| Updated: August 26, 2024Finnish crypto investors looking for the best brokerages offering crypto trading can check our list of top brokers operating in Finland. To complete our selection of top crypto brokers, we have considered various factors that can contribute to a superb trading experience, offering low fees, tight spreads, and investor protection for crypto traders based in Finland. Since CFD crypto trading is the main service provided by most brokers operating in Finland, we have also included a few exchange platforms that offer competitive conditions for spot trading.
Fusion Markets74-89% of retail CFD accounts lose money
FP Markets73.85% of retail investor accounts lose money
Pepperstone75.5% of retail investor accounts lose money
IC Markets70.64% of retail investor accounts lose money
AvaTrade76% of retail investor accounts lose money
Capital.com75% of retail investor accounts lose money
eToro51% of retail investor accounts lose money
Plus50080% of retail investor accounts lose money
FxPro74% of retail investor accounts lose money
XTB80% of retail investor accounts lose moneyCrypto Brokers Ranked by Trustpilot Score
| Forex Broker | Trustpilot Reviews | |
|---|---|---|
| 1. Fusion Markets | 1,862 | 4.9 ⭐ |
| 2. FP Markets | 7,092 | 4.8 ⭐ |
| 3. IC Markets | 39,709 | 4.6 ⭐ |
| 4. AvaTrade | 8,855 | 4.4 ⭐ |
| 5. Global Prime | 161 | 4.4 ⭐ |
| 6. eToro | 25,095 | 4.2 ⭐ |
| 7. Plus500 | 14,038 | 4.1 ⭐ |
| 8. Admirals | 1,851 | 3.9 ⭐ |
| 9. IG | 7,200 | 3.7 ⭐ |
| 10. Tickmill | 835 | 3.7 ⭐ |
Finland Crypto Brokers Spreads
| Broker | BTCUSD | ETHUSD | SOLUSD | ADAUSD |
|---|---|---|---|---|
| 1. FP Markets | 1.27 | 2.7 | 0.2 | 0.0031 |
| 2. IC Markets | 8.71 | 4.56 | 0.10 | 0.001 |
| 3. AvaTrade | 0.10% | 0.15% | 1% | N/A |
| 4. Fusion Markets | 10.63 | 2.59 | 0.143 | 0.0 |
| 5. Global Prime | 64.3 | 6.61 | 0.35 | 0.29 |
| 6. eToro | 0.75% | 1% buy, 1% sell | 1% | 1% buy; 1% sell |
| 7. Plus500 | 0.30% | 8.1 (0.25%) | 3.21 (1.78%) | 0.00578 (1.39%) |
| 8. Admirals | 0.3% | 0.3% | 1.5% | 1.5% |
| 9. IG | 36 (min spread) | 1.2 (min spread) | 1.6 (min) | 1.4 (min) |
| 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 Finland
- 1. FP Markets
Min. Deposit €50 (€100 Bank Transfer) Regulations ASIC, CySEC, FSCA, SFSA, Registered with St. Vincent & the Grenadines Tradable Coins 10+ Software MT4, MT5, TradingView, cTrader, WebTrader Crypto Leverage 2:1 (Retail) Fees BTCUSD – 21.08 pips average spread Exchange/Wallet No Deposit Methods Visa, Mastercard, PayPal, Skrill, Neteller, Bank Transfer Withdrawal Methods Visa, Mastercard, PayPal, Skrill, Neteller, Bank Transfer FP Markets is one of the most reputable brokers catering to traders who enjoy forex and CFD trading products. Finnish crypto investors can also diversify their portfolio by joining FP Markets and picking from a wide range of tradable products. The crypto section will allow investors to speculate on the price movements of popular cryptocurrencies against fiat currencies.
Since CFD trading allows trading crypto coins without gaining ownership over the underlying asset, no digital wallet is required. The broker allows its clients to take both long and short positions on the price fluctuations of a crypto asset, making profit possible whenever markets are going through rallies or corrections.
With no commission charged on crypto trades, FP Markets strives to offer a competitive trading cost to its clients. Those who wish to boost their initial investment can make use of leverage when trading crypto CFDs.
Key Pros
- Supports popular third-party trading platforms
- Does not charge commission on crypto trades
- Supports several convenient payment methods
- Deposits do not impose fees
- Finnish traders can use different support channels
Key Cons
- Broker’s website not available in Finnish
- E-wallet withdrawals impose a fee
- Spreads can be higher than spreads offered by competitors
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72.92% 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. IC Markets
Minimum Deposit €200 Regulation CySEC, FSA, ASIC Tradable Coins 19 (BNB, ADA, DOGE, BTC, LINK, DOT, ETH, and more Software MT4, MT5, cTrader, TradingView Crypto Leverage 2:1 (Retail) Fees BTC/USD – 2.210 pips min spread; No commission fees on crypto CFDs Exchange/Wallet Service No Deposit Methods Visa, Mastercard, PayPal, Neteller, Skrill, Rapid Transfer, Klarna, Wire Transfers Withdrawal Methods Visa, Mastercard, PayPal, Neteller, Skrill, Wire Transfers Through its EU entity, IC Markets has expanded its reach, offering an even larger selection of traders the chance to trade a wide selection of products that fall under categories like forex, metals, stocks, indices, and more. Crypto traders will also be happy with the product coverage at IC Markets, offering crypto enthusiasts to trade the market 7 days a week.
