Trade Republic vs Scalable Capital: Which Is Better in 2026?

Trade Republic and Scalable Capital are the two dominant neobrokers in the European market. Both have expanded well beyond their German roots, both offer low-cost ETF investing, and both are competing fiercely for the same customer base. But they are not identical, and the differences matter depending on how you invest.

This is not a surface-level comparison. We are going deep into fees, product range, savings plans, crypto, cash interest, fractional shares, user experience, and everything else that affects your actual returns and experience as an investor.

Company backgrounds

Trade Republic

Trade Republic launched in Germany in 2019 and quickly became Europe's largest neobroker by account count. It holds a full German banking licence (since January 2024), which means customer deposits are protected under the German deposit guarantee scheme up to EUR 100,000. By early 2026, Trade Republic operates in 17 European markets.

The company has positioned itself as a one-stop financial platform — not just a broker but a current account replacement with an IBAN, a debit card (Visa), and interest on uninvested cash.

Scalable Capital

Scalable Capital started in 2014 as a robo-advisor before launching its brokerage platform (Scalable Broker) in 2020. It operates under a BaFin-regulated investment firm licence and partners with Baader Bank for custody and execution. The company is available in Germany, Austria, and several other EU markets, though its geographic reach is smaller than Trade Republic's.

Scalable offers two distinct products: the Scalable Broker (self-directed investing) and the Scalable Wealth robo-advisor. This comparison focuses on the broker.

Fee comparison: where your money actually goes

Fees are the most tangible differentiator between brokers. Even small fee differences compound significantly over years of investing.

Trading fees

PRIME+ subscription cost: EUR 4.99/month (billed annually at EUR 59.88) or EUR 6.99 monthly.

The real calculation: If you make fewer than five trades per month, the FREE plan at Scalable (EUR 0.99/trade) is cheaper than paying for PRIME+. If you trade more frequently or invest larger amounts, PRIME+ eliminates per-trade costs for orders above EUR 250.

Trade Republic's EUR 1 flat fee is simple and predictable. For buy-and-hold investors making a few trades per month, the cost difference is negligible.

Savings plans are free on both platforms. This is the most important fee for long-term investors, and both brokers have correctly identified it as the feature where zero cost matters most.

Spread and execution quality

This is where things get less transparent. Both brokers route orders through specific exchanges:

• Trade Republic routes through LS Exchange (Lang & Schwarz).
• Scalable Capital routes primarily through gettex (Bayerische Börse), with Xetra available for an additional EUR 3.99 per trade.

For liquid ETFs and large-cap stocks during market hours, spreads on both exchanges are competitive with Xetra. Outside market hours or for less liquid instruments, spreads widen — sometimes significantly.

Key insight: The EUR 1 you "save" on commission can easily be lost in a wider spread on illiquid instruments. For large orders (above EUR 5,000), consider using Scalable's Xetra option or placing limit orders.

Hidden costs to watch

• FX fees: Both brokers charge around 0.25% for currency conversion when buying non-EUR-denominated assets. Trade Republic may settle some trades in the listing currency.
• Withdrawal fees: Both are free for standard withdrawals.
• Inactivity fees: Neither charges inactivity fees.
• Account closure: Free on both platforms.

ETF savings plans: the core feature

For most European investors, the ETF savings plan is the single most important feature. Here is how they compare.

Available ETFs

Trade Republic advantage: Weekly and bi-weekly intervals give more granular control over timing. The higher maximum (EUR 10,000/month) accommodates high-income investors making aggressive contributions.

Scalable Capital advantage: Slightly larger ETF universe and, in practical terms, access to every major ETF a European investor would want. The difference in ETF availability is marginal for most investors.

ETF providers and selection

Both platforms offer ETFs from all major providers: iShares (BlackRock), Vanguard, Xtrackers (DWS), Amundi, SPDR, Invesco, and more. The core ETFs that most investors care about — VWCE, EUNL, SXR8, VGWL — are available on both.

Scalable has a slight edge in niche ETFs and thematic products, but if you are building a simple globally diversified portfolio, both platforms have everything you need.

Interest on cash: the savings account alternative

Both brokers now offer interest on uninvested cash, turning your brokerage account into a partial bank account replacement.

Current rates (April 2026)

Rates are as of April 2026 and are subject to change with ECB rate decisions.

Trade Republic advantage: Interest is available to all customers regardless of plan. The full banking licence means your cash is held directly by Trade Republic, not a partner bank. And the IBAN means you can use it as your primary bank account if you choose — receiving salary, setting up direct debits, and paying with the Visa debit card.

Scalable Capital limitation: Cash interest is only available on the PRIME+ plan (EUR 4.99/month). On the FREE plan, uninvested cash earns nothing. This means you are paying about EUR 60/year for the privilege of earning interest — which only makes sense if your balance is high enough that the interest exceeds the subscription cost.

