Scalable Capital vs DEGIRO — Neobroker Showdown

Scalable Capital and DEGIRO are two of the most popular brokers for Germany and German-speaking Europe. Both offer cheap access to ETFs, but they take different paths: Scalable runs a subscription-based model (PRIME+) with free savings plans, while DEGIRO is a pay-per-trade discount broker with kernel ETF lists. Which one fits your style?

Who this comparison helps

• DE, AT, and CH investors building passive portfolios
• FIRE savers running monthly ETF savings plans
• Investors deciding between subscription vs pay-per-trade models
• EU expats comparing European neobrokers

Quick verdict

• Casual investor (DE): Scalable Capital FREE — one-click savings plans
• Power user: DEGIRO — more exchanges, bonds, options
• Expat in EU: either — both accept EU residents in most countries
• FIRE / passive investor with €5 000+/month: Scalable PRIME+ — unlimited free trades

Scalable Capital — history and regulation

Founded in 2014 in Munich by Erik Podzuweit and Florian Prucker. Started as a robo-advisor, launched brokerage in 2020. Partners with Baader Bank for custody (BaFin-regulated, German deposit guarantee 100 000 EUR). Over 1 million clients, ~20 bn EUR AUM. Offers trading via gettex and Xetra.

DEGIRO — history and regulation

Founded in 2008 in Amsterdam. Acquired by flatexDEGIRO Bank AG (Deutsche Börse-listed) in 2020. Client accounts held by the German bank, BaFin-regulated, deposit guarantee 100 000 EUR. Over 2.8 million clients across 18 European countries.

Detailed comparison

Pricing models

• Scalable FREE: €0/month; €0.99 per trade on gettex, €3.99 on Xetra
• Scalable PRIME+: €4.99/month (annual); unlimited free trades >€250, savings plans free
• Scalable PRIME+ Flex: €2.99/month — lighter version
• DEGIRO: no subscription; €1 per ETF trade, free kernel ETF list (1 per month), ~€2.50 annual exchange fee

ETF savings plans (monatlicher Sparplan)

• Scalable: ~2 400 ETFs available as savings plans, all free from €1/month (on PRIME+ and FREE alike)
• DEGIRO: no formal savings plan feature — use free kernel ETFs, but manual order each month

Markets and instruments

• Scalable: gettex, Xetra, US stocks (via gettex), derivatives (knock-outs, warrants), crypto ETPs
• DEGIRO: 50+ exchanges (NYSE, NASDAQ, LSE, Euronext, Xetra, Borsa), bonds, options, futures

Interest on cash

• Scalable PRIME+: interest on uninvested cash (rates vary with ECB, typically 2–4%)
• DEGIRO: no interest paid on cash

Mobile app and UX

• Scalable: clean German-first interface, strong savings plan UX
• DEGIRO: functional, minimal, global but less polished

Support

• Scalable: German and English, email, chat
• DEGIRO: email, limited chat, multilingual

Security

• Both custodied at German banks (Baader Bank and flatexDEGIRO)
• BaFin-regulated, 100 000 EUR deposit guarantee
• Securities held in segregated accounts

Extras

• Scalable: robo-advisor (Scalable Wealth) with 0.75% fee, crypto ETPs, IPO participation
• DEGIRO: kernel ETF list (daily free trade), wider exchange coverage

Taxes (DE and beyond)

• Scalable: German Steuerbescheinigung (tax certificate) issued automatically — huge convenience for DE residents
• DEGIRO: also issues German tax certificates via flatexDEGIRO Bank (for DE residents)

Use case personas

Persona A — Lena, 28, DE, €300/month into MSCI World. Scalable FREE or PRIME+: free savings plan, auto-debit, zero friction. PRIME+ adds interest on cash.

Persona B — Max, 40, trades 40x/month, options + ETFs. DEGIRO: lowest per-trade cost on Xetra + options access. Scalable is expensive beyond savings plans if you're not on PRIME+.

Persona C — Sabrina, 35, FIRE, €2 000/month into multiple ETFs. Scalable PRIME+ (€4.99/month): all savings plans free + interest on cash. Over 10 years, savings plan automation saves hours of manual orders.

