Scalable Capital 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

Referral Program

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

If you use our broker and/or wealth management, you can recommend both products to your friend(s) and receive a reward.

You will find the invitation link for the Refer-a-Friend program directly in your Scalable profile, after logging in to the app and on the web. You can share it with your friends via email, SMS, WhatsApp, or other messenger services.

You will receive 50 euros for a successful referral of our wealth management product and 25 euros for a successful referral of the broker as a thank you.

Learn more here.

How do I invite my friends?
 

You can find the invitation link for the Refer-a-Friend program directly in your Scalable profile, after logging in to the app and on the web. You can share it 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 the referred person has successfully opened a brokerage account through your link and has executed one or more purchase orders or savings plans with a total trading volume of 250 euros or more, you will receive your bonus. The referred person must remain a client of the corresponding brokerage securities account with a positive cash balance for 6 months after successfully opening the account.

Please note the terms and conditions and promotional bonus payment requirements.

Can I receive multiple rewards?
 

You are entitled to receive a maximum of 10 rewards of 25 euros (referral of the broker) or 50 euros (referral of the wealth management product) each as a thank you, while the number of recommendations is unlimited.

When can the reward be withheld?
 

The reward may be withheld in the event of any attempt to manipulate the referral program, such as broadcasting/distributing on public/private media (e.g. public websites, telegram, etc.).

You must ensure that your friends agree to receive the referral invitation.

The reward entitlement will lapse if the referred person does not remain a client of the corresponding brokerage account for six months after the account has been successfully opened and if the referred person does not complete the required trades in the form of savings plan executions or purchase orders within six months of the successful account opening.

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 client area via our website or app.

You can change your data under "Profile". Please note that you will need access to your linked device to make the change.

If you are experiencing problems with 2FA but can still access your account, you can request a phone number change here. Please note that for security reasons only phone numbers from Germany, Austria, Italy, Spain, France and the Netherlands can be stored in your Scalable account.

If you no longer have access to your account, if you want to change your master data (e.g. name) or if your securities account is held at ING, please contact our service team by email at service@scalable.capital, stating the exact change.

Security and privacy

Is Scalable Capital an independent and regulated company?
 

Scalable Capital is an independent securities institution with the regulatory permission of the German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht - BaFin) to provide securities services pursuant to section 15 of the Investment Firm Act (Wertpapierinstitutsgesetz - WpIG). Scalable Capital offers in particular the service of contract brokerage ("brokerage"). We are subject to supervision by the BaFin 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 wealth 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 client 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 Compensation Scheme of German Banks (Entschädigungseinrichtung deutscher Banken - EdB) up to a deposit amount of 100,000 euros (Details on this at edb-banken.de/en) and beyond that by the German Deposit Protection Fund of Private Banks (Bundesverbands deutscher Banken - 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 your assets. Your 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 German Compensatory Fund of Securities Trading Companies (Entschädigungseinrichtung der Wertpapierhandelsunternehmen - EdW). The EdW can pay compensation if an institution is no longer able to fulfil its "liabilities from securities transactions" towards its clients for reasons directly related to its financial situation (and the German Federal Financial
Supervisory Authority BaFin has determined the case for compensation).

How does Scalable protect my account?
 

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). If the Scalable Login identifies that any of our users’ credentials were part of such external breach it will notify you via your registered email and ask you to change your password.

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

For security reasons, we conduct the login process to your personal client 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. If you have your securities account at Baader Bank, please use secure.scalable.capital/login, if you have your securities account at ING, you can log in via ing-secure.scalable.capital/login.

How can I block my account, e.g. if unauthorised third parties have access to it?
 

If you no longer have access to your mobile device or SIM card, i.e. due to a loss of your device or if someone else has knowledge of the security features of your account, then you can contact our client service by emailing service@scalable.capital.

In order to prioritise your message during our business hours, please add "Account Block" to the subject of the email.

We will block your account and send you the confirmation by email. You will receive the confirmation to the email address stored in your account.

Until we contact you, you can already change the passwords on your Scalable account and your email account if you suspect it has been hacked.

Why can’t I log in?
 

If you have made sure that the combination of your email 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 clients with securities 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 client service. In this case or in case of technical problems, please contact our client service at service@scalable.capital.

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 client 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.

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 client area via our website or app.

You can change your data under "Profile". Please note that you will need access to your linked device to make the change.

If you are experiencing problems with 2FA but can still access your account, you can request a phone number change here. Please note that for security reasons only phone numbers from Germany, Austria, Italy, Spain, France and the Netherlands can be stored in your Scalable account.

If you no longer have access to your account, if you want to change your master data (e.g. name) or if your securities account is held at ING, please contact our service team by email at service@scalable.capital, stating the exact change.

How can I download a copy of my personal data?
 

In accordance with Article 15 of the European General Data Protection Regulation (GDPR), you can request a copy of the personal data processed about you. To do so, please log into your personal client 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 use our wealth management or brokerage offering. For more information, please also refer to our privacy policy.

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. If you have 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 client area can therefore no longer be offered.

