Kvarn X makes investing easy and cost-efficient. You gain affordable and direct access to international capital markets combined with trusted Finnish service in one integrated platform.
You can trade U.S., European, and Nordic stocks and ETFs with transparent pricing and without unnecessary intermediaries. Kvarn X combines global market access with local customer support in an easy-to-use service.
Stock and ETF trading is provided in cooperation with the international broker Interactive Brokers (IBKR). Interactive Brokers is one of our first partners through whom we are building comprehensive investment services.
How the service works in practice
Kvarn X is the service where you manage your account, place trades, and monitor your investments.
Interactive Brokers is an international broker that executes trades in the markets and holds securities in the client’s name.
In practice, you use only the Kvarn X service. Trading and custody of securities are handled in the background via Interactive Brokers.
Agreements and responsibilities in brief
To enable trading, the roles of the client and service providers are as follows.
Client and Interactive Brokers
The client enters into an investment services agreement and a securities account agreement directly with Interactive Brokers. Interactive Brokers is responsible for the custody of securities and the execution of orders in the markets.
Kvarn Investment Services Oy
Kvarn Investment Services Oy is not a party to the securities account agreement. The client enters into an agreement with Kvarn Investment Services Oy solely for the purpose of receiving and transmitting orders. Kvarn Investment Services Oy receives the client’s orders via the Kvarn X service and transmits them for execution to regulated partners, such as Interactive Brokers.
How to activate trading
Register with Interactive Brokers
Start the registration process via the link shown in Kvarn X. Registration is part of the trading activation process.Complete the required information
During registration, you will provide basic information related to identification and investing.Identify yourself
You will need a valid identity document, such as a passport or national ID card.Wait for confirmation
Registration is usually approved within one business day, but in some cases it may take longer due to additional checks.Start trading
Once registration is approved, you will receive a confirmation message, your securities account will be automatically linked to Kvarn X, and you can deposit funds and begin trading.
Account management and service development
At the initial stage of registration, some contractual and basic account information is managed within Interactive Brokers’ systems as part of the contractual relationship between the client and Interactive Brokers.
Kvarn X will gradually introduce additional features so that an increasing portion of account monitoring and management can be handled directly within the Kvarn X service. We continuously develop the service in cooperation with our partners.
Trading fees
Kvarn X offers clear and competitive pricing.
The trading commission is 0.06% per trade, with a minimum of €4.
The special offer is valid until the end of April.
Pricing is unified across U.S., European, and Nordic markets.
There are no hidden fees or complex pricing tiers across different markets.
After the promotional offer ends, the minimum commission will revert to the standard pricing level of €8 per trade.
Frequently asked questions
Who do I enter into an agreement with?
The investment services agreement and the securities account agreement are entered into directly with Interactive Brokers.
What does Kvarn X do?
Kvarn X is the service where you place trades, monitor your investments, and receive customer support.
Kvarn Investment Services Oy receives orders and transmits them to Interactive Brokers.
Do I need Interactive Brokers’ own application?
No. You use the Kvarn X service for trading and monitoring your investments. The Interactive Brokers portal is used only for matters related to agreements and bank account details.
When can I start investing?
Immediately after your registration has been approved and you have deposited funds.
How do I deposit funds?
Once your Interactive Brokers account has been approved, you first add your bank account details in the Interactive Brokers portal. After that, you can deposit funds by making a bank transfer to your securities account using the payment details shown in Kvarn X.
Who manages and holds client funds and securities?
Client funds and securities are managed and held by Interactive Brokers as part of the contractual relationship between the client and Interactive Brokers.
Kvarn Investment Services Oy does not hold client funds.
How do I make withdrawals?
Once your bank account details have been added in the Interactive Brokers portal, you can make withdrawals directly through Interactive Brokers’ system. Interactive Brokers allows one free withdrawal per month. Additional withdrawals are subject to fees according to Interactive Brokers’ pricing.
How can I buy securities denominated in currencies other than euros?
You can place currency exchange orders directly on the Kvarn X platform before trading. Currency exchange is carried out via Interactive Brokers and takes place in real time while markets are open.
What are the market opening hours?
Market opening hours are determined by the trading venue of each individual security.
On European markets, trading typically takes place on weekdays from approximately 10:00 to 18:30 Finnish time.
On U.S. markets, trading usually takes place from 15:30 to 23:00 Finnish time.
Market hours may vary on public holidays. Up-to-date trading hours are always shown in the Kvarn X service for each instrument.
What do order statuses mean?
Submitted – the order has been received and sent for execution.
Pre-Submitted – the order has been accepted but is waiting for the market to open or for conditions to be met.
Executed / Filled – the order has been fully executed.
Partially Filled – the order has been partially executed.
Cancelled – the order has been cancelled.
Rejected – the order could not be executed, for example due to incorrect information, market restrictions, or insufficient funds.