Buying shares has never been easier. With BankID and an app, you can own part of a listed company within minutes. But although the purchase itself is quick, a few choices are worth thinking through: which broker and account type you use, how you place the order, and how to avoid the mistakes many people make at the start.
This guide walks through the whole process, step by step.
Step 1: Set your limits before you buy
Shares are long-term savings. The stock market has fallen 30 per cent or more within a short time on several occasions, and it can take years for prices to recover. Before you buy your first share, you should have:
- A buffer in an ordinary bank account for unexpected expenses, so you never have to sell shares at a bad time.
- Expensive debt under control. It rarely makes sense to invest in shares while paying high interest on consumer loans or credit cards.
- A time horizon of at least five years for the money you invest.
Also think about how large swings you can live with. If a 30 per cent fall would make you sell in panic, a smaller share of your savings should probably be in stocks.
Step 2: Choose a bank or online broker
You trade shares through an investment firm or bank with access to the exchange, for example Nordnet, DNB or Nordea. Most banks offer share trading, and the differences lie mainly in price, range and ease of use.
Compare in particular:
- Brokerage fees per trade. These are often a percentage with a minimum fee per order.
- Which markets you can access, such as Oslo Børs, the other Nordic exchanges and the US.
- Whether the broker offers a share savings account (ASK).
- The app and tools, such as price charts, the order book and alerts.
When you open an account, you identify yourself with BankID and answer questions about your experience, finances and where the money comes from. This is required under anti-money-laundering rules and entirely normal.
Step 3: Choose an account type: ASK or ordinary share account
The most important choice is which account the shares will sit in.
| Share savings account (ASK) | Ordinary share account | |
|---|---|---|
| Tax when you sell at a gain | Deferred while the money stays in the account | Taxed the same year |
| Switching from one share to another | Tax-free | A sale at a gain triggers tax |
| Dividends | Taxed as received | Taxed as received |
| Losses | Deductible only when the account is closed | Deductible the same year |
| What you can hold | Listed shares and equity funds in the EEA | All shares, including US shares |
For most people buying Norwegian and European shares, ASK is the most flexible choice: you can sell one share and buy another without paying tax along the way, and you can withdraw what you have deposited tax-free. Tax only applies when you withdraw more than you have put in.
If you want to own US shares such as Apple or Microsoft, they must be held in an ordinary share account. Many investors therefore have both.
Step 4: Deposit money
Once the account is open, transfer money from your current account to the share account. At most brokers, the money is available for trading the same day or the next business day. Deposits into an ASK are recorded as deposits, and this is the amount you can later withdraw tax-free.
Step 5: Find the share you want to buy
Every listed company has a short code, a ticker. Equinor, for example, has the ticker EQNR. Search for the name or ticker in your broker’s app.
Before buying, it is wise to know what the company actually does, how it makes money and how the share has performed. On AksjeNet you will find a price chart, key figures, dividend history and a short company profile for every stock on Oslo Børs. Also look at how much the share trades each day. Large companies such as Equinor and DNB trade in large amounts every day, while some smaller stocks may see few trades. Thinly traded stocks can be hard to buy and sell at a good price.
Below are examples of large, actively traded companies on Oslo Børs. They are examples, not recommendations.
Equinor ASAEQNR419.40 NOK+0.4%BUY
DNB Bank ASADNB304.00 NOK+0.5%HOLD
Kongsberg Gruppen ASAKOG300.00 NOK+1.6%HOLD
Telenor ASATEL124.20 NOK−0.2%SELLLive prices from the latest close. Signals are model-based, not recommendations.
Step 6: Place the order
An order tells the exchange what you want to buy, how many shares and at what price. The two most common order types are market orders and limit orders.
| Market order | Limit order | |
|---|---|---|
| Price | The best price available right now | You set the highest price you will pay |
| Advantage | Executed immediately | You never pay more than your limit |
| Drawback | You may get a poor price in thinly traded stocks | Not executed if the price never reaches your limit |
For beginners, a limit order is the safest choice. Set the limit close to the last traded price. The order then stays in the market until it is executed or expires on the date you choose.
When placing the order, enter the number of shares, the price limit and how long the order should be valid. Check the amount once more before you submit it.
What brokerage fees mean for small purchases
Fees matter most when you trade small amounts. An example with an imaginary price model: the broker charges 0.1 per cent, with a minimum of NOK 50 per order. If you buy shares for NOK 10,000, 0.1 per cent would be NOK 10, but you pay the NOK 50 minimum. That equals 0.5 per cent of the amount, so the share must rise 0.5 per cent just for you to break even. Many brokers offer price classes with a low minimum fee for small orders, so it pays to choose the right one.
Step 7: After the purchase
Once the order is executed, the shares appear in your account straight away. Settlement, when the money is drawn and the shares are formally transferred, normally takes place two trading days after the trade.
After that, the main task is to follow along without overreacting. Read the quarterly reports of the companies you own, but avoid making decisions based on single days. Over time, diversification and patience matter most.
Common beginner mistakes
- Everything in one share. Even solid companies can fall sharply. Spread your money across several companies and sectors.
- Chasing yesterday’s winners. A share that has risen a lot is not automatically a good buy today.
- Trading too often. Frequent buying and selling means high fees and often leads to weaker results.
- Market orders in thinly traded stocks. These can give a much worse price than you expected.
- Panic selling. Price falls are a normal part of the stock market. Have a plan before you buy, not after the price has dropped.
Next steps
- Find and compare stocks on Oslo Børs
- Get started with your first portfolio on AksjeNet
- Import trades from Nordnet
- Read about index funds, a simple alternative to single stocks