Trade Republic vs Scalable Capital Germany: 2026 Cost Comparison

You're sitting in your new Berlin apartment with a German IBAN, a Steuer-ID, and 500 EUR you want to put into an ETF savings plan before you forget about it again. You open the App Store and see both Trade Republic and Scalable Capital sitting at the top of the finance charts, and neither app tells you upfront which one is actually cheaper once you factor in your specific situation as a foreigner banking in Germany. On 25 August 2026, BaFin published its quarterly update to the retail investor protection dashboard, flagging neobroker fee transparency as an ongoing supervisory focus after a wave of complaints about hidden FX markups on cross-border transfers. That's directly relevant here: if you're funding your account from a UK, US, or non-euro account, the fee you don't see on the pricing page is often the one that costs you the most.

This comparison breaks down what each broker actually charges as of August 2026, not what their marketing pages imply, so you can pick the one that fits how you actually invest.

Trade Republic vs Scalable Capital: Quick Verdict for Expats in 2026

If you want the short answer before the breakdown: Trade Republic wins if you trade occasionally, want one flat 1 EUR fee per order, and don't mind a smaller (though still solid) ETF and stock universe. Scalable Capital wins if you run a monthly savings plan across several ETFs, want a genuinely free tier for that, or want a robo-advisor option layered on top of manual investing.

• New arrivals building a first portfolio: Trade Republic's flat 1 EUR fee is easier to reason about with a small balance.
• Expats running 3+ ETF savings plans monthly: Scalable Capital's FREE tier avoids per-plan execution costs that add up.
• Expats who want cash to earn interest while deciding: compare the current rates below, they move.

Account Fees Compared: Custody, Trading, and Hidden Costs

Trade Republic runs a single-tier model: 1 EUR per trade, no custody fee, no account maintenance fee. That's it for the base structure. Order execution runs through LS Exchange (Lang & Schwarz) or, for some instruments, Xetra, and the flat fee applies whether you're buying 50 EUR or 5,000 EUR of an ETF.

Scalable Capital splits into two tiers. The FREE plan charges no monthly fee but adds a small third-party exchange fee (historically around 0.99 EUR to 1.99 EUR per trade depending on venue) on top of ETF savings plans that remain free. The PRIME+ tier charges a flat monthly subscription, and in exchange gives you unlimited free trades on Gettex and a broader instrument list, plus the ability to trade on multiple venues without per-order surcharges. Because both companies adjust these figures periodically, always check the current Trade Republic pricing page and the Scalable Capital pricing page before you commit, since the exact euro amounts as of August 2026 can shift with a single update.

The hidden cost most people miss on both platforms isn't the headline trading fee, it's the spread baked into the execution price on LS Exchange or Gettex, which typically runs a few basis points wider than a full-service exchange like Xetra. For a one-off 2,000 EUR ETF purchase that spread might cost you 2 to 5 EUR you never see itemized.

ETF Savings Plans: Which Is Cheaper for Monthly Investing

For recurring monthly investors, this is the section that actually decides your winner. Trade Republic's savings plan installments are executed free of charge (€0); the €1 flat fee only applies to manual trades and to selling units, not to savings plan execution, across its selection of several thousand ETFs, stocks, and crypto savings plans. Minimum installment amount is €1.

Scalable Capital offers a genuinely free ETF savings plan on its FREE tier for a large list of ETFs (historically 2,000 plus), with a typical minimum installment around 1 EUR as well. If you're running two or three separate ETF plans a month, Scalable Capital's zero-fee structure on FREE beats Trade Republic's 1 EUR per plan, since that 1 EUR gets multiplied by every ETF and every month.

• One ETF, monthly: Trade Republic costs 0 EUR per year (savings plan executions are free of charge on Trade Republic). Scalable Capital FREE costs 0 EUR for the plan itself.
• Three ETFs, monthly: Trade Republic costs 0 EUR per year (savings plan executions are free of charge on Trade Republic). Scalable Capital FREE still costs 0 EUR in plan fees.
• Both: ETF selection matters as much as price. Check the exact fund list on each app before assuming your target ETF (say, an MSCI World or FTSE All-World tracker) is included on the free tier you're comparing.

Cash Interest on Uninvested Balances as of August 2026

This section is time-sensitive, and the numbers move with ECB deposit rate decisions, so treat these as a snapshot rather than a guarantee. Both brokers pay interest on cash sitting in your settlement account, and both have historically capped the amount that earns the advertised rate, with balances above the cap earning a lower or zero rate.

Trade Republic has paid interest tied closely to the ECB deposit facility rate on cash up to a stated cap, paid out monthly. Scalable Capital's rate depends on your account tier, with PRIME+ subscribers sometimes getting a modest boost over the FREE tier's rate, also paid monthly and also capped. Because the ECB Governing Council meets on a fixed schedule and these brokers reprice within days of a rate change, don't trust a number you read anywhere, including this article, without checking the live rate. Go straight to the Trade Republic interest page or the Scalable Capital interest page for the figure as of today.

