Denmark based CASP4.8/5Crypto pricing and fees: one flat 2% trading fee
Every trade on Penning costs a flat 2% — shown before you confirm, with no bank fees, no deposit fees and no monthly fees. Network costs pass through at cost. This is the complete schedule: what you pay, what you never pay, and the minimums per service.
The full fee schedule — service by service
The exact fee is always shown before you confirm. The displayed amount is what settles. Penning Wealth is advisor-led and priced with your advisor.
Fees effective
| Service | Fee | Minimum |
|---|---|---|
| Buy & sell crypto | 2% flat — no hidden FX spread | No minimum — start small |
| Native Swap (crypto-to-crypto) | 2% flat — all-in price shown before you confirm, no hidden bridge fee | No minimum |
| OTC Desk (block trades) | 2% flat, negotiable 1:1 | From €100,000 |
| Penning Invest (Edge & Trade) | 0% management fee — performance fee only | From €5,000 per strategy |
Zero hidden fees — in black and white
What 2% looks like on €10,000
- €10,000You fund
- −€2002% flat fee, shown before you confirm
- €9,800Converts to crypto
The fee comes out of your amount and is shown before you confirm. That is the whole cost — no hidden spread on the rate, and nothing taken when you withdraw.
A lower headline rate isn’t always a lower price
Penning charges one flat 2%, shown before every trade, on DKK straight from your bank. A headline rate can leave two costs out: a spread added to the exchange rate, and — on platforms without a DKK account — a currency conversion at your own bank. Below are each platform’s own published rates, verbatim, and whether they take DKK directly.
| Platform | What they publish | DKK in & out |
|---|---|---|
| Penning | 2% flat — shown before you confirm. No spread on the rate, no monthly fee. | Yes — direct, via your Danish bank |
| Bitpanda | Retail broker fee tiered by coin (0.99%–2.49%), Crypto Indices 1.99%; the advanced Bitpanda Fusion product uses a volume-tiered flat fee from 0.25% down to 0.02%Verified 17/07/2026 · Bitpanda Cost Transparency – Crypto-Assets v4.0.0 (08/07/2026) | Yes |
| Kraken | Kraken Pro uses maker/taker tiers; the retail Instant Buy flow adds a 1% fee plus a spread, and Kraken’s fee overview states it may retain any excess spreadVerified 17/07/2026 · Kraken fee schedule + overview of fees | No — you convert DKK→EUR at your own bank |
| Changelly | Floating-rate crypto-to-crypto is quoted at 0.25%; published minimums for fiat are 4% on purchases and 3.95% on sales, with all fees included in the quoted rate rather than itemisedVerified 17/07/2026 · Changelly fees FAQ + Terms of Use §3.1.1 | Via third-party partners, each with its own fees |
What the same €10,000 costs on Kraken
€10,000 → €9,800 in crypto. You saw the number before you confirmed.
- Convert DKK → EUR at your own bank — a currency markup Kraken doesn’t set or show.
- Kraken’s Instant Buy fee — the rate shown above.
- Plus a spread on the rate, which Kraken “may retain any excess” of.
Three costs, two of them invisible until the trade settles — no single number before you buy. On Penning, you saw €9,800.
Verified 17/07/2026 · Kraken fee schedule + overview of fees0% management fee. We only earn when you do.
No fixed or management fee — your full balance stays invested. Penning Invest charges a performance fee only on positive returns above a high-water mark: 30% on deposits under €50,000 and 15% on deposits of €50,000 or more. Two strategies — Penning Edge and Penning Trade — from €5,000 per strategy, funded in DKK, EUR or crypto.
The performance fee is the only fee — "0% management" does not mean the service is free. The full fee schedule is in your account agreement.
Past performance is not a guarantee of future results. The value of your investment may decrease. Penning Invest is a portfolio management service approved by the Danish FSA. Penning does not provide investment advice.
A regulated price list — not a marketing promise
Penning Financial Services ApS is one of Denmark's first CASP-licensed crypto platforms — authorised under MiCA and supervised by the Danish FSA (reg. FTID 10902). Transparent pricing is not just good manners — it comes with running a regulated platform.
Pricing and fees — frequently asked questions
The fees on this page are Penning's published fees. For Penning Invest, the complete fee schedule is part of your account agreement. Network costs depend on the blockchain in question and are passed through at cost. Nothing on this page is investment advice.
Start trading at a fee you can see
Open a free Penning account. One flat 2% trading fee, shown before you confirm — on one of Denmark's first CASP-licensed crypto platforms.