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Scalable Capital Review 2026: The European Broker You Might Be Missing

A complete analysis of Scalable Capital: pricing tiers, products, platform, and how it compares to Trade Republic and DEGIRO.

March 30, 202615 min

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If you follow the European investing space, you have probably heard of Trade Republic and DEGIRO. They are the two names that come up in almost every conversation about brokers for European investors.

But there is a third broker growing at an impressive pace across Germany, Austria, and an increasing number of European countries: Scalable Capital.

With over one million clients and billions in assets under management, Scalable Capital has established itself as one of the most relevant investment platforms on the continent. Yet in many European countries outside the DACH region, it remains relatively unknown.

In this article, we will take a deep look at what Scalable Capital offers, how much it costs, how the platform works, and how it compares to the most popular alternatives. Whether you are looking for a new broker or want to diversify across platforms, this guide will help you decide if Scalable Capital is the right fit for you.

What Is Scalable Capital

Scalable Capital was founded in 2014 in Munich, Germany, initially as a robo-advisor — an automated investment management platform. Over time, the company expanded its offering and launched a self-directed brokerage service in 2020, allowing users to buy and sell stocks, ETFs, funds, and crypto assets on their own terms.

The company is regulated by BaFin (the German Federal Financial Supervisory Authority), one of the strictest financial regulators in Europe. Your money and securities are held through Baader Bank, a fully licensed German bank. This means your cash deposits are protected by the German deposit guarantee scheme up to 100,000 EUR per account holder.

Unlike some newer brokers that operate under limited licenses, Scalable Capital works with a solid, fully regulated banking infrastructure. This matters more than you might think: in an environment where the safety of your money is just as important as low commissions, having a regulated custodian bank provides a meaningful layer of protection.

Scalable Capital currently operates in Germany, Austria, France, Italy, Spain, the Netherlands, and several other European markets. Its expansion into markets like Spain is relatively recent, which explains why it does not yet have the same visibility as Trade Republic or DEGIRO in those regions.

Pricing Tiers: FREE, PRIME, and PRIME+

One of the most interesting aspects of Scalable Capital is its subscription-based pricing model. Rather than offering a single plan with fixed commissions, it lets you choose between three tiers based on your investing profile.

FREE Broker (0 EUR/month)

The free plan is a solid entry point:

If you invest primarily through automated savings plans and only make a few manual trades per month, the FREE plan may be all you need. The 0.99 EUR commission per trade is competitive and comparable to what Trade Republic charges (1 EUR per trade).

PRIME (2.99 EUR/month)

The mid-tier plan is designed for investors who trade more frequently:

The breakeven point is straightforward: if you make more than 3 trades per month of 250 EUR or more, the PRIME plan is already cheaper than paying 0.99 EUR per trade. For active investors who buy ETFs or stocks regularly, this plan offers a cost-to-value ratio that is hard to beat.

PRIME+ (4.99 EUR/month)

The premium plan adds a significant financial benefit:

The interest-bearing cash account is the main draw of PRIME+. If you tend to keep a meaningful amount of cash in your brokerage account — waiting for opportunities, accumulating for a large purchase, or simply as a buffer — the interest you earn can easily offset the monthly plan cost.

Practical example: If you keep 10,000 EUR in cash in your PRIME+ account, you would earn approximately 260 EUR per year in interest. Subtracting the plan cost (59.88 EUR/year), your net benefit would be around 200 EUR. Even with 5,000 EUR in cash, the interest (130 EUR) still exceeds the plan cost.

Available Products

Scalable Capital offers a range of products that covers the needs of most European investors:

Stocks

Access to more than 7,800 stocks from European and US markets. You can buy shares from major exchanges (Xetra, NYSE, NASDAQ) directly through the platform. Orders are primarily executed through gettex (Munich Stock Exchange) and Xetra for German-listed securities.

ETFs

This is one of Scalable Capital's greatest strengths. They offer access to more than 2,400 ETFs, including the most popular ones among European investors:

Additionally, Scalable has partnerships with several ETF providers to offer PRIME ETFs: a curated selection of ETFs that can be bought and sold commission-free on any plan, including FREE. This is ideal if your strategy revolves around one or two global ETFs.

Crypto ETPs

Rather than offering cryptocurrencies directly, Scalable Capital provides access to crypto ETPs (Exchange-Traded Products). These include products that track the price of Bitcoin, Ethereum, and other popular cryptocurrencies. The advantage is that they are held like any other security and you do not need a separate crypto wallet. The downside is that they carry built-in management fees and you do not directly own the underlying crypto assets.

Investment Funds

Access to more than 2,000 investment funds from established fund managers. While the trend in Europe is shifting toward ETFs due to their lower costs, having the option to buy traditional funds can be useful for certain investment profiles or specific tax situations.

Bonds

Scalable Capital also offers direct access to bonds, both corporate and government. This allows you to build a more diversified portfolio without leaving the platform — something that not all neobrokers offer.

The Platform: Web and Mobile

Unlike Trade Republic, which started as a mobile-only app and took years to launch a full web version, Scalable Capital has committed from the start to offering both a robust web application and a mobile app.

Web Application

The web interface is clean, modern, and functional. You can do everything you need from the browser:

The experience is smooth and does not feel like a watered-down version of the mobile app. This is important for those who prefer managing their investments from a computer, especially when it comes to analyzing positions or reviewing documents.

