Kvarn X makes investing easy and cost-efficient. You get affordable and direct access to international capital markets combined with the familiarity of a Finnish service.
You can trade US, European and Nordic stocks and ETFs with transparent pricing and without unnecessary intermediaries. Kvarn X combines global market access and local customer service in one 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 which we are building comprehensive investment services.
How does the service work in practice?
Kvarn X is the service where you manage your account, place trades and monitor your investments. Interactive Brokers is the international broker that executes trades in the markets and holds the securities in the client’s name.
In practice, you only use the Kvarn X service. Trade execution and custody of securities are handled in the background through Interactive Brokers.
Agreements and responsibilities in brief
To enable trading, the roles of the client and the 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 reception of orders. Kvarn Investment Services Oy receives the client’s orders through the Kvarn X service and transmits them for execution to its regulated partners, such as Interactive Brokers.
Account management and service development
During the initial registration phase, some contractual and basic account information is managed in the Interactive Brokers system as part of the contractual relationship between the client and Interactive Brokers.
Kvarn X is gradually introducing additional functionality so that as much account monitoring and management as possible can in the future be handled directly through 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, subject to a minimum of €4.
Pricing is consistent across the US, European and Nordic markets.
The service has no hidden fees or complicated pricing tiers across different markets.
Frequently asked questions
Who do I enter into an agreement with?
The investment services agreement and 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 the Interactive Brokers app?
No. You use the Kvarn X app for trading and monitoring your investments. The Interactive Brokers portal is only used for matters related to agreements and bank account information.
When can I start investing?
As soon as 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 information in the Interactive Brokers portal. After this, you can deposit funds by making a bank transfer to your securities account using the payment details displayed in Kvarn X.
Who manages client funds and securities?
Client funds and securities are administered and held in custody by Interactive Brokers as part of the contractual relationship between the client and Interactive Brokers. Kvarn Investment Services Oy does not hold client funds in custody.
How do I make withdrawals?
Once you have added your bank account information in the Interactive Brokers portal, you can make withdrawals directly through the Interactive Brokers system. Interactive Brokers allows one free withdrawal per month. Additional withdrawals are subject to a fee in accordance with their price list.
How can I buy stocks denominated in currencies other than euros?
You can place foreign exchange orders directly on the Kvarn X platform before trading. Currency conversion is carried out through Interactive Brokers and takes place in real time while the relevant markets are open.
What are the market opening hours?
Market opening hours depend on the relevant trading venue.
European markets are typically open for trading on weekdays from approximately 10:00 to 18:30 Finnish time.
US markets are generally open for trading from 15:30 to 23:00 Finnish time.
Opening hours may differ on public holidays. You can always find the current opening hours in the Kvarn X service in connection with the relevant instrument.