| Updated: August 26, 2024As crypto regulations continue to evolve across Europe, an increasing number of crypto brokers and exchanges have begun offering their services to local blockchain enthusiasts. Sweden is no exception, but since picking a platform is easier said than done, our team of experts set out to prepare a list of the top brokers and exchanges that are suitable for Swedish cryptocurrency aficionados.
Fusion Markets74-89% of retail CFD accounts lose money
FP Markets73.85% of retail investor accounts lose money
AvaTrade76% of retail investor accounts lose money
Eightcap76.09% of retail investor accounts lose money
eToro51% of retail investor accounts lose money
Plus50080% of retail investor accounts lose money
Oanda72% of retail CFD accounts lose money
Saxo Bank65% of retail investor accounts lose money
XTB80% of retail investor accounts lose money
Tickmill70% of retail investor accounts lose moneyTop 10 Crypto Brokers in Sweden Ranked by Trustpilot Score
| Forex Broker | Trustpilot Reviews | |
|---|---|---|
| 1. Fusion Markets | 1,662 | 4.9 ⭐ |
| 2. FP Markets | 6,706 | 4.8 ⭐ |
| 3. AvaTrade | 8,718 | 4.5 ⭐ |
| 4. Eightcap | 2,460 | 4.2 ⭐ |
| 5. eToro | 24,180 | 4.2 ⭐ |
| 6. Plus500 | 13,613 | 4.1 ⭐ |
| 7. Oanda | 791 | 4.1 ⭐ |
| 8. Saxo Bank | 5596 | 3.7 ⭐ |
| 9. XTB | 1,168 | 3.6 ⭐ |
| 10. Tickmill | 541 | 3.0 ⭐ |
Top 10 Crypto Brokers in Sweden with Low Spreads
| Broker | BTCUSD | ETHUSD | SOLUSD | ADAUSD |
|---|---|---|---|---|
| 1. FP Markets | 1.27 | 2.7 | 0.2 | 0.0031 |
| 2. AvaTrade | 0.10% | 0.15% | 1% | N/A |
| 3. Fusion Markets | 10.63 | 2.59 | 0.143 | 0.0 |
| 4. Eightcap | 12.26 | 2.6 | 0.21 | 0.0051 |
| 5. eToro | 0.75% | 1% buy, 1% sell | 1% | 1% buy; 1% sell |
| 6. Plus500 | 0.30% | 8.1 (0.25%) | 3.21 (1.78%) | 0.00578 (1.39%) |
| 7. Oanda | 62.1 | 5.71 | N/A | 0.0022 |
| 8. Saxo Bank | $287 | $16.4 | N/A | N/A |
| 9. XTB | 0.22% of market price | 0.25% of market price | 0.75% of market price | 0.45% of market price |
| 10. Tickmill | Minimum spread - 12 Typical spread - 24.9 | Minimum spread - 1.01 Typical spread - 2.06 | Minimum spread - 0.15 Typical spread - 0.15 | Minimum spread - 0.007 Typical spread - 0.02 |
Top 10 Crypto Brokers in Sweden
- 1. eToro
Min. Deposit $100 Regulations Regulated by CySEC, the FCA, and the MFSA; Registered with the OAM, the AMF and the Bank of Spain; Listed in the public register of the DNB as a crypto service provider Tradable Coins 100+ Software eToro (proprietary) Crypto Leverage 2:1 Fees Spread plus a fixed fee equal to 1% of the quoted price. Exchange/Wallet eToro Money Crypto Wallet Deposit Methods eToro Money, Credit/Debit Cards, PayPal, Neteller, Skrill, Bank Transfer Withdrawal Methods eToro Money, Credit/Debit Cards, PayPal, Neteller, Skrill, Bank Transfer Established in 2007, eToro was among the first brokers to embrace cryptocurrencies. As such, it now offers a pretty substantial catalogue of crypto CFDs that traders from all across Europe and the world over can trade. This includes major cryptocurrencies like Bitcoin, Litecoin, and Solana, as well as meme coins like Shiba Inu.
The broker has developed its own proprietary platform that has been designed with both veterans and novices in mind, ensuring that each client will have an easy time navigating the software. Its features include a TipRanks search tab, various orders (including stop loss and take profit), a technical analysis tool, and much more.
Of course, crypto traders can also rest assured that eToro is compatible not just with computers but with smartphone devices as well. The mobile application can be found either in Google Play or the App Store, depending on one’s device.
