DEGIRO vs Scalable Capital — Which Is Better in 2026?

If you’re a European investor looking for a low-cost broker, your shortlist probably starts and ends with two names: DEGIRO and Scalable Capital. These are the two brokers that come up in nearly every conversation about affordable investing in Europe — and for good reason. Both offer access to thousands of stocks, ETFs, and other instruments at fees that would have seemed impossible a decade ago.

I’ve tested both from Spain. DEGIRO is the established workhorse — 3.5 million customers, 50 markets across 30 countries, part of the publicly traded flatex-DEGIRO group. Scalable Capital is the newer contender from Germany — started as a robo-advisor, expanded into full brokerage, and now offers everything from free ETF savings plans to a subscription model for unlimited trading.

The short version: DEGIRO wins on market access and asset diversity — more exchanges, more countries, more instrument types. Scalable Capital wins on ETF savings plans and its innovative pricing model. If you want the widest possible investment universe, go with DEGIRO. If you’re building a portfolio primarily through ETF savings plans, Scalable Capital is the better fit.

Quick Comparison: DEGIRO vs Scalable Capital

Fee Structures

Both brokers are cheap, but they’re cheap in different ways.

DEGIRO charges per-trade fees that vary by market. US stocks (NYSE, NASDAQ) cost EUR 2 per transaction — flat, simple. European stocks on Euronext, XETRA, and other exchanges have their own fee schedules, all generally competitive. The “Core Selection” ETFs can be traded with just a EUR 1 handling fee per transaction, which includes major products from iShares and Vanguard.

The hidden cost to watch for is the Exchange Connectivity Fee: EUR 2.50/year per foreign exchange you access, capped at 0.25% of your total account balance annually. If you invest across many markets, these small fees accumulate.

Scalable Capital offers two pricing tiers. The FREE Broker plan charges EUR 0.99 per individual trade with no account fee. The PRIME+ plan costs EUR 4.99/month (billed annually at EUR 59.88) and gives you unlimited trades with no per-trade commission plus interest on uninvested cash. On both plans, ETF savings plan executions are free.

The math is straightforward: if you make more than 5 trades per month, PRIME+ is cheaper than the FREE plan. If you make fewer than 5, the per-trade model saves money. For buy-and-hold investors using savings plans, the FREE plan may cost you nothing at all for ETF purchases.

DEGIRO’s revenue in 2025 was EUR 560 million, with net income of EUR 160 million — a publicly traded, profitable brokerage. Scalable Capital is backed by BlackRock and Tencent and is building toward long-term scale, including launching its own EU stock exchange (European Investor Exchange, or EIX).

One important note: Scalable Capital currently earns revenue through payment for order flow (PFOF), routing trades through venues like gettex. The EU’s ban on PFOF in Germany takes effect in June 2026, which may affect Scalable’s pricing structure. DEGIRO also routes some orders through internal matching but is less dependent on PFOF.

Market Access and Investment Universe

This is where DEGIRO has a clear structural advantage. Fifty markets across 30 countries means you can buy shares on the NYSE, NASDAQ, London Stock Exchange, XETRA, Euronext, Tokyo, Hong Kong, Singapore, and Australia — all from one account. If you want to build a globally diversified portfolio with direct market access, DEGIRO’s breadth is unmatched among European retail brokers.

Beyond stocks and ETFs, DEGIRO offers bonds (6 exchanges), options, futures, and recently added cryptocurrency trading. This makes it a more complete platform for sophisticated investors who want access to derivatives or fixed income alongside equities.

Scalable Capital’s market access is more focused. Trading is primarily routed through gettex and Xetra, which covers a large universe of European and international stocks and ETFs — but you don’t get direct access to Asian or Australian exchanges. For most European investors building ETF-based portfolios, this is sufficient. If you specifically need to buy shares listed on the Tokyo Stock Exchange or Singapore Exchange, DEGIRO is your platform.

Scalable Capital compensates with a few unique offerings. Its partnership with BlackRock produced the Scalable MSCI AC World Xtrackers ETF — a world ETF designed for European investors. The company has also obtained a license to operate its own EU stock exchange (EIX), which could eventually give it more control over trade execution.

Both platforms now offer crypto trading, though neither is a substitute for a dedicated crypto exchange like Kraken or Binance.

ETF Savings Plans

This is Scalable Capital’s strongest feature and the main reason many European investors choose it over DEGIRO.

Scalable Capital lets you set up automated savings plans starting from just EUR 1/month. You pick the ETFs (or individual stocks, or crypto), set a schedule (weekly, bi-weekly, monthly, quarterly), and the platform executes the purchases automatically. Execution is free on all plans — you pay nothing for the actual savings plan transaction.

For someone doing a EUR 500/month DCA into a world ETF, this means zero transaction costs on Scalable’s FREE plan. On DEGIRO, the same monthly ETF purchase through the Core Selection would cost EUR 1 per transaction (EUR 12/year). The difference is small in absolute terms, but Scalable’s savings plan experience is also smoother — more ETFs available in savings plans, better scheduling options, and a cleaner interface for managing multiple plans.

DEGIRO’s ETF savings plan offering has been more limited. Its Core Selection of commission-free ETFs is a strong offering, but the savings plan infrastructure isn’t as developed as Scalable’s. If automated, regular investing is central to your strategy, Scalable Capital has the edge.

Platform and Mobile App

Both platforms have invested heavily in their user interfaces over the past few years.

