Oskar Review

Passive ETF investors in Germany

BaFin Deutsche Bundesbank

Founded 2019 · Germany

Why investors choose this broker

No account opening, deposit, withdrawal, or performance fees
Low minimum savings plan of 25 euros per month
Five preset risk portfolios covering equities, bonds, gold and commodities
Automatic rebalancing when allocations drift more than 6%

Review summary

Oskar is a German robo-advisor offering ETF-based portfolios with five risk levels, automatic rebalancing, kids accounts, and ESG options from 25 euros per month.

Pros

No account opening, deposit, withdrawal, or performance fees
Low minimum savings plan of 25 euros per month
Five preset risk portfolios covering equities, bonds, gold and commodities
Automatic rebalancing when allocations drift more than 6%
Dedicated kids account with multi-payer support
ESG screening across 50% of portfolio holdings
Assets held as segregated property at Baader Bank AG

Cons

No individual stock or ETF selection - five preset strategies only
Management fee of 1.0% p.a. is above average for portfolios under 10,000 euros
No demo or paper trading account
Underweight US equities relative to global market cap weighting
Customer support response times of 2-5 business days by email
German-only platform and service - not available outside Germany

Company background

Oskar is a German robo-advisor founded in 2019 and headquartered in Karlsruhe. The platform was built by Dominik Nienhaus, Jens Ohr, and Peter Schille, who previously co-founded finanzen.net. Axel Springer Verlag holds a 44.4% stake in Oskar.de GmbH. Asset management is performed by Scalable Capital Bank GmbH under a BaFin licence, while Baader Bank AG acts as custodian for client securities. The platform targets individual savers and families with product variants including a standard klassik portfolio, an ESG-oriented option, a children's account (Oskar Kids), an employer-sponsored VL savings plan, and a premium Black tier for portfolios above 50,000 euros.

Fees and pricing

Oskar charges a tiered annual service fee based on invested amount. Portfolios below 10,000 euros are charged 1.0% per year, portfolios between 10,000 and 50,000 euros pay 0.8% per year, and portfolios above 50,000 euros pay 0.7% per year under Oskar Black. ETF fund costs average approximately 0.14% per year, embedded in fund prices, bringing total annual costs to roughly 1.14% for smaller portfolios and 0.84% for the highest tier. There are no fees for account opening or closing, deposits, withdrawals, rebalancing, or inactivity, and no performance fees. Savings plans start from 25 euros per month and lump-sum investments require at least 1,000 euros.

Regulation and safety

Oskar.de GmbH operates the platform, while Scalable Capital Bank GmbH holds the asset management licence and is regulated by BaFin and the Deutsche Bundesbank. Client securities are held at Baader Bank AG as segregated assets, legally separate from Oskar's and the custodian's own balance sheets. Cash in settlement accounts is protected by statutory German deposit insurance up to 100,000 euros per customer, with additional voluntary coverage through the BdB deposit insurance fund. Withdrawals can only be directed to the client's pre-registered reference bank account.

Platform experience

Oskar is available via a web application and mobile apps for iOS and Android. Onboarding presents five risk profiles labelled Oskar 50 through Oskar 90, where the number reflects the target equity allocation. Each portfolio holds 10-15 ETFs spanning global equities, bonds, gold, and commodities. Rebalancing triggers automatically when any allocation drifts more than 6% from its target. The Oskar Kids account supports contributions from multiple payers such as parents and grandparents under a single child's account.

Pros and cons

Oskar's main advantages are its low 25 euro monthly minimum, no opening, deposit, withdrawal, or performance fees, automatic rebalancing, and a dedicated children's savings account. The inclusion of gold and commodities across all risk levels is a differentiating feature. The main drawbacks are the higher management fee for portfolios under 10,000 euros, no individual ETF or stock selection, no demo account, and German-only platform availability.

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Trading fees & commissions

Oskar charges a tiered annual service fee of 1.0% for portfolios under 10,000 euros, 0.8% for 10,000-50,000 euros, and 0.7% for 50,000 euros and above, plus approximately 0.14% in average ETF fund costs. There are no account opening, deposit, withdrawal, or performance fees.