Mobile App

The iOS and Android app is equally complete. The design is minimalist and well-organized, with intuitive navigation and fast load times. You can execute trades, check your portfolio, and manage savings plans without any issues.

Compared to Trade Republic, the Scalable Capital app feels somewhat more "professional" and less "youthful fintech." Both are good, but the styling is different. If you are coming from a more traditional broker, the transition to Scalable Capital may feel more natural.

What Is Missing

Not everything is perfect. Scalable Capital does not offer some features that advanced investors might miss:

For the majority of long-term investors, these limitations are minor. But if you are an active trader who relies on advanced charts and complex order types, this is something to consider.

Savings Plans

Savings plans are arguably Scalable Capital's standout feature, and where the broker truly shines against the competition.

All savings plans are free on every subscription tier, including the FREE plan. This means you can set up automatic recurring investments without paying any commissions, regardless of how much you invest.

Key features:

If your investment strategy is based on DCA (Dollar Cost Averaging) — investing a fixed amount at regular intervals regardless of market price — Scalable Capital is arguably the best platform available in Europe for doing so. The combination of zero commissions, a vast ETF selection, and flexible configuration is hard to match.

Example savings plan setup:

Interest on Cash

The interest-bearing cash account has become a battleground among European neobrokers, and Scalable Capital competes strongly in this space.

Current Conditions

Interest is calculated daily and credited monthly. There is nothing special you need to do to activate it: simply have the PRIME+ plan and hold cash in your account.

Comparison with Trade Republic

Trade Republic currently offers 2.75% APY on uninvested cash, available to all clients without requiring a paid subscription. This makes Trade Republic a more attractive option if your primary motivation is earning interest on your cash, since you do not need to pay a monthly fee to access the interest.

However, if you are already on the PRIME+ plan for the unlimited trades, the interest is an added benefit that can offset a significant portion of the plan cost. The decision depends on how frequently you trade and how much cash you hold.

It is important to remember that interest rates change with European Central Bank policy decisions. The current percentages reflect a relatively high-rate environment. If rates drop, these figures will adjust accordingly.

Pros and Cons

The Good

The Less Good

Scalable Capital vs Trade Republic vs DEGIRO

If you are choosing a broker, you are probably comparing these three options. Here is a quick summary:

| Feature | Scalable Capital | Trade Republic | DEGIRO | |---|---|---|---| | Commission per trade | 0.99 EUR (free on PRIME/PRIME+ for 250 EUR+) | 1 EUR | From 0 EUR (select ETFs) to ~2 EUR | | Savings plans | Free on all tiers | Free | Not available | | Interest on cash | 2.6% (PRIME+ only) | 2.75% (all clients) | No | | ETFs available | ~2,400 | ~2,000 | ~5,000+ | | Stocks available | ~7,800 | ~7,500 | ~15,000+ | | Crypto | ETPs | Direct + ETPs | No | | Web platform | Full | Full | Full | | Mobile app | Full | Full | Full | | Regulation | BaFin (Germany) | BaFin (Germany) | AFM (Netherlands) | | Options/Futures | No | No | Limited options | | Advanced order types | Limited | Limited | Somewhat more complete | | Best for | Active investors + savings plans | Beginners + passive saving | Product variety + ETFs |

Each one has its strengths. Scalable Capital stands out for its flexibility (you can choose the plan that best fits your needs) and its free savings plans with an enormous ETF selection. Trade Republic is the simplest option for beginners and offers interest without a monthly fee. DEGIRO has the broadest product catalog and is the best choice if you need access to uncommon international markets.

If you want a more detailed comparison between these brokers and others, check out our full comparison article.

Who Is Scalable Capital For

Scalable Capital is not for everyone, and that is perfectly fine. Here is how to tell if it fits your profile:

Scalable Capital makes sense if you...

It is probably NOT for you if...

How to Track Your Scalable Capital Portfolio in Arfin

If you use Scalable Capital alongside other brokers or bank accounts, getting a clear picture of your total net worth can be challenging. Each broker only shows what you hold with them.

Arfin lets you consolidate all your investments into a single dashboard:

No matter how many brokers you use, Arfin gives you the complete picture of your financial health in one place, designed specifically for European investors.

Verdict: Is Scalable Capital Worth It in 2026?

Yes, for the right investor profile.

Scalable Capital is a solid, well-regulated broker with a modern platform and a pricing model that rewards active investors and those who invest regularly through savings plans.

If you are coming from Trade Republic and have been frustrated by the lack of a robust web platform (though this has improved), or if you want more flexibility in your commission structure, Scalable Capital deserves a serious look.

If you are coming from DEGIRO and miss having automated savings plans or want a more modern interface, Scalable Capital fills that gap nicely.

The FREE plan is perfect for getting started and testing the platform with no commitment. If you find yourself trading frequently, upgrading to PRIME is a natural next step. And if you keep significant cash in the account, PRIME+ can effectively pay for itself through the interest it generates.

The key takeaway is that there is no single perfect broker for everyone. Many European investors use two or even three brokers for different purposes. What matters is choosing the ones that best align with your strategy and having a tool that lets you see everything together.

Open a Scalable Capital account

And to see all your investments in one place, regardless of how many brokers you use, try Arfin — the portfolio tracker designed for European investors.

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