Finnish crypto investors will be able to speculate on the prices of a wide selection of popular cryptocurrencies, allowing them to take both long and short positions. Since IC Markets allows trading cryptos through CFDs, there is no need for a digital wallet.
When it comes to funding one’s trading account, Finnish investors will have various fiat methods at their disposal. The majority of options allow instant deposits, with no additional fees attached to transactions. Withdrawals are also smooth and fast, allowing traders to receive their funds in a hassle-free way.
Key Pros
- Finnish traders can resort to various payment options
- Crypto market available 7 days a week
- No commissions charged on crypto trades
- Supports a wide range of crypto products
- Spreads on crypto crosses are very tight
Key Cons
- Website does not support Finnish
- Some crypto symbols may not be available to trade on weekends
- Requires minimum deposit to activate new trading accounts
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70.64% 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. AvaTrade
Min Deposit €100 Regulations ASIC, CySEC, IIROC, JFSA, CBI, DFSA, FSCA, ISA, BVI FSC Tradable Coins 16 (BTC, ETH, SOL, EOS, MIOTA, XRP, NEO, and more) Software MT4, MT5, ZuluTrade, DupliTrade, AvaTradeGO, AvaSocial Crypto Leverage 2:1 (Retail), 10:1 (Pro) Fees 0.10% Over-market spread for BTCUSD
0.15% Over-market spread for ETHUSDExchange/Wallet No Deposit Methods Visa, Mastercard, Skrill, Neteller, PayPal, Wire Transfer Withdrawal Methods Visa, Mastercard, Neteller, Skrill, PayPal, Wire Transfer Finnish crypto traders can find a wide selection of tradable instruments at AvaTrade, which is a reputable broker specializing in forex and CFD trading services. Through popular trading platforms, the broker offers its customers to trade 20 different crypto crosses. To make one’s crypto trading experience even more convenient and diverse, AvaTrade also allows trading the Crypto 10 index.
To ensure low trading costs, AvaTrade offers some of the tightest spreads on crypto pairs. Additionally, the broker does not charge any commissions on crypto trades, reducing the trading cost one pays for placing crypto orders.
Finnish crypto traders will be able to instantly fund their accounts, with several convenient payment methods allowing fast and fee-free deposits. Withdrawals are also possible through a few payment options, offering crypto traders to get quick access to their profits.
Key Pros
- Broker’s website available in Finnish
- Supports several payment options enabling instant deposits
- Offers CFD trading on various crypto assets
- Traders can go long and short on crypto CFD trades
- Does not charge commission on crypto orders
Key Cons
- Has a set deposit minimum for account activation
- Charges inactivity fee
- Chat support automatically launches chat bots
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. Minimum Deposit €0 Regulation ASIC, VFSC, SFSA Tradable Coins 13 Software MT4, MT5, TradingView, cTrader, DupliTrade, Fusion+, MAM/PAM Crypto Leverage 2:1 (Retail), 10:1 (Pro) Fees BTC/USD – 10.63 min spread; Bitcoin trading fee – 0.06%; no commission fees on crypto CFDs Exchange/Wallet Service No Deposit Methods Visa, Mastercard, Jeton, Perfect Money, Bank Transfer Withdrawal Methods Jeton, Perfect Money, Bank Transfer Finnish crypto traders have the opportunity to set up an account with Fusion Markets in a few simple steps and start trading right away. This forex and CFD broker covers a wide range of markets, with cryptocurrencies also listed as tradable products at Fusion Markets. The broker allows its customers to trade different crypto pairs in the form of CFDs, requiring no digital wallets for this form of investment.
Fusion Markets strives to offer its clients the most attractive prices, reducing spreads and charging no commission on opening crypto CFD positions. Bitcoin trading fees at Fusion Markets average around 0.06%, which is significantly lower than maker/taker trading fees one can encounter at many big crypto exchanges.
Leverage is offered to both retail and professional clients of Fusion Markets, giving any trader the chance to increase their initial investment. The maximum leverage available to retail crypto traders in Finland is 2:1 while professionals can increase the leverage up to 10:1.
