The best alternatives to Alpaca Trading are
- moomoo - US zero-fee discount broker
- Webull - US discount broker
- SoFi Invest - US discount broker
- Robinhood - US zero-fee discount broker
Let's see in a bit more detail how the Alpaca Trading alternatives compare to Alpaca Trading and each other:
| Alpaca Trading | moomoo | Webull | SoFi Invest | Robinhood | |
|---|---|---|---|---|---|
| Overall score | 4.7 stars | 4.7 stars | 4.8 stars | 4.7 stars | 4.5 stars |
| Fees score | 4.8 stars | 4.7 stars | 4.8 stars | 5.0 stars | 4.6 stars |
| Account opening score | 4.8 stars | 4.2 stars | 5.0 stars | 4.2 stars | 5.0 stars |
| Deposit and withdrawal score | 1.8 stars | 1.9 stars | 1.9 stars | 2.2 stars | 1.8 stars |
| Web platform score | 3.7 stars | - | 5.0 stars | 3.2 stars | 4.5 stars |
| Markets and products score | 2.6 stars | 2.4 stars | 2.9 stars | 2.2 stars | 2.9 stars |
| Visit broker | Visit broker | Visit broker | Visit broker |
Why are these brokers considered good alternatives to Alpaca Trading? There are many areas based on which Alpaca Trading can be compared with others. When we say a given online broker is a good alternative to Alpaca Trading we mean these brokers are comparable in the following areas:
- The products they offer, meaning you can buy mostly the same things, i.e. stocks, CFDs, options, etc.
- The type of clients they target, i.e. beginners, experienced investors, or day traders.
Alpaca Trading alternatives recommendations
Brokers are different in a number of ways, which means each of them may be suitable for different people. Here's how they compare overall:
- Alpaca Trading is recommended for traders interested in algorithmic stock trading
- moomoo is recommended for investors and traders looking for zero-commission trading and focusing on us markets.
- Webull is recommended for investors and traders looking for zero-commission trading and easy platforms
- SoFi Invest is recommended for beginners and investors looking for zero-commission trading, focusing on the us market
- Robinhood is recommended for beginners and buy-and-hold investors focusing on the us stock market
Important factors of finding Alpaca Trading alternatives
So far BrokerChooser has reviewed 101 online brokers in detail, which gives this comparison a solid starting point.
Not only that, but all of these brokers are reviewed using the exact same broker review methodology, which makes everything easily comparable. For each broker, we
- open a live account
- check over 100 criteria, with weighting based on readers' preferences
- refresh data regularly
Whether Alpaca Trading or one of its alternatives is the best choice for you is on the following five broker characteristics that most interest people:
Fees. There are different types of fees that your online brokerage may charge, and both the number and the size of these fees may vary significantly from broker to broker. Both of these aspects can impact your returns and your overall experience. Alpaca Trading is one of the cheaper brokers, so if this is an important consideration for you, make sure you pick a similarly low-cost Alpaca Trading alternative.
Account opening. To open an account some brokers require at least €50,000 to be invested, while others don't set a minimum first-time deposit. The time it takes to open your account can be very different as well. At Alpaca Trading this is not a problem as you can have it ready on the same day you registered.
Deposit/withdrawal. The number of ways that you can deposit or withdraw money to or from your account matters a lot. For example, while you cannot make a deposit with your credit card at Alpaca Trading, some alternatives might allow you to do that.
Web trading platform. While online brokers are usually available on various platforms like mobile apps, tablet apps or desktop software, most people use them through their web platform in a browser. User-friendly trading platforms that offer many different resources can significantly increase your trading comfort.
Markets and products. A lot of people have specific products they would like to invest in. Knowing whether stocks, forex, mutual funds, and other products are available at the given Alpaca Trading alternative is a must.
Now let's dive into the details of how Alpaca Trading and its alternatives perform in the most important areas!
