FAQ

Find answers to the most frequently asked questions
about Scalable Capital.

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.

General

Personal Data

How secure is my personal data?
 

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.

How can I change my personal data?
 

In order to change your password, click on "Forgot password?" under the entry mask on the login page of our homepage. In the Scalable App, this change can be made under "Profile" in the section "Password" by clicking on "Request link to change". After entering your e-mail address, you will receive a link via e-mail from us to change your password.

To change your personal data, 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 via e-mail at service@scalable.capital.

How can I cancel with Scalable Capital?
 

You can cancel or change your existing products online or via the Scalable Capital app under "Profile" and "Products".

After your cancellation, you can still log into your personal area and retrieve documents in your mailbox. There you will receive important documents, such as your annual tax certificate. You can access these documents in your mailbox until the applicable retention periods expire. However, if necessary, access to your personal area can also be deactivated. To do so, please send us an e-mail.

How can I download a copy of my personal data?
 

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.

Complaint

How do I make a 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 contact details listed below.

Scalable Capital GmbH
Seitzstr. 8e,
80538 Munich,
Germany

Email
Germany & Austria: service@scalable.capital (for clients resident in Germany, Austria and all residences not explicitly mentioned hereafter)
France: support-fr@scalable.capital (for clients resident in France)
Italy: support-it@scalable.capital (for clients resident in Italy)
Spain: support-es@scalable.capital (for clients resident in Spain)

Phone
Germany: +49 (0) 89 / 380 380 67 (for clients resident in Germany and all residences not explicitly mentioned hereafter)
Austria: +43 720 / 882033 (for clients resident in Austria)
France: +49 (0)89 / 215 292 790 (for clients resident in France)
Italy: +49 (0)89 / 215 292 740 (for clients resident in Italy)
Spain: +34 91 / 949 711 3 (for clients resident in Spain)

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 documents.

Scalable Capital Complaints Procedure
 
  1. After the (potential) client has submitted the complaint, the complaint will be transferred to the client relationship management system (CRM).


  2. 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.


  3. If the client is not satisfied with our final feedback then they may contact the following relevant third parties:


a) 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.

b) France: clients resident in France may contact the mediator (Médiateur) of the Autorité des Marchés Financiers (AMF) at the following address: Mme le Médiateur de l’AMF, Autorité des marchés financiers, 17 place de la Bourse, 75082 PARIS CEDEX 02, France.

c) Spain: clients resident in Spain may contact the CNMV’s Complaints Service (Servicio de Reclamaciones) at the following address: Edison, 4, 28006 Madrid, Spain.

d) Austria: clients resident in Austria may also contact the Joint Conciliation Board of the Austrian banking industry (Gemeinsame Schlichtungsstelle der Österreichischen Kreditwirtschaft) at the following address: Wiedner Hauptstr. 63, A-1045 Wien, Austria.

e) Europe: 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.

  1. Irrespective of the option of appealing to these arbitration boards, the (potential) client is free to file a civil action at their discretion.

Referral Program

Can I recommend the broker and/or the wealth management as part of a referral program?
 

Yes. As a broker and/or wealth management customer 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.

What is the Scalable Capital referral program?
 

If you are satisfied with our products, you have the opportunity to recommend to your friends via our app or website. As a thank you, you will receive a bonus of up to 50 Euro per successful recommendation.

For a successful recommendation of our wealth management product, you will receive 50 Euro. For the successful recommendation of the broker, you will receive 25 Euro.

How can I invite my friends?
 

Click on "Invite" in our app or online by logging in to your Scalable Capital account. There you will see your individual invitation link that you can share with your friends via email, SMS, WhatsApp, or other messenger services.

How and when will I receive my reward?
 

First, share the invitation link with your friends. After a friend has successfully opened a wealth management portfolio or brokerage account based on your link, you will receive your bonus. The bonus will be paid out in the following month after your friend's new wealth management portfolio or brokerage account has been successfully created.

The bonus will be paid to your clearing account.

Can I receive multiple rewards?
 

Yes. You will be credited with 50 euros or 25 euros for each friend who successfully opens an account based on your link.

For a successful recommendation of our wealth management product, you will receive 50 euros. For the successful recommendation of the broker, you will receive 25 euros.

Security and Data Protection

Why did the names of the legal entities Scalable Capital Vermögensverwaltung GmbH or Scalable Capital GmbH change?
 

As of 12th November 2021, Scalable Capital Vermögensverwaltung GmbH operates under the name Scalable Capital GmbH. Address, VAT number and registration number remain unchanged.

In addition, Scalable Capital GmbH operates under the name of Scalable GmbH as of 10th November 2021. Address and VAT registration number remain unchanged.

The background of these name changes lies partly in the totality of our services. In addition to wealth management, the Scalable Broker is also one of our products and services offered - this is to be represented by a general company name. Furthermore, due to our upcoming expansion into the Italian, French and Spanish markets we would like to keep our company name internationally understandable.

Is Scalable Capital an independent and regulated company?
 