Break-even calculation: At 2.5% interest, you need approximately EUR 2,400 in uninvested cash just to break even on the PRIME+ subscription cost from interest alone. The subscription makes more sense when combined with free trading.

Fractional shares

Fractional shares let you invest exact euro amounts rather than needing to buy whole shares. This is particularly useful for expensive stocks like ASML (around EUR 700/share) or Berkshire Hathaway.

Trade Republic advantage: Fractional shares are available for both savings plans and manual one-time purchases. This is a meaningful difference if you want to invest, say, exactly EUR 500 in a specific stock right now.

Scalable Capital limitation: Fractional shares are only available through savings plans. If you want to make a one-time investment, you must buy whole shares.

Crypto trading

Crypto is where these two platforms diverge most significantly.

Trade Republic

Trade Republic offers direct crypto trading within the same app you use for stocks and ETFs. Available cryptocurrencies include Bitcoin, Ethereum, Solana, and about 50 others. Crypto assets are held in custody by BitGo, a regulated crypto custodian.

Key features:

• Buy and sell crypto 24/7
• EUR 1 flat trading fee plus spread (typically 1-2%)
• Crypto savings plans available (from EUR 1)
• No withdrawal to external wallets (as of April 2026)
• Crypto holdings visible alongside stocks and ETFs in your portfolio

Limitation: You cannot transfer crypto to your own wallet. Trade Republic holds your crypto in custody, which means you do not have true ownership of the private keys. For investors who just want price exposure, this is fine. For crypto enthusiasts who want self-custody, it is a deal-breaker.

Scalable Capital

Scalable Capital does not offer direct crypto trading through the broker. However, you can buy crypto ETPs (Exchange-Traded Products) like CoinShares or 21Shares products, which give you price exposure to cryptocurrencies through traditional securities infrastructure.

Crypto ETPs vs. direct crypto:

• ETPs trade during exchange hours only (not 24/7)
• ETPs have management fees (typically 0.5-1.5% annually)
• ETPs are held in your regular securities account
• No spread beyond the normal bid-ask spread of the ETP
• Available in savings plans

For investors who want Bitcoin or Ethereum exposure within a regulated securities framework, crypto ETPs on Scalable work well. For those who want to trade a wider range of crypto assets or trade outside market hours, Trade Republic is the better choice.

User experience and app design

Both platforms are mobile-first, but they take different design approaches.

Trade Republic

Trade Republic is app-only — there is no desktop web interface (as of early 2026, a web version is in beta). The app is minimalist, fast, and opinionated. Navigation is straightforward: portfolio, search, savings plans, card, and cash.

Strengths: Extremely fast execution, clean savings plan setup, one of the smoothest onboarding experiences of any financial app in Europe.

Weaknesses: Limited analytical tools, no advanced charting, no desktop experience for those who prefer a larger screen. The minimalism that makes it easy for beginners can feel limiting for more active investors.

Scalable Capital

Scalable Capital offers both a mobile app and a full desktop web interface. The desktop experience is significantly more capable than Trade Republic's mobile-only approach, with better portfolio analytics, more detailed order options, and a more comprehensive search and filtering system.

Strengths: Desktop web interface, more detailed portfolio views, price alerts, better search and filtering.

Weaknesses: Slightly more complex onboarding, the two-tier pricing model (FREE vs. PRIME+) adds decision complexity. The app, while good, is not quite as polished as Trade Republic's.

Tax reporting

Both platforms are German-based and handle German tax reporting well. For German tax residents, both generate an annual tax report (Jahressteuerbescheinigung) and automatically withhold Kapitalertragsteuer (25% + solidarity surcharge + church tax if applicable).

For non-German EU residents, the situation is more nuanced:

• Both provide transaction reports that you can use for tax filing in your country.
• Neither automatically withholds taxes for non-German residents (you handle this yourself).
• Both report to your country's tax authority under the EU's automatic exchange of information (CRS/DAC).

Tip: Regardless of which broker you use, tracking your investments in a separate portfolio tool is valuable for tax preparation. Freenance connects to both Trade Republic and Scalable Capital (and other brokers), giving you a unified view of your portfolio with performance data that makes tax reporting straightforward.

Safety and regulation

Both platforms are safe for European investors. Your securities (stocks, ETFs, bonds) are segregated from the broker's assets and would be returned to you even if the broker went bankrupt. Cash deposits are protected up to EUR 100,000 under the EU deposit guarantee scheme.

Trade Republic's full banking licence is a meaningful differentiator — it means your cash is held directly by a licenced bank, not passed through to a partner institution.

Who should choose Trade Republic?