Alpaca Trading alternatives
moomoo
Moomoo is a trading platform founded in 2018. It is a subsidiary of Futu Holdings Ltd. Securities trading on moomoo is provided by Futu Inc, which is regulated by the US Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA). In Singapore, it is regulated by the Monetary Authority of Singapore (MAS).
Check out our moomoo review tailored to the needs of beginner investors and traders.
Trading on moomoo is considered safe because its securities product is regulated by top-tier financial authorities; and because investor protection of up to $500,000 is offered, including a $250,000 limit for cash, under the Securities Investor Protection Corporation's (SIPC) protection scheme.
Recommended for investors and traders looking for zero-commission trading and focusing on us markets.
| Pros | Cons |
|---|---|
|
• Free stocks, ETFs and options
|
• Limited product portfolio
|
|
• Fast and easy account opening
|
• Only bank transfer for deposit/withdrawal
|
|
• Quality analytical tools and excellent education
|
• No live chat or telephone support
|
Fees
Moomoo offers commission-free trading of US stocks, ETFs and options. On the negative side, margin rates are high.
| Pros | Cons |
|---|---|
|
• Commission-free stocks, ETFs, and options
|
• High margin rates
|
|
• No inactivity fee
|
|
| moomoo | Alpaca Trading | |
|---|---|---|
| Apple benchmark fee | $0.3 | $0.3 |
| Vodafone benchmark fee | - | - |
| EURUSD benchmark fee | - | - |
Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX
Account opening
Moomoo's account opening process is seamless and fully digital, with no minimum deposit. However, it is currently available only for clients from the US and Singapore.
| Pros | Cons |
|---|---|
|
• Fully digital
|
• Available only in the US and Singapore
|
|
• No minimum deposit
|
|
|
• Fast
|
|
| moomoo | Alpaca Trading | |
|---|---|---|
| Minimum deposit | $0 | $0 |
| Time to open account | 1-3 days | 1 day |
If you are interested more in moomoo minimum deposit, this overview will help you.
Deposit and withdrawal
At moomoo, there's no deposit fee, and the funding process is user-friendly. However, you can use only bank transfer to add or withdraw funds, while wire withdrawal fees are high.
| Pros | Cons |
|---|---|
|
• No deposit fee
|
• Credit/Debit card not available
|
|
• User-friendly
|
• Only one account base currency
|
|
|
• High wire withdrawal fee
|
| moomoo | Alpaca Trading | |
|---|---|---|
| Bank transfer | Yes | Yes |
| Credit/debit card | No | No |
| Electronic wallets | No | No |
| Withdrawal fee | $0 | $0 |
Web trading platform
Moomoo does not have a web trading platform.
| moomoo | Alpaca Trading | |
|---|---|---|
| Web platform score | - | 3.7 stars |
| Mobile platform score | 4.5 stars | 4.2 stars |
| Desktop platform score | 4.5 stars | - |
Learn more about moomoo's web trading platform in the detailed moomoo review.
Markets and products
Moomoo's product portfolio is average, offering stocks, ETFs, options, futures and funds. Some other popular asset types such as bonds, forex, CFDs or cryptos are not available.
| moomoo | Alpaca Trading | |
|---|---|---|
| Stocks | Yes | Yes |
| ETFs | Yes | Yes |
| Forex | No | No |
| Funds | Yes | No |
| Bonds | No | No |
| Options | Yes | No |
| Futures | Yes | No |
| CFDs | No | No |
| Crypto | No | Yes |
Verdict
Moomoo's fees are great, as you can trade US stocks, ETFs and options with zero commission. The account opening is easy, fully digital and fast. Moomoo offers quality analytical tools on its user-friendly mobile and desktop platforms. The education is excellent.
Moomoo has some drawbacks, though. The product portfolio is limited, covering only stocks from the US, Hong Kong and China, along with an OK selection of ETFs and options. Among other limitations, you can use only bank transfer for deposits or withdrawals, and customer support is available only via email.