Key Pros
- No minimum required to activate trading account
- Allows leverage to crypto trades
- Crypto traders can take long and short positions
- Charges no commission for opening crypto CFD positions
- Traders can contact customer support through various channels
Key Cons
- Broker’s website cannot be loaded in Finnish
- Withdrawals via bank cards not available to Finnish traders
- Not regulated by any authority in the EU
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.- 5. Global Prime
Min Deposit €0 Regulations ASIC, VFSC Tradable Coins 40 (BTC, ETH, DOGE, BNB, ADA, ATOM, BCH, EOS, LTC, and more) Software MetaTrader 4 (desktop, iOS, Android) Crypto Leverage 5:1 (Pro accounts only) Fees BTCUSD Average Spread – 64.3
ETHUSD Average Spread – 6.61Exchange/Wallet No Deposit Methods Visa, Mastercard, Crypto, PayPal, Neteller, Skrill, Bank Wire, Perfect Money, Jeton, MiFinity Withdrawal Methods Visa, Mastercard, Crypto, PayPal, Neteller, Skrill, Bank Wire, Perfect Money, Jeton, MiFinity Many traders have entrusted Global Prime with their crypto investments and Finnish crypto investors can also open an account with the broker and start trading popular crypto crosses right away. There is no minimum deposit required to open your account at Global Prime, meaning you can start with as little of a balance as you feel comfortable with.
With a wide coverage of crypto assets, Global Prime allows its clients to go both long and short on the price of various cryptocurrencies. Since crypto is traded in the form of CFD, you simply speculate on the price movements of an asset, without gaining ownership over it.
Since Global Prime is a strong believer in offering the lowest possible trading costs, the broker offers competitive spreads and charges a trading fee of only 0.1% per trade. Payments are possible through a variety of banking options, most of which enable fee-free and instant transactions.
Key Pros
- Covers a large selection of crypto assets
- No minimum deposit for account activation
- Finnish traders can pick from various payment options
- Deposits do not imply any additional fees
- Spreads on crypto can be very tight
Key Cons
- No leverage available to retail traders
- Charges commission on crypto trades
- No digital wallet available
Global Prime is a trading name of FMGP Trading Group Pty Ltd (ABN 74 146 086 017) and is regulated by ASIC and licensed to carry on a financial services business in Australia under Australian Financial Services License No. 385620. Gleneagle Securities Pty Limited trading as Global Prime FX, is a registered Vanuatu company (Company Number 40256) and is regulated by the VFSC. The website is owned and operated by FMGP Trading Group Pty Ltd, ABN 74 146 086 017. - 6. eToro
Min Deposit $50 Regulations FCA, CySEC, AMF, MFSA, ASIC, FSAS, FinCEN Tradable Coins 100+ Software eToro Investing, eToro CopyTrader, eToro mobile App Crypto Leverage 2:1 Fees 1% fee for buying and selling crypto; 1% fee on crypto CFD trading Exchange/Wallet eToro Money Crypto Wallet Deposit Methods Visa, Mastercard, PayPal, Skrill, Neteller, Bank Transfer Withdrawal Methods Visa, Mastercard, PayPal, Skrill, Neteller, Bank Transfer To help Finnish traders experience various trading options without resorting to different platforms, eToro has incorporated several forms of crypto trading in one place. If you prefer to trade crypto assets by simply speculating on price movements, you can try eToro’s native trading platform and start trading CFDs, taking either long or short positions.
Beating many of its competitors, eToro offers its Finnish customers to trade 98 crypto CFDs, charging a 1% commission on opening a position and another 1% whenever the position is closed. Since you do not gain ownership over the underlying asset whenever you are trading crypto CFDs, you do not need any digital wallet. That said, you can use the eToro Money wallet to transfer your funds and even keep crypto funds for your diverse trades at eToro.
For those interested in spot trading, eToro also has an exchange platform that allows you to buy, sell, and exchange around 100 cryptocurrencies. Both sell and buy orders will incur a trading fee of 1%, while transferring your crypto fund to your eToro Money wallet will imply a 2% transfer fee.
Key Pros
- Offers both CFD and spot crypto trading
- Supports a wide range of crypto pairs and crypto coins
- Offers a digital crypto wallet
- Broker’s website available in Finnish
- Offers top-notch customer support service
Key Cons
- Trading fees tend to be on the higher end
- Charges transfer fee for transferring crypto to eToro Money wallet
- eToro Money Debit card not available to Finnish traders
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. - 7. Plus500
Minimum Deposit €100 Regulation CySEC, FCA, ASIC, FMA, FSA (Seychelles), MAS, EFSA (Estonia), DFSA, FSCA, BAPPEBTI Tradable Coins 21 crypto crosses, 1 crypto index Software Proprietary Crypto Leverage 2:1 Fees Spreads:0.30% for BTC/USD, 0.25% for ETH/USD, 1.46% for ETH/BTC Exchange/Wallet Services No Deposit Methods Visa, Mastercard, Bank Transfer, PayPal, Skrill Withdrawal Methods Visa, Mastercard, Bank Transfer, PayPal, Skrill If you are looking for a trustworthy brokerage platform that caters to Finnish crypto traders, you can join Plus500. Licensed by top-tier regulators, this broker makes sure to offer the best trading conditions to all of its customers while maintaining a fair and safe trading environment. In its selection of tradable CFD markets, Plus500 has also added cryptocurrencies.
