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Scalable Capital deploys its online broker services in Spain

The digital investment platform, Scalable Capital has just reached Spain in order to deploy its services. With Scalable Broker and Scalable Crypto, the company introduces comfortable and profitable investment plans in stocks and exchange-traded funds (ETFs), as well as in cryptocurrencies, for Spanish retail investors. Regulated by the German financial supervisory authority BaFin, Scalable Capital offers a complete secure and innovative brokerage service.

Erik Podzuweit, Founder and Co-CEO of Scalable Capital: “In recent years, the Spanish economy has grown again, with an unemployment rate that has decreased and a savings rate that has increased. More and more people are able to save and invest for their future. Our complete and easy-to-use online trading platform aims to attract the Spanish investor. The investment must be simple and for everyone. By offering accounts with no minimum investment and no hidden fees, we want to empower investors to participate in economic growth. Anyone thinking of investing should think of Scalable Capital.”

A complete service offer at an innovative price

Scalable Broker offers Spanish clients a full service brokerage. They have access to more than 6,000 stocks from around the world, including Spanish blue chips, US tech stocks and Asian growth stocks. Since all trades are directed to regulated European exchanges and settled in euros, no foreign exchange commissions are incurred. Investors can diversify their investment across more than 1,600 ETFs and 2,300 mutual funds, as well as major cryptocurrencies. The broker offers the largest universe of ETFs that adhere to environmental, social and governance (ESG) criteria and follow socially responsible investing (SRI).

Features like a extended trading hours (from 08:00 a.m. to 10:00 p.m.), free and real-time data on prices, alerts and much more come together in a modern and intuitive interface on the web and mobile applications (iOS and Android). The offer is completed with a multi-channel customer service that includes tax reports adapted to Spanish tax legislation.

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Crypto transactions on regulated markets

Scalable Crypto offers a easy, affordable and safe access to investments in crypto through regulated European stock exchanges. Scalable’s crypto offering is the only one that combines the security of trading on a regulated exchange with physical exposure to the crypto asset class. No need to open a wallet or independent wallet or pay for the safe custody of digital currencies. The cryptocurrencies are simply held in the form of securities in the client’s existing brokerage account.

The willingness to invest in the stock market among retail clients is increasing. In a context of low interest rates, more and more investors are turning to the capital markets. Although Spaniards consider savings important, less than 12% of households own shares, according to the National Institute of Statistics (INE). They have most of their financial wealth in cash deposits and savings accounts, according to data from the European Central Bank, compared with Italy, France and Germany.

This gives a sense of security, but in the long term it means a loss of purchasing power, since the value of those savings is eroded by inflation. On the contrary, the growing interest in cryptocurrencies has acted as a gateway to investment in the capital markets. 7% of the Spanish population already owns cryptocurrencies and it is the most sought-after financial product to invest in the future, according to Statista.

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