As the account opening process is seamless and moomoo offers commission-free stock and ETF trading, you should feel free to try it via a demo or live account.
| moomoo | |
|---|---|
| Summary | MooMoo is a US-based zero-commission broker. It is overseen by the SEC and FINRA, both of which are top-tier regulators. |
| Fees score | 4.7 stars |
| Recommended for | Investors and traders looking for zero-commission trading and focusing on US markets. |
Alpaca Trading alternatives
Webull
Webull is a US-based fintech startup offering zero-fee or discount brokerage services. Founded in 2017, the company is regulated by the US Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) as well as the Hong Kong Securities and Futures Commission (SFC).
Check out our Webull review tailored to the needs of beginner investors and traders.
Webull is regulated by top-tier financial authorities and provides a maximum of $500,000 in investor protection, including a $250,000 limit for cash under the Securities Investor Protection Corporation's (SIPC) protection scheme, which are all great signs for its safety.
Recommended for investors and traders looking for zero-commission trading and easy platforms
| Pros | Cons |
|---|---|
|
• Free stock, ETF and options trading
|
• Limited product portfolio
|
|
• Fast and easy account opening
|
• Only bank transfer for deposit/withdrawal
|
|
• Great trading platforms
|
• No live chat and poor phone support
|
Fees
Webull offers commission-free trading for US-listed stocks, ETFs and options. There is no withdrawal fee for ACH transfers and no inactivity fee. However, wire transfer fees are high.
| Pros | Cons |
|---|---|
|
• No commission (for stocks, ETFs, options)
|
• High wire transfer costs
|
|
• ACH transfers are free for funding & payout
|
|
| Webull | Alpaca Trading | |
|---|---|---|
| Apple benchmark fee | $0.3 | $0.3 |
| Vodafone benchmark fee | - | - |
| EURUSD benchmark fee | - | - |
Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX
Account opening
Webull's account opening process is seamless, fully digital, and verification takes less than a day. However, the broker only accepts clients from the US and Hong Kong.
| Pros | Cons |
|---|---|
|
• Fast
|
• Mostly for US residents
|
|
• Fully digital
|
|
|
• No minimum deposit
|
|
| Webull | Alpaca Trading | |
|---|---|---|
| Minimum deposit | $0 | $0 |
| Time to open account | 1 day | 1 day |
If you are interested more in Webull minimum deposit, this overview will help you.
Deposit and withdrawal
At Webull, you can use only bank transfer to add or withdraw funds and wire transfer fees are high. As a plus, transferring money is user-friendly and ACH transfers are free.
| Pros | Cons |
|---|---|
|
• No deposit fee
|
• Credit/Debit card not available
|
|
• User-friendly
|
• Only one account base currency
|
|
• Free ACH deposit and withdrawal
|
• High fees for wire transfer
|
| Webull | Alpaca Trading | |
|---|---|---|
| Bank transfer | Yes | Yes |
| Credit/debit card | No | No |
| Electronic wallets | No | No |
| Withdrawal fee | $0 | $0 |
Web trading platform
Webull offers one of the best trading platforms on the market. It's easy to use and suitable for both beginners and experts, with many advanced features.
| Pros | Cons |
|---|---|
|
• User-friendly
|
None |
|
• Two-step (safer) login
|
|
|
• Good customizability (for charts, workspace)
|
|
| Webull | Alpaca Trading | |
|---|---|---|
| Web platform score | 5.0 stars | 3.7 stars |
| Mobile platform score | 5.0 stars | 4.2 stars |
| Desktop platform score | 5.0 stars | - |
Learn more about Webull's web trading platform in the detailed Webull review.
