Scalable Capital lowers fees for stock, ETF and crypto savings plans
All savings plans for stocks, ETFs and cryptocurrencies are now free of order fees as competition in the digital wealth market heats up.
Neo broker and digital wealth manager Scalable Capital has shaken up its stocks, ETFs and cryptocurrency saving plans, lowering fees and reducing minimum investment amounts to €1.
Scalable started off with a robo advice-style offering only when it launched in 2014, with relatively high minimum account sizes of €10,000. But, in the past few years, it has pivoted its business to include neo-broking services as well as white label solutions for the likes of ING,Barclays Bank, Siemens Private Finance, the digital subsidiary of the Santander Group, Openbank, Oskar GmbH, and Targobank.
At the same time competition has continued to heat up in the digital wealth space. Buoyed by the crypto boom and swelling of the private investor market, customers numbers - as well as the valuations of fintechs digitising investing and savings services, have soared.
"No barriers to investing remain. Saving money starting from €1, no order fees and high flexibility – regular saving via capital markets has never been so easy. With us, any amount can be set aside for retirement or a trip around the world after graduation. Over time, very small amounts can become tidy sums," says Erik Podzuweit, co-founder and co-CEO of Scalable Capital.
"Building up one's wealth until retirement requires discipline. We open an easy route to capital markets for everyone and ensure that your earned money is not eroded by inflation. Anyone thinking about investing should think about Scalable Capital."
Its customers now have the option to choose four execution dates per month to align with the inflow of salary, pension or student grants.
There are two main plans to choose from. A ‘free’ option whereby with no order or custody fees but each additional trade costs €0.99 Euros. It also offers a "Prime Broker" option with an unlimited number of trades in stocks, ETFs, cryptocurrencies, funds and derivatives for a monthly flat rate of €2.99.