The fintech Scalable Capital was previously known primarily as a robo-advisor that automatically invests its clients' money in ETFs. Now the Munich-based company has launched a flat-rate brokerage service called Neo-Broker.
With her digital asset management Scalable Capital is already successful. The Munich-based robo-advisor has already over two billion euros Invested its clients' capital. According to the company, the fintech manages more assets than any other digital asset manager in continental Europe.
Scalable Capital is now entering the brokerage market. With an annual payment of €2.99 per month (otherwise €4.99 per month), customers can trade unlimited stocks and ETFs or save with ETFs through Scalable Capital. The Munich-based company also offers trading without a flat rate for €0.99. One ETF savings plan per customer is free.
Neo-broker aims to “democratize investment”
Erik Podzuweit, co-founder and managing director of Scalable Capital, says:
"Our broker gives private investors the opportunity to manage their own wealth creation. Similar to Netflix, our flat rate offers maximum cost transparency. We make trading easier, better, and more affordable for private investors. This takes us a big step further toward democratizing investing."
Trades are processed via the Gettex electronic trading platform of the Munich Stock Exchange. Baader Bank acts as the custodian bank. Scalable Capital's neo-broker is available as a web application and as an app for iOS and Android.
