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?
 

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.

How can I invite my friends?
 

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.

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 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.

Can I receive multiple rewards?
 

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.

When could the reward be withheld?
 

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.

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.

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.

Sicherheit & Datenschutz

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 (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?
 

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). Further information on the scope of protection of the partner bank by the Deposit Protection Fund can be found here.

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).

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).

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.

Why can’t I log in?
 

If you are unable to log in and you are certain you are using the correct email and password, there may be a technical issue.

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.

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.

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 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.

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

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 do not have a backup of your iOS device or your backup code, please contact our customer service team at service@scalable.capital.

How can I transfer or restore a two-factor authentication device shortcut to a new device?
 

On iOS devices, you have the option to transfer a device shortcut to a new device through the "Quick Start" feature. To do this, select this when you first 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, and thus 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.

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://at.scalable.capital/kontaktdaten in German and under https://at.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.

Taxes

General questions

What is a Tax Identification Number (TIN)?
 

A tax identification number (TIN) is an international uniquely assigned number used for tax identification purposes. In Austria, the TIN corresponds to your national tax ID ("Steuernummer") and can be found on FinanzOnline or in your previous tax statements.

Why do I need to provide my fiscal number?
 

Financial institutions are responsible for collecting information from their clients regarding tax residence and the tax ID number. The latter allows the taxpayer to be formally identified, since it is attached to their name in the tax administration's database.

How is my account taxed?
 

Your custody account is held with Baader Bank (our custodian bank) in Germany. As a result the capital gains of Austrian domiciled clients are neither automatically taxed in Germany, nor directly in Austria. Instead, taxes need to be declared via your yearly income tax declaration. Scalable Capital offers a free tax report to assist you with your tax filing. Additional information can be found here.

Note: This does not apply to withholding taxes (e.g. on dividends from equity holdings), which are levied locally and paid directly to the tax authorities of the respective country.

Please note: Scalable Capital does not provide legal and/or tax advice. If you have specific questions about your tax return, please contact your tax advisor.