Scalable Capital Review 2026: the German broker for ETF savings plans

By Kestutis Balciunas·Published June 2026

I have used a dozen brokers across Europe over the past eleven years, and I keep coming back to one question from readers: is Scalable Capital for ETF investors actually worth it, or is it just clever marketing? Scalable is now one of my affiliate partners, but that changes nothing about how I review it: I flag the weaknesses as bluntly as the strengths. Below, I walk through what Scalable really offers in 2026, what it costs, where your money sits, and who should genuinely consider it. Fees and rates change often, so treat every figure here as illustrative and verify the current price on scalable.capital before you commit.

For the exact buying steps, see my VWCE-on-Scalable walkthrough.

For the exact setup steps, follow my step-by-step Scalable savings-plan guide.

For the head-to-head verdict, read how Scalable Capital and Trade Republic compare.

What Scalable Capital actually is

Scalable Capital is a German neobroker and robo-advisor, founded in Munich. It started as a robo-advisor, but most newcomers know it today for its self-directed broker. The group operates through Scalable Capital GmbH and, increasingly, Scalable Capital Bank GmbH, and it is regulated by Germany’s financial watchdog, BaFin, alongside the Deutsche Bundesbank. That is the same supervisory framework that governs Germany’s major banks.

In practice, you get three things under one roof. First, a brokerage for buying shares, ETFs, funds, and crypto. Second, automated wealth management for hands-off investors. Third, a cash account paying interest on idle money. For most of my readers, however, the brokerage and especially the ETF savings plans are the main attraction.

The FREE and PRIME+ broker models explained

Scalable runs just two broker models, and understanding them is the key to deciding whether the platform fits you. There is a pay-per-trade plan, FREE, and a paid subscription, PRIME+, that unlocks free trading above a minimum order size.

FREE

The FREE plan has no monthly fee. You pay per trade, but selected ETFs and savings plans can be free. Single trades typically cost a small flat fee, often around €0.99 illustratively, while qualifying PRIME ETF purchases above a set order size can be free. Crucially, ETF savings plans run free of charge on this plan too. For a buy-and-hold investor who rarely places one-off trades, this tier is often enough.

See also: How to buy ETFs on etoro.

PRIME+

The paid subscription, PRIME+, costs a modest monthly fee, illustratively around €4.99 per month. In exchange, you get free trades above a minimum order size on the core venues. Therefore, frequent traders and larger DCA investors tend to favour it. Always verify the current price on scalable.capital, because Scalable has restructured these models more than once. If the model fits you, you can open a Scalable Capital account and start on the FREE tier.

Why Scalable Capital for ETF investors is the standout feature

Here is where Scalable genuinely shines. The ETF savings-plan selection is enormous. You can automate a monthly purchase from as little as €1, and a very large share of the ETF universe runs commission-free as a savings plan, regardless of which model you choose. For a disciplined investor building wealth through regular contributions, this matters more than almost anything else.

I have written before about automating wealth building through ETF savings plans, and Scalable is one of the cleanest implementations I have used. You set the amount, pick the date, and forget it. No tinkering, no fees nibbling at small contributions. That is exactly why so many German and EU investors rate Scalable Capital for ETF investors who simply want to drip money into the market each month.

However, note one detail. Savings plans execute on a single primary venue rather than across many exchanges. For long-term accumulation that is fine, but it is worth knowing.

The real costs, honestly

Let me be straight about pricing, because the headline “free” can mislead. Savings plans are free, and that is the genuine win. One-off ETF and share trades, though, depend on your tier and venue. On the core venues, gettex in Munich and the European Investor Exchange, trades are cheap or free above a threshold. But if you want execution via Xetra, expect a flat fee plus a small venue charge, illustratively around €3.99 plus roughly 0.01% of order volume.

So the honest summary is this. If you are a regular saver, your real cost can be near zero. If you trade frequently outside savings plans, or you insist on Xetra, the costs add up. Run your own numbers with our EU broker fee comparator before deciding, and confirm the live figures on scalable.capital.

Cash interest on idle money

Be clear on one point here, because it trips people up. The broker account does NOT pay interest on uninvested cash sitting idle in your brokerage. If you want interest, you must use Scalable’s separate overnight cash account, which is a distinct product rather than part of the broker. The rate there is variable and tracks market conditions, illustratively around 2.50% per annum recently. This separate account is useful for parking an emergency buffer or money you have not yet deployed. That said, do not treat any neobroker rate as permanent. Rates move quickly, so verify the current rate on scalable.capital.

Regulation and where your money sits

This is the part too many reviews skip. Scalable is regulated by BaFin, which is reassuring. But where your assets actually sit depends on the service.

For broker clients, securities have historically been held with a partner custodian, with Baader Bank AG acting as the core custody partner, while Scalable Capital Bank GmbH increasingly handles more of the infrastructure directly. Your securities are segregated special assets, legally separate from the broker’s own balance sheet. Cash deposits fall under the German statutory deposit guarantee, protecting up to €100,000 per person per bank. On the top tier, Scalable can spread cash across several partner banks, multiplying that statutory protection.

In short, the regulatory and protection setup is solid. Even so, read the current custody documents yourself, because the bank arrangements have been evolving.

Where you can use it across the EU

Scalable began in Germany and Austria, then rolled out more widely. As of 2026 it serves several core markets, including Germany, Austria, Italy, France, Spain and the Netherlands. If you live in one of those countries, you are well covered. If you live elsewhere in the EU, check availability first, because the rollout is core-market focused rather than truly pan-European. For German residents specifically, I compare the field in my guide to the best broker for German investors.

