The lake mostly contains artic char but also brown trout. Small artic char is the most common, actually quite common. This lake is probably one of the best fishing lakes for the young generation to surely catch fish. There are also sizeable trouts in the lake. The catch in numbers can be found at www.veidivotn.is
There is a lot of fish in the lake and it does not matter what time of day the fishing takes place but generally the best fishing is in the morning and evening.
Frostastaðavatn is only one lake out of many to the south of Tungnaá. However, the Fishing card is only valid for Frostastaðavatn, but it is easy to buy permits in Landmannahellir for fishing in the other lakes as well. The cost, per fishing rod, is ISK 3,500 per day. Note that the entire lake area is nature reservation, and this ask people to be tidy and not cause any harm to nature and the environment.
Fishing shall be conducted from the banks and the islets are reserved. Children under the age of 14 can fish for free, accompanied by a card holder. Any violations of the fishing rules mean an instant abolition of all fishing rights, even to the point of having the fishing gear confiscated for damages, according to national laws on the fishing salmon and trout. It is not allowed to eviscerate or gut a fish at the banks of the lake, but rather at special facilities at Landmannahellir. Birds are conserved. Off-road driving is prohibited and within the reservation, camping is only allowed in designated camp sites.
Use of boats is generally not permitted but for exceptions such as regarding scientific research. Due to such research at these waters, fishermen are asked to note if any catch is marked by a plastic badge on the back. Such fishes need to be measured for length and weight, register the number on the badge and hand in that information to the guards at the Landmannahellir