Alpaca Trading Logo

Alpaca Trading Review 2024

Written by
Adam N.
Fact checked by
Gyula L.
Updated
1d ago
Key data
Fees
Safety
Deposit and withdrawal
Account opening
Mobile app
Web trading platform
Product selection
Regulated and trusted. Tested via live trading.
21,659 people chose this broker
Available in United States

Why choose 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, ETFs and crypto.

BrokerChooser gave Alpaca Trading a 4.4/5 rating based on analyzing 600+ criteria and testing via opening a live account.

  • Great API trading service
  • Free stock & ETF trading
  • Fantastic charting tools
Overall score
4.4/5
Minimum deposit
$0
Stock fee
Low
Inactivity fee
no
Account opening
1 day
See what others are saying
Browse the discussions in our forum to read first-hand opinions and to share your own!
Not sure if this is the right broker for you? See the best ones.

Fees

Score: 4.6/5
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.
  • Commission-free stock and ETF trading
  • No inactivity fee
  • No withdrawal fee

We compared Alpaca Trading's fees with two similar brokers we selected, moomoo and Webull. These competitors were selected based on objective factors like products offered, client profile, fee structure, etc. See a more detailed comparison of Alpaca Trading alternatives.

Commission-free stock and ETFs

It’s extremely great as Alpaca Trading has commission-free US stock trading.

Broker
US stock
Alpaca Trading
$0.0
moomoo
$0.0
Webull
$0.0
Alpaca Trading stock and ETF commission

Low margin rates

Alpaca Trading USD margin rate fees are lower than the industry average. USD margin rate fees are calculated as follows: Flat Rate of 8.5%

Broker
USD margin rate
Alpaca Trading
8.5%
moomoo
6.8%
Webull
9.7%
Alpaca Trading annual margin rates

No inactivity fee, high withdrawal fee

There are no fees for inactivity or account maintenance, and deposits are also free.

ACH withdrawals are free of charge, but wire withdrawals will cost $25 for domestic and $50 for international transfers.

Broker
Inactivity fee
Withdrawal fee
Alpaca Trading
$0
moomoo
$0
Webull
$0
Alpaca Trading inactivity, withdrawal and other fees

Other commissions and fees

Low spot crypto fees: at Alpaca Trading, crypto trading costs 0.25% of trade value.

Broker
Mutual fund
US micro e-mini stock index futures
Alpaca Trading
-
-
moomoo
-
-
Webull
-
-
Misc. fees compared with other brokers

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.
  • Majority of clients belong to a top-tier financial authority
  • High level of investor protection
Read more

Deposit and withdrawal

Score: 1.2/5
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.
  • Free withdrawal
  • No deposit fee
  • User-friendly
Read more

Account opening

Score: 5/5
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.
  • Fast
  • Fully digital
  • No minimum deposit
Read more

Mobile app

Score: 4.2/5
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.
  • User-friendly
  • Two-step (safer) login
  • Order confirmation
Read more

Web trading platform

Score: 3.7/5
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.
  • User-friendly
  • Two-step (safer) login
  • Modern design
Read more

Product selection

Score: 2.4/5
Alpaca Trading currently only provides access to US stocks, ETFs and crypto. Other asset classes, like options or bonds, as well as international market coverage, are not available.
Read more
“I recommend Alpaca Trading for traders interested in algorithmic stock trading.”

FAQ

Read more
Got questions?
Engage with our growing community of traders and investors like you to find your answers.
Join now

Author of this review

Adam Nasli

Financial Wizard | Trading • Safety • Market Analysis

I bring extensive financial expertise as one of BrokerChooser's earliest team members. Personally, I tested nearly all 100+ brokers on our site, opening real-money accounts, executing trades, assessing customer services, and providing firsthand assessment. My professional background includes roles in the banking sector and a degree from Central European University, where I teach finance. My passions lies in in-depth research of the financial industry, building trading algorithms, and managing long-term investments.

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.

Follow us

Regional settings

×
I'd like to trade with...