Trade Republic is the better choice if you:

• Want simplicity. One app for investing, savings, banking, and crypto. No plan tiers to worry about.
• Value the banking features. The IBAN, Visa debit card, and direct debits make Trade Republic a viable primary bank account.
• Want crypto in the same app. Direct crypto trading alongside stocks and ETFs is convenient.
• Prefer mobile-only. If you do all your investing on your phone, Trade Republic's app is best-in-class.
• Make infrequent trades. The flat EUR 1 fee is simple and fair for occasional trading.
• Want fractional shares for one-time investments. Being able to invest exact amounts in any stock or ETF at any time is a genuine advantage.

Who should choose Scalable Capital?

Scalable Capital is the better choice if you:

• Want a desktop experience. The web interface is significantly better for research, analysis, and managing a complex portfolio.
• Trade frequently. If you make more than five trades per month, PRIME+ at EUR 4.99/month eliminates per-trade fees (for orders above EUR 250).
• Want Xetra access. For large orders or less liquid instruments, routing through Xetra can save money on spreads.
• Prefer a traditional broker model. Scalable focuses on being an excellent broker, not a bank replacement.
• Want a robo-advisor option. Scalable Wealth offers a managed portfolio option for hands-off investors — Trade Republic has no equivalent.

The portfolio tracking angle

Here is the thing neither broker tells you: if you have accounts at both (or at either one plus other investments), you need a way to see everything together.

Many investors end up with investments spread across multiple platforms — maybe Trade Republic for savings plans, an older account at a traditional broker, a pension fund through work, and some crypto on an exchange. Each platform shows you only its own slice.

Freenance solves this by aggregating your holdings from Trade Republic, Scalable Capital, and other investment accounts into a single dashboard. You see your total net worth, asset allocation, and performance across everything — not just what one broker shows you. This unified view is especially valuable for tax reporting, rebalancing decisions, and simply understanding your actual financial position.

Direct comparison table: the summary

FAQ

Which broker is better, Trade Republic or Scalable Capital?

Neither is universally better — it depends on your investing style. Trade Republic is the stronger all-in-one package for typical long-term investors thanks to its banking features, universal cash interest, and broader availability across 17 EU countries. Scalable Capital suits more engaged investors who want a full desktop interface, frequent trading, Xetra access, or a robo-advisor option.

How do the fees compare?

Trade Republic charges a flat EUR 1 per trade. Scalable Capital's FREE plan costs EUR 0.99 per trade, while its PRIME+ plan (EUR 4.99/month, billed annually at EUR 59.88) makes trades over EUR 250 free. If you make fewer than five trades per month, Scalable's FREE plan is cheaper than paying for PRIME+; frequent or large traders benefit more from PRIME+.

Are ETF savings plans free on both?

Yes, ETF savings plan execution is free on both platforms, which matters most for long-term investors. Trade Republic offers around 2,200 ETFs as savings plans with weekly, bi-weekly, monthly, or quarterly intervals and a EUR 10,000/month maximum. Scalable Capital offers around 2,500 ETFs with monthly, bi-monthly, or quarterly intervals and a EUR 5,000/month maximum per plan.

Which broker is better for beginners?

For beginners doing all their investing on a phone, Trade Republic's app-only experience is best-in-class, with one of the smoothest onboarding flows in Europe and no plan tiers to choose between. Scalable Capital has a slightly more complex onboarding and a two-tier FREE/PRIME+ pricing model that adds decision complexity. Both are safe, BaFin-regulated, and low-cost.

Which one offers crypto and cash interest?

Trade Republic offers direct crypto trading (Bitcoin, Ethereum, Solana, and about 50 others) inside the same app, plus 2.75% interest on cash for all users up to EUR 50,000. Scalable Capital does not offer direct crypto — only crypto ETPs — and pays 2.5% interest only on the PRIME+ plan, up to EUR 100,000. Trade Republic also holds a full German banking licence with an IBAN.

The verdict

There is no universally "better" broker here. The right choice depends on your investing style and what you value.

For the typical European long-term investor who sets up monthly ETF savings plans, makes occasional manual trades, and wants the simplest possible experience — Trade Republic is the better overall package in 2026. The banking features, universal cash interest, fractional shares, and broader European availability give it an edge as an all-in-one platform.

For the more engaged investor who trades more actively, values desktop tools, wants Xetra access for large orders, or appreciates the robo-advisor option — Scalable Capital offers more flexibility and analytical depth.

Both are excellent platforms. Both are safe, well-regulated, and low-cost. Picking either one and consistently investing is far more important than optimising the choice between them.

What matters more than which broker you use is that you actually invest regularly, keep your costs low, stay diversified, and track your overall financial position. The broker is just a tool — your strategy and discipline are what determine your outcomes.

This comparison reflects publicly available information as of April 2026. Fees, features, and availability may change. This article is for informational purposes only and does not constitute investment advice. Always verify current terms on each platform's official website before opening an account.