Arjun  Mandal

Reviewer:

Arjun Mandal
Eda Kaya

Fact checker:

Eda Kaya
Modified:

Alpaca Markets Broker Review 2025

Alpaca Markets Broker Review 2025
Company:Alpaca Markets
Founded:N/A
Min Deposit:$1
Max Leverage:1
Headquarter:

California, USA

US Accepted:

Investing and trading in financial markets such as the stock exchange, forex, digital currencies in the form of spot or with leverage face a high inherent risk. According to the statistics of all exchanges and brokers, more than 75% of people lose!

About
Alpaca Markets is an API-first brokerage platform designed for developers and algorithmic traders. Alpaca is registered with FINRA and the SEC in the U.S. The broker supports U.S. equities, including thousands of stocks and fractional shares, over 20 cryptocurrencies, and U.S. options trading.
Contact
20 N San Mateo Dr Ste 10 San Mateo, California 94401 US
Rank and Score
Pros and Cons
Account Types
Platforms
Pros
API offering
Fast Execution
Regulated Company
Cons
Does Not Support FX
Lack of MT4/5
score of blog
5 From 5.0
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Rate this post
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Alpaca Markets broker charges $0 in commissions on trades and provides zero-fee trading for users. Alpaca's API options include Trading API (for individual traders and developers) and Broker API (for developers and financial institutions).

Deposit methods include bank wire and crypto, while bank wire and crypto are available for withdrawals.

Alpaca Markets Review
Discover how Alpaca, as the API-first brokerage platform, empowers developers and algorithmic traders

Alpaca Markets Broker Company Information & Regulation Status

Alpaca Markets has positioned itself as a pioneer in the API-driven brokerage space. Founded in 2015, the company started as a database and machine learning venture before pivoting to a cutting-edge brokerage platform.

Alpaca operates through several regulated entities globally; Alpaca Regulations:

  • Alpaca Securities LLC (US)
  • Alpaca Crypto LLC (US)
  • AlpacaX Securities Ltd. and AlpacaX Crypto Ltd. (Bahamas)
  • Alpaca Japan Co., Ltd. (Japan)

Some facts about the broker’s regulation include:

  • Alpaca Securities LLC is registered with FINRA and the SEC in the US
  • Alpaca Crypto LLC is a registered Money Services Business with FinCEN
  • The Bahamian entities are registered with the Securities Commission of the Bahamas
  • The Japanese entity holds a securities license with the Japan Securities Dealers Association

Alpaca Markets Summary of Specifics

To give you a quick overview of what the Forex broker offers, here's a summary table of its key features:

Broker

Alpaca Markets

Account Types

N/A

Regulating Authorities

 FINRA, SEC, FinCEN, SCB, JSDA 

Based Currencies

USD

Minimum Deposit

N/A

Deposit Methods

Bank Wire, Crypto

Withdrawal Methods

Bank Wire

Minimum Order

N/A

Maximum Leverage

N/A

Investment Options

N/A

Trading Platforms & Apps

Own Platform

Markets

Crypto, Equities, Options

Spread

N/A

Commission

$0

Orders Execution

N/A

Margin Call/Stop Out

N/A

Trading Features

Algorithmic Trading

Affiliate Program

No

Bonus & Promotions

No

Islamic Account

No

PAMM Account

No

Customer Support Ways

Online chat, Email

Customer Support Hours

Online chat, (24/7) Email (Standard Working Hours)

Alpaca Markets Use Cases

Alpaca Markets stands out as an API-based broker, diverging from the conventional account types typically offered by traditional brokers.

Instead of categorizing its services into standard account types, Alpaca focuses on various "Use Cases" designed to meet the unique needs of different trading segments; Alpaca Use Cases:

  • Fintech startups
  • Digital wallets
  • Broker-dealers
  • Hedge funds
  • Proprietary trading firms
  • Algorithmic traders
  • Robo-advisors
  • Crypto exchanges
Alpaca Use Cases
Use Alpaca’s capabilities with digital wallets, Fintech startups, and proprietary trading firms

This approach not only enhances flexibility but also allows users to create customized trading experiences that align with their objectives.

Alpaca Markets Advantages and Disadvantages

Let's break down the pros and cons of using Alpaca Markets; Alpaca Advantages and Drawbacks:

Advantages

Disadvantages

Easy-to-use API

Higher interest costs

Commission-free trading

Limited to US stocks, Options, and Crypto

Free data through third-party vendors

No forex trading available

Strong focus on algorithmic trading

-

Alpaca Markets broker shines in its API offerings and support for algorithmic trading.

However, it may not be the best choice for traders looking for a wide range of global assets or those primarily interested in forex trading.

Alpaca Markets Signing Up & Verification Process

Alpaca broker provides a streamlined sign-up process, offering users 2 distinct options based on their trading needs. Alpaca Registration Options:

#1 Go to the Official Website

Begin by navigating to the Alpaca Markets homepage. Locate and click on the “Sign Up” or “Open an Account” button to launch the registration flow.

