Alpaca Trading Logo
Written by:
Fact checked by:
Updated:
May 2023
Recommended for
  • beginners 4.4/5
  • equity trading 4.3/5
Trusted broker
  • Top-tier regulation in the US
  • Compensation in case of broker bankruptcy (terms apply)
Popularity
29,641 people chose this broker in the last 6 months

Our take on Alpaca Trading

Alpaca Securities LLC is US-based broker providing commission-free API stock trading. Alpaca Trading provides great API tools for algorithmic trading, zero-commission stock and ETF trading, and great charting tools through a web platform. Users dedicated to learning how to use the API and the programs will find that Alpaca provides a unique service. It is a good choice for beginner investors. On the other hand, Alpaca Trading relies heavily on its GitHub/Slack/other community forums for user support, as there is only extremely limited customer service. Furthermore, deposit or withdrawal is only possible via bank transfer. Finally, the product selection covers only US stocks and ETFs. BrokerChooser gave Alpaca Trading a 4.7/5 rating based on analyzing 500+ criteria and testing via opening a live account.

BrokerChooser score
4.7 4.7 /5
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Alpaca Trading is available in United States
Stock fee
Low
Fractional shares
Yes
Minimum deposit
$0
Inactivity fee
$0
Pros
Cons
Great API trading service
Customer support limited to email
Free stock & ETF trading
Limited deposit and withdrawal options
Fantastic charting tools
Only US stocks and ETFs available
Expert opinion
“I recommend Alpaca Trading for traders interested in algorithmic stock trading.”
Gergely Korpos
Co-founder / CPO

Alpaca Trading main highlights

🗺️ Country of regulation USA
💰 Trading fees class Low
💰 Inactivity fee charged No
💰 Withdrawal fee amount $0
💰 Minimum deposit $0
🕖 Time to open an account 1 day
🎮 Demo account provided Yes
🛍️ Products offered Stock, ETF, Crypto

Alpaca Trading summary

Fees
4.9
Account opening
4.8
Deposit and withdrawal
1.8
Web trading platform
3.7
Mobile trading platform
4.2
Desktop trading platform
Markets and products
2.6
Research
5
Customer service
3.7
Education
5
Safety
To read much more details about the broker's services and features, expand on the sections below.

Alpaca Trading review
Fees

Score: 4.9/5
+
Alpaca Trading offers zero-commission stock and ETF trading and low margin rates. Non-trading fees are also competitive as no fee is charged for inactivity or most withdrawals.
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Alpaca Trading review
Account opening

Score: 4.8/5
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Opening an account with Alpaca is quick, and requires no minimum deposit. Integrating your account with third-party softwares can be tricky, but Alpaca offers great guidance.
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Alpaca Trading review
Deposit and withdrawal

Score: 1.8/5
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Bank transfer deposit/withdrawal is easy and free, but like other US brokers, Alpaca doesn't support multiple currencies or credit/debit card funding, and wire withdrawal is costly. Crypto transfer is available.
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Alpaca Trading review
Web trading platform

Score: 3.7/5
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Alpaca's web trading platform feels safe, user-friendly, and visually pleasing. However, it does not allow customization, there are no price alerts, and the search function is limited.
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Alpaca Trading review
Mobile trading platform

Score: 4.2/5
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The mobile platform is even simpler than the web platform. It is similarly easy to use, but likewise has a poor search function and no price alerts. Logging in can also be complicated.
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Alpaca Trading review
Desktop trading platform

+
Alpaca Trading does not offer a desktop trading platform.
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Alpaca Trading review
Markets and products

Score: 2.6/5
+
Alpaca Trading currently only provides access to US stocks and ETFs. Other asset classes, like options or bonds, as well as international market coverage, are not available.
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Alpaca Trading review
Research

Score: 5/5
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Alpaca provides a highly capable API and great charting tools. You can also find some fundamental data, but unfortunately no trading recommendations.
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Alpaca Trading review
Customer service

Score: 3.7/5
+
Alpaca Trading has great user community forums where developers can easily get help, but its own email support is mediocre, while phone support and live chat are missing entirely.
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Alpaca Trading review
Education

Score: 5/5
+
Alpaca offers videos and step-by-step guides for investing, algorithm trading and use of their API, including detailed manuals and FAQs for beginners.
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Alpaca Trading review
Safety

+
Alpaca Trading is overseen by top-tier US regulators and comes with strong investor protection, but its lack of a banking license or a public listing means less transparency.
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Alpaca Trading review
Bottom line

Alpaca Trading is a great broker for traders looking to build their own algorithms and focusing on the US market.

Its API tools are outstanding, and fees are low: zero stock/ETF commission, and no inactivity or deposit fees. In addition, Alpaca provides free access to software such as Polygon, Alpha Vantage and TradingView, all of which have great research capabilities.

On the negative side, Alpaca has limited customer support, meaning that users must often turn to GitHub and other community forums for suggestions or peer help to debug code. Among other shortcomings, you can use only bank transfer to deposit or withdraw, while Alpaca only provides access to US stocks and ETFs.

Overall, Alpaca is an up-and-coming broker that is unique in its current space and provides a great product for traders from all experience levels who are interested in algo trading. If you are looking for a strong and savvy API stockbroker, try Alpaca and see what the hype is about.

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Alpaca Trading review
FAQ

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Author of this review

Adam Nasli

Author of this review

Adam is a motivated finance expert. He is one of the first hires at BrokerChooser and has since tested almost all 100+ brokers covered by BrokerChooser. Adam holds a professional degree from CEU and he helps teach finance and programming courses at his alma mater. Previously he worked in the banking sector, including at Citi Bank. He loves researching the financial industry, managing his long-term investments, and trading with algorithms.

Adam Nasli

Analyst Head

Adam is a motivated finance expert. He is one of the first hires at BrokerChooser and has since tested almost all 100+ brokers covered by BrokerChooser. Adam holds a professional degree from CEU and he helps teach finance and programming courses at his alma mater. Previously he worked in the banking sector, including at Citi Bank. He loves researching the financial industry, managing his long-term investments, and trading with algorithms.

Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology

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