Broker
Find answers to the most frequently asked questions about Scalable Broker
Wealth
Here you will find answers to the most frequently asked questions about Scalable Wealth.
As a broker and/or wealth management client you can recommend both products to your friend(s) and receive a reward.
For a successful recommendation of our wealth management product you will receive 50 Euro, and for a successful recommendation of the broker you will receive 25 Euro as a thank you.
You will find the invitation link for the Refer-a-Friend program directly in your Scalable profile, after login in the app and on the web. You can share it with your friends via email, SMS, WhatsApp, or other messenger services.
First, share the invitation link with your friends.
After the referred person has successfully opened a brokerage account based on your link and has made one or more purchase orders or savings plans executed with a total volume traded of €25 or more, you will receive your bonus. The referred person needs to remain a client, with a positive cash balance, of the corresponding brokerage securities account, for 6 months after successful opening.
The bonus will be paid to your clearing account in the following month after the referred person has made a one-off purchase or started a savings plan.
You are entitled to receive a maximum of 10 rewards of 25 Euro (recommendation of the broker) or 50 Euro (recommendation of the wealth management product) each as a thank you, while the number of recommendations is unlimited.
The reward may be withheld in the event of attempted manipulation of the referral program such as broadcasting/distributing on public/private mediums (e.g. public websites, telegram etc).
You need to ensure that your friends agree to receive the referral invitation.
If the referred person does not remain a client of the corresponding brokerage securities account for 6 months after the successful opening or does not complete the required trades in the form of savings plan executions or purchase orders within 6 months after the successful opening of a brokerage securities account, the reward entitlement shall lapse.
Data protection is very important to us. We use modern IT infrastructure to ensure the security of your data. Your personal data (e.g. address, account data, financial circumstances) is transmitted in the course of registration as well as contract conclusion, and your data is always encrypted and stored in a data center in Germany.
Please refer to our privacy policy in this context.
To change your personal data, such as your address, reference account or phone number, please log in to your personal customer area via our website or app.
You can change your data under "Profile". Please activate two-factor authentication in the Scalable Capital app before making any changes.
As an ING customer, please contact our customer service by email at service@scalable.capital.
In accordance with Art. 15 GDPR, you can request a copy of the personal data processed about you. To do so, please log into your personal customer area on our website and go to "Profile". Under the "Personal Information" section, you can request your data at any time. Confirm your request via two-factor authentication (2FA) in the Scalable Capital app. Please note that access is only available via the web browser. It is not possible to make a request via iOS or Android app.
The scope as well as the manner of processing your personal data depends on which of our offers you use. For example, if you have only subscribed to a newsletter from us, the processing of your personal data is different than if you are a customer of our wealth management or brokerage offering. For more information, please also refer to our privacy policy.
Scalable Capital is an independent securities institution with the regulatory permission of the German Federal Financial Supervisory Authority (BaFin) to provide securities services pursuant to section 15 WpIG. Scalable Capital offers in particular the service of contract brokerage ("brokerage"). We are subject to supervision by the German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht) and the German Federal Bank (Deutsche Bundesbank).
BlackRock (Netherlands) B.V. is (indirectly) a minority shareholder in the parent company of the securities institution. In the context of asset management, Scalable Capital makes the selection of ETFs for the investment universe as an operational decision exclusively on the basis of objective criteria aligned with customer interests. There are therefore no economic incentives to favour certain ETFs, whether from BlackRock. or another provider.
How secure are my money and my investments? What happens in the event that Scalable Capital or your partner bank becomes insolvent?
Call money: In the event of the insolvency of the partner bank, the cash in your clearing account is protected by the statutory deposit protection of the EdB up to a deposit amount of 100,000 euros (cf. details on this at edb-banken.de/en) and beyond that by the Deposit Protection Fund of Private Banks (BdB). View further information on the scope of protection of the partner bank by the Deposit Protection Fund.
Securities: In the event of insolvency of the custodian bank, you have a claim to surrender of your securities. These do not fall into the insolvency estate and are therefore also protected.
As a securities institution, Scalable Capital is not authorised to take possession or ownership of clients' assets. The clients' assets are held in custody by our partner bank. In the event of an insolvency of Scalable Capital, the client assets will therefore not fall into the insolvency estate of Scalable Capital GmbH.
Furthermore, Scalable Capital GmbH is assigned to the Compensatory Fund of Securities Trading Companies (EdW). The EdW can pay compensation if an institution is no longer able to fulfil its "liabilities from securities transactions" towards its customers for reasons directly related to its financial situation (and BaFin has determined the case for compensation).
At Scalable we want to ensure that your account is protected against any type of attack. Therefore, the Scalable Login utilises leading edge technology to scan the Web and track large security breaches that occur on third-party sites (unrelated to Scalable).
