Flatex
★★★★★3.8/5
Strengths
- Many Trading Venues
- Options & Futures
- Tax-Simple for Austria
- Demo Account
Weaknesses
- Higher Order Fees
- Savings Plan Not Free
Best for
Austrian Investors
Go to Flatex →* Affiliate link · no extra cost for you
Broker Comparison 2026
Flatex vs. Scalable Capital
Detailed comparison of all fees, features, and suitability — updated for 2026.
Flatex
vs
Scalable Capital
Our Recommendation
Flatex is the better choice for Austrian Investors, while Scalable Capital wins for Active Traders. Which one suits you depends on your strategy — the detailed comparison below shows every difference.
Numeric Comparison
| Metric | Flatex | Scalable Capital | Difference |
|---|---|---|---|
| Order fee per trade | 5.90 € | 0.99 € | 4.91 € cheaper at Scalable Capital |
| 10y savings plan cost @ €100/month | 708 € | 0 € | 708 € cheaper at Scalable Capital |
| Interest on €10,000 cash (1 year) | — | 2.60 % = 260 € | +260 € more at Scalable Capital / year |
| Free ETF savings plans | 0 | 2.400 | +2.400 more at Scalable Capital |
| Available exchanges | 6 | 2 | +4 more at Flatex |
| BMInsider rating | 3.8/5 | 4.2/5 | +0.4 at Scalable Capital |
Bottom line: on €10,000 cash Scalable Capital earns about 2.600 € more interest over 10 years.
Scalable Capital
★★★★★4.2/5
Strengths
- Flat-Rate Model for Active Traders
- Xetra Access
- Free Savings Plans
- Prime+ with Interest on Cash
Weaknesses
- Flat Rate Costs Extra
- Few Exchanges
Best for
Active Traders
Go to Scalable Capital →* Affiliate link · no extra cost for you
Detailed Comparison
All fees, products, and platform features compared side-by-side. The "Winner" column shows which broker leads in each category.
| Feature | Flatex | Scalable Capital | Winner |
|---|---|---|---|
| Fees & Costs | |||
| Order Fee | 5.90€ + Börsengebühr | 0.99€ or flat rate from 4.99€/Month | Scalable Capital |
| ETF Savings Plan Fee | 1.50€ | 0€ | Scalable Capital |
| Account Fee | 0€/Year | 0€ (Free) / 4.99€/Mo (Plus) / 9.99€/Mo (Premium) | Tie |
| Minimum Deposit | 0€ | 0€ | Tie |
| Interest on Cash | 0% | 2.6% (Plus/Premium) | Scalable Capital |
| Product Range | |||
| Stocks | Tie | ||
| ETFs | Tie | ||
| Crypto | Scalable Capital | ||
| Options | Flatex | ||
| CFDs | Tie | ||
| Fractional Shares | Scalable Capital | ||
| Number of Exchanges | Xetra, Frankfurt, Wien | gettex, Xetra | Flatex |
| Platform & Tools | |||
| Mobile App | Tie | ||
| Desktop Platform | Tie | ||
| Demo Account | Flatex | ||
| Security & Regulation | |||
| Regulated by | BaFin / FMA | BaFin | Tie |
| Deposit Protection | 100.000€ | 100.000€ | Tie |
| Founded | 2006 | 2014 | Tie |
| Overall Rating | |||
| Rating | ★★★★★ | ★★★★★ | Scalable Capital |
Which Broker for Whom?
Depending on your strategy and experience, one broker fits better. Here's how to decide:
For Beginners
Scalable Capital
Low barriers, simple app, demo account and no hidden costs — perfect to get started.
More about Scalable Capital →For Active Traders
Scalable Capital
Low per-order fees, many trading venues and derivatives access — important if you trade regularly.
More about Scalable Capital →For Long-Term Investors
Scalable Capital
Free savings plans, interest on cash and no custody fee — what matters when you buy & hold.
More about Scalable Capital →Detailed Assessment
Who is Flatex?
Flatex is especially popular in Austria as a tax-simple broker with access to many exchanges and derivatives.
Strengths in Detail
- Many Trading Venues
- Options & Futures
- Tax-Simple for Austria
- Demo Account
Weaknesses
- Higher Order Fees
- Savings Plan Not Free
- No Interest on Cash
- No Crypto
Who is Flatex worth it for?
Particularly suitable for: Austrian Investors, Options Trading, Many Exchanges.
Who is Scalable Capital?