FX Fees for Foreigners: Currency Conversion and Cross-Border Transfers

This is where being an expat actually changes your math. Both Trade Republic and Scalable Capital operate in euros, and both settle trades in USD-denominated stocks or ETFs by converting through their custodian bank, typically adding a small FX markup (often in the range of 0.15% to 0.3% depending on the instrument and current terms) on top of the mid-market rate. That's separate from any fee your home bank charges to send euros into Germany in the first place.

If you're wiring funds from a UK, US, or Swiss account into either broker, the real cost usually sits with your sending bank's SWIFT transfer fee and exchange rate margin, not with Trade Republic or Scalable Capital themselves, since both only accept SEPA transfers in euros. That means you need a euro account to fund either broker at all. A German current account or a multi-currency account like those covered in Best Banks in Germany for Expats: Top Picks & Guide for 2026 lets you convert once, at a competitive rate, rather than paying a markup twice.

Opening an Account as a Foreigner: Documents, Tax ID, and Timeline

Both brokers accept non-German EU residents and, in most cases, third-country nationals with a valid German residence registration. You'll need your passport or national ID, your German Steuer-ID (tax identification number, mailed automatically after Anmeldung, or retrievable via the Bundeszentralamt fur Steuern), and a German or EU-based IBAN for funding.

1. Download the app and start the signup, entering your basic details and residential address.
2. Complete video identification (PostIdent-style verification through a partner provider), which usually takes 5 to 10 minutes if your documents are ready.
3. Enter your Steuer-ID so the broker can report to the Finanzamt correctly for the Abgeltungssteuer (flat capital gains tax) withholding.
4. Link your euro bank account via SEPA for deposits and withdrawals.

Most applicants report account approval within 1 to 3 business days once identification clears. If you haven't finished your Anmeldung yet and don't have a Steuer-ID, you'll want to sort that first, since neither broker will fully activate an account without it. If you're still working through residency basics, the German Blocked Account for Expats: Complete 2026 Sperrkonto Guide and Police Certificate (Fuhrungszeugnis) in Germany: Do You Need One? guides cover adjacent paperwork you're likely juggling at the same time.

Which Broker Actually Wins for Expat Investors in Germany

If your investing style is a single lump sum here and there, or one or two occasional trades a month, Trade Republic's flat 1 EUR fee and simple interface make it easier to predict your costs without reading a tiered pricing page. If you're building a diversified monthly savings plan across multiple ETFs, or you want the option of a robo-advisor managed portfolio alongside self-directed trading, Scalable Capital's free savings plans on the FREE tier usually save you more over a year.

Neither app has a dedicated English-language phone support line, but both apps and their help centers are fully available in English, which matters if your German is still at A2 level. If you're job hunting or negotiating your first German salary and want to start investing part of it immediately, pairing your broker choice with a clear budget helps. Check out How to Find a Job in Germany as an Expat: 2026 Playbook and Salary Negotiation in Germany as an Expat: 2026 Script & Guide for the income side of the equation, or Personal Loans Germany Expats: Complete 2026 Guide & Best Lenders if you're weighing whether to invest or pay down debt first.

Frequently Asked Questions

Is Trade Republic or Scalable Capital cheaper for expats in Germany?

It depends on how often you trade: Trade Republic's flat 1 EUR per order is cheaper for occasional single trades, while Scalable Capital's FREE tier is cheaper for running multiple monthly ETF savings plans, since those stay free while Trade Republic charges 1 EUR per plan execution.

Do Trade Republic and Scalable Capital charge foreign transaction fees?

Both add a small FX markup, typically in the low single-digit basis points, when you buy USD-denominated stocks or ETFs, but neither accepts foreign currency deposits directly, so you'll need a euro account to fund either one.

Can non-German residents open a Trade Republic or Scalable Capital account?

Both accept EU residents broadly, and non-EU expats with a registered German address and a Steuer-ID, but you generally need to have completed your Anmeldung and hold a German or EU-based euro IBAN to open and fund the account.

What interest rate does Scalable Capital pay on cash as of August 2026?

The rate varies by account tier and moves with ECB policy, so check the live figure on the official Scalable Capital site rather than relying on any figure quoted in an article, since it can change within days of a rate decision.

Are ETF savings plans free on Trade Republic and Scalable Capital?

Scalable Capital's FREE tier offers genuinely free ETF savings plans on its supported fund list. Trade Republic charges 1 EUR per executed savings plan installment regardless of amount.

Which broker is better for expats who don't speak German?

Both apps run fully in English, so language isn't a deciding factor. Your choice should come down to trading frequency and whether you want a subscription tier for unlimited free trades.

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Final Thoughts

Disclosure: this article includes affiliate links to Trade Republic and Scalable Capital. We only recommend products we'd genuinely use ourselves, and both are legitimate, BaFin-regulated brokers. If you're still deciding, open a free account with whichever matches your trading habits, since neither charges an account maintenance fee just for having a dormant account. Compare the live pricing pages one more time before you fund anything, because both brokers update fee schedules more often than most German banks.