Scalable Capital Reviews 

Scalable Capital is closing accounts of Russian citizens with permanent residency in Germany, apparently as a broad de-risking measure rather than because of any individual wrongdoing.

What worries me most is the principle behind it: today one social group may simply be considered too expensive or inconvenient from a compliance perspective; tomorrow it could be another nationality or customer category.

For a company that expects customers to trust it with their investments for decades, this creates the opposite impression of stability. If long-standing customers can be removed because servicing their group becomes commercially unattractive, I have serious doubts about relying on Scalable Capital for long-term financial planning.

This is not the kind of predictability or customer treatment I expect from a German financial institution.

Agreement terminated one-sided without a realistic opportunity to battle the decision. Termination was a result of an algorithm discriminating against a specific group of people by a trait those people have no control over - a clear violation of German law.

It took forever. I added all necessary documents but the app claimed my address info did not match, and asked for proof of address registration.
My address certainly did match and there was nowhere I could add the proof of registration. I had to wait to hear from customer service for a couple of weeks as well. Very inefficient process and definitely does not match the convenience the competitors offer

They are closing my account without a proper explanation, forcing me to sell or transfer everything within a short time frame. (I believe all my documents are in order.)

I consider Scalable Capital an unreliable broker, especially for non-EU citizens.

They opened my account, completed all compliance checks and accepted my investments. Then, after 1.5 years, they suddenly terminated the relationship, referring to EU sanctions and later admitting that I am not personally sanctioned, but that additional monitoring is simply too costly for them. I was also told that having EU citizenship could change the situation.

In my view, this is discriminatory treatment based on citizenship. I am a legal EU resident and have never violated any rules.

Customer support is practically non-existent. Emails regularly go unanswered, and finding a telephone number to actually speak to someone is nearly impossible.

For a long-term investor, this is unacceptable. A broker that accepts your assets today and forces you to transfer or sell them 1.5 years later because your citizenship has become commercially inconvenient cannot, in my experience, be considered reliable.

Completely unacceptable discriminatory mass account closures. Hope their butts get sued to the ground.

To be fair - the "brokering" experience is actually pretty good 😅

Extremely disappointing and unacceptable experience with Scalable Capital. After being a customer for several years, my account was suddenly terminated without any individual explanation.

This is clearly not an isolated case: many customers legally residing in the EU have received similar account terminations, apparently based on their nationality, despite holding permanent EU residence permits and not being personally sanctioned.

Customers are now being forced to transfer their long-term investments to another broker and sell positions that cannot be transferred - regardless of their investment strategy or whether they ever intended to sell.

I would never recommend Scalable Capital for investing or retirement savings. If a broker can suddenly terminate accounts based on nationality and force customers to reorganize or partially liquidate portfolios they intended to hold for decades, I see absolutely no reason to trust it with long-term financial security.

Scalable Capital decided to join a list of brokers that close brokerage accounts based on a client origin.

So you automatically opened a support case to let customers upload documents about nationality change, also you explicitly mention that EU passport is what may change your mind. I guess there is no need to be a genius to figure out that Scalable Capital closes accounts based on a single attribute - your nationality.

BafIn was already informed about what you've done.

Zero star is well-deserved.

Just closed an account without any explanation, even though I hold a valid german permanent residency permit

Scalable Capital is closing my account because of my non-EU passport, although I have held a German Niederlassungserlaubnis and lived legally and permanently in Germany for many years.

There is no EU or German rule requiring this closure. On the contrary, the European Commission has clarified that sanctions do not justify account restrictions based only on nationality and that permanent residents are exempt.

This appears to be Scalable Capital’s own discriminatory initiative - not a legal requirement. They refuse to explain themselves or provide any legal basis. Potentially unlawful, against basic EU principles and absolutely unacceptable. Avoid this platform.

This time Scalable Capital decided to ban accounts for Russian and Belorussian people, even if they have a valid residence permit.
What a shame!

They are closing my account because I have Russian passport, even when having the permanent residence. I live in Germany since 2019, and never been in Russia since then. For me it is a pure discrimination.
I will never trust this company again.

Today I received a very disappointing email informing me that Scalable Capital is forcefully closing my accounts because I am not an EU citizen—even though I am a permanent resident of Germany.

Scalable Capital claims this is due to sanctions, but there are no sanctions that generally target permanent residents of EU countries simply because they are non-EU citizens.

If you want to invest with a company that treats customers this way, that’s your choice. As for everyone else, I would recommend staying away from a company that appears to discriminate based on citizenship while misrepresenting the legal basis for its decision.

I went through a complicated registration process that took months, only to have my account closed a little over a year later because permanent residence isn't sufficient documentation—citizenship is the only requirement. I don't recommend this to people without citizenship, unless you want to waste your time for nothing.

Account closure for no reason, terrible customer service

It took 1 month to get an account opened. Reason? Customer service too busy. I had to remind several times to review my application.

The worst broker. You can't rely on them at all – and remember, that's the money for your pension

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Scalable misinformed me about the proof of address requirements, so my documents were rejected. They then insisted I re-upload new documents, but then provided literally no way to do that - no email address, no functionality in the app, absolutely no way (I am a tech professional and I searched exhaustively). I had to wait over a week until an automated email arrived with a link. This meant a very long and drawn-out onboarding period - far from smooth. Even when this was resolved and my account opened and funded, I continued to receive automated emails bugging me to upload the documents I already uploaded. And, in terms of making my first investments, instruments are very hard to find - there is no way to browse by categories and the search functionality is very poor, just a straight exact-match search of the name, ISIN, etc. You can search for "japan" and never see 100 results that have 'Nikkei' in the name.

I requested a withdrawal and my funds were frozen/unavailable for an unjustified period of 8 weeks! with no clear communication on timing or the reason for the delay. A regulated broker should guarantee transparent execution times and prompt access to client funds, not leave customers in the dark. This experience undermines trust in the platform and raises questions about how withdrawals are operationally handled.