Markets and products
Webull has a limited product portfolio that includes only US stocks, ETFs, crypto and options. Popular asset types such as funds, bonds and forex are not available.
| Webull | Alpaca Trading | |
|---|---|---|
| Stocks | Yes | Yes |
| ETFs | Yes | Yes |
| Forex | No | No |
| Funds | No | No |
| Bonds | No | No |
| Options | Yes | No |
| Futures | No | No |
| CFDs | No | No |
| Crypto | Yes | Yes |
Verdict
Webull's fee structure is truly appealing. You can trade US stocks, ETFs and options commission-free. The account opening is easy, fully digital, and fast while the trading platforms are easy to use and well-structured.
Webull has some drawbacks though. The product portfolio is quite limited, including only stocks, ETFs, options and crypto. Bank transfer is the only option for depositsand withdrawals, and wire transfers carry a fee in both directions. Customer support is hard to reach opn the phone.
As the account opening is seamless and Webull offers commission-free stock and ETF trades, feel free to try it.
| Webull | |
|---|---|
| Summary | Webull is a discount US stockbroker regulated by the top-tier US SEC and FINRA as well as the Hong Kong SFC. |
| Fees score | 4.8 stars |
| Recommended for | Investors and traders looking for zero-commission trading and easy platforms |
Alpaca Trading alternatives
SoFi Invest
SoFi, short for "Social Finance", is a US-based fintech startup founded in 2011. It first specialized in student loan refinancing, but has expanded into the broker space since 2018. SoFi is regulated by the US Securities and Exchange Commission (SEC) and FINRA. SoFi Invest is SoFi's brand for zero-fee or discount brokerage services.
SoFi Invest offers active and automated investing services. The former means a self-directed account where you can trade stocks, ETFs, and cryptocurrencies on your own. By contrast, SoFi Invest automated investing is a robo-advisory service where SoFi Invest handles your investments. In this review, we tested SoFi Invest active investing. Click here for the SoFi robo-advisory review. Sofi Invest also offers active or automated Traditional, Roth, and SEP IRAs, individual retirement accounts.
SoFi Invest is considered safe because it is regulated by top-tier financial authorities and provides up to $500,000 investor protection (including a $250,000 limit for cash) as part of the SIPC protection scheme.
Recommended for beginners and investors looking for zero-commission trading, focusing on the us market
| Pros | Cons |
|---|---|
|
• Free stocks and ETFs
|
• Available only for US clients
|
|
• Fast and fully digital account opening
|
• Limited product portfolio
|
|
• Great customer support
|
• Basic research tools
|
Fees
SoFi Invest has low trading and non-trading fees. It offers commission-free trades for US stocks and ETFs, and no fee is charged for inactivity or withdrawals.
| Pros | Cons |
|---|---|
|
• Free stocks and ETFs
|
None |
|
• No withdrawal fee
|
|
|
• No inactivity fee
|
|
| SoFi Invest | Alpaca Trading | |
|---|---|---|
| Apple benchmark fee | $0.3 | $0.3 |
| Vodafone benchmark fee | - | - |
| EURUSD benchmark fee | - | - |
Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX
Account opening
Account opening at SoFi Invest is seamless and fully digital; our account was opened within a day. On the flip side, only US clients can open an account.
| Pros | Cons |
|---|---|
|
• Fast
|
• Only US clients
|
|
• Fully digital
|
|
|
• No minimum deposit
|
|
| SoFi Invest | Alpaca Trading | |
|---|---|---|
| Minimum deposit | $0 | $0 |
| Time to open account | 1-3 days | 1 day |
If you are interested more in SoFi Invest minimum deposit, this overview will help you.