Alpaca Markets sign-up button on the official website
Start Alpaca Markets signup by visiting an official website

#2 Complete the Personal Information Form

Input your key details, including:

  • First and Last Name
  • Country of Tax Residence
  • Email Address
  • Password

Once completed, hit “Sign Up” to move forward.

Alpaca Markets sign-up form
Complete Alpaca Markets account opening form with your first name, last name, country of tax residence, email, and password

#3 Verify Your Email

Check your inbox for an email from Alpaca. Click the “Confirm Email” link to validate your address and activate your account.

Alpaca Markets sign-up email confirmation
Finalize the Alpaca Markets signup by clicking on the "Confirm Email" button

#4 Complete User KYC

In this step, you must provide personal details, including name, date of birth, address, phone number, tax identification number, and upload a government-issued ID card as proof of identity.

Alpaca Broker Trading Platforms

Unlike many of the best forex brokers, Alpaca Markets does not offer traditional trading platforms like MetaTrader 5 orcTrader.

Instead, Alpaca takes a modern approach by providing API-driven services tailored for developers, fintech startups, and advanced traders.

This means that instead of a conventional user interface for placing trades, users interact with Alpaca’s systems directly through their Trading API or Broker API.

This allows traders to build their own customized trading platforms, apps, or algorithms that can execute trades programmatically.

Alpaca Markets Spreads and Commissions

Alpaca typically does not charge commissions for trades. However, if your account is set up through an authorized business partner, commission-free trading may not be available.

Overall, the fees you pay depend on the specific transactions and your partnership arrangement rather than the total value of your account.

Alpaca Broker Deposit & Withdrawal Methods

Alpaca broker deposit and withdrawal have slightly different conditions compared to the typical brokers. Here are what you can find about the methods:

  • Deposit/Withdrawal Options: Bank transfers
  • Currency Support: Only supports USD; no support for multiple currencies
  • Card Funding: No option for credit/debit card deposits
  • Wire Withdrawals: Available but costly;
  • Cryptocurrency Transfer: Supported for deposits and withdrawals.

Copy Trading & Investment Option Offerings in Alpaca

It's worth noting that copy trading is a popular feature in the broader trading landscape. Copy trading allows investors to automatically replicate the trades of experienced traders.

While Alpaca doesn't directly offer copy trading software for crypto or other markets, its API could be used to build such functionality into custom trading applications.

Alpaca Markets Tradable Markets & Symbols

Alpaca provides access to a range of markets and symbols:

  • S. Equities: Thousands of stocks available, including fractional shares
  • Cryptocurrencies: Over 20 cryptocurrencies supported
  • Options: S. options trading is available
Alpaca’s Instruments
In the Alpaca Markets broker, you have access to US Equities, Crypto, and Options

Notably, Alpaca's Local Currency Trading API allows customers to view stock prices, trades, performance, and statements in their local currency, enhancing the user experience for international traders.

Alpaca Markets Broker Bonuses and Promotions

Alpaca occasionally runs promotions to incentivize trading; A recent example is the Crypto Rewards Program:

  • Duration: March 21 - May 20, 2022
  • Reward: $100 worth of cryptocurrencies for every $100,000 in crypto trading volume
  • No limit on how often the reward can be earned

While this promotion has ended, it demonstrates Alpaca's willingness to offer incentives to active traders. Always check Alpaca's official channels for current promotions.

Alpaca Crypto Rewards Program
Alpaca offers $100 bonus under the title of Crypto Rewards Program

Alpaca Markets Support Team

Alpaca Markets provides a streamlined approach to customer support; Alpaca Support Channels:

  • Email: support@alpaca.markets
  • Online chat

It’s important to note that real-time support options are somewhat limited compared to brokers that offer phone support.

The absence of a direct phone line may be a consideration for users who prioritize immediate assistance.

Alpaca Broker List of Restricted Countries

Alpaca Trading might have geographical restrictions in place, which means its services may not be available in certain regions or countries.

This limits access to its platform for some potential clients, especially those residing in areas where Alpaca does not operate.

Traders should check the availability of Alpaca's services in their specific region before attempting to open an account to ensure they can utilize the broker’s offerings.

For the most up-to-date information on country restrictions, it's best to contact their support.

Alpaca Markets Trust Scores & Reviews

The Alpaca Markets Trustpilot profile has a score of 2.7 out of 5,based on 12 reviews as of January 2025.

This limited number of reviews raises concerns about their reliability, as such a small sample size may not accurately reflect the overall client experience.

Additionally, the authenticity of these reviews could be questioned, leading to doubts about the trustworthiness of the score.

Potential clients should approach this rating with caution and consider seeking further information from other sources to get a more comprehensive view of the broker’s performance and reputation.

Education on Alpaca Markets Broker

Alpaca Markets places a strong emphasis on user education, offering a variety of resources designed to enhance traders' knowledge and proficiency.