For security reasons, we conduct the login process to your personal customer area via web browser. This guarantees a higher security standard when logging in and reduces the risk of falling victim to a phishing or fraud attempt.
The login to your Scalable client area is always done via a secure subdomain. Customers with a custody account at Baader Bank use secure.scalable.capital/login, customers with a custody account at ING can log in via ing-secure.scalable.capital/login.
If you have made sure that the combination of your e-mail address and password is correct, but you are still unable to log in, please check if you are using the correct login form for your custodian bank. For technical reasons, we use separate entry forms for customers with clearing accounts at Baader Bank and ING Bank.
To switch between the login forms, click either "To ING login?" or "Not an ING customer?" on the login page. In the app, you have the option to enable or disable the ING login before opening the login page.
If your account does not hold any active portfolios, we will block it after a few months of inactivity for security reasons. A blocked account can be manually unlocked by our customer service. In this case or in case of technical problems, please contact our customer service at service@scalable.capital.
Due to security reasons, we offer separate login forms for each custodian bank. This means you have to select the custodian bank for your account in the login process in order to successfully login. For customers with accounts at both Baader Bank and ING Bank, it is therefore necessary to log out and log in again using the login form of the other bank.
The function of switching between your Baader Bank and ING accounts within your personal customer area can therefore no longer be offered.
To change your password, click on "Forgot your password?" under the input mask on the login page or on "Reset" in the Scalable customer area in the menu item "Profile" in the section "Password".
After entering your email address, you will receive an email from us with a link to change your password.
Please note that in addition to the minimum requirements for the strength of your password, a maximum length of approx. 70 characters should not be exceeded. In case of a longer password, it will only be saved up to the maximum length mentioned above.
Two-factor authentication involves using two separate factors to verify access to your account. The first factor is your username and password. The second factor is something that only you have access to, for example, your smartphone. As a result, an unauthorized person without the authorized smartphone will not be able to access your account or make sensitive changes even if they should be able to guess your username and password.
Therefore, we recommend using 2FA. It can be easily set up in your Scalable Capital app in just a few steps. Currently, sensitive changes in the app (such as changing the reference account) and now (as part of the beta) login can already be protected using 2FA.
Activation
Log in to your Scalable Capital account in our app. Go to "Profile" and then select "Two-factor authentication" in the menu. During the activation process, you will receive an email with an activation link that you will need to confirm on the mobile device that you want to link.
Deactivation
Log in to your Scalable Capital account in our app. Go to "Profile" and then select "Two-factor authentication" in the menu. Select the option to disable two-factor authentication. You may reenable two-factor authentication in the same way again at any time.
As part of the activation process, you will receive a backup code. Keep this in a safe place that is only accessible to you. You may need the backup code in case you change or lose your smartphone.
Deactivation with backup code
Log in to the Scalable app.
Select "Profile", "Two-factor authentication" and "Disable".
Select "No access to linked device?" and then enter your backup code.
If you have enabled 2FA for login, select "No access to linked device?" when you log in, and then enter your backup code.
If you do not have your linked device or backup code, please contact our customer service at service@scalable.capital.
Restore device shortcut from iCloud backup
On iOS devices, you have the option to restore a device shortcut from an iCloud backup. For this, you will have to enable the "iCloud Backup" feature as well as "iCloud Keychain" on your linked device beforehand, as well as perform a device backup including the Scalable App. Please note that the backup needs to be done after enabling two-factor authentication in the Scalable App. If you restore a new device from this backup afterwards, you will have the option to register the new device as your linked device. To do this, navigate to "Profile", "Two-Factor Authentication" and "Restore Linked Device" on the restored device in the Scalable App. Please note that only one device can be linked per account at a time, so the previously linked device will be removed during this process.
This iOS feature is available on all devices that support iCloud Backup and iCloud Keychain. This affects iPhones, iPads, and iPod Touch devices running iOS 11 or later.
Note: We are working on making this feature available on Android as well.
Disable two-factor authentication with backup code
Alternatively, you can disable two-factor authentication with the backup code you received during activation.
To do this, navigate to "Profile", "Two-factor authentication" and "Disable" in the Scalable app. Select "I do not have access to my linked device" and then enter your backup code.
If you have 2FA enabled for login, select "No access to linked device?" when logging in and then enter your backup code.
If you do not have a backup of your iOS device or your backup code, please contact our customer service at service@scalable.capital.
If you have not enabled 2FA for login, you can transfer a device shortcut to a new device on iOS devices using the "Quick Start" feature.
To do so, select it the first time you start your new iOS device and automatically transfer settings and apps, including the Scalable app, from your previously linked device to the new device. Then open the Scalable app on your newly set up iOS device and navigate to "Profile", "Two-factor authentication" and "Restore linked device". Please note that only one device can be linked per account at a time, so the previously linked device will be removed during this process.