Key Pros
- Excellent range of cryptocurrencies
- Competitive trading software
- Forex and other markets are also available
- eToro Academy has much to offer to those new to crypto trading
- Suitable for both iOS and Android smartphones
Key Cons
- Does not have SEK as a base currency
- Cashout fees ($5)
- Clients who are inactive for a while are charged an inactivity fee
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 51% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. - 2. XTB
Min. Deposit $0 Regulations CySEC, FCA, AMF, FSC Belize, KNF Tradable Coins 40+ Software xStation (proprietary) Crypto Leverage 2:1 Fees BTC/USD – 0.22% of market price, no commission fees on crypto CFDs Exchange/Wallet No Deposit Methods Bank Transfers, Credit Cards, Debit Cards, PayPal, Skrill, Neteller Withdrawal Methods Bank Transfers, Credit Cards, Debit Cards With licences from prominent supervisory entities like CySEC (Cyprus) and the FCA (UK), XTB can easily meet the requirements of crypto enthusiasts who are conscious of whether their broker of choice is well-regulated.
The broker has a range of CFD product categories on offer, and its selection of crypto coins will be suitable for plenty of Swedish crypto devotees. Among them are Bitcoin, Tether, Litecoin, and the like, and these products can be traded with a maximum leverage of 1:2.
While the library of educational articles can seem a bit underwhelming compared to what other brokers have to offer in terms of education, XTB does make up for this by hosting webinars that users can attend on a daily basis.
XTB also looks out for all of its users by providing excellent customer support, which can be accessed via live chat, email, and, in some jurisdictions, phone calls. While the last option is not available to Swedish clients, getting help via live chat is typically a quick and straightforward experience, and the customer support team is always ready to help during weekdays.
Key Pros
- Various cryptocurrencies and other markets
- Excellent trading platform
- Clients do not need to meet a minimum deposit requirement
- Does not attach fees to withdrawals over €100
- Deposit methods include digital wallets, bank transfers, and bank cards
Key Cons
- Inactivity fee
- No phone support for Swedish clients
- 24/5 customer support
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 80% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. - 3. Saxo Bank
Min. Deposit $0 Regulations FSA (Denmark), FINMA, CySEC Tradable Coins Bitcoin, Ethereum Software SaxoTraderGo (proprietary), SaxoInvestor, SaxoTraderPRO Crypto Leverage 2:1 Fees Price (prices are indicative minimum spreads shown as a nominal figure in fiat currency):
BTCUSD – 308 USD (classic), 265 USD (platinum), 201 USD (VIP)
ETHUSD – 17.6 USD (classic), 15.2 USD (platinum), 11.5 USD (VIP)Exchange/Wallet N/A Deposit Methods Bank Transfer, Visa, Mastercard, Quick Payment Withdrawal Methods Bank Transfer Saxo Bank is a Danish entity that was established all the way back in 1992, making it one of the longest-running brokers on our list. The broker offers a versatile market selection that includes forex, FX crypto, crypto ETFs (exchange-traded funds), and more. Trading with margin is also possible, but do note that due to EU rules, crypto leverage cannot exceed 2:1, seeing as crypto is considered a very volatile product.
As Saxo Bank has been incorporated in Denmark, the entity is regulated by the Danish Financial Supervisory Authority (FSA). The broker has also earned the seal of approval of both the FINMA (Switzerland’s regulator) and CySEC (Cyprus).
If Saxo Bank happens to be the broker for you, you will not find it difficult to create an account. The registration process is straightforward, and Saxo Bank is quick when it comes to confirming the details of clients requesting verification.
Key Pros
- Regulated by top-tier supervisory bodies
- Easy registration
- Apart from crypto, users can trade forex options, stocks, and more
- Inexperienced traders can create a demo account
- SaxoTraderGO is an excellent platform
Key Cons
- Customer support is not available every day of the week
- Third-party platforms are not available
- Very limited in terms of tradable coins
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 65% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs, FX or any of our other products work and whether you can afford to take the high risk of losing your money. - 4. Tickmill
Min. Deposit €100 Regulations CySEC; registered with BaFin, the ACPR, CONSOB, and the CNBM Tradable Coins 9 Software MT4, MT5 Crypto Leverage 2:1 Fees BTCUSD – 12 pips (min); 10% swap charge per year is applied to all long positions Exchange/Wallet No Deposit Methods Bank Transfer, Visa, Mastercard, Skrill, Neteller, PayPal, Trustly Withdrawal Methods Bank Transfer, Visa, Mastercard, Skrill, Neteller, PayPal, Trustly If you are looking to partake in the crypto market while still having access to numerous traditional financial instruments like forex, commodities, and the like, Tickmill might just fit the bill. This CySEC-regulated broker supports the entire MetaTrader suite in terms of platforms, and its modest collection of tradable coins allows for trading of crypto coins like Bitcoin, Ethereum, and more through contracts of difference (CFDs). Clients can choose between two account types, Classic and Raw, although Swedish users will need to choose EURas the base currency as SEK is not supperted.
