UK online broker and investment platform Freetrade was recently granted a permit to operate in Sweden by the national regulator, Finansinspektionen.

Now the firm is launching its platform in the Swedish market and plans to offer a challenge to the two main players currently active in the country: Avanza and Nordnet.

“We want to challenge the duopoly in Sweden,” Head of Europe Jordan Sinclair tells Swedish daily Dagens Industri.

Freetrade was launched in the UK four years ago. An entirely digital platform, it offers trading with shares, ETFs and other securities. As its name implies, the platform’s competitive selling point is that it offers trading in regular stocks without any fees.

The firm mainly makes its money from certain premium accounts and fees from trading in certain other securities.

According to DI, Freetrade has previously highlighted Sweden as a key expansion market due to a high level of digital use in banking and investments.

The firm has been beta testing its platform in Sweden since receiving the go-ahead from the regulator in March.

Customers will be able to trade in US stocks to begin with, but the opportunity to buy and sell Swedish stocks will emerge in the new year, according to DI.

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