Alpaca Trading Logo
Written by: Ádám N. Updated: Dec 2022
Expert verified
Recommended for
  • beginners
  • equity trading
Trusted broker
Regulated by top-tier financial authorities
Popularity
13,593 people chose this broker in the last 6 months
BrokerChooser Score
4.7/5

Alpaca Trading review summary

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.

Alpaca Trading is a regulated broker, it is overseen by a top-tier financial regulator in the USA . Alpaca Trading is also covered by investor protection and it offers negative balance protection in selected jurisdictions. We at BrokerChooser always test brokers with real money, including the withdrawal process.

Alpaca Trading is available in United States

Alpaca Trading pros and cons

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

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
To read much more details about the broker's services and features, expand on the sections below.

Alpaca Trading review
Fees

4.8
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

4.8
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

1.8
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

3.7
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

4.2
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

2.6
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

5.0
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

3.7
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

5.0
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

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Alpaca Trading review
FAQ

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Author of this review

Ádám Nasli

Author of this review

Ádám worked in banking and investment, and holds a professional degree in this field. He is a motivated finance expert, having joined BrokerChooser in 2018. He's also eager to help people find the best investment provider for them, and to make the investment sector as transparent as possible. In his spare time, he loves learning new things, especially data science, algo trading, programming and trading.

Ádám Nasli

Analyst Head

Ádám worked in banking and investment, and holds a professional degree in this field. He is a motivated finance expert, having joined BrokerChooser in 2018. He's also eager to help people find the best investment provider for them, and to make the investment sector as transparent as possible. In his spare time, he loves learning new things, especially data science, algo trading, programming and trading.

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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