Tickmill strives to ensure that it can accommodate all types of traders, keep its operations secure, and provide competitive spreads, and its commitment is evidenced by the various rewards it has managed to earn in recent years. This includes “Best Forex Broker 2024” by Rankia Argentina, “Best Trading Spread” by BrokersView, and “#1 Broker for Commissions and Fees” by ForexBrokers.com, to name a few.
Key Pros
- Customer support is available via live chat
- Mobile-friendly
- Average execution time: 0.20 seconds
- VPS (virtual private server) service for crypto traders who also enjoy forex trading
- Economic calendar, trading toolkit, and other features
Key Cons
- 24/5 customer support
- No platform options besides MT
- Swedish is not included in the list of supported languages
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% of retail investor accounts lose money when trading CFDs with Tickmill Europe Ltd. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. - 5. AvaTrade
Min. Deposit €100 Regulations CySEC, Central Bank of Ireland, B.V.I Financial Services Commission, ASIC, JFSA, FSCA, ADGM, ISA Tradable Coins 15+ Software WebTrader, AvaOptions, AvaTrade App, Mac Trading, MT4, MT5 Crypto Leverage 2:1 Fees BTCUSD – 0.10% Over-Market Exchange/Wallet No Deposit Methods Visa, Mastercard, Wire Transfer, PayPal, Skrill, Neteller, Perfect Money, Boleto Withdrawal Methods Visa, Mastercard, Wire Transfer Traders in Sweden who are looking to try crypto trading with a reliable broker will find that there is much to like about AvaTrade. With a Trustpilot score of 4.5, AvaTrade evidently has a good reputation among its client base, and its market selection ensures users can partake in various types of trading. Whether you wish to trade cryptocurrencies, forex, commodities, or other products, AvaTrade will deliver.
AvaTrade employs 256-bit secure socket layer encryption to protect client data and McAfee Secure for the purpose of credit card fraud or identity theft. Moreover, the broker ensures that AvaTrade users’ money is segregated away from company money. We should also stress that AvaTrade is licensed by multiple reputable regulatory bodies, including CySEC (Cyprus), ASIC (Australia), and the Central Bank of Ireland. The broker also strives to assist new crypto traders via its substantial collection of articles and videos, and it also has a demo account option.
Key Pros
- Available in Swedish
- A good range of deposit methods are at the disposal of users
- Robust SSL encryption
- Suitable for Android and iOS devices
- Licensed by CySEC and the Central Bank of Ireland
Key Cons
- Few withdrawal methods
- Inactivity fee of €50 after three months of inactivity
- Minimum deposit requirement of €100
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. - 6. Plus500
Min. Deposit €100 Regulations FCA, CySEC, ASIC, FMA (New Zealand), FSCA, SFSA, EFSA, DFSA Tradable Coins 20+ Software Proprietary Crypto Leverage 2:1 Fees BTCUSD – 193.58 pips (min) Exchange/Wallet No Deposit Methods Visa, MasterCard, PayPal, Skrill, Bank Transfer, Apple Pay, Online Banking, MyBank Withdrawal Methods Visa, Mastercard, Bank Wire, Skrill, Neteller, PayPal Plus500’s origins date back to 2008, and it quickly grew to an international broker that serves the preferences of trading enthusiasts across the globe. Cryptocurrencies are among Plus500’s selection of CFD markets. The leverage Swedish clients will be able to take advantage of if they decide to use Plus500 for crypto trading is 2:1, as is the case with all brokers that operate within the territory of the European Union or the European Economic Area.
There are two account types to pick from, the first allowing one to partake in live trading while the latter is a demo account. A demo account is what one should choose if they are unfamiliar with the crypto market, as it allows for risk-free trading facilitated with virtual funds as opposed to real money.
Once one is ready to begin trading with real funds, there are various deposit methods to pick from. In terms of bank cards, Visa and Mastercard are available, while for digital wallets, clients can use PayPal, Skrill, or Apple Pay. Bank wire transfers and Trustly are also included in the deposit section.