10-year cost example — €50 000 invested

Monthly DCA of €500 into VWCE:

• Scalable FREE: 120 trades × €0 (if via savings plan) or €0.99 one-off = €0–120 total
• Scalable PRIME+: €4.99 × 120 months = €599 + interest on cash offsets this entirely
• DEGIRO: 120 × €1 = €120 + €25 exchange fee = €145

If you use savings plans, Scalable FREE is effectively free. PRIME+ makes sense if you hold cash or trade frequently.

Common mistakes

• Paying PRIME+ fee without using it (no interest earned, few trades)
• Choosing DEGIRO with too many monthly trades — each costs €1 outside kernel list
• Ignoring German Steuerbescheinigung — essential for DE tax filing
• Using savings plans on non-Scalable-partner ETFs (not available)
• Not rebalancing annually — savings plans do DCA but not rebalance

FAQ

Is Scalable Capital a broker or robo-advisor? Both. Scalable Broker is the self-directed product; Scalable Wealth is the robo-advisor (0.75% fee).

Which broker is cheaper for monthly savings plans? Scalable Capital — €2 400+ ETFs, all free as savings plans. DEGIRO has no native savings plan feature.

Can non-German residents open Scalable? Yes, most EU residents are accepted (AT, FR, NL, IT, ES, and others — check the current list).

Do both issue tax certificates for Germany? Yes — both custodians (Baader Bank and flatexDEGIRO) provide Steuerbescheinigung for DE tax residents.

Which is safer? Both custodied at BaFin-regulated banks with 100 000 EUR deposit guarantee. Securities are segregated in both cases.

Checklist for choosing between Scalable and DEGIRO

• Do I DCA monthly into ETFs? → Scalable (free savings plans)
• Do I trade bonds, options, or futures? → DEGIRO
• Do I want interest on uninvested cash? → Scalable PRIME+
• Do I need multi-exchange coverage (GPW, Milan, Paris)? → DEGIRO
• Do I hold large cash balances between trades? → Scalable PRIME+
• Am I an Austrian/Swiss investor? → both serve AT; Scalable expanded more recently

When to switch

• You start a savings plan → Scalable
• Your monthly trade count exceeds 5–10 → consider PRIME+
• You want derivatives or bonds → DEGIRO
• You want to consolidate brokers and already hold DE-domiciled ETFs → stay with current custodian

Red flags to watch

• PRIME+ fee is justified only if you trade >5 times/month or hold >€20 000 cash
• DEGIRO kernel ETF list changes — the free one today may cost €1 tomorrow
• Scalable FREE charges €0.99–€3.99 per non-savings-plan trade — can add up
• Both brokers block US ETFs (SPY, VOO) for EU retail under MiFID II
• Interest rates on cash change frequently — read current Scalable terms before assuming 3%+

Tier-by-tier Scalable pricing

• FREE: €0/month, €0.99 per trade on gettex (min order €250), €3.99 on Xetra
• PRIME+ Flex: €2.99/month, 0 trades unlimited >€250, interest on cash
• PRIME+ (yearly): €4.99/month when paid annually, all FREE features + interest
• PRIME+ (monthly): €5.99/month, same as above

German Steuerbescheinigung — why it matters

For DE tax residents, the annual Steuerbescheinigung from the broker is essential for Anlage KAP filing. Both Scalable (via Baader) and DEGIRO (via flatexDEGIRO) issue this automatically. For non-DE residents, neither produces a local tax form — you self-report using CSV/PDF statements.

Savings plan universe

• Scalable: ~2 400 ETFs + 2 500+ stocks available as savings plans, most free
• DEGIRO: no native savings plan feature; closest alternative is monthly orders from free kernel list

Pan-European reach

• Scalable: DE, AT, FR, IT, ES, NL + selected EU countries (expanding)
• DEGIRO: 18 European countries including PL, CZ, SK, GR

For Polish residents: DEGIRO is the available option from this pair (Scalable does not serve PL directly as of 2026).

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