Scalable Capital offers a flat-rate model from €4.99/month for unlimited trades. With Xetra access and free savings plans, a good choice for active investors.
Strengths in Detail
- Flat-Rate Model for Active Traders
- Xetra Access
- Free Savings Plans
- Prime+ with Interest on Cash
Weaknesses
- Flat Rate Costs Extra
- Few Exchanges
- No Options
Who is Scalable Capital worth it for?
Particularly suitable for: Active Traders, Savings Plan Investors, Beginners.
Flatex vs Scalable Capital — traditional depot bank vs hybrid neo-bank
Flatex (founded 1999, Kulmbach) and Scalable Capital (founded 2014, Munich) are both BaFin-regulated DACH-focused brokers — but they sit at opposite ends of the spectrum. Flatex is a traditional full-service Direktbank: 12+ German exchanges, Wien direct access, real Stop-Limit/OCO orders, Eurex options, telephone support. Scalable is a hybrid neo-bank: app + web, gettex/Xetra, two-tier subscription model (Free at €0.99 per order; PRIME+ at €4.99/month with €0 commission).
The honest framing: Flatex is built for users who place a few large orders per year and value execution depth. Scalable is built for users who place many small-to-medium orders per month and value cost predictability via the flatrate. The choice depends on monthly trading frequency.
When Flatex is the better pick
You trade Austrian stocks (Wien) regularly. Flatex offers direct Wiener Börse access. Scalable does not — Wien-listed stocks must be traded via gettex's secondary listing where spreads are 0.10–0.30 % wider. For OMV, Verbund, Erste at €5 000+ orders, the spread savings on Flatex are €5–€15 per trade.
You handle large orders (€10 000+) on illiquid mid-caps. Flatex's smart-routing across Tradegate, Quotrix, Xetra, regional venues finds the best price; Scalable routes to gettex/Xetra only. On a €25 000 mid-cap order, the price-improvement on Flatex's smart-routing can save €30–€80 versus a single-venue execution.
You need real order types — Stop-Limit, OCO, Trailing-Stop on multiple legs. Flatex supports complex order structures including bracket orders. Scalable's order types are basic (Market, Limit, Stop-Loss).
You trade Eurex options regularly. Flatex offers full Eurex retail access — DAX/Bund options and futures. Scalable does not offer options.
You value telephone support and a long-tenured German Direktbank brand. Flatex has 25+ years of Direktbank experience and offers full telephone customer service. Scalable's support is chat-first.
When Scalable Capital is the better pick
You trade more than 6 orders per month. Scalable PRIME+ at €4.99/month gives you €0 commission on every order on gettex and Xetra — break-even at 6 orders versus the €0.99 pay-per-trade Free tier. Flatex stays at €5.90 + venue fees per order regardless of frequency. For active investors, the math heavily favors Scalable PRIME+ above 6 orders/month.
You want fee-free ETF savings plans on hundreds of ETFs. Scalable offers €0 savings plans on >2 000 ETFs from €1 minimum. Flatex's savings plans cost €1.50 per execution outside the partner-program ETFs (a smaller catalog). For a 3-fund Bogleheads setup, Scalable saves ~€450/year over Flatex.
You want web + app + desktop unified. Scalable's interface stack is modern, fast, and identical across web/app. Flatex's WebFiliale is functional but feels generationally older — the order ticket and chart interactions are less polished.
You hold idle cash and want a yield. Scalable PRIME+ pays approximately 2.6 % p.a. on idle EUR cash (rate variable). Flatex pays 0 % on the trading account; their separate Tagesgeld product has its own terms and currently lower rate.
You want crypto + fractional shares in one BaFin-regulated account. Scalable supports both. Flatex does not offer spot crypto and has limited fractional-share support.
Taxes — DACH specifics
Germany — both steuereinfach. Flatex and Scalable both withhold 25 % KESt + 5.5 % Soli + optional Kirchensteuer at source. Both apply Sparerpauschbetrag automatically. Loss carry-forward is per-broker.
Austria — Flatex Austria is austriakonform; Scalable is not. Flatex Österreich (operated via flatexDEGIRO Bank AG, Austrian branch) automatically withholds the Austrian 27.5 % KESt at source — no FinanzOnline reporting for ordinary stock trades. Scalable in Austria is a non-austriakonformer Broker: every transaction must be self-reported via Anlage E1kv. Vorabpauschale, dividend tax credits, US W-8BEN withholding all need manual treatment.
