Investing for beginners: costs, accounts and risks

Starting to invest comes down to three choices: which account you invest through, whose service you use and which assets you buy. Pankkitutka does not tell you what to invest in, but it can compare the costs that eat into returns whatever the asset. This guide explains what the costs are made up of and what the choice of account means for taxation.

Not investment advice. Investing involves risk. Pankkitutka compares costs and does not recommend individual investments or service providers. The value of investments can rise and fall, and you can lose the money you invest.

What do investing costs consist of?

Costs include the account's monthly fee, a brokerage fee on every trade, the currency exchange cost on a foreign trade and a fund's ongoing costs or management fee. A small trade is relatively more expensive, because the brokerage fee usually has a minimum. That is why the same service can be cheap for large trades and expensive for small ones.

Below are the quick picks of the comparison. Each measures one thing at a time, and none of them is a recommendation.

• Cheapest equity savings account for an occasional trader€60.00/yearOP, Säästäjä packageonly Helsinki shares in the equity savings account
• Cheapest €10,000 trade in Helsinki€4.90/tradeDEGIROreport your trades to the tax authority yourself
• Cheapest €100 trade in Helsinki€1.00/tradeOPonly Helsinki shares in the equity savings account,Nordea
• Cheapest index fund, ongoing charges0.00%/yearNordnet: Nordnet Suomi Indeksi

Work out your own cost with the trading cost calculator: you enter the size of the trade and the number of trades, and the calculator shows the annual cost by provider.

Which account should I choose?

An investor in Finland has three common options: an equity savings account (osakesäästötili), a book-entry securities account (arvo-osuustili) or an investment account with a foreign broker. On an equity savings account the return is taxed only when you withdraw, but the account can hold only shares and the deposit limit is capped. A book-entry securities account can also hold funds and ETFs. Sales made through a foreign broker are reported by you.

A detailed comparison is on the equity savings account page, and taxation through a foreign broker is covered in the guide foreign broker taxation.

Taxation in brief

According to the Finnish Tax Administration (Verohallinto):

• The capital income tax rate is 30% up to €30,000 and 34% on the part above €30,000. (Verohallinto: Osakesäästötili, updated 1 January 2026; authority)
• Capital gains are tax-free if the total selling prices of shares sold during the calendar year are at most €1,000; you still need to check the sales on your tax return. (Verohallinto: Ilmoita tulot sijoituksista, updated 10 March 2026; authority)
• Instead of the actual acquisition cost, you can deduct a deemed acquisition cost from the selling price: 20% if you owned the asset for less than 10 years, and 40% if for at least 10 years. The taxpayer can use the more favourable method. (Verohallinto, syventävä ohje: Arvopaperien luovutusten verotus (VH/6094/00.01.00/2022), issued 20 December 2022; authority)

Risks

The value of an investment can fall, and you can lose the money you invest. Past returns are no guarantee of future returns. The risk of a single share is greater than that of a diversified fund. Investments are not covered by deposit guarantee. If a Finnish credit institution or investment firm cannot return the assets it holds, the Investors' Compensation Fund may compensate part of them:

• If a Finnish credit institution or investment firm cannot return the investment assets it holds for a customer, the customer receives compensation of up to €20,000 from the Investors' Compensation Fund. Unit-linked insurance, investment fund activity and crypto-assets are not covered. (Finanssivalvonta: Talletusten ja sijoitusten suoja, updated 22 May 2025; authority)
• The compensation fund pays 90% of the claim and the customer bears 10%; a claim of about €22,200 is needed for the full €20,000 compensation. Losses caused by price changes or poor advice are not compensated, and deposit guarantee and compensation fund payment are not both paid from the same assets. (Nordea: Sijoittajien korvausrahasto, no date, retrieved 16 October 2026; service provider)

The fund does not compensate market losses or losses caused by poor advice. Also read deposit guarantee: it is a different thing from the Investors' Compensation Fund.

Before you start

• Decide how long the money will stay invested, and set aside your spending money separately.
• Compare the account and service costs using your own trade sizes and number of trades.
• Find out whether the broker reports your sales to the Tax Administration or whether you report them yourself.
• Read fund costs and ETF investing costs if you are not buying individual shares.
• Do not invest money you cannot afford to lose.