Deposit and withdrawal
SoFi Invest offers user-friendly and mostly free deposit and withdrawal options. However, you can use only bank transfers, while wire transfer withdrawals incur a high fee.
| Pros | Cons |
|---|---|
|
• Free withdrawal
|
• Credit/Debit card not available
|
|
• No deposit fee
|
• High fee for wire withdrawals
|
|
• User-friendly
|
|
| SoFi Invest | Alpaca Trading | |
|---|---|---|
| Bank transfer | Yes | Yes |
| Credit/debit card | No | No |
| Electronic wallets | No | No |
| Withdrawal fee | $0 | $0 |
Web trading platform
SoFi Invest offers a user-friendly web trading platform with a neat design. However, it lacks customizability, unique price alerts, and many common order types.
| Pros | Cons |
|---|---|
|
• User-friendly
|
• Limited customizability (for charts, workspace)
|
|
• Two-step (safer) login
|
• Limited order types
|
|
• Modern design
|
• No unique price alerts
|
| SoFi Invest | Alpaca Trading | |
|---|---|---|
| Web platform score | 3.2 stars | 3.7 stars |
| Mobile platform score | 4.5 stars | 4.2 stars |
| Desktop platform score | - | - |
Learn more about SoFi Invest's web trading platform in the detailed SoFi Invest review.
Markets and products
SoFi Invest has a limited product portfolio comprising US stocks and ETFs as well as a few cryptocurrencies. You can't trade funds, bonds, forex, options or futures.
| SoFi Invest | Alpaca Trading | |
|---|---|---|
| Stocks | Yes | Yes |
| ETFs | Yes | Yes |
| Forex | No | No |
| Funds | No | No |
| Bonds | No | No |
| Options | No | No |
| Futures | No | No |
| CFDs | No | No |
| Crypto | Yes | Yes |
Verdict
SoFi Invest's fees are great. You can trade stocks and ETFs listed on major US markets for free. Account opening is easy, fully digital and fast. Customer service responds quickly and gives relevant answers.
SoFi Invest has some drawbacks though. It is available only for US clients. Its product portfolio is fairly limited, covering only US stocks, ETFs, and a few cryptocurrencies. Lastly, research tools are very basic.
As the account opening process is seamless and SoFi Invest offers commission-free stock and ETF trades, you should feel free to try it.
| SoFi Invest | |
|---|---|
| Summary | SoFi Invest is a discount US stockbroker regulated by the top-tier SEC and FINRA. |
| Fees score | 5.0 stars |
| Recommended for | Beginners and investors looking for zero-commission trading, focusing on the US market |
Alpaca Trading alternatives
Robinhood
Robinhood is a US-based, zero-fee broker established in 2013. The company is regulated by top-tier financial authorities, such as the US Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA).
Besides the brokerage service, Robinhood also introduced Cash Management to help clients earn interest on uninvested funds. Click here for more details on this great and unique service.
BrokerChooser is committed to bringing high transparency and clarity to its customers, including brokers and partners. BrokerChooser's Advertiser Disclosure.
Recommended for beginners and buy-and-hold investors focusing on the us stock market
| Pros | Cons |
|---|---|
|
• Free US stock and ETF trading
|
• Limited product range
|
|
• Great mobile and web trading platforms
|
• Weak customer support
|
|
• Fast and fully digital account opening
|
• Few educational materials
|
Fees
Trading US stocks and ETFs is free at Robinhood. The broker doesn't charge an inactivity or withdrawal fee.
| Pros | Cons |
|---|---|
|
• Commission-free US stock and ETF trading
|
None |
|
• No fee for deposit or withdrawal
|
|
|
• Transparent fee structure
|
|
| Robinhood | Alpaca Trading | |
|---|---|---|
| Apple benchmark fee | $0.3 | $0.3 |
| Vodafone benchmark fee | - | - |
| EURUSD benchmark fee | - | - |
Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX
Account opening
The account opening at Robinhood is seamless, fully digital and can be completed within a day. On the negative side, the broker only accepts US clients and IRA accounts are not available.
| Pros | Cons |
|---|---|
|
• Fast
|
• Available only for US clients
|
|
• Fully digital
|
• No IRA accounts offered
|
|
• No minimum deposit
|
|
| Robinhood | Alpaca Trading | |
|---|---|---|
| Minimum deposit | $0 | $0 |
| Time to open account | 1 day | 1 day |
If you are interested more in Robinhood minimum deposit, this overview will help you.