Alpaca Markets educational resources
Alpaca Markets offers diverse educational content on API trading

The broker provides access to a comprehensive learning hub that includes articles, tutorials, and guides covering a wide range of topics relevant to trading and investing; Alpaca Educational Content:

  • Algorithmic trading
  • Crypto basics
  • App development and more

Additionally, Alpaca's educational approach includes practical examples and code recipes, allowing users to apply what they've learned in real-world scenarios.

By simplifying complex concepts, such as those related to IRA accounts and the various endpoints of the Broker API, Alpaca empowers its users to navigate the trading landscape more confidently.

Alpaca Markets in Comparison with Other Brokers

While Alpaca isn't exactly a broker, we should still compare it to other Forex brokerages to see whether using its services is beneficial or not.

Parameters

Alpaca Markets Broker

FXTM Broker

Tickmill Broker

FBS Broker

Regulation

FINRA, SEC, FinCEN, SCB, JSDA

FSC

FSA, FCA, CySEC, LFSA, FSCA

FSC, CySEC

Minimum Spread

N/A

From 0.0 pips

From 0.0 Pips

From 0.0 Pips

Commission

$0

Variable

From $0.0

From $0.0

Minimum Deposit

N/A

$200

$100

$5

Maximum Leverage

N/A

1:3000

1:1000

1:3000

Trading Platforms

Own Platform

MT4, MT5, FXTM Trader App

Metatrader 4, Metatrader 5, Metatrader Web, Mobile App

MT4, MT5, Mobile App

Account Types

N/A

Advantage, Stocks Advantage, Advantage Plus

Classic, Raw

Standard

Islamic Account

No

Yes

Yes

Yes

Number of Tradable Assets

N/A

1000+

620+

550+

Trade Execution

N/A

Market, Instant

Market

Market

Conclusion and final words

Alpaca is accessible for developers through its Trading API and Broker API, enabling the creation of custom trading applications.

However, Alpaca has some limitations, such as offering onlyUSD currency support and not providing currency trading.

Occasional promotions like the Crypto Rewards Program (offering $100 worth of crypto for every $100,000 in crypto trading volume) are also available.

The broker has a TrustScore of 3/5 on Trustpilot, based on 6 reviews, which may suggest limited feedback from users.

FAQs

What makes Alpaca Markets unique?

Alpaca distinguishes itself from traditional brokers through its API-first approach and emphasis on developer-friendly tools

Is Alpaca Markets available internationally?

Alpaca is expanding its international reach, but availability may vary by country.

Does Alpaca offer forex trading?

No, Alpaca primarily focuses on U.S. stocks, options, and cryptocurrencies.

How secure is trading with Alpaca Markets?

Major financial authorities regulate Alpaca and adhere to industry security standards, providing a secure trading environment.

Does Alpaca charge commissions on trades?

Alpaca typically offers zero-commission trading for users trading directly through its platform. However, commission fees may apply when accounts are opened through business partners, so it’s important to verify the specific setup.

What types of assets can I trade on Alpaca?

Users can trade US equities, including fractional shares, over 20 cryptocurrencies, and listed options. Alpaca does not support forex trading or access to non-US global markets.

How does the Alpaca API work for traders and developers?

Alpaca’s Trading API enables users to send, manage, and automate orders directly through code. The Broker API is ideal for managing multiple user accounts and is widely used by fintech firms, robo-advisors, and institutional platforms.

What are Alpaca’s minimum deposit requirements?

There is no officially stated minimum deposit. However, funding requirements may vary based on account structure, verification status, and deposit method (crypto or wire transfer).

What funding methods are supported on Alpaca?

Alpaca supports deposits and withdrawals via bank wire transfers and cryptocurrency. Only USD is accepted, and credit or debit card funding is not available.

Does Alpaca offer any trading bonuses or promotions?

Alpaca occasionally runs promotions, such as the Crypto Rewards Program, which rewarded traders with $100 in crypto for every $100,000 in crypto trading volume. These offers are not frequent and may vary over time.

What are the use cases for Alpaca’s brokerage services?

Alpaca is designed for a wide range of financial entities including proprietary trading firms, digital wallets, broker-dealers, hedge funds, crypto exchanges, and algorithmic traders looking to integrate trading features via API.

What trading platforms or apps does Alpaca provide?

Alpaca does not offer platforms like MetaTrader 4 or 5. Instead, it provides developers with access to its APIs so they can build custom trading platforms or integrate trading into existing applications.

How does this broker handle KYC and identity verification?

To complete registration, users must provide personal information including name, date of birth, address, tax identification number, and a government-issued ID. Email verification is also part of the process.

Does Alpaca offer copy trading or social trading tools?

Alpaca does not offer built-in copy trading features. However, developers can use the API to create their own copy trading functionality within custom-built platforms.

Are Islamic accounts or swap-free trading supported available?

No, Alpaca does not provide Islamic or swap-free account options. The platform is more focused on serving algorithmic and institutional traders.

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