The broker allows its clients to speculate on the price of various popular cryptocurrencies without gaining any ownership over the underlying crypto asset. In addition to typical crypto crosses against fiat currencies, Plus500 also allows its customers to speculate on the price movements of a group of crypto coins through the Crypto 10 Index.
Spreads on crypto CFDs are very competitive, allowing traders some of the best price points to trade with. Since traders can take both long and short positions, it is possible to profit from both market rallies and corrections. Members of the broker can also potentially increase their returns by making use of leverage, allowing Finnish retail traders to use leverage of up to 2:1 on crypto trades.
Key Pros
- Broker’s website available in Finnish
- Supports various payment options for instant and fee-free deposits
- Offers tight spreads on crypto CFDs
- Charges no commission on crypto orders
- Crypto products include Crypto 10 Index
Key Cons
- Charges inactivity fee
- Does not offer third-party trading platforms
- No phone support option
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. - 8. Admirals
Minimum Deposit $100 ($1 for Invest MT5 accounts) Regulation ASIC, CySEC, FCA, CIRO, FSCA, JSC (Jordan), CMA (Kenya), FSA (Seychelles), EFSA (Estonia) Tradable Coins 27 Software MT4, MT5, StereoTrader Crypto Leverage 2:1 Fees Spread: 0.3% for BTC/USD and ETH/USD
0.3% for BTC/USD,
0.60% for the Crypto 10 IndexExchange/Wallet Service No Deposit Methods Visa, Mastercard, Skrill, Klarna, Bank Transfer Withdrawal Methods Visa, Mastercard, Skrill, Bank Transfer One of the best trading options for Finnish traders is Admirals, which is a reputable broker that offers a myriad of forex and CFD trading products. The broker supports several popular third-party trading platforms that will grant access to various markets, including crypto CFDs. Operating under licenses issued by reputable regulators, Admirals also welcomes Finnish traders.
Since CFD trading allows taking a long or short position on the price of an underlying crypto asset without gaining any ownership over it, Admirals members do not need a digital wallet service to trade. Despite that, Admirals offers its custodial digital wallet that can be used to store and transfer funds, including cryptocurrencies that one intends to trade.
Since the Admirals Wallet is connected to a third-party exchange platform, traders can buy, sell, and exchange crypto coins straight via their wallet account. While CFD crypto trades will incur no commission on trades, if you decide to buy or sell crypto assets via the digital wallet of the broker, a 1% commission will be charged on each trade.
Key Pros
- Admirals Wallet enables buying, selling, and holding crypto
- Allows CFD crypto trading that does not require digital wallet
- Charges no commission on CFD crypto trades
- Admirals Wallet allows storing fiat funds as well
- Deposits incur no fees
Key Cons
- Broker website cannot be loaded in Finnish
- Admiral Wallet does not support P2P crypto purchases
- Traders can enjoy only one fee-free withdrawal per month
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% 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. - 9. IG
Minimum Deposit €50 – card payments
No minimum for bank transfersRegulation FCA, BaFin, DFSA, FSCA, MAS, ASIC Tradable Coins 11 major cryptocurrencies, two crypto crosses, and a crypto index Software MetaTrader 4, ProRealTime, L2 Dealer Crypto Leverage 2:1 Fees BTC min spreads – 38 Exchange/Wallet Service N/A Deposit Methods Visa, Mastercard, PayPal, Skrill, Neteller, Crypto, Bank Transfer Withdrawal Methods Visa, Mastercard, PayPal, Skrill, Neteller, Crypto, Bank Transfer Finnish traders are able to make the most of their crypto investments with the help of IG – one of the biggest and most reputable brokerages online. Regulated by top-tier authorities in the EU, the broker also accepts registrants from Finland, allowing them to explore a wide range of forex and CFD products.
Traders from Finland will have access to a wide selection of CFDs on crypto assets, with a special Crypto 10 Index offering even wider exposure to multiple cryptocurrencies with a single trade. Regarding crypto trading, IG offers Bitcoin and Ether investors to make use of the broker’s special Turbo24 product.
IG allows crypto traders to go both long and short, with the Turbo24 platform offering them to set up a knock-out level when they open their positions. That way, Bitcoin and Ether investors can cap their risk. CFDs on other cryptocurrencies are available on the MT4 platform, which also allows traders to cap their risk levels by setting up guaranteed stop-losses.