Fees

Item	Fee
Account	No account opening or closing fee
Custody	No custody fee charged separately
Deposit	No deposit fee
Inactivity	No inactivity fee
Management	1.0% p.a. for portfolios under 10,000 euros; 0.8% p.a. for 10,000-50,000 euros; 0.7% p.a. for 50,000 euros and above
Withdrawal	No withdrawal fee
Performance	No performance fee

Trading platform & features

Platforms

Oskar Web app
iOS app
Android app

Regulation and investor protection

Oskar.de GmbH operates the platform while asset management is carried out by Scalable Capital Bank GmbH, which is authorised and supervised by BaFin and the Deutsche Bundesbank. Client securities are held in custody at Baader Bank AG and are protected as segregated assets under German law.

Broker FAQs

Is Oskar safe?

Asset management is carried out by Scalable Capital Bank GmbH under a BaFin licence, and client securities are held as segregated assets at Baader Bank AG. Cash is protected by statutory German deposit insurance up to 100,000 euros per customer.

Is Oskar a scam?

No. Oskar is a regulated German fintech founded in 2019. Asset management is performed by Scalable Capital Bank GmbH under BaFin supervision, and client assets are held at Baader Bank AG.

Is Oskar regulated and by whom?

The asset management behind Oskar is carried out by Scalable Capital Bank GmbH, which is regulated by BaFin and the Deutsche Bundesbank. Baader Bank AG, which holds client securities, also operates under BaFin supervision.

Does Oskar keep client funds in segregated accounts?

Yes. Client securities are held as segregated assets at Baader Bank AG under German law, meaning they are legally separate from Oskar's and the custodian's own assets.

What happens to my money if Oskar goes bankrupt?

Client securities are held as segregated assets at Baader Bank AG and are not part of Oskar.de GmbH's balance sheet. In the event of Oskar's insolvency, clients retain ownership of their ETF holdings. Cash in settlement accounts is covered by statutory deposit insurance up to 100,000 euros.

What products does Oskar offer?

Oskar offers ETF-based ready-made portfolios in five risk levels, recurring savings plans, a children's savings account (Oskar Kids), an employer-sponsored savings product (Oskar VL), an ESG-screened option, and a premium tier (Oskar Black) for portfolios above 50,000 euros.

Does Oskar offer ETFs?

Yes. Oskar invests exclusively in ETFs. Each portfolio holds 10-15 ETFs covering global equities, bonds, gold, and commodities, primarily using iShares and BlackRock funds.

Can I choose my own ETFs on Oskar?

No. Oskar offers five preset portfolio strategies. Users select a risk level but cannot choose individual ETFs or adjust the asset allocation beyond selecting a risk profile.

Does Oskar offer a children's savings account?

Yes. Oskar Kids is a dedicated children's savings account that supports contributions from multiple payers, such as parents and grandparents, under a single account.

What does Oskar charge in management fees?

Oskar charges 1.0% per year for portfolios below 10,000 euros, 0.8% per year for portfolios between 10,000 and 50,000 euros, and 0.7% per year for portfolios above 50,000 euros. These fees are charged on top of the ETF fund costs of approximately 0.14% per year.

Is there a withdrawal fee at Oskar?

No. Oskar does not charge a withdrawal fee. Withdrawals are processed to the pre-registered reference bank account.

Does Oskar charge an inactivity fee?

No. Oskar does not charge an inactivity fee.

What is the minimum investment at Oskar?

The minimum for a one-time lump-sum investment is 1,000 euros. Savings plans start from 25 euros per month.

Does Oskar have a demo account?

No. Oskar does not offer a demo or paper trading account.

Does Oskar have a mobile app?

Yes. Oskar provides apps for iOS and Android, available through the App Store and Google Play.

Is Oskar good for beginners?

Oskar is designed for passive, long-term investors with no investment experience required. Users select one of five risk profiles and the platform handles portfolio construction, rebalancing, and ongoing management automatically.

Is Oskar good for long-term investing?

Yes. Oskar's passive ETF strategy, automatic rebalancing, and no minimum holding period make it suitable for long-term savings goals. The Oskar Black tier also offers tax optimisation features for larger portfolios.

Bottom line

Oskar suits users who want a straightforward, low-effort ETF savings plan in Germany, particularly families looking for a children's savings account or investors who prefer a fully managed approach without selecting individual securities. It may not suit users who want to pick their own ETFs or stocks, need a demo account, require a non-German-language interface, or have smaller portfolios where the 1.0% management fee exceeds competitor rates.

Oskar

Passive ETF investors in Germany

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Your capital is at risk. Other fees apply.