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Last updated: October 2026. Part 5 of our student investing series. This page contains affiliate links to eToro. This is general information, not financial advice.
eToro is a popular choice and has been around for a while. It’s a solid app, but it works differently from a Danish broker when it comes to tax, so here’s what to know before you sign up.
eToro is a multi-asset investment platform. The value of your investments may go up or down, and your capital is at risk. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. A large share of retail investor accounts lose money when trading CFDs with eToro; see the current figure on eToro’s website. Consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Quick answer
eToro is an easy app with low commission on real shares and ETFs, and since 2026 it supports Danish kroner. It’s a reasonable second account for buying US shares. For most students it shouldn’t be the first: it has no aktiesparekonto, so gains are taxed at 27% or 42% instead of 17%, and you have to report your gains to Skattestyrelsen yourself. Start with an aktiesparekonto at a Danish broker, and treat eToro as an extra.
What eToro is
eToro is an international investing platform regulated in Cyprus by CySEC. You can buy real shares and ETFs from markets including the US and Copenhagen, and also crypto and CFDs. It’s known for its social features: you can follow other investors and copy their portfolios automatically (CopyTrader).
Fees
| Cost | eToro |
|---|---|
| Account and custody | Free |
| Shares and ETFs | From 1 USD per trade |
| Currency conversion | None on Copenhagen-listed shares in a DKK account; from about 0.75% when buying non-DKK assets |
| Withdrawal | Free from a DKK account; 5 USD from a USD account |
| CFDs and crypto | Spreads and overnight fees; check eToro’s fee page |
The headline commission is low. The cost to watch is currency conversion: buying US shares with kroner costs a percentage each way, which on small amounts can be more than a Danish broker’s minimum fee.
Pros and cons for a student
| Pros | Watch out |
|---|---|
| Low commission on real shares and ETFs | No aktiesparekonto: 27% or 42% tax instead of 17% |
| DKK account since 2026 | You report tax yourself |
| Simple app, fractional shares | Currency costs on non-DKK assets |
| Easy access to US shares | CFDs and copy trading make high-risk trading very easy |
Tax: what you must do yourself
eToro doesn’t report to Skattestyrelsen, so nothing appears in your tax assessment automatically. Every spring you need to:
- Download eToro’s yearly tax report from your account.
- Enter gains and losses on real shares as share income, and dividends, in TastSelv.
- Enter ETF gains for the year even if you didn’t sell, because ETFs are taxed every year.
- Enter any CFD gains or losses as capital income.
Our guide to how investing is taxed explains the income types. If you hold a mix of shares, ETFs and CFDs, the reporting takes real time each year.
CFDs and copy trading
A CFD is a contract on a price movement, not ownership of the share, usually with leverage: a small price move against you can wipe out your money fast. Copy trading lets you follow another investor automatically, including their risks. Neither is a good starting point. If you use eToro, buy real shares and ETFs without leverage.
eToro vs a Danish broker
| eToro | Nordnet / Saxo | |
|---|---|---|
| Aktiesparekonto (17% tax) | No | Yes |
| Tax reporting | You do it | Automatic |
| Commission on shares | From 1 USD | Minimum fee per trade; lower for new accounts at times |
| US shares | Easy, currency fee applies | Available, currency fee applies |
| CFDs, crypto, copy trading | Yes | Limited or no |
My take
eToro is a solid choice if you like the app and want easy access to US shares. Just go in knowing the trade-offs: no aktiesparekonto, so a higher tax rate, and an hour every spring entering your gains in TastSelv. If you’d rather never think about tax, a Danish broker like Saxo or Nordnet handles it for you. Whichever you pick, stick to real shares and ETFs rather than CFDs. The most important thing is to start.
→ See eToro (capital at risk)
FAQ
Is eToro safe in Denmark?
eToro is regulated by CySEC in Cyprus under EU rules and is listed on the stock exchange. Investor protection follows Cypriot rules, not Danish ones. Your investments can still lose value.
Can I open an aktiesparekonto on eToro?
No. The aktiesparekonto is only offered by Danish banks and brokers.
Does eToro report to SKAT?
No. You report gains, losses and dividends yourself in TastSelv, using eToro’s yearly tax report.
Is eToro free?
Opening and holding an account is free. You pay commission on trades, currency conversion on non-DKK assets, and fees on CFDs and crypto.
Last checked: October 2026. Fees change; check eToro’s current fee page before you invest.