Key Pros
- Clients can choose Swedish from the language options
- Over 20 crypto CFD products
- Useful educational content that includes guides, webinars, ebooks, and more
- SSL Encryption
- 24/7 customer support
Key Cons
- Third-party platforms are not available
- The education content could be better
- Inactivity fee
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 80% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Min. Deposit €0 Regulations ASIC, FSA, VFSC Tradable Coins 13 Software MT4, MT5, cTrader, DupliTrade Crypto Leverage 2:1 Fees BTCUSD – 10.63 pips (min)
ETHUSD – 2.59 pips (min)
SOLUSD – 0.143 pips (min)
ADAUSD – 0.0 pips (min)Exchange/Wallet No Deposit Methods Visa, Mastercard, Bank Transfer, PayPal, Crypto, BinancePay, Skrill, Neteller, Jeton, Perfect Money, MiFinity Withdrawal Methods Visa, Mastercard, Bank Transfer, PayPal, Skrill, Neteller, Perfect Money, Crypto, Jeton, MiFinity Swedish traders who are interested in crypto trading and, in particular, crypto contracts of difference (CFDs), will find Fusion Markets to be an excellent option. The broker has made depositing effortless by not requiring a minimum deposit amount and giving clients lots of payment solutions, has a variety of markets and 10+ cryptocurrency CFDs to pick from, and its spreads are considered to be relatively competitive. In terms of account types, clients can choose between a Zero, Classic, Swap Free, and Demo Account depending on what they prefer, with the last option being ideal for novices who want to try risk-free trading.
Fusion Markets has also ensured that whenever clients are in need of help, they can easily reach out to the customer support team for help via either live chat or email. Judging by Fusion Market’s impressive 4.5 rating on Trustpilot, many clients have had positive experiences when seeking out the broker’s customer support staff for assistance.
Key Pros
- Deposits are not subject to a minimum requirement
- Good selection of fiat-based payment methods
- Both MetaTrader platforms are supported
- Demo account available
- Offers various markets
Key Cons
- Not available in Swedish
- Phone support is exclusive to Australia
- Does not offer much in terms of education
Gleneagle Asset Management Limited (ABN 29 103 162 278) trading as Fusion Markets, is the issuer of the Fusion Markets Products described in this communication. Trading in Fusion Markets Products involves the potential for profit as well as the risk of loss which may vastly exceed the amount of your initial deposit and is not suitable for all investors. You should read all of these Financial Product Service Terms, the Product Disclosure Statement (PDS) and the Financial Services Guide (available on our website) carefully, consider your own financial situation, needs and objectives for investing in these Fusion Markets Products and obtain independent financial advice.- 8. FP Markets
Min. Deposit €50 Regulations CySEC, FSCA, SFSA, ASIC, registered with the regulator of St. Vincent & the Grenadines Tradable Coins 10+ Software MT4, MT5, TradingView, cTrader, WebTrader Crypto Leverage 2:1 Fees BTCUSD – 18.85 pips average spread Exchange/Wallet No Deposit Methods Visa, Mastercard, PayPal, Bank Transfer, Neteller, Skrill Withdrawal Methods Visa, Mastercard, Bank Wire Transfer, Neteller, Skrill FP Markets was established nearly two decades ago in Australia, and it now operates in a range of jurisdictions across the globe. Its CySEC licensing allows it to operate in jurisdictions across the European continent, and its catalogue includes various forex pairing, commodity CFDs, and more, with crypto CFDs being one of the highlights of FP Markets’ catalogue.
Blockchain mavens will find over a dozen CFD products of the most popular cryptocurrencies, and they will be able to trade with a leverage of up to 2:1. We should also point out that FP Markets is compatible with smartphones, regardless of whether the devices run on Android or iOS, which makes FP Markets an excellent option for any trader who values portability.
If you suspect FP Markets might be the broker for you, you can rest assured that creating an account will not take up much time, and verification tends to be quick as well. Once done, you can choose between bank cards, digital wallets, or bank transfers to top up your account and prepare to trade crypto CFDs.
