How to Open a Scalable Capital Account in 2026

Opening a Scalable Capital account in 2026 takes only a few minutes online — but a few things have changed that are worth understanding before you start. The biggest shift: Scalable Capital has been PFOF-free since December 2024 and now routes trades through the EIX exchange, jointly operated with Börse Hannover. On top of that, Scalable Capital has been building toward acting as its own custodian under a new banking entity. This guide explains how to open a Scalable Capital account step by step and what the 2026 regulatory changes mean for you.

What's in this guide

• What changed in 2026: PFOF and the EIX exchange
• Requirements to open a Scalable Capital account
• How to open a Scalable Capital account: step by step
• Tips to get the most out of your account
• Is Scalable Capital right for you?

What changed in 2026: PFOF and the EIX exchange

Payment for order flow (PFOF) is a practice where a broker receives a payment from a trading venue for routing client orders there. Here the regulatory timeline is more nuanced than a single "future EU ban": MiFIR Article 39a prohibited PFOF across the EU from 28 March 2024. However, member states were allowed to apply a temporary national exemption until 30 June 2026 — and Germany was in fact the only EU member state to formally notify ESMA and make use of this transitional carve-out. In other words, the core EU prohibition is already in force, and 30 June 2026 is the date Germany's transitional exemption expires — not the start of an entirely new ban. The European securities regulator ESMA has, in its published work on this topic, documented concerns about potential conflicts of interest where a broker's revenue is linked to a trading venue, and about how this can affect best execution for clients.

Scalable Capital moved ahead of Germany's national deadline. According to the company, it has operated PFOF-free since December 2024. Instead of selling order flow, Scalable trades are executed via EIX (European Investor Exchange), a regulated exchange jointly operated by Scalable Capital and Börse Hannover (BÖAG Börsen AG). Under this arrangement, BÖAG/Börse Hannover provides the regulatory operation and trading supervision of the venue, the technical operation is outsourced to Scalable GmbH, and two market makers — Scalable Capital Bank GmbH and mwb fairtrade — provide liquidity. Per the current company and exchange information, EIX execution takes place during extended trading hours, officially 08:00 to 22:00 on trading days (Mondays to Fridays) — considerably wider than standard stock-exchange hours. According to the official EIX FAQ, the weekday order-placement window is wider still, reported as roughly 05:30 to 02:30, so you can queue orders well outside execution hours. Weekend order placement may also be available for execution on the next trading day. Because these details have shifted during the venue's rollout, always confirm the current execution and order-placement windows on the official EIX or Scalable Capital site.

It is worth noting that the move away from PFOF does not automatically guarantee a better deal on every trade. ESMA's published analysis of PFOF highlights, in general terms, that links between a broker's revenue and a trading venue can raise best-execution and conflict-of-interest questions that investors should keep in mind on any platform. As with any venue, you should compare prices and use limit orders for larger trades. For most readers comparing platforms, our online broker comparison puts these trade-offs in context.

For you as a new customer, this mostly happens in the background. You still place orders in the app or web interface; they are simply routed to a regulated exchange rather than a PFOF venue.

EIX vs gettex vs Xetra at a glance

Scalable lets you route certain orders to different venues. Here is a simplified comparison:

Hours, fees and instrument counts can change — always confirm current details on the official site.

Will savings plans stay free after the ban?

A common question is whether the PFOF ban will make savings plans (Sparpläne) more expensive. Scalable Capital has publicly indicated that fee-free savings plans will continue to be available after the 2026 changeover. As terms can change, always check the current pricing page before you commit.

Requirements to open a Scalable Capital account

To open a Scalable Capital account you generally need:

• To be at least 18 years old
• A residence and tax domicile in a supported country (Scalable is strongest in Germany, Austria and other EU markets)
• A valid ID document (national ID card or passport)
• A smartphone for video or photo identification
• A reference bank account in your name (typically a SEPA / EU account)
• A German tax ID if you are tax-resident in Germany

Note on custody and deposit protection: Scalable Capital has been moving toward acting as its own custodian under the new Scalable Capital Bank GmbH entity, having pursued a full banking licence (Vollbanklizenz) from BaFin in addition to its existing investment-firm permissions (confirm the current entity structure and licence status on the official site). This migration from the previous setup (with Baader Bank as custodian and cash safeguarded at partner banks) is staged, so the exact custodian and deposit-protection arrangement that applies depends on when — and whether — your particular account was migrated to the new entity. Your cash deposits are protected under the applicable statutory deposit-guarantee scheme, and your securities are held in custody on your behalf. Always check the current terms on the official site for the exact custodian and protection details that apply to your account.

