Please note that the following answer only applies to clients residing in Germany.
Credit is an individual credit line up to which the Broker account may be overdrawn (so-called 'granted overdraft'). This means you can borrow money in order to trade or pay out. The exact amount available at a given point in time depends on the securities in your Broker account.
Interest only accrues over time on the amount actually borrowed and used. It is variable and calculated quarterly.
Please consider the following:
- The securities serve as collateral for the amount borrowed. If their value falls, the total credit line is reduced accordingly.
- If the credit limit is overdrawn (e.g. due to a decline in the value of the collateral), the credit must be reduced accordingly by depositing money or selling securities. This may be associated with price losses (incl. total loss).
- Additional costs may be incurred if the credit limit or line are overdrawn through interest for the tolerated overdraft and/or default interest.
- Scalable Capital may terminate the securities account incl. Credit and demand immediate full repayment.
- You can get an overview of the credit conditions at Scalable at any time in the app or on the web in the Credit tab.
Credit offer of Scalable Capital Bank GmbH, Seitzstr. 8e, 80538 München. Only available in connection with a Scalable Broker account and up to €100,000. Your securities are used as collateral for the loan. These securities can fall in value or become worthless. This may require repayment of the loan and/or the sale of securities. Please consider the special risk of credit-financed investments.