Scalable Capital, a digital wealth manager based in Munich, has launched Flat-Rate Brokerage Service in Germany which lets customers trade shares, ETFs and funds on the platform with a pricing model that includes a real flat rate for trading securities. The “Prime Broker” option allows users to trade shares and ETFs or invest in ETFs with a savings plan for 2.99 Euros per month without any restrictions and no additional fees.
Erik Podzuweit, co-founder and CEO of Scalable Capital, said: “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 democratizing investing.
Scalable Capital’s broker platform is available to clients in both the iOS/Android app and on the web. Florian Prucker, co-founder and managing director, commented: “Trading has to be simple. 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.”
Processing is carried out via the electronic trading platform gettex of the Munich Stock Exchange and Baader Bank serves as the custodian bank. Offering 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.
The “Prime Broker flex” option provides the same services as with the “Prime Broker” but the payment amount is charged on a monthly basis. The service costs 4.99 Euros per month.
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.