Alpaca Trading

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Alpaca Trading Review 2023

Written by: Adam N. Updated:Dec 2022
Expert verified
Recommended for
  • forex trading 4.4/5
  • equity trading 4.3/5
Trusted broker
Regulated by top-tier financial authorities
14,274 people chose this broker in the last 6 months
BrokerChooser Score

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. Broker Chooser gave Alpaca Trading a 4.7/5 rating based on analyzing 500+ criteria and testing via opening a live account.

Is Alpaca Trading a legit broker?

See how Alpaca Trading is regulated and whether you should have any concerns using it.

Alpaca Trading is available in Pakistan

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Alpaca Trading pros and cons



Alpaca Trading main highlights

🗺️ Country of regulation


💰 Trading fees class


💰 Inactivity fee charged


💰 Withdrawal fee amount


💰 Minimum deposit


🕖 Time to open an account

1 day

🎮 Demo account provided


🛍️ Products offered

Stock, ETF, Crypto



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

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.

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.

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.

Mobile trading platform

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.

Desktop trading platform

Alpaca Trading does not offer a desktop trading platform.

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 provides a highly capable API and great charting tools. You can also find some fundamental data, but unfortunately no trading recommendations.

Customer service

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.lity.


Alpaca offers videos and step-by-step guides for investing, algorithm trading and use of their API, including detailed manuals and FAQs for beginners.


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.