Money Transfer & Trading Apps in Denmark for Foreigners

Managing your finances as a foreigner in Denmark doesn’t necessarily have to be complicated. Whether you’re sending money home to support family or investing for your future, money transfer and trading apps in Denmark are making it easier than ever to take control of your money, without waiting in line at a bank.

A growing number of money transfer and trading apps in Denmark offer low fees, fast service, and user-friendly platforms in English. From quick international transfers to building a stock portfolio from your smartphone, apps like these are tailored to meet the needs of modern lifestyles, and many of them are accessible even if you’re new to the country or don’t yet have a Danish bank account.

In this guide, I’ll walk you through the best money transfer and trading apps in Denmark which you can use while living in Denmark. You’ll learn which platforms are most reliable, what to look out for as a non-Danish resident, and how to get started with confidence.

If you are looking for a more detailed guide on matters related to money transfer and trading app in Denmark, you may want to check out my other guides, where I cover these topics in detail:

• Best Money Transfer Services in Denmark
• Best Stock Trading App in Denmark for Foreigners

Money Transfer Apps in Denmark for Foreigners

As a foreigner living in Denmark, sending money abroad is often part of life, whether to support family, pay international bills, or manage finances across borders. While Danish banks offer international transfers, they often tend to come with high fees and poor exchange rates. That’s where money transfer apps come in, as they’re cheaper, faster, and easier to use.

Here are the most popular and reliable services for sending money from Denmark:

Wise (formerly TransferWise)

Best for transparent fees and real-time exchange rates
Wise is a favorite among migrants and international professionals. It uses the mid-market exchange rate (the one you see on Google) and clearly shows how much you’ll pay in fees upfront.

• Pros:
  • Transparent pricing
  • Very competitive exchange rates
  • Fast bank transfers (1–2 business days)
  • Danish interface available
• Cons:
  • No cash pickup option
  • Requires ID verification

Use case: Ideal for people with a Danish bank account who regularly send money to their home country.

Revolut

Best all-in-one financial app (transfers, cards, and crypto)
Revolut is more than just a transfer service: it’s a full fintech platform. You can hold multiple currencies, spend with a physical or virtual card, and send money abroad instantly.

• Pros:
  • Supports dozens of currencies
  • Instant transfers between Revolut users
  • Includes budgeting tools and trading features
  • No CPR required to open an account
• Cons:
  • Free plan has monthly limits on fee-free transfers
  • Exchange rates can vary on weekends

Use case: Great for digital-savvy users and those who want both personal finance and international transfers in one app.

Remitly

Best for sending to developing countries (Asia, Africa, Latin America)
Remitly is focused on fast, low-cost transfers to countries where banking infrastructure may be limited. It offers multiple delivery options, including mobile wallets and cash pickups.

• Pros:
  • Very fast delivery (some within minutes)
  • Offers cash pickup and mobile money
  • Good coverage of non-European countries
• Cons:
  • Limited currency support
  • Slightly higher fees than Wise or Revolut for Europe

Use case: Perfect if you’re sending money to countries like the Philippines, Nigeria, India, or Pakistan.

Western Union / MoneyGram

Best for sending to people without a bank account
Still widely used for cash-based transfers. Both companies have physical locations throughout Denmark where you can pay in cash, and your recipient can pick up funds at local agents abroad.

• Pros:
  • Global reach, including rural areas
  • Cash pickup available
  • No need for sender or receiver to have a bank account
• Cons:
  • Higher fees and weaker exchange rates
  • Not ideal for regular transfers

Use case: For emergencies or if your recipient can’t receive bank transfers.

Trading Apps in Denmark for Foreigners

If you’re planning to stay in Denmark for a while, or simply want to make your savings work for you, investing through trading apps in Denmark can be a smart move. The good news is that you don’t need to be a Danish citizen to invest. But you do need to understand local rules, especially around taxes and registration.

Below are the most accessible and trusted platforms for foreigners in Denmark:

Saxo Bank / SaxoInvestor

Best Danish trading platform for long-term investors
Saxo Bank is Denmark’s leading investment platform. This professional trading hub is designed for individuals who want to invest in stocks, bonds, ETFs, and mutual funds.

• Pros:
  • Strong reputation and Danish-language support
  • Access to global stock exchanges
  • Local tax integration with SKAT
• Cons:
  • Requires CPR number and MitID for onboarding
  • Higher fees than some international platforms

Use case: Ideal if you’re settled in Denmark and want a reliable, tax-compliant investment platform.

eToro

Best for beginners and social investing
eToro is an international trading app with a simple interface and the unique feature of “copy trading” — letting you mirror the strategies of experienced investors. While it gives affordable access to stock investment, it offers ETFs, crypto, and more.

• Pros:
  • No Danish ID required to sign up
  • Copy trading and demo accounts for beginners
  • Access to crypto markets
• Cons:
  • Profits must be declared manually to SKAT
  • Not integrated with Danish tax system
  • Currency conversion fees

Use case: Great for newcomers to investing or those who want to experiment before switching to a Danish platform.

Important: Tax and Residency Rules

• If you’re a tax resident in Denmark, you must declare all capital gains, even from foreign platforms like eToro.
• You may need to register your trading account with SKAT.
• Platforms like SaxoInvestor make tax reporting easier because they integrate with Danish systems.

What to Consider Before Using Money Transfer & Trading Apps in Denmark

Before choosing money transfer or trading apps in Denmark, it’s important to understand how each type of service works, especially in relation to your residency status, tax obligations, and access to local banking infrastructure. Thus, in the table below, I compare the most relevant features across different app types:

FAQ About Money Transfer & Trading Apps in Denmark

Do I need a Danish bank account to use these apps?

Not always. Apps like Wise, Revolut, and eToro allow you to sign up with a foreign bank account or card. However, for Danish-based apps like SaxoInvestor or Lunar, a Danish bank account and CPR number are usually required.

Can I use these apps before I get my CPR number?

Yes, many international platforms (Wise, Revolut, eToro) let you open an account with just your passport or national ID. Danish apps will require your CPR and sometimes MitID.

Are profits from trading apps taxable in Denmark?

Yes. If you’re a tax resident in Denmark, you’re required to declare any capital gains, even if you earned them on a foreign platform. Danish platforms often report directly to SKAT, but with international ones, you’ll need to declare manually.

Are these apps safe to use?

Most of the apps mentioned are regulated by financial authorities in the EU, UK, or Denmark. Just make sure you download them from official app stores and activate two-factor authentication for added security.

Which app is best for regular money transfers to family abroad?

Wise is best for low-cost transfers to bank accounts. Remitly or Western Union are better if your recipient needs to pick up cash or use mobile money.