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?
 

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.

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 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.

Scalable Capital Complaints Procedure
 

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.

Referral Program

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

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.

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 and has made a one-off purchase or started a savings plan, 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?
 

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

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?
 

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.

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.

If you do not have access to you linked device or backup code, please contact our customer service at service@scalable.capital.

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.

Turquoise Line

Taxes

Exemption order

How can I set up or change my tax allowance?
 

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 are 801 euros exemption order of an individual and 1,602 euros 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 Scalable Broker.

Please submit your exemption order before the end of the current year. Exemption orders are always valid from 01 January of the current year or from the beginning of the business relationship.

Will capital gains taxes already paid be refunded as soon as I set up an exemption order?
 

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.

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.

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?
 

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. 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?".

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".

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

In the case of US withholding tax, our custodian bank (Baader Bank) can grant a lower tax rate as a qualified intermediary. Baader Bank is able to reduce the withholding tax from 30% to 15% if you are subject to tax in Germany.

In accordance with the double taxation agreement between the USA and Germany, the US withholding tax is automatically reduced for non-US persons provided they have German citizenship, German residence and tax liability in Germany.

For foreigners living in Germany, a registration must be completed using the W-8BEN form in order to benefit from the lower tax rate. To do so, send us the completed form by e-mail to service@scalable.capital. Please make sure that you 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 agreement 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.