Swedish Investors Trade at Record Pace as Avanza and Nordnet Post April Data

Avanza and Nordnet published their April 2026 statistics on 7 May. Nordnet added more new customers during the month; Avanza’s daily trade volumes grew 40% year-on-year.

What the April Numbers Show

Nordnet added 17,400 customers in April, bringing its total to 2.45 million. Avanza added 13,600 customers, reaching 2.15 million total.

Trading activity told a different story. Avanza averaged 221,500 commission-generating trades per day in April, up 40% from the same period last year. Daily securities trading volume at Avanza reached SEK 5.5 billion, a 35% year-on-year increase. Nordnet recorded 295,600 transactions per trading day, growth of just under 3% year-on-year.

Both platforms posted strong net inflows. Avanza drew SEK 6.95 billion in net savings during April; Nordnet reported SEK 7.2 billion.

Key figures at a glance:

• Avanza: 2.15 million customers, 221,500 avg daily trades (+40% YoY), savings capital SEK 936 billion
• Nordnet: 2.45 million customers, 295,600 avg daily transactions (+3% YoY), savings capital SEK 1,280 billion

Why Trading Activity Diverged

Avanza’s customer activity grew significantly faster than Nordnet’s in April. Analysts attribute part of the gap to spring market volatility linked to tensions in the Persian Gulf, which drove short-term trading across equity and fund markets. Avanza’s customer base skews more toward active equity traders; Nordnet’s toward fund savers with longer time horizons.

The difference shows in savings capital growth. Avanza’s total savings capital stands at SEK 936 billion, up 8% year-on-year. Nordnet’s SEK 1,280 billion is 30% higher than a year ago. The divergence reflects Nordnet’s greater exposure to international equities and funds, which outperformed Swedish domestic stocks over the past 12 months.

Lending growth was strong at both platforms. Avanza’s internally financed lending increased 17% annually to SEK 24.1 billion. Nordnet’s total lending rose 12% to SEK 29.7 billion.

What to Watch

The April data signals a continuation of three trends in the Swedish retail investment market. First, both platforms are growing their customer bases fast, adding over 31,000 net new accounts in April alone. Second, trading activity is becoming increasingly event-driven rather than systematic, with platform statistics showing sensitivity to geopolitical volatility. Third, the bifurcation between active trading and passive fund accumulation is widening.

For investors holding assets across multiple accounts, whether at Avanza, Nordnet, or both, a consolidated view of total portfolio value and lending exposure becomes harder to maintain as balances and foreign-denominated holdings grow.