In this article I will tell you how to sign up for Scalable Capital in a detailed step by step manner. This is an updated version of our previous blog post for 2022, covering some key changes to Scalable Capital.
What is Scalable Capital?
Scalable Capital is a German Neo-Broker that allows you to buy or sell Stocks and ETFs.
You need to open a Depotkonto on Scalable Capital to start investing. A depotkonto (depot) is nothing but a Securities Account. With a quick Registration process, and a user-friendly interface, Scalable Capital is the best place for you to open your Depot in Germany.
Before getting into the step by step sign up process,let us to take a look at the very simple requirements to open a depot.
Requirements to Sign up for Scalable Capital
Firstly, it is necessary to clarify that this article is mainly written for those who are residing in Germany. Both natives and expats! However, you can still open an account with Scalable Capital, even if you do not live in Germany. But you will have to meet the following requirements:
- You are at least 18 years old.
- If you are not taxable in the USA (not a “US person” under US tax law).
- You don’t live in Switzerland.
- You have a current account in the SEPA area.
Major Changes to Scalable Capital – What are they?
Scalable Capital is a company that is always working to get better. Through innovations and changes, they have retained the top spot as the best broker in Germany for 2021. Let us take a look at some of the recent, major changes :
July, 2021 – Scalable Capital adds 300,000 Derivates products
August, 2021 – Lowers fee for all Savings Plans
November 2021 – Reduces minimum investment amount for Savings Plans (20€)
December 2021 – Crypto Offering
December 2021 – Scalable Capital’s German website is now also in English!
Above list shows that there is always a change in the right direction. This is why I consider Scalable Capital to be the best German broker. Especially with the last addition, it is easier for expats in Germany. So it makes sense to open your depot with the best option out there!
How to sign up for Scalable Capital – Step by Step(2022)
So how do you sign up for Scalable Capital? We have got it covered! All you have to do is scroll through for a detailed, step-by-step guide on how to open your Depot with Scalable Capital.
Step 1 – Visit the Scalable Capital Sign up website
Firstly, we start off with a simple step. But it is important that you make sure to be on the right website. You can visit the official, English sign-up page for Scalable Capital using the link below:
Step 2 – Sign up for Scalable Capital with your email ID
Once you land on the page above, you should proceed by clicking ‘Sign up’ or ‘Open Account’. Enter your email ID that you use for common banking purposes, and register. Then you will receive a notification to your inbox right after you register. This will ask you to ‘verify your email ID’. Refer to the images below for example.
You can now open your inbox, and find the email from Scalable Capital Team. Verify your email ID to proceed further.
Step 3 – Choose the right product and the plan for you
The following two steps are important, as you are going to be choosing the right product and the right plan for you. Scalable Capital also offers a wealth management service for German residents. But we are now looking to sign up for the Scalable Capital Broker to open our depot. Choose the broker.
Subsequently, you will see 3 different plans to choose for your broker. FREE Broker, PRIME Broker, PRIME Broker FLEX. These are the 3 plans offered by Scalable Capital. The plans differ with pricing and its services. In fact I have written a detailed blog posts comparing the different products of Scalable capital, and their pricing. Take a look at the blog post by clicking the link below!
Step 4 – Filling out your Personal Information
This is a step that you should be very careful with!
Once you choose your plan, you will be taken to a page where you need to fill out your Personal information such as Name, Title, Marital status, Citizenship, Address and your IBAN Number. You will also have to make your first deposit to get started with the Depot. For new investors, it is better to start off with a small amount. An ideal amount of money to start off your investment would be 25 Euros, as that is the minimum amount needed to start a savings plan.
Check all the information you have entered thoroughly. Upon agreeing to the Terms and Conditions, you will be redirected to the Identity Verification stage.
Step 5 – Verification
You can proceed with the identity verification by downloading the Postident app on your mobile phone. Enter a 12 digit Verification number, which as a result will be displayed from your Scalable Capital App.
Alternatively, it will be better to watch this video of mine to get a better understanding of the personal verification step.
After this step, you are all set!
Congrats! You now finally have finished the registration process for opening your Depot with Scalable Capital.
Now it is just a few days for your Depot to be activated, so sit back and realx !
In conclusion, we can say that the sign up process for Scalable Capital is fairly easy. I have illustrated the steps as much as possible, and also attached a video for reference. Did you find this blog post useful? Do let me know in the comments !
Check out our other related blogs!
Finally if you have any doubts, feel free to drop it in the comment section. Meanwhile if you have any topic suggestions for me to write about, I am keen to hear that too!
Can a PhD student with 18 D type visa open this account?
Hi Bharat! Thanks for the tutorial. I successfully completed my application to open my Scalable Capital depot through you, identified myself, but the verification of my identity through the Postident app failed. I went to the nearest post office to me and got it confirmed yesterday with the Codes and Coupon I received from Scalable Capital. I am still expecting an Email from Scalable Capital to enable me complete the full information required. Why is the Email taking so long?