Scalable Capital Review (2026)
*Investing involves risk. The value of your investments can rise or fall. Past performance is no guarantee of future results. Securities accounts are held with Baader Bank AG and protected up to €100,000 by the German statutory deposit guarantee scheme.
The Vibe Check
"Scalable Capital is Germany's sharpest answer to the fragmented European discount brokerage scene. Built on top of **Baader Bank’s** institutional balance sheet, it gives long-term ETF accumulators virtually unbeatable economics: **€0 automated savings plans** on over 2,500 ETFs and **€0.99 flat equity trades** on gettex. However, their primary commercial wedge is the **€4.99/month PRIME+ tier**. If you make fewer than five trades a month or keep less than €3,000 in uninvested cash, paying €59.88 a year for PRIME+ is an unnecessary drag on your portfolio compared to the Free Broker plan."
The Fine Print: Valerie's Scalable Capital Fee Audit
Scalable offers two primary pricing tiers: the **FREE Broker** (pay-as-you-go) and the **PRIME+ Broker** (subscription flatrate). Here is how execution tolls break down across both models:
| Fee Type | FREE Broker Model | PRIME+ (€4.99 / Month) |
|---|---|---|
| Account Maintenance | €0.00 / month | €4.99 / month (Billed monthly, cancel anytime) |
| ETF Savings Plans | €0.00 per execution | €0.00 per execution (From €1/mo) |
| Order Fee (gettex) | €0.99 per trade (Free for PRIME ETFs ≥ €250) | €0.00 flatrate on orders ≥ €250 (€0.99 below €250) |
| Order Fee (Xetra) | €1.99 + trading venue fee (~€0.01% min €1.50) | €1.99 + trading venue fee |
| Uninvested Cash Yield | 0.00% p.a. | Competitive variable interest on cash balances |
| Withdrawal Surcharge | €0.00 SEPA Transfer | €0.00 SEPA Transfer |
| Instant Deposit Fee | 0.99% (Free from €5,000) | 0.69% (Free from €5,000) |
| Inactivity Fee | €0.00 (No dormant penalties) | €0.00 |
The Core Edge: Gettex Liquidity & The ETF Savings Plan Engine
Unlike traditional banks that levy €10–€25 minimum execution tickets, Scalable routes primary orders through **gettex** (Munich Stock Exchange). During standard Xetra trading hours (09:00 to 17:30 CET), gettex market makers are legally required to quote spreads that are at least as tight as the reference Xetra market, preventing spread gouging.
For passive index investors, their automated savings plan engine (*Sparplan*) is class-leading: you can set up recurring, fractional-share purchases for over 2,500 UCITS ETFs from Vanguard, iShares, Amundi, and Xtrackers with an entry threshold of just **€1.00**, funded directly via SEPA direct debit from any European bank account.
Pros and Cons Breakdown
What We Love
- 100% free automated ETF and equity savings plans from €1/month
- Ultra-low €0.99 single-ticket trades on gettex with the Free Broker
- German regulatory protection under BaFin with €100,000 statutory deposit guarantee
- Direct access to Germany's institutional electronic exchange (Xetra)
- Zero custody charges and zero account inactivity penalties
- Clean desktop web portal alongside iOS and Android apps
Where It Falls Short
- PRIME+ subscription (€59.88/year) is required to unlock interest on cash
- Orders below €250 on PRIME+ still trigger a €0.99 processing fee
- Xetra exchange routing charges an additional €1.99 ticket fee
- Instant deposits via credit card/SOFORT carry a 0.69%–0.99% processing drag
- Tax reporting automation is optimized primarily for German, Austrian, and Italian tax residents
Valerie's Final Verdict
"Scalable Capital is our top recommendation for mainland European buy-and-hold ETF investors. If your primary strategy is monthly passive dollar-cost averaging, stick with the **FREE Broker**: you pay €0 in platform fees and €0 in execution tolls. Only upgrade to **PRIME+** if you execute at least six active stock trades each month or hold enough cash to make the net interest return exceed the €4.99 monthly subscription."
Open An Account If:
You want low-friction, automated UCITS ETF accumulation backed by strict BaFin regulation and zero ongoing custody fees.
Skip It If:
You are an active US day-trader requiring Level II options chains, or you want unbundled cash interest without paying a €4.99 monthly subscription.
Investing involves risk. Securities accounts are held with Baader Bank AG.