Deposit and withdrawal
Deposit and withdrawal at Robinhood are free and easy and a great cash management service is available. On the other hand, you can use only bank transfer and deposits above your 'instant' limit may take several business days.
| Pros | Cons |
|---|---|
|
• Free withdrawal
|
• Credit/Debit card not available
|
|
• No deposit fee
|
• Depositing larger amounts on Robinhood Gold takes longer
|
|
• Cash management service
|
• Wire withdrawal is pricey
|
| Robinhood | Alpaca Trading | |
|---|---|---|
| Bank transfer | Yes | Yes |
| Credit/debit card | No | No |
| Electronic wallets | No | No |
| Withdrawal fee | $0 | $0 |
Web trading platform
Robinhood provides a safe, user-friendly and well-designed web trading platform. On the downside, customizability is limited.
| Pros | Cons |
|---|---|
|
• User-friendly
|
• Limited customizability (for charts, workspace)
|
|
• Clear fee report
|
|
|
• Two-step (safer) login
|
|
| Robinhood | Alpaca Trading | |
|---|---|---|
| Web platform score | 4.5 stars | 3.7 stars |
| Mobile platform score | 5.0 stars | 4.2 stars |
| Desktop platform score | - | - |
Learn more about Robinhood's web trading platform in the detailed Robinhood review.
Markets and products
Robinhood's product portfolio is limited, as it offers only stocks, ETFs, options and cryptos. Furthermore, assets are limited mainly to US markets. During January 2021, Robinhood restricted trading in as many as 50 individual stocks.
| Robinhood | Alpaca Trading | |
|---|---|---|
| Stocks | Yes | Yes |
| ETFs | Yes | Yes |
| Forex | No | No |
| Funds | No | No |
| Bonds | No | No |
| Options | Yes | No |
| Futures | No | No |
| CFDs | No | No |
| Crypto | Yes | Yes |
Verdict
The biggest argument in favor of Robinhood is its appealing fee structure. US stock trading is commission-free and there is no withdrawal or inactivity fee. Robinhood clients can trade on awesome and user-friendly mobile and web trading platforms. The account opening is easy, fast and fully digital.
Robinhood has some drawbacks though. Most of the products you can trade are limited to the US market. Customer support is weak; you can only reach them via e-mail and it can take some time to get an answer. The broker provides educational articles but little else to guide you in the world of trading.
If you want to trade US stocks for free and are looking for an easy-to-use platform, Robinhood is your best choice.
| Robinhood | |
|---|---|
| Summary | Robinhood is a US-based zero-commission broker. It is overseen by FINRA, a top-tier regulator. |
| Fees score | 4.6 stars |
| Recommended for | Beginners and buy-and-hold investors focusing on the US stock market |
Alpaca Trading alternatives
Alpaca Trading
Alpaca Trading is a commission-free API stockbroker founded in 2015. Alpaca is based in San Mateo, CA. It is regulated by the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA), both top-tier regulators that bolster Alpaca Trading's safety for investors and traders.
Alpaca provides access to US stock markets, historical data, and fundamental data through their API. Alpaca's founders believe their software allows retail traders to capitalize on the machine learning and automation that historically only institutional investors have been able to use. Coders have the opportunity to build their own algorithms and contribute to the Alpaca developer community. Alpaca founders have expressed interest in eventually opening up pre-made algorithms to non-coders, but for now, their platform also includes capabilities for manual order-entry and research.
