Source: Scalable Capital
Scalable Capital has launched a neo-broker in Germany.
Customers can trade shares, ETFs and funds on the platform. Scalable Capital uses a new pricing model that for the first time offers a real flat rate for trading securities. With the "Prime Broker" option, customers can trade shares and ETFs or invest in ETFs with a savings plan for 2.99 Euros per month without any restrictions. There are no additional fees.
"Our broker gives private investors the opportunity to manage their investments themselves. Similar to Netflix, our flat rate offers full transparency of the costs. We help to make trading easier, better and cheaper for retail investors. This is a big step forward on the way to democratising investing," said Erik Podzuweit, co-founder and CEO of Scalable Capital.
Mobile and desktop trading with established technology
"Trading has to be simple," said co-founder and managing director Florian Prucker. "There is no place where you can open an account, make your first deposit, set up your first savings plan and start trading faster and easier than in our apps, which were developed from the ground up. We are proud to offer our customers so much functionality after one year of development." Scalable Capital's broker is available to clients in both the iOS/Android app and on the web.
Unlimited trades and savings plans for 2.99 Euros per month
Scalable Capital has three different pricing models available to clients with its neo-broker. The "Free Broker" option offers a free account with a charge of 0.99 Euros per trade; one ETF savings plan is also free of charge. The "Prime Broker" option offers an unlimited number of trades and unlimited savings plans for 2.99 Euros per month as a flat rate. For the first time in Germany, it is possible to invest free of charge in all ETFs of all ETF providers. The total amount is charged to the customer on an annual basis. With the "Prime Broker flex" option for 4.99 Euros per month, the same services as with the "Prime Broker" are available to customers, with the payment amount being charged on a monthly basis. None of the three options offered incurs additional fees for the customer - such as management fees, stock exchange fees, flat-rate third-party fees or custody fees.
With the Scalable broker, investors can trade shares, ETFs and funds Monday to Friday between 8am and 10pm. Orders can be placed almost fully around the clock on bank business days. Processing is carried out via the electronic trading platform gettex of the Munich Stock Exchange. Baader Bank, a proven partner of Scalable Capital since the market launch of its digital wealth management, serves as the custodian bank.