Who Scalable Capital suits, and who it doesn’t

It suits the regular DCA investor brilliantly. If you contribute monthly to a handful of ETFs and rarely trade otherwise, Scalable is hard to beat on cost and convenience. It also suits investors who value strong BaFin regulation and want cash interest alongside their portfolio.

It does not suit everyone, though. Active traders who need advanced charting, options, or a full desktop platform will feel constrained, because Scalable is app and web only. Investors who want broad multi-venue routing or deep global market access will also find it limiting, since execution leans on a single primary venue. Furthermore, if you dislike paying a subscription simply to unlock free trades, the model may grate. The focus on Germany and a handful of EU-core markets can also exclude investors elsewhere. Honesty matters here, and these are real trade-offs rather than minor quibbles.

How it compares to Trade Republic and IBKR

Scalable’s closest rival is Trade Republic, another German app-first broker with excellent savings plans. I explain why Trade Republic stands out for ETF investors separately, but the short version is that both are superb for DCA, and the choice often comes down to interface preference and tier structure. Interactive Brokers, by contrast, plays a different game entirely: global reach, professional platforms, and the lowest costs for active or large investors, but a steeper learning curve.

For the full landscape, see our European ETF brokers hub.

Fee figures in this guide are cross-checked against our EU broker fee benchmarks, reviewed quarterly.

My first-person experience

I have run savings plans on Scalable for several years now. The setup took minutes, and the monthly executions have been reliable. I genuinely appreciate that small contributions are not eaten by fees. The app is clean and quick, and I rarely need support.

That said, I have hit the limits too. When I wanted finer control over execution venue, I felt boxed in. And when markets were volatile, I missed having a proper desktop platform with deeper tooling. The support experience, while adequate, leans heavily on the help centre rather than fast human contact, which can frustrate during urgent moments. So my honest verdict is simple: as a long-term ETF saver, I am happy. As an occasional active trader, I keep a second broker.

One practical tip from experience. I treat Scalable as my accumulation engine and nothing more. The savings plans do the heavy lifting quietly each month, and I resist the urge to trade in the app. That discipline, rather than any single feature, is what has made it work for me over the years. If that accumulation-engine role is what you need, you can open your account with Scalable Capital in a few minutes.

Common mistakes investors make

First, people pay for PRIME+ when the free tier would serve them perfectly. If you only run savings plans, you may not need the subscription. Second, investors route one-off trades through Xetra and then complain about fees, when the cheaper core venues would have done the job. Third, some chase the cash interest rate as if it were fixed, only to see it drop. Finally, a few forget to check whether their country is supported before signing up. Avoid these, and the experience improves dramatically.

Key takeaways

• Scalable is a BaFin-regulated German neobroker, strong on regulation and EU coverage.
• Its huge free ETF savings-plan range, from €1, is the genuine standout.
• The FREE model suits pure savers; PRIME+ suits frequent or larger investors.
• Costs stay low for regular DCA, but rise for frequent or Xetra trades.
• It is app and web only, with a single primary execution venue, so active traders may feel limited.
• Always verify the current price and rates on scalable.capital before committing.

FAQ

Q: Is Scalable Capital safe and regulated?
A: Yes. It is regulated by BaFin and the Deutsche Bundesbank, securities are held as segregated special assets, and cash benefits from the German statutory deposit guarantee up to €100,000 per bank.

Q: Is Scalable Capital for ETF investors actually free?
A: ETF savings plans run free across the tiers, which is the genuine win. One-off trades, however, may carry a small fee depending on your tier and chosen venue. Verify the current price on scalable.capital.

Q: What is the difference between FREE and PRIME+?
A: Scalable offers only these two models. FREE has no monthly fee and charges per one-off trade, though savings plans stay free. PRIME+ charges a monthly subscription but unlocks free trades above a threshold.

Q: Which countries can use Scalable Capital?
A: As of 2026 it serves core EU markets including Germany, Austria, Italy, France, Spain and the Netherlands. Check availability for your country first.

Q: Does Scalable Capital pay interest on cash?
A: Not on uninvested cash in the broker account. Interest is paid only on cash held in Scalable’s separate overnight cash account, a distinct product, illustratively around 2.50% per annum recently. Rates change, so verify the current rate on scalable.capital.

See also: S broker depot.

Q: Can I trade on Xetra with Scalable?
A: Yes, but Xetra execution carries a flat fee plus a small venue charge. The core venues, gettex and the European Investor Exchange, are cheaper, and savings plans execute on the primary venue.

Q: Is there a desktop trading platform?
A: No. Scalable is app and web only. Active traders who need advanced desktop tooling, options, or charting will find this limiting.

Q: How does Scalable compare to Trade Republic?
A: Both are BaFin-regulated, app-first German brokers with excellent free savings plans. The choice usually comes down to interface preference and tier structure rather than a decisive feature gap.

Q: Who should not use Scalable Capital?
A: Active or professional traders needing a full desktop platform, multi-venue routing, or deep global access. Such investors are usually better served by Interactive Brokers.

Q: Do I need PRIME+ to invest in ETFs?
A: No. The free tier already lets you run ETF savings plans at no cost. Only consider PRIME+ if you place frequent one-off trades or want the enhanced cash features.

Cited sources: Morningstar and justETF. Fees and rules change — verify current terms with each broker.

See also: Degiro core selection ETF list.

Kestutis Balciunas
European UCITS/ETF investor with 11+ years building a global dividend and index portfolio, and founder of Financial Expert Class. I write every guide here from first-hand experience investing across EU brokers and tax regimes — not theory. More about me →