This feature is also available if you want to reinstall the Scalable app on your iOS device and then restore the device link.
Note: We are working on making this feature available on Android as well.
If you do not receive a 2FA request via push message on your cell phone, please check in your app settings if you have allowed notifications for Scalable Capital. Even with push notifications disabled, you should receive an active 2FA request when you open the app manually. If this is not the case, you can try closing the app completely and then restarting it. After that, you should see the active 2FA request.
Furthermore, you can try disabling 2FA via backup code and then re-enabling 2FA.
Please also check if you are using DNS filters, as they may affect the functionality of the feature.
If you do not receive a 2FA request on your phone despite the steps described above, please contact our customer service at service@scalable.capital.
If you are not sure who made a 2FA request for your account, always reject it. Furthermore, we advise you to change your password as soon as possible:
Navigate to "Profile" and request a link to change your password under "Change Password". You will then receive an email with further steps to change your password.
Alternatively, you can select the "Forgot your password?" option on the login page.
Enable 2FA (see "How do I enable or disable two-factor authentication (2FA)"). Afterwards, your login is automatically protected by 2FA.
If you have already activated 2FA, you can select the option to protect your login via 2FA under "Profile" and "Two-factor authentication".
Complaint
We take complaints seriously as each and every one of our clients are important to us. We believe you have a right to a fair, swift and courteous service at all times. We are a regulated entity, we treat our clients fairly and adhere to the regulations on transparency and protections related to financial services.
A complaint is any expression of dissatisfaction made by a client or potential client (complainant) to an investment services firm in connection with the latter's provision of an investment service or ancillary investment service. The term "complaint" does not necessarily have to be used. A complaint does not require a specific form.
Complaints can be made free of charge orally, in writing or electronically to the address below or to our other contact details, which can be accessed under https://de.scalable.capital/kontaktdaten in German and under https://de.scalable.capital/en/contact-details in English in their most current version.
Scalable Capital GmbH
Seitzstr. 8e,
80538 Munich,
Germany
Scalable Capital has established a complaints management function that is responsible for investigating complaints. This is the compliance department. You can reach it as follows:
Scalable Capital GmbH
Compliance Department
Seitzstr. 8e,
80538 Munich,
Germany
Please also see the “Complaints and disputes” section of our client documentation.
After the (potential) client has submitted the complaint, the complaint will be transferred to the client relationship management system (CRM).
The content of the complaint will be assessed (this may also include questions to the client), it will be determined whether the client's dissatisfaction is justified as regards its substance and, if necessary, a proposal for a solution will be developed. This is followed by consultation with a superior. Depending on the type, content and scope of the complaint, it may be necessary to involve the complaint management function at an early stage. Finally, feedback is provided to the (potential) client, in which Scalable Capital communicates its position regarding the complaint. The processing period between the submission of a complaint and the provision of feedback should normally not exceed five (5) business days. If no response can be provided within this period, Scalable Capital will inform the complainant of the reasons for the delay and the expected processing time.
If the client is not satisfied with our final feedback then they may contact the arbitration board of the Association of Independent Asset Managers Germany. The arbitration board of the Association of Independent Asset Managers Germany is responsible for any monetary disputes arising from or in connection with financial services contracts: VuV Ombudsman's Office, Stresemannallee 30, 60596 Frankfurt am Main, Germany, http://vuv-ombudsstelle.de/. Scalable Capital is a member of the Association of Independent Asset Managers Germany and is obliged under the latter's articles of association to participate in dispute resolution proceedings of the VuV Ombudsman's Office. The (potential) client therefore has the option of referring a complaint or other dispute to the VuV Ombudsman's Office.
Scalable Capital is not affiliated with any other recognised private consumer arbitration board.
The European Commission provides a platform for online dispute resolution for consumers who reside in the EU (in accordance with Article 14 (1) of the ODR Regulation) at http://ec.europa.eu/consumers/odr/. Scalable Capital does not participate in the online dispute resolution.
Irrespective of the option of appealing to the VuV Ombudsman’s Office, the (potential) client is free to file a civil action at their discretion.
In addition, clients may contact the complaints body of the national competent supervisory authority which may also provide for an arbitration procedure:
France: Autorité des marchés financiers – AMF
Italy: Commissione Nazionale per le Società e la Borsa – CONSOB
The Netherlands: Autoriteit Financiële Markten – AFM
Spain: Comisión Nacional del Mercado de Valores – CNMV
Austria: Finanzmarktaufsichtsbehörde – FMA.
With an exemption order, you instruct your bank to exempt accruing investment income from automatic tax deduction. Without this order, the bank will pay 25% capital gains tax as well as 5.5% solidarity surcharge and, if applicable, church tax to the tax office.
From 2023, the statutory maximum limits for an exemption order of an individual will be increased to 1.000 euros and 2.000 euros for joint exemption order of a married couple or registered partner.