How to open a Scalable Capital account: step by step

Step 1: Choose your product and plan

Decide what you actually want to do. Scalable Capital offers a self-directed Broker (buy and sell ETFs, stocks, funds, crypto ETPs yourself) and a managed Wealth / robo product. For most readers wanting to open an account themselves, the Broker is the relevant choice. Within the Broker, there are usually different price tiers — a free entry tier (with a small per-order fee, currently in the region of €0.99 per trade) and one or more paid subscription tiers (for example, a PRIME+ subscription currently priced at €4.99 per month) that include free trades and additional perks. Verify the current figures on the pricing page, as they can change, and start with Scalable Capital directly.

Step 2: Start the online registration

Click "Open account" / "Jetzt eröffnen" on the website or in the app. Enter your email address and choose a secure password. You will then provide personal details: full name, address, date of birth, nationality and your tax residence.

Step 3: Enter tax details (important for German residents)

If you are tax-resident in Germany, you will be asked for your tax identification number (Steuer-ID). You can also set up a Freistellungsauftrag (exemption order) so that your capital gains and dividends up to the annual saver's allowance (Sparer-Pauschbetrag, currently 1,000 euros for individuals and 2,000 euros for jointly assessed couples — verify the current figure) are exempt from the automatic withholding of Abgeltungsteuer. Setting this up early means you do not have to reclaim withheld tax later via your tax return.

Step 4: Verify your identity

Scalable Capital uses electronic identification. Typically you choose between:

• Video identification (VideoIdent): a live video call with an agent, holding your ID up to the camera
• Photo / automated identification: photographing your ID and yourself with the smartphone app

Have your valid ID document ready and make sure lighting is good. This step usually takes only a few minutes.

Step 5: Confirm contracts and the reference account

Review and accept the account agreement, the cost and risk information, and the terms for the chosen plan. You will link or confirm your reference bank account, the SEPA account used to deposit and withdraw money.

Step 6: Fund your account and place your first order

Once your account is approved, transfer money via SEPA transfer or set up the supported deposit method. A standard SEPA credit transfer usually arrives within one banking day, while instant SEPA payments (where supported) can land in seconds. After the funds arrive, you can place a single order or, more commonly for beginners, set up an automated ETF savings plan that invests a fixed amount each month. Choose your ETF, the rate (savings plans can often start from as little as 1 euro per month), and the execution date.

Tips to get the most out of your account

• Use a savings plan for long-term investing. Automated monthly investing into a broad index ETF reduces timing risk and builds discipline, and savings plans can start from around 1 euro per execution. Confirm which savings plans are fee-free under the current 2026 conditions. If you are new to index funds, our ETF beginner guide explains how to pick one.
• Check whether a paid tier pays off. If you trade frequently or run several savings plans, a subscription tier (currently around €4.99 per month) with included free trades can be cheaper than per-order fees. If you invest rarely, the free tier is usually enough. You can review the latest plan details and any onboarding offers at Scalable Capital.
• Compare execution venues. Beyond EIX, Scalable may let you choose other venues such as gettex or Xetra for certain orders. EIX and gettex both offer extended hours, while Xetra offers the deepest liquidity during core hours; for large or thinly traded positions, compare quotes before sending the order.
• Set up your Freistellungsauftrag immediately. It is the simplest way to avoid unnecessary tax withholding on the first euros of gains.
• Mind trading hours and venue. With EIX you can trade in extended hours, but liquidity and spreads still vary by time of day; placing limit orders helps you control the execution price.

Is Scalable Capital right for you?

Scalable Capital suits investors who want a low-cost, app-first way to run ETF savings plans and buy stocks within an EU-regulated, German-supervised setup — and to open a Scalable Capital account in 2026 you can complete the whole process from your phone. The move to a PFOF-free model executed via the EIX exchange means execution is now done on a regulated venue, and Scalable's push toward acting as its own custodian under Scalable Capital Bank GmbH is part of a staged migration. That said, no single platform is right for everyone: if you trade complex products, want broad international market access, or prefer telephone support, you may find a traditional bank broker fits better. Whether the free tier or a paid subscription is cheaper depends entirely on how often you trade and how many savings plans you run, so compare the current pricing before opening, and re-check it once the 2026 changes are fully in effect.

Ready to open a Scalable Capital account? You can begin the process directly at Scalable Capital and check for any current onboarding offers there.

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Conditions

Account features, fees, plan tiers, savings-plan terms, custodian arrangements and trading hours can change. Always confirm current details, costs and the exact regulatory and deposit-protection setup on Scalable Capital's official website before opening an account. Investing involves risk, including the possible loss of capital. This article is general information, not investment or tax advice.