Key Pros
- Offers different options for crypto CFD trading
- Turbo24 trading reduces the risk of losing more than the initial investment
- Spreads on crypto pairs tend to be competitive
- Charges no commission on CFD crypto orders
- Offers wider exposure through the Crypto 10 Index
Key Cons
- Turbo24 supports only Bitcoin and Ether trading
- Broker’s website does not support Finnish
- Phone support not available on weekends
CFDs are complex instruments. 70% of retail client accounts lose money when trading CFDs, with this investment provider. You can lose your money rapidly due to leverage. Please ensure you understand how this product works and whether you can afford to take the high risk of losing money. - 10. Tickmill
Min. Deposit $100 Regulations FSA, FCA, DFSA, CySEC, FSCA, Tradable Coins 9 Software MT5, MT4, WebTrader Crypto Leverage 2:1 Fees BTCUSD
Minimum spread – 12
Typical spread – 24.9Exchange/Wallet n/a Deposit Methods Visa, Mastercard, PayPal, Neteller, Skrill, Trustly, Bank Transfers Withdrawal Methods Visa, Mastercard, PayPal, Neteller, Skrill, Trustly, Bank Transfers If you are a crypto trader based in Finland, you can benefit from opening an account with Tickmill, which is a leading brokerage operating in the EU. Traders who join Tickmill are exposed to a wide range of tradable products, including CFDs on cryptocurrencies. This market allows traders to take both long and short positions on the price movements of ranging crypto crosses.
Since pricing is always important when comparing crypto brokers, we can assure traders that Tickmill offers some of the most competitive spreads on a wide range of crypto assets. In addition, the broker does not apply commission whenever traders open and close their positions, making crypto trading at Tickmill extra cost-effective.
Crypto traders will have the chance to increase their initial investment when they trade CFDs in cryptocurrencies. Thanks to this option, retail crypto traders based in Finland will have the chance to trade crypto with a leverage of up to 2:1. Meanwhile, those who qualify for professional trading accounts will be able to increase the crypto leverage ratio significantly.
Key Pros
- Covers a decent selection of crypto assets
- Spreads on crypto CFDs are competitive
- Does not impose commission on crypto CFD orders
- Supports a wide range of payment options for Finnish traders
- Majority of payment methods enable instant deposits
Key Cons
- Broker’s website does not support Finnish
- Wire transfer deposits below $5,000 will incur fees
- Does not offer a wallet service
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.
Crypto Exchanges Ranked by Trustpilot Score
Crypto Exchanges Trading Fees
| Exchange | Maker/Taker Fees | Staking | Deposits Fees | Withdrawal Fees |
|---|---|---|---|---|
| 1. Coinbase | Taker fee between 0.05% and 0.60% depending on monthly traded volume; Maker fee between 0% and 0.40% depending on monthly traded volume |
|
|
|
| 2. OKX | Regular users - 0.140%/0.230% |
| Free | An automatically calculated fee applies to on-chain withdrawal transactions. |
| 3. Gemini | 0.20%/0.40% (Regular); 0.00%/ 0.03% (highest VIP tier) | 2.36% (ETH); 4.02% (SOL) | 3.49% Platform Fee + Trading Fees (Debit cards, ApplePay, GPay); 2.50% (PayPal) | $25 (SWIFT Wire Transfers) |
Crypto Exchanges in Finland
Coinbase
Trading crypto with Coinbase is always smooth, fast, and very accessible. Finnish traders have the chance to explore a variety of tradable coins, with fast orders and competitive prices being some of the best qualities of Coinbase.
Finnish traders will be able to use the Coinbase exchange platform for spot trading, with the trading fee applied to each order being more than reasonable. From the get-go, traders will be charged a maker or taker fee of 0.40% or 0.60%, respectively. The great news is that these fees apply for regular traders or beginners, with those who accumulate higher trading volumes within a month enjoying even lower trading fees.
Coinbase also allows its members to enjoy profits through crypto staking. Individuals who have installed the Coinbase app can stake their eligible crypto coins with just a few taps on the screen. The exchange supports more than 15 protocols when it comes to staking, allowing its customers to enjoy a different way of gaining crypto profits.
| Coinbase Exchange Details | |
|---|---|
| Minimum Deposit | $10 |
| Regulation | DNB, BaFin, FCA, CFTC |
| Tradable Coins | 248 coins |
| Available Crypto Instruments | Spot Trading, Futures |
| Crypto Leverage | 10:1 |
| Maker/Taker Fees | Taker: between 0.05% and 0.60% / Maker: between 0.00% and 0.40% |
| Wallet Type | Yes |
| Deposit Methods | Debit Card (buy only), Bank Transfer |
| Withdrawal Methods | Bank Transfer |
Key Pros
- Supports a wide range of crypto coins
- Offers staking on a variety of crypto assets
- Provides a digital wallet services
- Traders can easily purchase crypto via the wallet service
- Traders with higher monthly trading volume can reduce trading fees
Key Cons
- Finnish traders cannot access crypto derivatives
- Perks like zero trading fees, priority support, and more available only to Coinbase One members
- Finnish traders can use debit cards only for direct crypto purchase
OKX
Another great crypto exchange platform that welcomes Finnish traders is OKX, which offers great trading conditions to its clients. Members of OKX can instantly purchase crypto using certain fiat methods, the availability of which depends on the traders’ country of residency. Meanwhile, those who have funded their trading accounts can use the exchange platform to buy and sell crypto, with OKX offering speedy execution of all types of orders.