Scalable Capital is an independent wealth manager, acting in the best interest of its clients. We are a investment services institution with the regulatory permission of the German Federal Financial Supervisory Authority (BaFin) for financial portfolio management (also called "wealth management") according to § 15 German Securities Institutions Act (WpIG). We are subject to the supervision of the German Federal Financial Supervisory Authority and the Deutsche Bundesbank.

BlackRock, Inc. is (indirectly) a minority shareholder of the wealth manager's parent company. The wealth manager makes the selection of ETFs for the investment universe as an operational decision solely on the basis of objective criteria aligned with client interests. Thus, there are no economic incentives to favor certain ETFs, whether from BlackRock, Inc. or any other provider.

How secure are my money and my investments? What happens in the event that Scalable Capital or your partner bank becomes insolvent?
 

As a financial services institution, we are not authorized to obtain possession or ownership of the customer's assets. The customer's assets are held in the custody of our partner bank(s). In case of insolvency of Scalable Capital GmbH, the customer's assets contained in the custody account will therefore not fall into the insolvency estate of Scalable Capital GmbH.

In the event of the insolvency of the partner bank, your clearing account is protected by the statutory deposit protection of the Compensation Scheme of German Banks (Entschädigungseinrichtung deutscher Banken) up to a deposit amount of 100,000 euros (see details on this at www.edb-banken.de/en) and beyond that up to a certain amount by the deposit protection fund of the Association of German Banks (Bundesverband deutscher Banken). In addition, there is a claim to surrender of your securities in the portfolio in the event of insolvency of the custodian bank. This last aspect is particularly important for your investment with Scalable Capital GmbH, because your money is predominantly invested in securities with us and thus predominantly does not fall under the topic of deposit protection (like the cash on the clearing account).

As a regulated financial services institution, Scalable Capital GmbH is assigned to the Compensatory Fund of Securities Trading Companies (Entschädigungseinrichtung der Wertpapierhandelsunternehmen; EdW). The EdW provides compensation if an institution is no longer able to fulfill its "liabilities from securities transactions" to its customers for reasons directly related to its financial situation (and BaFin has determined the compensation case). For this compensation, the protection is limited to 90 %, up to a maximum of 20,000 euros per investor. Such a compensation case can only arise in special constellations for a financial services institution without permission to accept possession or ownership of assets of the customer (such as Scalable Capital GmbH); for example, the acceptance of customer funds despite the lack of the corresponding regulatory permission could be considered. Secondary claims (such as damages due to faulty investment) are generally not compensable.

How can I change my password?
 

In order to change your password, click on "Forgot password?" under the entry mask on the login page of our homepage.

In the Scalable App, this change can be made under "Profile" in the section "Password" by clicking on "Request link to change". After entering your e-mail address, you will receive a link via e-mail from us to change your password.

How does two-factor authentication work at Scalable Capital?
 

Besides your password, your Scalable Capital account is additionally protected with your linked device. This keeps attackers out, even if your password is stolen. Your linked device must have the Scalable Capital app installed and two-factor authentication enabled in order for you to benefit from this additional protection.

How do I enable or disable two-factor authentication?
 

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 your Scalable Capital account in our app. Go to "Profile" and then select "Two-factor authentication" in the menu. Select "I don't have access to my linked device", and then enter your backup code.

What happens if I don't have access to my linked device and have also lost my backup code? If you do not have your linked device or your backup code, please contact our customer service.

Why are deposits and withdrawals not protected with two-factor authentication?
 

Deposits and withdrawals are made exclusively via the reference account you have specified. Therefore, changing the reference account is a particularly sensitive process. This is only possible with two-factor authentication.

Why can’t I log in?
 

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.

Why does a browser window open when logging in via the app?
 

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.

How can I switch between my Baader Bank and ING portfolios?
 

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.

Can I access to my account at any time?
 

Yes, absolutely. You have full access to your account at all times. We don’t believe in just sending a monthly or quarterly report. We allow all of our clients to view their investments and how they are performing at any given time either online or in our app. You can sign in to see your portfolio breakdown, your past performance, and your recent transactions as well as all costs incurred.

Turquoise Line

Taxes

Exemption order

What is tax allowance (Freistellungsauftrag)?
 

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. The statutory maximum limits on your tax allowance are 801 Euro for an individual and 1,602 Euro for a married couple / registered partner.

What is the difference between a single and a joint tax allowance?
 

In the case of a joint tax allowance, it is important that you are taxed jointly. The statutory maximum limits on your tax allowance are 801 Euro for an individual and 1,602 Euro for a married couple / registered partner.

How can I set up or change my tax allowance?
 

To set up or change your tax allowance, please log into your Scalable Capital account on our app or online and go to "Profile." In the "Taxes" section, you can set up or change your tax allowance.

The tax allowance applies at bank level. This means that, for example, if you have a wealth management account with us that has custody account management at Baader Bank, the tax allowance that you set up for this also applies to Scalable Broker.

Wie viel kann ich durch einen Freistellungsauftrag maximal sparen?
 