Key Pros
- Plenty of platforms to pick from
- Licensed by multiple reputable regulatory entities
- Competitive spreads
- Crypto, forex, and indices are a couple of the
- The registration process is straightforward
Key Cons
- 24/5 customer support
- The section dedicated to education leaves a lot to be desired
- €50 minimum deposit
10 per quarter for non-AU traders; 20 per quarter and notional volume of AU$1,000,000 per 4 quarters in the last 1 year 73.85% of retail CFD accounts lose money - 9. Oanda
Min. Deposit €0 Regulations CFTC, IIROC, FCA, MAS, IFFA, ASIC, MFSA, BVI Financial Services Commission Tradable Coins 13 Software MT4, TradingView, Oanda Web, Oanda Mobile Crypto Leverage 2:1 Fees BTCUSD – 40.50 (min)
ETHUSD – 28.10 (min)Exchange/Wallet No Deposit Methods Credit Cards, Bank Wire, Bank Transfer, Skrill, Neteller Withdrawal Methods Credit Cards, Bank Wire, Bank Transfer, Skrill, Neteller Oanda stands out as a broker that has been recognised by multiple of the world’s top-tier securities regulators, and that has earned various rewards throughout the years. In 2023, it was named “Broker of the Year” in the TradingView Broker Rewards, and in 2020, it received an accuracy ranking reward by Bloomberg.
Forex, commodities, and, of course, cryptocurrency CFDs are among the products Oanda users can trade, and the broker supports several platforms. MetaTrader4 will be the most familiar to veteran traders, but TradingView, Oanda Web, and Oanda Mobile are also available, with the last option being compatible with both Android and iOS smartphones.
While Oanda has an excellent FAQ section as well as a section dedicated to education, it is possible that there are times when getting assistance will be necessary. In such cases, Oanda clients can reach out via email, live chat, WhatsApp, or Facebook. Calling the support staff or SMS is also an option, but only in select countries.
Key Pros
- Multiple options in terms of platforms
- Mobile-friendly
- Regulated by reputable supervisory entities
- Excellent resources in terms of education
- Demo account
Key Cons
- Swedish is not included in the available languages
- Phone support is not available everywhere
- SEK is not a base currency at Oanda
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.72% of retail investor accounts lose money when trading CFDs with OANDA TMS Brokers S.A.You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. - 10. Eightcap
Min. Deposit €100 Regulations CySEC, ASIC, FCA, Securities Commission of The Bahamas Tradable Coins 100+ Software TradingView, MT4, MT5, WebTrader Crypto Leverage 2:1 Fees BTCUSD – 170 pips (min)
ETHUSD – 20 pips (min)
ADAUSD – 5 pips (min)
SOLUSD – 200 pips (min)Exchange/Wallet No Deposit Methods Visa, Mastercard, PayPal, Wire Transfer, Skrill, Neteller, Crypto Withdrawal Methods Visa, Mastercard, PayPal, Wire Transfer, Skrill, Neteller, Crypto Eightcap is an excellent broker to go for if you value versatility. Forex, commodities, and crypto CFDs are all included in Eightcap’s selection of instruments, with the selection of tradable coins, including Bitcoin, Ethereum, Solana, and more. Each crypto derivative can be traded with leverage of up to 2:1.
Both MetaTrader platforms are supported, as is TradingView for those who consider MT’s interface and feature selection outdated. If you would not like to trade without downloading software, Eightcap also offers a web trading platform.
Eightcap’s commitment to versatility is also evident in its deposit and cashout pages. Whether you enjoy depositing via bank cards, digital wallets, wire transfers, or crypto, you will be able to top up your account easily. This makes deposits a breeze, although note that the minimum deposit requirement stands at €100.