DEGIRO recently went through a major platform revamp that was long overdue. The old interface was clunky and difficult to navigate; the current version is a meaningful improvement. You can browse by asset class, filter by exchange, and search across the full library. The mobile app covers most essential functions — buying, selling, portfolio tracking — though some advanced features like in-depth research are still desktop-only.

Scalable Capital’s interface is cleaner and more modern. The dashboard displays your portfolio performance, allocation, and savings plan status at a glance. The mobile app has full feature parity with the web platform. If you’re managing a portfolio of ETF savings plans, Scalable’s app is genuinely pleasant to use.

For active traders, neither platform is as feature-rich as Interactive Brokers. But for buy-and-hold investors and ETF accumulators, both work well. Scalable Capital just feels more polished.

One practical note: DEGIRO only accepts bank transfers for deposits, which can take several business days. Scalable Capital also accepts instant transfers, giving you faster access to your funds when you want to make a purchase.

Regulation and Protection

Both platforms are well-regulated under established European financial authorities.

DEGIRO is regulated by the Dutch Authority for Financial Markets (AFM) and the Dutch Central Bank (DNB), with additional oversight from BaFin (Germany) through its parent company flatexDEGIRO. The standard investor compensation scheme covers up to EUR 20,000.

Scalable Capital is regulated by BaFin. Securities are held in custody at Baader Bank (also BaFin-regulated), and cash deposits are protected up to EUR 100,000 under the German deposit guarantee scheme. Securities are held separately from the broker’s assets, as is standard in Europe.

Both are safe choices. The main difference: DEGIRO is part of a publicly traded group (flatexDEGIRO on the Frankfurt Stock Exchange), which means public financial reporting and shareholder accountability. Scalable Capital is privately held but backed by institutional investors including BlackRock.

Who Should Choose Which?

Choose DEGIRO if you:

• Want access to the widest range of markets (50 markets, 30 countries)
• Need to trade options, futures, or bonds alongside stocks and ETFs
• Want to buy shares listed on Asian, Australian, or smaller European exchanges
• Prefer a per-trade fee model with flat, predictable costs
• Value the transparency of a publicly traded parent company

Choose Scalable Capital if you:

• Build your portfolio primarily through ETF savings plans (free execution)
• Want a subscription model for unlimited trading (PRIME+ at EUR 4.99/month)
• Prefer a managed portfolio option (robo-advisor at 0.75%/year)
• Value a more modern, polished mobile app experience
• Want interest on uninvested cash (PRIME+)

Use both if: You want Scalable Capital for your core ETF savings plan portfolio and DEGIRO for direct access to individual stocks across global markets. Many serious European investors maintain both — Scalable for automated investing, DEGIRO for opportunistic stock picks on markets Scalable doesn’t cover.

Verdict

For the majority of European investors who are building wealth through regular ETF purchases, Scalable Capital is the better choice. Free savings plan execution, a clean mobile app, the PRIME+ subscription for active traders, and the robo-advisor option for hands-off investing — it’s the more complete package for modern portfolio building.

For investors who want the broadest possible market access, DEGIRO remains the standard. No other European retail broker gives you this many markets, this many instrument types, at these prices. If you want to buy shares on the Tokyo Stock Exchange or trade options on Eurex, DEGIRO is the platform to use.

Both are excellent. Both are regulated. The right choice comes down to how you invest.

For the full breakdown, read my DEGIRO review and Scalable Capital review. For a broader look at your options, see my guide to the best online stock brokers in Europe. If you’re also looking at crypto alongside stocks, the Bitpanda vs Bitstamp comparison covers two European platforms that bridge both worlds.

Frequently Asked Questions

Is DEGIRO or Scalable Capital cheaper?

It depends on how you invest. For ETF savings plans, Scalable Capital is cheaper — execution is free. For individual stock trades, DEGIRO’s EUR 2 for US stocks can be cheaper than Scalable’s EUR 0.99 per trade depending on the market. Scalable’s PRIME+ subscription (EUR 4.99/month for unlimited trades) is the best deal for anyone making more than 5 trades per month.

Does Scalable Capital offer a robo-advisor?

Yes. Scalable Capital’s Wealth Management service creates and manages a personalized ETF portfolio based on your risk tolerance. It charges 0.75% per year on assets under management. DEGIRO does not offer a managed portfolio option.

Can I trade options and futures on Scalable Capital?

No. Scalable Capital focuses on stocks, ETFs, bonds, funds, and crypto. If you need access to options, futures, or other derivatives, DEGIRO offers these alongside its standard stock and ETF trading.

Are both platforms regulated?

Yes. DEGIRO is regulated by the Dutch AFM and DNB, with additional oversight from BaFin through its parent flatexDEGIRO. Scalable Capital is regulated by BaFin. Securities are held in custody at Baader Bank. Both platforms offer EUR 20,000 investor protection; Scalable’s cash deposits are additionally covered up to EUR 100,000 under the German deposit guarantee.

Which has better ETF savings plans?

Scalable Capital. It offers free execution on all ETF savings plans starting from EUR 1/month, with flexible scheduling options (weekly, bi-weekly, monthly, quarterly). DEGIRO’s savings plan offering is more limited, though its Core Selection ETFs can be purchased with a EUR 1 handling fee.

How does the EU’s PFOF ban affect Scalable Capital?

Germany’s payment for order flow (PFOF) ban takes effect in June 2026. Scalable Capital currently earns revenue from PFOF through trading venues like gettex. The company has obtained a license to operate its own EU stock exchange (EIX) as a long-term response. The impact on user fees remains to be seen, but Scalable appears well-positioned to adapt.

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