Recommended for traders interested in algorithmic stock trading
| 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
|
Fees
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.
| Pros | Cons |
|---|---|
|
• Commission-free Stock and ETF Trading
|
None |
|
• No inactivity fee
|
|
|
• No withdrawal fee
|
|
| Alpaca Trading | moomoo | Webull | SoFi Invest | Robinhood | |
|---|---|---|---|---|---|
| US stock | $0.0 | $0.0 | $0.0 | $0.0 | $0.0 |
| UK stock | - | - | - | - | - |
Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k
Account opening
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.
| Pros | Cons |
|---|---|
|
• Fast
|
• Bit complex process for integrating third-party tools
|
|
• Fully digital
|
|
|
• No minimum deposit
|
|
| Alpaca Trading | moomoo | Webull | SoFi Invest | Robinhood | |
|---|---|---|---|---|---|
| Minimum deposit | $0 | $0 | $0 | $0 | $0 |
| Time to open account | 1 day | 1-3 days | 1 day | 1-3 days | 1 day |
Learn more about Alpaca Trading minimum deposit here.
Deposit and withdrawal
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.
| Pros | Cons |
|---|---|
|
• Free withdrawal
|
• Credit/Debit card not available
|
|
• No deposit fee
|
• Only one account base currency
|
|
• User-friendly
|
• High withdrawal fee for wire transfers
|
| Alpaca Trading | moomoo | Webull | SoFi Invest | Robinhood | |
|---|---|---|---|---|---|
| Bank transfer | Yes | Yes | Yes | Yes | Yes |
| Credit/debit card | No | No | No | No | No |
| Electronic wallets | No | No | No | No | No |
| Withdrawal fee | $0 | $0 | $0 | $0 | $0 |
Web trading platform
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.
| Pros | Cons |
|---|---|
|
• User-friendly
|
• Poor search function
|
|
• Two-step (safer) login
|
• Limited customizability (for charts, workspace)
|
|
• Modern design
|
• No price alerts
|
| Alpaca Trading | moomoo | Webull | SoFi Invest | Robinhood | |
|---|---|---|---|---|---|
| Web platform score | 3.7 stars | - | 5.0 stars | 3.2 stars | 4.5 stars |
| Mobile platform score | 4.2 stars | 4.5 stars | 5.0 stars | 4.5 stars | 5.0 stars |
| Desktop platform score | - | 4.5 stars | 5.0 stars | - | - |
Learn more about Alpaca Trading's web trading platform in the detailed Alpaca Trading review.
Markets and products
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.
| Alpaca Trading | moomoo | Webull | SoFi Invest | Robinhood | |
|---|---|---|---|---|---|
| Stocks | Yes | Yes | Yes | Yes | Yes |
| ETFs | Yes | Yes | Yes | Yes | Yes |
| Forex | No | No | No | No | No |
| Funds | No | Yes | No | No | No |
| Bonds | No | No | No | No | No |
| Options | No | Yes | Yes | No | Yes |
| Futures | No | Yes | No | No | No |
| CFDs | No | No | No | No | No |
| Crypto | Yes | No | Yes | Yes | Yes |
Verdict
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.
| Alpaca Trading | |
|---|---|
| Summary | Alpaca Securities LLC is US-based broker providing commission-free API stock trading. The company is regulated by the top-tier SEC and FINRA: |
| Fees score | 4.8 stars |
| Recommended for | Traders interested in algorithmic stock trading |
Alpaca Trading alternatives
Bottom line
Based on our analysis, there are several good alternatives to Alpaca Trading. They all offer similar products and target similar customers. Here's a recap of the results in a table.
| Broker | Info | Recommended for |
|---|---|---|
| Alpaca Trading | US API broker | Traders interested in algorithmic stock trading |
| moomoo | US zero-fee discount broker | Investors and traders looking for zero-commission trading and focusing on US markets. |
| Webull | US discount broker | Investors and traders looking for zero-commission trading and easy platforms |
| SoFi Invest | US discount broker | Beginners and investors looking for zero-commission trading, focusing on the US market |
| Robinhood | US zero-fee discount broker | Beginners and buy-and-hold investors focusing on the US stock market |
Still unsure? Use our broker finder and find the best broker for you or learn more about investing your money.
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