Key Pros
- Markets like crypto CFDs, forex, commodities, and more
- Customer support is available via live chat
- AI-powered economic calendar
- Supports the full MetaTrader suite
- Licensed by CySEC, ASIC, and other reputable regulators
Key Cons
- Customer support is not available on Saturdays and Sundays
- €100 minimum deposit
- The education content page is difficult to navigate
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76.09% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Swedish Crypto Exchanges Ranked by Trustpilot Score
| Forex Broker | Trustpilot Reviews | |
|---|---|---|
| 1. Safello | 1646 | 3.8 ⭐ |
| 2. Bitpanda | 9912 | 3.8 ⭐ |
| 3. Binance | 4500 | 1.4 ⭐ |
Top Swedish Crypto Exchanges Fees
| Exchange | Maker/Taker Fees | Staking | Deposits Fees | Withdrawal Fees |
|---|---|---|---|---|
| 1. Binance | Spot & Margin: from 0.1000% / 0.1000% to 0.0120% / 0.0240% (depends on tier); Futures: from 0.0200%/0.0500% to 0.0000%/0.0170% (depends on tier) | 2.94% (ETH) 0.3%~5.6% (SOL Simple Earn) 2.7%~3.88% (USDT Simple Earn); N/A in Australia | 2% for buying crypto with AUD; 2% (Bank Cards); €1 (SEPA Transfer) | Free; €1 (SEPA Transfer) |
| 2. Bitpanda | 1.49% premium for buying / selling BTC (0.10% - 0.15% for Pro Accounts) | Up to 25% | Free | Free |
| 3. Safello | 3%/7%; Trading fees follow a volume-based structure and are dependent on the trading volume: <150 SEK - 3.49% >5 MSEK - 0.19% Swapping fee: 0.99 % of the transaction amount | N/A | N/A | Bitcoin - 0,00025 BTC Ethereum - 0.003 ETH Solana - 0.01 SOL USDC - 3 USDC Dogecoin - 4 DOGE Bitcoin Cash - 0.00025 BCH Chainlink - 1 LINK Polygon - 10 MATIC Litecoin - 0.001 LTC Uniswap - 1 UNI Maker - 0.005 MKR The Graph - 37 GRT Alrgorand - 20 ALGO Aave - 0.2 AAVE The Sandbox - 15 SAND Compound - 0.14 COMP |
Top 3 Crypto Exchanges in Sweden
Binance
With over 215 million users and counting, Binance is one of the most popular and trusted exchanges across the globe. Sweden is yet another location where Binance has gained a foothold, and it is registered with the Swedish Financial Supervisory Authority as a financial institution that may be used for managing and trading cryptocurrencies.
Hundreds of coins can be traded via Binance, with Bitcoin, Ripple, and Ethereum being but a few of the examples included. The exchange now offers a Web3 Wallet as well, which is a self-custody crypto wallet that is easy to use and secured via multi-party computation.
Its platform is feature-packed and suitable for desktop (macOS, Windows, Linux) and mobile devices alike. However, if you are not used to trading cryptocurrencies, the platform will take getting used to as many users consider it to be relatively complex.
| Binance Exchange Details | |
|---|---|
| Min. Deposit | Effectively no minimum |
| Regulations | Registered with the AMF, OAM (Italy), FIU, the bank of Spain, KAS (Poland), SFSA (Sweden), AFSA, FSRA, Central Bank of Bahrain, VARA, AUSTRAC, Indonesia’s Commodity and Derivatives Exchange, and Mexico’s financial regulator. Regulated by the JFSA. Licensed by the Thailand Ministry of Finance and El Salvador’s CNAD. |
| Tradable Coins | 500+ |
| Crypto Trading | Spot Trading, Margin Trading, Futures, Options |
| Crypto Leverage | 2:1 |
| Fees | Regular User: 0.1000% / 0.1000% VIP 9: 0.0120% / 0.0240% |
| Wallet | Binance Web3 Wallet |
| Deposit Methods | Visa, Mastercard, Apple Pay, Google Pay, Bank Transfer |
| Withdrawal Methods | Bank Transfer |
Key Pros
- Registered with the SFSA (Sweden)
- Sufficient fiat-based deposit methods
- Over 500 tradable coins
- Live chat customer support
- Competitive maker/taker fees
Key Cons
- Novice traders have reported finding the platform unintuitive
- Only bank transfers can be used for withdrawals
- Neither phone nor email support is available
Bitpanda
Established in 2014, Bitpanda is a broker with a decade of experience that gives Swedish blockchain enthusiasts the opportunity to trade Bitcoin, Litecoin, and 400 more cryptocurrencies. The exchange is also registered with the Swedish Financial Supervisory Authority.
The exchange is committed to ensuring that its users have access to educational content, which can be found in the Bitpanda Academy. There, users can take advantage of dozens of lessons on security, personal finance, the blockchain, and more.
