Dan, where's the cash-only account option?

Alpaca Trading
1

Hello Dan,

Through many forum posts, you’ve stated that there would be a cash-only account option introduced to alpaca (posts back from 04/2021) - but I still see no option to do so as of 2026. It actually took me by surprise that margin was automatically added to my account. I (along with many others) are very uncomfortable with the fact that margin is available and will be used. I most likely will not use my live trading account and find a different API for real-time market data if a cash-only (no margin) account isn’t an option. I’m hoping I’m wrong, and I’m missing the big red button to disable margin entirely. Some clarity here would be great before I decide to transfer a sum of money over here to start live trading. It would be shame because it is a great API to interact with. If I’m missing something, please let me know.

Thanks for visibility and transparency on this matter!

2

Currently all Alpaca accounts are margin accounts. Margin is made available to all accounts, however you are not required to use it unless you wish. It is your option. You can set the max_margin_multiplier=1. In that case the APIs will reject any orders in excess of your available cash. However, since it is a margin account, pattern day trading rules apply.

Cash accounts will first be available as IRA accounts. Individual cash accounts will be rolled out after that but there is no definite timeline.

Apologies for any confusion.