Munich, 4th May 2022. Scalable Capital, a leading digital investment platform in Europe, launches its online broker and crypto offering in the Austrian market. With “Scalable Broker” and “Scalable Crypto” the company introduces convenient and cost-effective trading in more than 6,000 stocks, 1,500 exchange traded funds (ETFs), 2,000 mutual funds and 375,000 derivatives. Moreover, Austrian clients can invest in all major cryptocurrencies and set up savings plans on stocks and ETFs without commissions.
Scalable Capital was co-founded in 2014 by the Austrian Florian Prucker and the German Erik Podzuweit. Only a few months after the digital wealth management was launched in Germany in 2016 it was also made available in Austria. Today, more than half a million people in six countries use the investment platform. Now, Scalable Capital is expanding its services in Austria with an online broker. It includes an intuitive tax report, which is prepared by the auditing company KPMG AG based on data provided by Scalable Capital. In the overview, which is tailored to Austrian tax law, all kinds of capital gains and losses in the brokerage and wealth deposit accounts are taken into account including those on derivatives and crypto ETPs. This tax easy (“steuerleichte”) solution is free of charge for Austrian clients.
“Digital wealth management facilitated the investment process for retail clients also in Austria radically. Now, with the Scalable Broker they can tailor their portfolio even more individually or invest in cryptocurrencies”, says Florian Prucker, Co-Founder and Co-CEO of Scalable Capital. “Anyone thinking about investing should think of Scalable Capital.”
Clients of the Scalable Broker can invest cost-effectively in stocks, ETFs, cryptocurrencies, mutual funds and derivatives. The company offers different pricing models to suit every investor: The FREE Broker offers commission-free stock and ETF savings plans and commission-free trades in over 700 PRIME partner ETFs (iShares by BlackRock, Invesco and DWS Xtrackers). Orders in other products start at just 0.99 euro. No custody account fees are charged. The PRIME Broker includes all perks of the FREE Broker plus a trading flat rate with an unlimited number of trades for a monthly fee of 2.99 euro.
A variety of features like extended trading hours (08:00 to 22:00), free real-time price data, price alerts and many more supports the users in their investment decisions. They are united in a modern and intuitive interface on web and mobile apps (iOS and Android).
Scalable Crypto offers easy, affordable and secure access to crypto investments via the stock exchanges XETRA (Deutsche Börse) and gettex (Börse München). The cryptocurrencies are simply held in the form of securities on the customer's existing brokerage account. There is no need to open a separate wallet or pay for the costly secure custody of the digital coins. What's unique about Scalable’s crypto offering is that it combines the security of trading on a regulated exchange with physically-backed exposure to the cryptocurrency asset class.
Austrians have never saved more. Home loans and savings contracts as well as life insurance remain popular, only a small proportion of their financial wealth is invested in the capital markets. In light of the growing need for individuals to take control of their finances and build wealth for their retirement, the demand for simple access to capital markets is clear.1
“Half of the people under 30 in Austria consider stocks to be an interesting form of investment in principle," says Florian Prucker. "Yet, the savings are often just kept in the bank account and lose value over time. Only one in ten Austrians invest their money in stocks - this needs to change. We make investing as easy as possible for investors.”
About Scalable Capital
Scalable Capital is a leading digital investment platform in Europe that makes investing easy and affordable for everyone. With the Scalable Broker, customers can trade shares, ETFs, funds, cryptocurrencies and derivatives independently and thus compile their own portfolio. They can have their savings professionally invested via the digital wealth management service. More than 500,000 customers already use the services.
Scalable Capital was founded in 2014 and is already active in Germany, the UK, France, Spain and Austria. The investment firm, which is supervised by BaFin and the Bundesbank, has more than 6 billion euros on its platform. In addition to its business for private customers, the company develops B2B solutions. Its long-standing partners include ING, Barclays Bank in the UK, the robo-advisor Oskar and the Santander Group in Spain. Scalable Capital employs more than 380 people at its offices in Munich, Berlin and London. Together with the founding and management team around Erik Podzuweit and Florian Prucker, they work to enable everyone to become an investor.
For further information, please visit:www.scalable.capital
Head of Communications
Finsbury Glover Hering
1Bank Austria 2021 Spar- und Anlageverhalten