Once a trader has decided to give Bitpanda a try, they will find that registering is a piece of cake and verification will not take up much of their time. Swedish clients should keep in mind that making a deposit can be done only via Mastercard or Visa, and the minimum deposit requirement is SEK 125.
| Bitpanda Exchange Details | |
|---|---|
| Min. Deposit | SEK 125 (minimum amount to buy and sell assets: SEK 10) |
| Regulations | SFSA (Sweden),BaFin, FCA, FMA (Austria), AMF, CITIA (Czech Republic), OAM (Italy), FSAN (Norway), BDE (Spain) |
| Tradable Coins | 400+ |
| Crypto Trading | Spot Trading, Crypto Indices, CFDs |
| Crypto Leverage | 2:1 |
| Fees | 1.49% premium for buying and selling BTC |
| Wallet | Custodial |
| Deposit Methods | Visa, Mastercard |
| Withdrawal Methods | Visa, Mastercard |
Key Pros
- MiFID II complaint
- 400+ cryptocurrencies
- Swift verification process
- DDOS protection and SSL encryption
- In addition to crypto, Bitpanda supports the trading of stocks, ETFs, previous metals, and more
Key Cons
- Swedish is not available in the language options
- Very few deposit and cashout methods
- No live chat support
Safello
The year 2013 saw the inception of Safello, a Swedish crypto exchange that is registered with Sweden’s local securities regulator. Its catalogue encompasses numerous cryptocurrencies, with Bitcoin, Cardano, and Dogecoin being several of the notable examples.
Safello’s platform is clean and suitable for a wide variety of users, and the exchange offers a stand-alone application that can be downloaded either from Google Play or the App Store, depending on the operating system of one’s device.
While customer support is not available around the clock, clients on the review platform Trustpilot have nonetheless praised the exchange’s customer support team for being helpful and quick to provide clients with answers and resolve issues. When the customer service team is not available, clients can browse the convenient help page.
| Safello Exchange Details | |
|---|---|
| Min. Deposit | SEK 350 (buy orders min.), SEK 200 (sell orders min.) |
| Regulations | SFSA (Sweden) |
| Tradable Coins | 20+ |
| Crypto Trading | Spot trading, margin trading |
| Crypto Leverage | 2:1 |
| Fees | 3% (maker) / 7% (taker) Trading fees follow a volume-based structure and are dependent on the trading volume: <150 SEK – 3.49% >5 MSEK – 0.19% Swapping fee: 0.99 % of the transaction amount |
| Wallet | Safello Wallet |
| Deposit Methods | Apple Pay, Google Pay, SEPA, Swish, Bankgirot |
| Withdrawal Methods | Crypto |
Key Pros
- Two-factor authentication
- Available in Swedish
- Suitable for Android and iOS devices
- Clients can register via BankID
- Live chat customer support
Key Cons
- Comparatively low number of tradable coins
- KYC can take up to 2 days
- Customer support is not available 24/7
Legal Status of Cryptocurrency Trading in Sweden
The trading of cryptocurrencies is legal and subject to the capital gains tax in Sweden. In June 2024, the European Markets in Crypto-Assets (MICA) regulation came into effect in the country, but its implementation was partial. The MICA decree will be fully implemented in December 2024.
MICA is set to regulate cryptocurrencies and crypto trading across all of Europe, and a lot of its rules are based on the traditional laws that are already implemented by the securities regulators on the continent. Regulations are split into several categories, with some covering asset-referenced tokens, others e-money tokens, and last but not least, utility tokens, which do not fall under the first two categories. Stablecoins are also regulated under MICA, with licensing being required to certify their backing.
What Forms of Crypto Trading Are Legal in Sweden
If you are looking to trade cryptocurrencies in Sweden, you will be able to partake in spot trading and even trade with leverage. However, the cap on leveraged crypto trading is 2:1, as is the case in other European jurisdictions. Futures trading is also offered to Swedish clients at Sweden-friendly exchanges.
Another popular form of trading that is permitted in Sweden is achieved through contracts of difference (CFDs), which tend to be the only form of crypto trading available on traditional forex brokers.
It should also be noted that when it comes to trading stablecoins, the selection of tradable coins might not be as wide as in other jurisdictions, seeing as, according to new European legislation, stablecoins need to meet the requirements of MICA. For example, this July saw an announcement by Binance that USDC has become MICA-compliant and would, therefore, be available on the platform.
Who Regulates Crypto Trading in Sweden
The Swedish Financial Supervisory Authority is the entity that oversees the implementation and enforcement of MICA regulations in Sweden. It is also responsible for overseeing Sweden’s securities market in general. Crypto exchanges that look to target Swedish clients typically seek to be registered in the regulator’s list of eligible entities, or get a licence. P
When it comes to crypto CFD brokers in particular, they can operate in Sweden so long as they are licensed by any of the securities supervisors of MiFID-compliant jurisdictions. Such regulators include CySEC (Cyprus), BaFIN (Germany), and the AMF (France), among others.
