Alpaca Markets Broker Review 2025

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 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 Alpaca Markets offers, here's a summary table of its key features:

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

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

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:

• Trading API;
• Broker API.

The Trading API registration is designed for individual traders or developers looking to engage in commission-free stock or crypto trading, with access to real-time market data, margin trading, and short selling capabilities.

This option is ideal for users who want to build trading strategies or tools, test their setups in a sandbox environment, and eventually deploy them in real market conditions.

Trading API Sign-Up Process:

• Fill in your personal information (First Name, Last Name, Email);
• Provide the Country of Tax Residence;
• Set a Password;
• Click on “Sign Up,” and done!

In contrast, the Broker API sign-up process caters to developers and financial institutions aiming to build their trading platforms or integrate trading functionalities into apps, such as banking or payroll applications. Broker API Sign-Up Process:

• Enter your personal details;
• Create a strong password;
• Select your role;
• Tap the “Sign Up” button.

Alpaca Broker Trading Platforms

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

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;
• Crypto 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 features, its API could be used to build such functionality into custom trading applications.

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 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 Markets Trust Scores & Reviews

Alpaca Markets has received a mixed review on Trustpilot, with a TrustScore of 2.7 out of 5 based on only 12 reviews in 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.

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 only USD currency support and not offering 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.