The maker and taker fees charged on buy and sell orders are extremely competitive, allowing even those who are new to trading to execute trades with maker/taker fees of 0.140%/0.230%. Meanwhile, those who enjoy trading bigger volumes can reach the highest tier of the OKX VIP scheme and reduce the maker/taker fees to -0.010%/0.015%.
OKX offers its customers the chance to gain profit even while simply holding their crypto. Thanks to the exchange platform’s EARN feature, traders can HODL their crypto and earn an annual interest rate on a wide range of crypto assets.
| OKX Exchange Details | |
|---|---|
| Minimum Deposit | €1 (R$10 for Pix) |
| Regulation | VARA (Dubai), FSA (Seychelles), MAS, AMF, AUSTRAC |
| Tradable Coins | 150+ coins, 240 crypto crosses |
| Available Crypto Instruments | Spot trading |
| Crypto Leverage | 10:1 for spot trading |
| Maker/Taker Fees | Regular users:0.140% / 0.230% Maker fees for VIP users:0.090% to -0.010% Taker fees for VIP users:0.180% to 0.015% |
| Wallet Type | Multi-chain, non-custodial wallet |
| Deposit Methods | SEPA Transfer |
| Withdrawal Methods | SEPA Transfer |
Key Pros
- Charges competitively low maker/taker fees
- VIP traders can significantly reduce maker/taker fees
- Offers spot trading of various popular cryptocurrencies
- Traders can earn significant AIR on various crypto assets
- Does not charge deposit and withdrawal fees
Key Cons
- Finnish traders can purchase crypto only via SEPA transfers
- No alternative payment methods available to Finnish traders
- Crypto derivatives not available to Finnish traders
Gemini
Finnish crypto traders can enjoy a wonderful trading experience any time they decide to buy or sell crypto assets on Gemini’s exchange platform. With a strong presence in the EU market, this brand strives to offer a fair and safe trading environment to all of its customers, offering them a wide range of services.
While derivatives are not available to Finnish traders, they can engage in spot trading on Gemini’s intuitive exchange platform. The maker and taker fees charged on orders placed in Gemini’s order book are extremely low even if you are a recreational trader. While regular maker/taker fees are 0.20%/0.40%, those who advance to the highest VIP tier at Gemini can enjoy maker/taker fees as low as 0.00%/ 0.03%.
Earning profit through crypto staking is also a feature available to Gemini’s customers. Traders who prefer to HODL their crypto have the chance to earn rewards thanks to Gemini’s staking program. Currently, the exchange offers staking of assets like Solana, Polygon, and Ether.
| Gemini Exchange Details | |
|---|---|
| Minimum Deposit | €0 (no minimum) |
| Regulation | HCMC, NYDFS, CBI, OAE, FCA |
| Tradable Coins | 130+ |
| Available Crypto Instruments | Spot trading, perpetual futures*, margin trading* |
| Crypto Leverage | 100:1 for perpetual futures (20:1 default leverage) |
| Maker/Taker Fees | 0.20% / 0.40% at the lowest volume tier 0.00% / 0.03% at the highest volume tier |
| Wallet Type | Institutional-grade cold wallet, insured hot wallet |
| Deposit Methods | ACH Bank Transfer, Wire Transfer, Debit Cards (instant buy only), Apple Pay (instant buy only), GPay (instant buy only) |
| Withdrawal Methods | ACH Bank Transfer, Wire Transfer |
Key Pros
- Finnish traders can purchase crypto via various payment solutions
- Offers both hot and cold digital wallet
- Traders can gain generous rewards through crypto staking
- Charges low maker/taker fees
- High monthly trading volume can significantly reduce trading fees
Key Cons
- Offers staking on a limited number of products
- Most fiat methods are available for instant crypto buy only
- Derivatives products not available to Finnish traders
Legal Status of Cryptocurrency Trading in Finland
Currently, Finland still has not introduced a specific legal framework for the regulation of cryptocurrencies and crypto trading. That said, the Finnish Parliament is to consider new legislation that will give the Financial Supervisory Authority (FIN-FSA) more regulatory powers, allowing it to implement stricter measures to protect Finnish crypto traders.
According to the FIN-FSA, the regulation of crypto trading depends on the type of crypto assets that have been traded as well as on the way the payment transactions related to the trade have been processed. If the virtual currency that is offered for trading is considered to be a security, entities that provide this type of asset must adhere to regulations related to the provision of securities. If the cryptocurrency does not fall under the categories of securities or financial instruments, entities that offer this type of digital asset must adhere to regulations imposed by the Consumer Protection Act.
The FIN-FSA has categorized virtual currencies related to initial coin offerings (ICOs) into three different groups based on the way they are utilized:
- Virtual currencies used similarly to payment instruments – Bitcoin is the most popular crypto asset that falls under this category, representing a virtual currency that has been developed as an alternative to traditional currencies used as payment instruments
- Utility coins – these are cryptocurrencies used only as payment instruments for a specific commodity
- Virtual currencies that are used like financial instruments – virtual assets that share similar features with securities, giving traders ownership and voting rights as well as promising some expected returns
The three aforementioned types of cryptocurrencies are treated by the FIN-FSA differently, which means that they are regulated in different ways.