To set up or change an exemption order, please log into your personal customer area on our website and open the "Profile" menu item. In the "Taxes" section, you can set up or change your exemption order.
The exemption order applies at bank level. So, for example, if you have asset management with us with custody account management at Baader Bank, the exemption order set up for this also applies to the Scalable Broker.
Please submit your exemption order before the end of the current year. Exemption orders are always valid from 1 January of the current year or from the beginning of the business relationship.
To see how much of your tax allowance has already been used, please log into your Scalable Capital account on our app or online and go to "Profile." In the "Taxes" section you can find all relevant information.
If an exemption order is set up retrospectively, taxes already paid (capital gains tax, solidarity surcharge and church tax, if applicable) will be refunded. Please note that the exemption order must still be set up in the current calendar year.
At the turn of the year from 2022 to 2023, the custodian bank, Baader Bank, will automatically increase all deposited exemption orders of Scalable clients by 24.844%. This change will, for example, increase exemption orders in the amount of 801 euros for individuals to 1,000 euros.
The decimal places of the exemption order will be rounded up by 24.844% after rounding. Thus, an exemption order of 500 euros is changed to 625 euros instead of 624.24 euros.
As soon as the modified exemption order is deposited in your securities account on 2 January, you can initiate a change to the exemption order in the customer area of your Scalable account.
If you are liable to pay tax in Germany, you will receive an annual tax certificate for your securities account and your clearing account, on condition that you have carried out tax-relevant transactions in the year.
This will usually be provided to you electronically for the respective past year by the end of April of the following year. You will find it in the mailbox of your Scalable client area.
As a Wealth client with securities account management via ING, you will receive your annual tax certificate by the end of April in your mailbox in ING's internet banking.
To apply for a loss statement for an existing securities account, please complete the form "Application for the issue of a loss statement" in the Baader Bank form center. Please send the completed form directly to Baader Bank.
Please note that the application must be received by 15 December of the current year in order for the loss certificate to be issued.
For a securities account that has already been closed, a possible loss statement will be provided to you automatically in the spring of the following year.
The final withholding tax on investment income (capital gains tax, solidarity tax, and, where applicable, church tax) is paid on a transaction-by-transaction basis. The respective levies are withheld by the custodian bank after each sale, taking into account tax allowance and loss pots where applicable, and forwarded to the tax office.
This only applies to customers subject to taxation in Germany. Customers who have a tax residence outside of Germany are obliged to determine and pay the applicable taxes themselves. Please note that Scalable Capital can not provide tax advice in this regard. If you have any questions regarding your individual tax situation, please contact your tax advisor or your tax office.
You can find the amount of withholding tax paid by you in your personal customer area. To do this, please log into your Scalable Capital account on our website, open the menu item "Profile" and click on "Taxes".
Please note that crypto ETPs classified according to §23 are not subject to capital gains tax. You can find more information on this below under "How are crypto ETPs treated for tax purposes?".
After your registration, Baader Bank automatically queries your church tax status at the Federal Central Tax Office (Bundeszentralamt für Steuern). If you are liable to pay church tax, the church tax will be paid directly to the tax office together with the capital gains tax and the solidarity tax on a transaction basis.
Please note that Baader Bank only checks your church tax status once a year in September for the following year. If your religious affiliation changes after this date, the change cannot be made during the year. The change will not be made until the next check in the following tax year. However, you can claim back any excess church taxes that have been paid when you file for your tax return. Please contact your tax advisor for this.
You can find the amount of church tax paid by you in your personal customer area. To do this, please log into your Scalable Capital account on our website, open the menu item "Profile" and click on "Taxes".
Broker: The advance fee is debited by the custodian bank at the beginning of the year. The debit will be made from your clearing account. Please ensure that there are sufficient funds in your account. If the booking of an advance fee results in a negative balance, the custodian bank may charge interest of 6.00% p.a. in accordance with the "List of Prices and Services" (p. 65).
Wealth management: The advance fee is debited by the custodian bank at the beginning of the year. The debit will be made from your clearing account. We will ensure that there are sufficient funds for you. You do not have to worry about anything in this regard.
There are risks associated with investing. The value of your investment may fall or rise. Losses of the capital invested may occur. Past performance, simulations or forecasts are not a reliable indicator of future performance. Please refer to our risk information.
12.3% p.a. interest + 1.2% p.a. bonus for 3 months. Up to €100,000. Interest offer by Baader Bank. Variable rate. Bonus by Scalable Capital. Bonus terms and interest conditions. Only with PRIME+.
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INFORMATION
Scalable Capital GmbH
Seitzstraße 8e, 80538 Munich | Legal information
Responsible supervision: BaFin, Deutsche Bundesbank
Copyright © Scalable Capital GmbH | All rights reserved.
