I have been waiting 2 months to withdraw my money but Alpaca would not give it back. Do you trade with them
I made a withdrawal a few months back and got it within 3 days or so.
Yes me too. But this time it was my last withdrawal and then I was asked them to close the account. The issue was, at least that’s what they said, the account was closed while the money was at the clearing house, it took a month to know that. Then, another month for them to understand that my bank changed the coordinates, it took another month, uploading five times the new bank statement, and countless emails, starting always from scratch. After having funds stuck, them trying two times to send the money to the old account, the impossibility to change the linked account. It seems today that started a new bank transfer manually, with contradicting messages. For sure I am going to file a complaint with SEC. They are unprofessional, incompetent and utterly morons.
Make sure you get all the funds before closing an account, check the spreads because they are not really free, spreads are higher than proper brokers like IB, and use a proper broker.
It seems your bank made errors too + always withdraw your money by yourself and then close the account (after you have received it).
Just want to reply to say that this has not at all been my experience with alpaca. I have sent funds from my account to two different bank accounts and they always process within 1-2 business days. One was Fidelity (my other trading account) and one was my local credit union. So, yeah. Just wanted to make sure that others that are thinking about algo trading, I wouldn’t let this post deter you.
Additionally, that sucks that happened to you. Sounds like a lot went wrong all at the same time.
All my withdrawals have gone through without issue