Trade Republic vs Scalable Capital: Which Broker Is Better?

Trade Republic and Scalable Capital are two of Germany’s best-known neobrokers. Both normally handle German investment taxes automatically, offer ETF savings plans from €1 with no execution fee and operate as German banks supervised by BaFin and the Bundesbank. They are not interchangeable, however.

The useful question is not “Which broker wins overall?” It is “Which broker fits the way I will actually invest?” A person buying one global ETF every month needs a different service from someone placing frequent one-off orders, choosing among trading venues or managing a child’s account.

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Quick verdict: For one long-term ETF savings plan, either broker can be a low-cost choice. Trade Republic stands out for its simple all-in-one app, card, current-account features and a current 2.25% rate on cash. Scalable Capital offers more than 2,700 ETF savings plans, a separate overnight account currently paying 2.50%, EIX, gettex and Xetra, and more tools for investors who actively organise their portfolios.

For the full single-broker analysis, read our Trade Republic review and our Scalable Capital review.

All variable terms verified on 15 August 2026. Rates and fees can change. Scalable Capital has already announced a gettex pricing change effective 1 September 2026.

Trade Republic vs Scalable Capital at a glance

This table is not a scorecard. A feature matters only if you will use it. Advanced order types add little to an automated ETF investor; a card is irrelevant if you deliberately keep everyday banking separate from your investments.

Fees: which broker is really cheaper?

For ETF savings plans, the answer is simple: both currently charge no execution fee and accept plans from €1. Fund costs, spreads and possible product costs still apply. A “free savings plan” does not mean that the ETF has no ongoing cost or that selling later is free.

For one-off securities orders, Trade Republic charges no order commission but generally applies a €1 external settlement charge per transaction. Scalable FREE generally charges €0.99 on EIX and gettex until 31 August 2026, while certain PRIME ETF purchases of at least €250 may be free. Xetra costs €1.99. From 1 September 2026, gettex trades cost €1.99; EIX remains a separate venue with its own tariff.

Scalable PRIME+ costs €4.99 per month. Qualifying EIX trades of at least €250 have no order fee; smaller trades cost €0.99. Six FREE trades at €0.99 total €5.94, so PRIME+ can become marginally cheaper at roughly six suitable monthly trades. That calculation fails if orders are below €250, use another venue or the subscription is kept during inactive months. Spread and execution price can matter more than a one-cent headline difference.

Three realistic cost scenarios

Trade when the underlying market is liquid and compare bid and ask prices. Germany’s consumer centres warn that a low order charge does not automatically produce the best execution price. Frequent trading also raises costs and the risk of behavioural mistakes.

ETF savings plans: which broker is better?

Trade Republic offers more than 2,000 ETFs and Scalable Capital more than 2,700. Investors can usually find mainstream global, European and US-index UCITS funds at either broker. Scalable wins on raw choice. Trade Republic remains attractive to beginners because savings plans, cash and card sit in a very reduced interface.

Both allow plans from €1 and can create fractional holdings. Fractions make small plans practical, but they are not freely transferable whole exchange-traded units. Check how residual fractions would be handled before a later portfolio transfer.

Do not select a broker by the largest ETF count. Search for your exact fund by ISIN, then compare execution dates, frequency, editing, funding method and eventual selling cost.

For one mainstream ETF: effectively a tie. For a larger shortlist or several specialised plans: Scalable Capital has the edge. For the simplest start with banking in the same app: Trade Republic has the edge.

Interest on uninvested cash: the structural difference

On 15 August 2026, Trade Republic advertised a variable 2.25% p.a. on cash. Scalable Capital advertised a variable 2.50% p.a. on unlimited overnight savings. On €10,000 the difference is €25 gross per year—smaller than the headline percentages may suggest.

The account structure matters more. Scalable pays interest on a separate overnight account; its current rate page lists broker cash at 0%. Investors must consciously place money in the overnight account to earn the stated rate.

Trade Republic integrates cash more directly into the all-in-one experience. Its official information says customer funds may sit with partner banks, while the interest page also refers to income or dividends from money-market funds. Your actual allocation in the app matters more than the headline rate.

Deposit protection is not the same as fund assets

Bank deposits are generally protected under the relevant bank’s statutory deposit-guarantee scheme up to €100,000 per customer and institution. Money allocated to a money-market fund is not a bank deposit and is not covered by statutory deposit insurance. Fund assets are held under a separate legal structure and retain product and market risk.

Scalable says PRIME+ cash can be distributed among Scalable and up to four partner banks, potentially giving five separate statutory €100,000 limits, with possible voluntary protection on top. Without PRIME+, cash may be allocated to banks or qualifying money-market funds, and Scalable says either method may be used alone. Trade Republic’s protection also depends on what is actually bank cash and what is assigned through money-market funds.

Cash verdict: Scalable currently pays the higher rate but separates broker cash and overnight savings. Trade Republic is more integrated. At larger balances, inspect the current allocation at either provider instead of assuming that “€100,000 deposit protection” covers every euro in every structure.

Safety: are Trade Republic and Scalable Capital legitimate?