Currently, the main piece of legislation that has provided legal guidelines for the regulation of businesses offering crypto trading services is the Act for Virtual Currency Providers (VCPs), known as target=”_blank” rel=”nofollow noopener noreferrer” Laki virtuaalivaluutan tarjoajista (LVT) in Finnish.
The LVT defines any virtual currency issuer, virtual currency exchange services, and digital wallet service provider as a VCP. Additionally, the act defines virtual currency services as the issuance of virtual currencies, the exchange of virtual assets, and the provision of crypto wallet services. Any entity that offers one or several of these services must register as a VCP with the FIN-FSA.
What Forms of Crypto Trading Are Legal in Finland?
Finnish crypto investors have several options when it comes to trading crypto assets. The majority of brokers authorized to operate in Finland are offering crypto trading in the form of contracts for differences (CFDs). This type of trading allows speculating on the price change of an asset without gaining any ownership over the underlying asset.
Under the Markets in Financial Instruments Regulation (MiFIR), the FIN-FSA has authorized the provision of CFDs if the provider has met several conditions. To be eligible to offer crypto CFDs to Finnish traders, service providers must:
- Request that the retail client pays the initial margin protection
- Provide the retail client with the margin close-out protection
- Offer negative balance protection to retail clients
- Not offer retail clients monetary or non-monetary benefits related to the sale, distribution, or marketing of a CFD
- Not use client communication channels to promote marketing, sale, or distribution of CFDs without the required risk warnings
As already covered, companies registered as VCPs are authorized to offer retail clients a set of virtual currency services, including the exchange of virtual currencies. That means exchange platforms or brokers that have been registered as VCPs with FIN-FSA can offer spot trading to residents of Finland.
Like other EU members, Finland has also limited the crypto trading options available to traders based within the country. Unfortunately, as of the time of writing this review, futures, margin trading, and other derivatives are not available to Finnish crypto traders.
Who Regulates Crypto Trading in Finland
The main body responsible for the regulation of the crypto trading market in Finland is the FIN-FSA. One of the roles of the authority is to ensure fair trading practices by enforcing a transparent and safe environment for Finnish investors.
In addition to introducing the regulatory framework for virtual currency service providers, the FIN-FSA is also the organization that issues permits to VCPs in the country. In order to offer any of the services that fall under the category of virtual currency services, companies must register with the FIN-FSA.
The application process for crypto service providers in Finland is very straightforward, requiring applicants to meet several AML (anti-money laundering) conditions. In order to be eligible for a VCP license from the FIN-FSA, entities must:
- Either register the company in Finland or have a Finish-based entity of the company
- Provide detailed business plan about the company’s operations
- Go through personnel evaluation process
- Provide required corporate legal documents
- Hold authorization for trade in Finland
- Ensure compliance with AML/KYC practices
- Have a share capital of at least €2,500
While the FIN-FSA is currently the official regulator of the crypto trading sector in Finland, we should also mention the Markets in Crypto-Assets Regulation (MiCA), which is expected to be fully implemented by the end of 2024/ the beginning of 2025.
While VCPs are currently required to be registered with the FIN-FSA to offer virtual asset-related services to Finnish traders, the goal of MiCA is to introduce a unified regulatory model for all VASPs (VCPs) based in the EU and EEA. That would mean that any company that has been registered as a VASP with any regulator based in the EU will be able to offer cryptocurrency-related services to traders from any country in the EU or the EEA.
Common Costs Associated with Crypto Trading in Finland
We recommend Finnish crypto trading enthusiasts to get familiar with any surcharges that may apply to their trades. Whether they decide to engage in CFD crypto trading with a broker or they intend to engage in spot trading on an exchange platform, Finnish traders will pay certain trading fees.
To be as competitive as possible, brokers strive to reduce the trading costs attached to CFD crypto orders, with tight spreads being the main way to offer low-cost trading to their customers. More often than not, brokers do not charge any commission on CFD crypto trades, including whatever small fee there is to the spread that applies to a crypto cross.
Spreads are the differences you will notice between the bid price and the ask price of a crypto asset, representing the fee that you will be charged for the order you place. Crypto exchanges offering spot trading to Finnish traders also have spreads attached to tradable cryptocurrencies. While brokers often provide detailed information about the average spread they charge on major crypto crosses, exchanges will rarely provide such information. That said, you can simply deduce the bid price from the ask price, which will reveal the spread applied to a crypto asset.
Whenever you place a “buy” or “sell” order on an exchange order book, you will be charged either a taker or a maker fee. The taker fee is applied to orders that are processed instantly or almost right away while maker fees are charged on orders that “make” the market as they get processed slower. Maker fees are typically lower than taker fees and can often be reduced to 0% whenever traders achieve high monthly trading volumes.
