spreadsheet that I spent hours to make. I suspect if you use anything but Finnish banks you'd have the same headache because they can't send anything directly to Finnish gov.

Also there is something in Finland called Equity Saving Account, mentioned here a while ago. However, personally I'd only invest in UCITS (repackaged ETFs in EU) and mutual funds.
Can you give me more information about the brokers you took help from?

sw_star
Posts: 16
Joined: Wed Apr 13, 2022 10:38 am

Re: Investment Options

Post by sw_star » Mon Jan 02, 2023 12:23 am

Ligence wrote:
Wed Dec 28, 2022 5:09 pm
I've used Nordnet since 2015 and have been happy with it, though I'm no investment guru and my :strategy is basically "dump money into low-expense growth ETFs for year after year". Seligson is another popular choice.

Most banks with daily banking services do have similar instruments available, but the expenses are usually higher.
Would you recommend NordNet? I watched a Tutorial in YouTube about opening an account in NordNet but the documentation of Terms & Condition are in Finish , lot of pain to translate :(

Did you get satisfactory return from your previous investments in NordNet?

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agroot
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Re: Investment Options

Post by agroot » Mon Jan 02, 2023 10:43 am

sw_star wrote:
Mon Jan 02, 2023 12:23 am
Did you get satisfactory return from your previous investments in NordNet?
A bank or a broker offers access to many funds and stocks. It's the end products you choose that will decide your returns, not the medium. There are differences in fees, transaction time, selections of funds and stocks, etc. I'm only comfortable using NordNet for regular saving while riskier investment will still be done with broker like IB.

A brokerage account offers many functions such as buying at a limit price or auto-selling below a certain price to stop loss - you control exactly how a transaction is done, and some big brokers like IB allow you to buy stocks listed in Singapore or India for example, that aren't available from most banks. Also all US brokerage accounts are covered by big insurances if the broker bankrupts (not sure about Europe).


IB is the broker I'd recommend for wide access to stocks all over the world: https://www.interactivebrokers.ie/ (Irish branch for Finnish residents) Note its transaction fees and cash transfers are not cheap, as they used to target much bigger customers, even requiring minimal deposit and monthly fee until a few years ago.


PS: you could ask Nordea customer service to turn on NordNet for you. First you need to have a bank account at Nordea.

sw_star
Posts: 16
Joined: Wed Apr 13, 2022 10:38 am

Re: Investment Options

Post by sw_star » Mon Jan 02, 2023 1:07 pm

agroot wrote:
Mon Jan 02, 2023 10:43 am
sw_star wrote:
Mon Jan 02, 2023 12:23 am
Did you get satisfactory return from your previous investments in NordNet?
A bank or a broker offers access to many funds and stocks. It's the end products you choose that will decide your returns, not the medium. There are differences in fees, transaction time, selections of funds and stocks, etc. I'm only comfortable using NordNet for regular saving while riskier investment will still be done with broker like IB.

A brokerage account offers many functions such as buying at a limit price or auto-selling below a certain price to stop loss - you control exactly how a transaction is done, and some big brokers like IB allow you to buy stocks listed in Singapore or India for example, that aren't available from most banks. Also all US brokerage accounts are covered by big insurances if the broker bankrupts (not sure about Europe).


IB is the broker I'd recommend for wide access to stocks all over the world: https://www.interactivebrokers.ie/ (Irish branch for Finnish residents) Note its transaction fees and cash transfers are not cheap, as they used to target much bigger customers, even requiring minimal deposit and monthly fee until a few years ago.


PS: you could ask Nordea customer service to turn on NordNet for you. First you need to have a bank account at Nordea.
I don't have a bank account in Nordea but in S-Pankki. I went to customer support in S-Pankki for asking them about the investment options but they just showed me options as there in the website,which I had already checked out. What do you think about investment options in S-Pankki?

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agroot
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Joined: Sat Dec 22, 2018 5:04 pm

Re: Investment Options

Post by agroot » Tue Feb 07, 2023 12:12 am

sw_star wrote:
Mon Jan 02, 2023 1:07 pm
I don't have a bank account in Nordea but in S-Pankki. I went to customer support in S-Pankki for asking them about the investment options but they just showed me options as there in the website,which I had already checked out. What do you think about investment options in S-Pankki?
No idea about S-bank.

betelgeuse
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Joined: Thu Aug 29, 2013 1:24 am

Re: Investment Options

Post by betelgeuse » Tue Feb 07, 2023 11:22 am

agroot wrote:
Fri Dec 30, 2022 9:18 pm
I suspect if you use anything but Finnish banks you'd have the same headache because they can't send anything directly to Finnish gov.
They could but presumably don’t want to take on the administrative burden.


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