Two-factor authentication

What is two-factor authentication (2FA) and how does it protect my account?
 

Two-factor authentication serves as an additional layer of security and an effective method of protecting your Scalable account from unauthorised access.

With two-factor authentication, two separate factors (knowledge & possession) are used 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, such as your smartphone. This means that an unauthorised person without the linked smartphone cannot access your account or make sensitive changes even if they know your username and password.

Can I use Scalable without two-factor authentication?
 

No, the security of your personal and financial information is our top priority. To improve the user experience, we have integrated features such as silent authentication and push notifications to make the process as seamless as possible.

How do I set up two-factor authentication for my account?
 

Log in to the Scalable Capital app.
Follow the instructions under "Profile" > "Two-factor authentication".

You will then receive an email with an activation link that you must confirm on your mobile device. Alternatively, you can also enter the activation code from the email manually.

The next step is to confirm the phone number on record. Request the confirmation code via SMS and enable 2FA by entering the code.

After successful activation, you will receive a backup code. Make sure you keep this in a safe place that is only accessible to you.

You will need the backup code to deactivate 2FA if lost access to your linked mobile device.

How do I authorise a 2FA request on my linked device?
 

If you initiate a 2FA request via an unlinked device, you will receive a push notification on your linked device. The push notification will take you to the Scalable app to get more information about the request. This allows you to confirm or reject data changes or login attempts on your linked device by fingerprint, facial recognition or PIN entry.

How can I deactivate two-factor authentication and unlink my device?
 

Important: A mobile device must always be linked to your account. Without an active device link, you will not have access to your account and will be prompted to activate two-factor authentication after logging in with your user name and password.

Unlinking with access to your linked device
Log in to the Scalable Capital app. Select "Profile" > "Two-factor authentication" > "Remove linked device". The request is automatically confirmed on your linked device.

You can also remove the device link via an unlinked device. Log in to the Scalable Capital app. Select "Profile" > "Two-factor authentication" > "Change linked device".
If you link the device via an unlinked device, you must confirm the request via your linked device.

Unlinking without access to your linked device

Deactivation with a backup code
You will receive a backup code as part of the activation process. This is required for deactivation.

When logging in, select "No access to linked device?" and then enter your backup code.

Deactivation with SMS
If you do not have either your linked device or your backup code, you can reset your two-factor authentication up to three times yourself. To do this, it is necessary that the mobile number you have stored with us is up to date and that you can access it.

When logging in, select "No access to linked device?". Instead of entering the backup code, select "Backup code not available" in this step and request a code by SMS.
You will then receive a text message with a confirmation code, which you then enter and confirm in the app. The device link is now cancelled.

If you have already used this method three times or do not have access to your stored mobile number, please contact our Client Success Team at service@scalable.capital.

What can I do if I no longer have access to my linked device?
 

Restore device shortcut from backup
iOS: On iOS devices, you can restore a device shortcut from an iCloud backup. To do this, you must have previously activated the "iCloud Backup" function and "iCloud Keychain" on your linked device, as well as performed a device backup including the Scalable App.

This iOS feature is available on all devices that support iCloud Backup and iCloud Keychain. This applies to iPhones, iPads and iPod Touch devices running iOS 11 or later.

Android: On Android devices, the "Back up data" via Google Drive must be active accordingly.

Please note that the backup must take place after activating the two-factor authentication in the Scalable app. If you subsequently restore a new device from this backup, you have the option to register the new device as your linked device.

If a backup of the previously linked device is recognised, this function is available via "Profile" > "Two-factor authentication" > "Restore linked device". Alternatively, click "No access to linked device?" while performing a 2FA request. Please note that only one device can be linked per account at a time and therefore the previously linked device will be removed during this process.

You can also reset the device link using the backup code or via SMS. To do this, follow the steps in "How can I deactivate two-factor authentication and unlink my device?".

What happens if I don't have access to my linked device, have lost my backup code and have changed my phone number?
 

If you do not have your linked device, your backup code or access to your phone number on record, you can request your phone number change here.

How can I change the linked device for two-factor authentication?
 

To change the linked device, you must first remove the current device link and then link the new device to your account. See:

- How do I disable two-factor authentication?
- What can I do if I no longer have access to my linked device?

What happens if the linked device is replaced, lost, stolen or damaged?
 

You will need your backup code or access to your phone number to deactivate two-factor authentication and reactivate it on a new device. Keep your new backup code in a safe place that is only accessible to you.

Your account is still protected. The "Secure Element" of your device stores the cryptographic key for authorising 2FA-protected actions in the Scalable app. Access to the Secure Element requires authorisation via the device's biometrics or a passcode.

Which mobile devices and operating systems are required for linking a device?
 

You need either a mobile device with iOS 15.5 (> iPhone 6s and 1st generation iPhone SE) or with Android 6 and higher.

Is there an alternative way to access my account if I can't use my mobile device for 2FA?
 

We currently only offer two-factor authentication by linking a mobile device to your account. If you do not have a compatible device, please contact our Client Success Team.

What should I do if I receive a 2FA request that I did not initiate myself?
 

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.

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 fifteen (15) 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.