Vorabpauschale 2026: Both apply Vorabpauschale automatically on January 2 by debiting the cash account. Both expect ~0.5–1 % of accumulating ETF position value in cash at year-end.
Quellensteuer on US dividends: Both file W-8BEN; the standard 15 % US withholding is creditable against German KESt automatically. For Austrian Flatex clients, the credit is also automatic.
Eurex-options tax handling: Flatex supports Eurex options; Eurex options gains/losses are subject to the controversial €20 000 Verlustverrechnungstopf cap. Scalable does not offer options, so this consideration does not apply.
Cost example — €15 000 active investor over 10 years
Profile: 1 monthly ETF savings plan at €100, 8 manual one-off purchases per month at €500 each, average €5 000 idle cash buffer.
| Item | Flatex | Scalable PRIME+ |
|---|---|---|
| 120× savings-plan execution | €180 (€1.50 each) | €0 |
| 960× manual orders €500 | €5 664 (€5.90 each) | €0 |
| Venue fees | €960 (40× €1 venue) | €0 |
| PRIME+ subscription (10 yrs × 12 mo) | €0 | €598 |
| Cash interest (€5 k × 10 y × rate) | €0 | +€1 300 (2.6 %) |
| Net 10-year cost | €6 804 | −€702 |
The €7 506 difference is enormous — almost half the original €15 000 capital — and entirely explained by the per-order commission gap at this trading frequency. For an 8-orders-per-month trader, Scalable PRIME+ is structurally the right answer.
The Flatex case becomes competitive only at low trading frequency (1–2 orders/month) where the PRIME+ subscription cost outweighs the savings, OR at large illiquid mid-cap orders where Flatex's smart-routing saves more in spread than the commission gap. For occasional Wien-stock trading, Flatex Austria's austriakonformer status alone justifies the choice for AT residents.
Verdict by investor profile
Beginner with monthly savings plan only
Pick: Scalable Free. The €0.99 commissions for occasional manual buys plus €0 savings plans are good enough; PRIME+ is overkill at this scale. Flatex's €5.90 commissions are punitive for small contributions.
Active investor 8+ manual orders/month
Pick: Scalable PRIME+. The flatrate breaks even at 6 orders and saves real money for anyone running monthly rebalances or satellite buys. Flatex is structurally too expensive at this frequency unless you trade illiquid mid-caps where execution quality dominates commission.
Austrian resident with €100 k+ portfolio
Pick: Flatex Austria. The austriakonformer status alone justifies the choice — manual FinanzOnline reporting on every trade quickly becomes more expensive than the commission difference vs Scalable. Pair with Scalable Free if you want fee-free EU savings plans on the side.
Eurex options trader
Pick: Flatex (or upgrade to IBKR). Scalable does not offer options. Flatex supports retail Eurex access; for occasional options strategies it is the right answer.
Wien-stock investor
Pick: Flatex. Direct Wien access for OMV/Verbund/Erste with proper limit-order support beats Scalable's gettex routing for these specific instruments.
Frequently Asked Questions
Answers to the most common questions about Flatex vs Scalable Capital.
For order fees, Scalable Capital leads at 0.99€ oder Flatrate ab 4.99€/Monat, while Flatex charges 5.90€ + Börsengebühr. Note: with CFD brokers, spreads add hidden cost — the lower nominal price isn't always cheaper overall.
Flatex is regulated by BaFin / FMA, Scalable Capital by BaFin. Both fall under EU oversight. Deposit protection: Flatex 100.000€, Scalable Capital 100.000€.
For German/Austrian customers, language, BaFin regulation and tax-simple status often matter most. Check the 'Regulated by' and 'Languages' rows — DACH-focused brokers usually have the edge.
Scalable Capital offers free ETF savings plans from 1€. If a savings plan matters to you, that's a clear edge.
Both are covered under their home regulator's deposit protection. Flatex: 100.000€, Scalable Capital: 100.000€. Securities are held in segregated accounts and protected in case of broker insolvency.
Scalable Capital leads on cash interest at 2.60%. Watch the conditions — some brokers require a paid plan or cap the amount.
Both offer native mobile apps with good app-store ratings. Which is better depends on your needs — try both with a demo account if available.
A second broker makes sense when one offers features the other lacks (e.g. options, crypto, more exchanges). A full switch is only worth it if the cost difference or missing features are significant.
Ready to Get Started?
Sign up with the broker that fits your strategy. Both are regulated and offer a demo account to test risk-free.