Trade Republic Bank GmbH and Scalable Capital Bank GmbH are German banks supervised by BaFin and the Bundesbank. That is meaningful regulation, but it does not prevent investment losses, poor decisions, outages or every operational problem.

Securities in a custody account are not ordinary deposits. Trade Republic says clients remain the owners and securities are held through domestic and international depositories. Scalable also describes securities as segregated from the bank’s own assets. Deposit insurance covers eligible bank cash, not stocks, ETFs or money-market funds.

A proper safety review separates four questions: Which legal entity provides the account? Where is the cash? How are securities held? Which risks come from the investment itself?

Trading venues and execution: old comparisons are outdated

Many older reviews say Trade Republic executes stocks and ETFs only on LS Exchange. That is no longer complete in 2026. Trade Republic offers Best Price and Direct Price for stocks and ETFs. The broker says Best Price compares real-time executable quotes from relevant reference exchanges; Direct Price lets the customer choose from the available global venues. Check availability and the displayed fee before ordering.

Scalable lets users choose European Investor Exchange, gettex or Xetra. Conventional venue selection is therefore explicit in its order flow, although the visible fee changes with venue, plan and date.

Trade Republic offers market, limit and stop orders. Scalable adds tools including stop-limit and post-purchase take-profit and stop-loss instructions. That is useful for more active portfolio management but adds little to a monthly ETF plan.

Practical rule: compare the tradeable price, spread, order limit, venue and market liquidity—not only the order fee.

Stocks, funds, bonds, crypto and derivatives

Trade Republic offers up to 7,500 stocks plus more than 2,000 ETFs, bonds, crypto, derivatives and private-market products. Scalable combines more than 2,700 ETFs with a broad range of stocks, funds, crypto ETPs and more than 625,000 derivatives. Product count alone is not a quality measure.

For a long-term beginner, one broad UCITS ETF, a low-cost plan and reliable tax documents usually matter more than derivatives or crypto. Derivatives can result in total loss. Scalable Crypto uses exchange-traded crypto products; that is legally and tax-wise different from directly held coins. Trade Republic provides a different crypto route. Do not compare them merely because both use the word “crypto”.

App, web and portfolio management

Trade Republic deliberately keeps the experience simple and connects investing, saving, cash and card. That reduction can help beginners but may feel restrictive for complex portfolios. Its web access and newer Web Terminal extend use beyond a phone.

Scalable offers both app and web access. PRIME+ adds features including expanded portfolio analysis, unlimited portfolio groups and price alerts, securities comparison and Smart Predict. Those tools can help users manage several strategies or watchlists. Someone buying one ETF should not subscribe for features they never use.

Support and customer reviews: how to read the evidence

Following its 2026 service overhaul, Trade Republic says it now offers 24/7 telephone and live-chat support with human agents inside the app. Scalable prioritises support requests submitted through its app and web interface; an email address is available when account access is unavailable or before signup.

Older public reviews frequently criticised Trade Republic’s accessibility, portfolio-transfer handling and automated replies. That history is relevant, but it does not automatically measure the human support rolled out from April 2026. Public feedback on Scalable is also mixed around usability, processing times and individual cases. Reviews are self-selected experiences, not representative service-level data.

We therefore do not name a support winner. Check current channels, service-status pages and the quality of answers to your own pre-sale questions. If a large portfolio transfer or complex tax situation matters, test support before moving substantial assets.

German tax handling

Both are convenient for German tax residents. For ordinary securities income, capital-gains tax, solidarity surcharge and church tax where applicable are generally handled automatically. Both support a tax exemption order (Freistellungsauftrag) and provide annual tax documents.

Exceptions remain. Trade Republic says crypto income, certain physically deliverable ETCs and items such as Saveback or referral bonuses may require manual reporting. At Scalable, tax treatment of crypto ETPs can depend on the exact product. Transfers, legacy holdings, withholding tax and loss certificates may need extra review.

For an ordinary ETF savings plan, German tax handling is a meaningful advantage over foreign brokers that do not withhold automatically. It is not personal tax advice.

Trade Republic is usually the better fit for …

Scalable Capital is usually the better fit for …

Decision matrix

Bottom line

For a typical beginner using a long-term ETF savings plan, there is no dramatic cost winner. Both provide plans from €1 with no execution fee, German tax handling and a regulated banking and custody framework.

Choose Trade Republic if you want the simplest all-in-one service for saving, investing and spending. Choose Scalable Capital if wider ETF choice, conventional venues, extra order types, portfolio tools or a junior account matter more.

The current 0.25-percentage-point cash-rate difference should not decide on its own. On €10,000 it equals only €25 gross a year. Your ETF, total costs, savings discipline and ability to use the broker reliably matter more over the long term.

Before opening, answer three questions: What will you actually buy? How often will you place one-off orders? Do you want cash and banking inside the broker or deliberately separate? Those answers usually reveal the better fit.

Continue with broker fees explained, are European brokers safe?, compare all brokers or take the broker quiz.

This content is educational and is not investment, legal or tax advice. Investments can fall in value. Fees, rates, products and custody arrangements can change.

Primary sources and methodology

All variable figures were verified against the providers' official pages on 15 August 2026 (last checked 15 August 2026). Prices, rates and terms can change.

Secondary context (never the source for current fees):