Common Costs Associated with Crypto Trading in Sweden
If you are looking to trade cryptocurrencies and reside in Sweden, there are plenty of expenses that you will need to consider before embarking on your journey. First and foremost, remember that trading is always accompanied by either the spread, a commission, or maker and taker fees. The spread refers to the price gap between the lowest ask price and the highest bid price. It is advised to trade with narrow spreads when possible. If a broker advertises some products as having zero spread, it is highly likely that the platform charges a commission instead, so definitely check your respective broker’s account conditions and specific fee structure.
On crypto exchanges, in particular, traders will come across maker and taker fees, the former of which are typically lower than the latter due to makers’ role in providing the market with liquidity. Crypto platform users must also be aware of the transaction costs, which are known as “gas fees” when it comes to the Ethereum blockchain.
Deposits and cashouts may also come with costs. While platforms themselves seldom attach fees to deposits, you might need to pay some nonetheless due to your bank. As for withdrawals, it is more common to come across platforms that charge clients for cashouts. Another type of cost is the inactivity fee, which is charged when a client abandons their account for a prolonged period of time.
Of course, taxes should also be taken into account by anyone who is considering getting into cryptocurrency trading in the country. If you would like to learn about how crypto is taxed in Sweden, the following section covers the core details.
Are Profits from Crypto Trading Taxed in Sweden
According to Swedish legislation, a 30% capital gains tax applies on profits that Swedish traders accumulate from trading cryptocurrencies. Transactions associated with margin trading, the selling of crypto, futures trading (including derivatives), and NFT trading are examples of what is subject to the capital gains tax and must, therefore, be reported as capital gains. Traders should also keep in mind that 70% of losses can be deducted from one’s gains. If one happens to participate in the staking programme of their exchange of choice, then a 30% interest income tax also applies to the rewards.
Tax filing happens annually, and the absolute deadline that Swedish residents have to submit their taxes is May 2nd, although it may be extended to Matt 3rd or 4th should the original deadline date fall on a weekend.
How to Pick Quality Crypto Brokers for Sweden
There are various factors you can consider when it comes to assessing whether a crypto platform is suitable for you. First and foremost, make sure that the broker or exchange you go with is regulated or registered with the relevant supervisory bodies. In Sweden, the entity that regulates crypto trading is the Swedish Financial Supervisory Authority, and either a registration with this regulator or a licence will tell you that the entity is trustworthy. In the case of brokers, a licence from another MiFID-compliant supervisory authority will also offer reassurance of the broker’s conduct
Next, one should check a platform’s fees. Narrow spreads, lack of deposit and cashout fees, and low maker/taker fees are things you should aim to find when choosing a broker or an exchange.
As for software, plenty of exchanges and brokers have proprietary platforms. If you prefer industry staple platforms like cTrader, TradingView, or either of the MetaTrader iterations, you will typically need to go with a broker.
Next, you are going to want to go with a platform that supports the trading of various cryptocurrencies. On brokers, you will typically have a dozen or so crypto CFDs to pick from, while exchanges tend to have far more cryptocurrencies available to trade. Going with the latter will also let you trade futures or partake in spot trading.
Finally, do not forget to check the platform’s fiat-based deposit and cashout methods. Here, what matters is that the platform supports a couple of payment solutions that you find convenient to use.
Sweden Crypto Brokers FAQ
Yes, crypto trading is regulated under the Markets in Crypto-Assets (MICA) regulations. Crypto leverage is capped at 2:1, and profits are taxed as capital gains.
As established, pretty much any form of crypto trading is taxed in Sweden, and the capital gains tax stands at 30%. When it comes to losing positions, one can deduct 70% of the losses from the gains. Note that buying crypto is not taxed, however.
Yes, there are some key differences between crypto brokers and exchanges. First and foremost, exchanges tend to have far more trading coins. Moreover, brokers only facilitate trading via contracts of difference (CFDs), while exchanges offer crypto futures, spot trading, and peer-to-peer trading. Staking programmes are also common. On the other hand, exchanges do not typically offer forex, commodity, or other types of CFDs, making brokers more suitable for individuals who prefer to have various trading markets to pick from.
Yes, under MiFID legislation, retail traders in any European jurisdiction must be offered negative balance protection by brokers. This only applies to retail clients, however. If you are a professional trader, you will not be eligible for negative balance protection.
No, crypto brokers that are looking to offer their services to Swedish clients can do so so long as they are regulated by a supervisory entity in Europe. You can find a list of all of the EU and EEA regulators on the European Securities and Markets Authority‘s website.