1.602 Euro bzw. 801 Euro sind die Beträge, die bei Freibeträgen steuerfrei realisiert werden können. Bei einem Steuersatz von 27,9951% (unter Berücksichtigung von 9% Kirchensteuer), können somit maximal folgende Beträge gespart werden:

Freistellungsauftrag 801 Euro -> Es kann maximal 224,24 Euro gespart werden.
Freistellungsauftrag 1602 Euro -> Es kann maximal 448,48 Euro gespart werden.

Durch das ausnutzen der Freibeträge wird somit Steuer bis zu maximal 224,24 Euro bzw. 448,48 Euro eingespart.

Ein Beispiel:
Eine Kundin hat einen gemeinschaftliche Freistellungsauftrag in Höhe von 1602 Euro hinterlegt von welchem noch nichts verbraucht wurde. Unter der Annahme, dass Sie 9% Kirchensteuer bezahlen muss, entsteht folgende Rechnung:

1602 * 0,279951 = 448,48 (verbleibender Freibetrag * Steuersatz)

In diesem Beispiel konnte für die Kundin die maximale Steuerersparnis in Höhe von 448,48 Euro realisiert werden.

Kirchensteuer

keine

8 %

9 %

Kapitalertragssteuer

25,0000 %

24,5098 %

24,4499 %

Solidaritätszuschlag

1,3750 %

1,3480 %

1,3447 %

Kirchensteuer

0,0000 %

1,9608 %

2,2005 %

Gesamtbelastung

26,3750 %

27,8186 %

27,9951 %

What are the deadlines for submitting my tax allowance?
 

Please submit your tax allowance before the end of the current year. Tax allowance is always valid from 1 January of the current year or from the beginning of your contract with us.Please submit your tax allowance before the end of the current year. Tax allowance is always valid from 1 January of the current year or from the beginning of your contract with us.

Werden bereits abgeführte Kapitalertragsteuern erstattet, sobald ich einen Freistellungsauftrag einrichte?
 

Bei einer nachträglichen Einrichtung eines Freistellungsauftrages werden bereits abgeführte Steuern (Kapitalertragsteuer, Solidaritätszuschlag und gegebenenfalls Kirchensteuer) rückerstattet. Bitte beachten Sie, dass der Freistellungsauftrag noch im laufenden Kalenderjahr eingerichtet werden muss.

How do I know my tax allowance is already used?
 

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.

How high should I set my tax allowance?
 

Since the tax treatment is individual and strongly depends on your trading behavior, we cannot make any recommendation on this.

Annual Documents

How do I obtain a loss statement?
 

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.

Will I receive a tax certificate at the end of the year?
 

Yes. If you are liable to pay tax in Germany, you will receive an annual tax certificate for your securities account and your clearing account. This will be provided to you electronically in the spring of the following year. You will find it in your mailbox in our app or online by logging in to your Scalable Capital account.

General questions

Are fees taken into account for tax purposes with Scalable Broker?
 

Depending on your tax situation, you may be able to claim Scalable Capital's fees for tax purposes. However, this does not happen automatically. Rather, you can claim expenses incurred as part of your income tax return. Our fees are clearly shown on your account statement and can thus be proven to the tax office, for example. Transaction costs are shown as a separate entry on the monthly account statement provided by the custodian bank.

With Scalable Broker you are using the services of two different companies: the contract brokerage of Scalable Capital GmbH (Scalable Capital) and commission trading, account and custody management of Baader Bank AG (custodian bank). The two companies invoice the services they provide separately.

The custodian bank is responsible for tax accounting. When determining the profit from a sale transaction, fees charged by the custodian bank are automatically deducted. These are fees for securities trading in accordance with the custodian bank's list of prices and services and the special conditions agreed with you.

Scalable Capital, as an acquisition broker, cannot deduct any taxes and therefore cannot automatically deduct the acquisition brokerage fees from your profit. Please note that Scalable Capital does not provide tax advisory services. Please consult your tax advisor if you have any detailed questions.

How does the final withholding tax work?
 

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. Scalable Capital cannot provide tax advisory services in this regard.

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".

How does the payment of the church tax work?
 

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".

When do I have to pay foreign withholding tax?
 

The foreign withholding tax is comparable to the German capital gains tax, but is incurred directly at the "source" and, as a country-specific tax, depends on the respective country.

The amount of the country-specific withholding tax can be obtained from the Federal Central Tax Office. For further details, please contact your tax advisor.

Is it possible to be exempted from withholding tax in advance or to have it reduced?
 

For US withholding tax, the custodian bank (Baader Bank) can grant a lower tax rate as a Qualified Intermediary. A reduction of the withholding tax from 30% to 15% is possible if you are liable to pay tax in Germany. According to the double taxation treaty USA - Germany, the automatic reduction of the US withholding tax takes place for non-US persons with German citizenship, German residence and tax liability in Germany. For foreigners living in Germany the legitimation has to be done by Form W-8BEN. To do so, send us the completed form via e-mail to service@scalable.capital. Please make sure to provide complete information when submitting the form. If you are not taxable in Germany, the US withholding tax is regulated in the country-specific double taxation treaty between the USA and your tax country. For all other countries, an advance exemption from the respective withholding tax is not possible.

When will the advance flat rate be debited?
 

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.