Whenever you deposit into your broker or crypto exchange account via a fiat method, you may also be charged a fee, depending on the payment solution you use. That said, the majority of trading platforms catering to Finnish crypto traders allow fee-free deposits. Additionally, often Finish traders can withdraw their profits without paying any additional fees.
Since crypto exchanges also allow traders to instantly purchase crypto through various fiat methods, this type of transaction may incur some fees. However, the size of this type of surcharge depends on the fiat method used, the volume of the purchase, and other factors that may affect the overall price of the purchase.
Are Profits from Crypto Trading Taxed in Finland?
Regarding crypto trading taxes, Finland has taken an approach similar to the view on crypto taxes in other EU countries. Finish crypto investors are required to pay taxes on their gains from crypto trading if the cumulative amount of their sales prices is above €1,000. Traders based in Finland also do not pay any taxes for their purchases of crypto assets via fiat methods. Transferring crypto funds between digital wallets or different exchanges is also not subject to taxes in Finland.
Sales of cryptocurrencies are subject to capital gains (CG) tax in Finland. The rate of this tax is 30% on profits below €30,000 and 34% when this threshold is surpassed. Those who gain profits from crypto mining are also required to pay an additional earned income tax of up to 44%.
Transactions that fall under the category of taxable crypto income in Finland include:
- Exchanging one cryptocurrency for one of many different cryptocurrencies
- Paying for a service/product via cryptocurrencies
- Trading cryptocurrencies for fiat currencies
- Staking cryptocurrencies
- Trading NFTs
- Profits gained from margin/futures trading
How to Pick Quality Crypto Brokers for Finnish Traders
While we have provided a list of reputable brokerages that cater to the needs of Finnish traders, we can also help Finnish crypto investors pick the best trading platform on their own. There are several factors to consider while picking a crypto broker operating in Finland. Those who learn how to spot the companies that offer the best trading conditions can always enjoy a smooth crypto trading experience.
We like to list regulation as the first requirement that brokers must meet in order to cater to the needs of Finnish traders. The best option is to pick crypto brokers that have been licensed by the local Finnish regulator – the FIN-FSA. That said, when it comes to CFD crypto trading, Finnish traders can also rely on brokers licensed by other top-tier regulators in the EU. Holding a license from some of the biggest regulatory bodies in the industry ensures access to various protection tools like zero balance protection or investor compensation schemes.
Crypto asset coverage is also important when one is looking for the best Finnish crypto broker. Platforms that cover a wider selection of crypto pairs can fit the preferences of a larger portion of traders and can also allow easy portfolio diversification. Some brokers also offer the chance to trade crypto indices featuring several of the most popular cryptocurrencies. Naturally, having more diversity is always a better choice for Finnish crypto traders comparing different broker platforms.
The cost of trading is another important factor that can make or break one’s crypto trading experience. Comparing spreads is always helpful, allowing you to indicate the broker that imposes the lowest trading fees on crypto orders. However, traders should also consider other surcharges like commissions, deposit and withdrawal fees, and other account-related fees that brokers may charge. We would like to remind traders that paying an overall lower trading fee is more important than simply having lower spreads attached to some crypto pairs.
Finland Crypto Brokers Q&A
When it comes to brokers offering crypto CFDs, Finnish traders have quite a few choices for trading on locally regulated platforms. That said, they can also open accounts with brokers licensed by other EU regulators or top-tier authorities known for ensuring safe and fair trading conditions for EU traders. As for crypto exchanges that wish to cater to Finnish traders, they must be registered as VCPs with the FIN-FSA.
Finnish investors trading CFDs on cryptocurrencies will have the chance to make use of leverage. However, due to the high risk linked to the use of leverage with highly volatile products like cryptocurrencies, the maximum allowed leverage for retail clients is capped at 2:1. Those who can open professional trading accounts can increase the maximum allowed leverage on crypto CFDs.
While new regulations are yet to be fully implemented in the EU crypto trading market, the MiCA regulation strives to make the crypto trading environment safer for Finnish traders as well as other crypto investors across the EU and the EEA. To show full compliance, some crypto exchanges have limited access to services like copy trading and products like some stablecoins for residents of EU countries. That said, with the implementation of MiCA, many exchanges registered with other EU regulators may enter the Finnish crypto trading market without obtaining a specific permit from the FIN-FSA.
While very few, there have been several brokers that have obtained the required license to offer other trading services like crypto exchanges that allow spot trading. Meanwhile, some brokers also offer custodial crypto wallets that are linked to third-party exchanges that may also offer the purchase and exchange of cryptocurrencies.
Brokers operating under a license issued by the FIN-FSA or another reputable regulator are required to offer their retail clients negative balance protection. That means Finnish traders who register with a properly regulated broker are bound to be offered negative balance protection whenever they trade crypto CFDs with leverage. Keep in mind, however, that this investor protection feature is not available to institutional traders who have access to advanced trading conditions.