For a U.S. resident to apply for an Alpaca account, you must meet the following requirements:
- Be at least 18 years old,
- Have a valid Social Security Number,
- Have a legal U.S. residential address and ;
- Be a U.S. citizen, U.S. permanent resident, or hold an eligible U.S. visa*.
***** Acceptable visa types:**** E-1, E-2, E-3, F-1, H1-B, TN-1, J-1, L-1, B-1, B-2, O-1
US Tax Residents with accounts can use Automated Clearing House (ACH) for deposits/transfers from a linked bank account. This is the default method available to fund your Alpaca Account.
We do accept wire transfers case on a case basis when there are specific reasons that ACH does not work. Contact firstname.lastname@example.org if you are unable to use ACH and would like to pursue a wire transfer option.
International users with accounts can fund their account with Rapyd which can be accessed by selecting the Banking Tab on the side of the dashboard of the live brokerage account. While one can transfer foreign currencies in Rapyd, only USD can be deposited into Alpaca Brokerage Accounts
International Users can still send wire transfers however they need to be in USD
No, there are no account minimums for individual live brokerage accounts (both US Tax Resident and Non-US Tax Resident)
Please read Account Plans for more information.
For business entities: Invite only beta
We are currently running an invite-only beta program for the business trading account. This business trading account is prepared for business entities that intend to use Alpaca for trading purposes, but not for building apps/services. If you are ready to start integration and build apps using Alpaca API, please read Build Apps/Services with Alpaca .
Today’s beta program accepts select US Corporations, LLCs, and we continue to expand the coverage of eligible business entity types. There’s no charge to open a business trading account, but it does have a $30,000 account minimum . Additionally, please note that business accounts are considered professional data subscribers for which we currently are unable to provide Polygon’s consolidated market data. You would still have access to Alpaca Data API , but if you wanted a consolidated market data feed, you’d need to obtain this through another provider. Please read this announcement to learn more about the beta program.
Please complete this form to get on the list to receive an invite.
Also, please read Account Plans on the docs about accounts that are available at Alpaca.
A trusted contact is optional information you can provide. A “trusted contact person” is a person who you authorize us to contact if we have a reasonable belief that your account may be exposed to possible financial exploitation or fraud.
See the FINRA notice regarding Please Consider Adding a Trusted Contact to Your Account for more information.
If you have additional questions regarding Alpaca’s eligibility requirements, please send an email to email@example.com.
Functionally an Alpaca Securities LLC (“Alpaca”) account is no different than any other brokerage account. However there are important differences and limitations that you should be aware of which may influence your decision to open an account.
All interactions with Alpaca will be either online, via email, or through programing code that you must write. Access to Alpaca by telephone will be extremely limited as the company does not have a telephone system or publicly available telephone number.
The initial setup for your account will be through a web interface; there is no ability to open an account using paper documents and you must agree to sign all opening account documents electronically through the web interface.
When the account is setup, you are provided with a customer dashboard to link bank accounts, transfer funds to or from your bank, view account information, open orders, your account balance, your securities positions, trade confirmations, account statements, and tax documents. You should also know that there is no ability to place a trade through the customer dashboard.
Alpaca does not provide certain services that other full service brokers provide, such as the ability to transfer securities positions and account balances from or to another broker, open a joint account, open an IRA account, or open an account for an entity or trust.
In order to place trades, you must write your own program to place trades through the Alpaca API. We support most programming languages and have sample code available to modify to meet your own needs. Currently your program must run on your own computer and access the API through a commercially available internet service provider. Alternatively, you could purchase access to and run your program on a cloud service.
Please note that there are specific risks associated with running your own automated code which can be found here.
Finally, all investments involve risk and the past performance of a security, or financial product does not guarantee future results or returns. Keep in mind that while diversification may help spread risk it does not assure a profit, or protect against loss, in a down market. There is always the potential of losing money when you invest in securities, or other financial products. Investors should consider their investment objectives and risks carefully before investing.
Alpaca currently offers free paper trading accounts and commission-free* individual (non-retirement) brokerage accounts.
To learn more about Alpaca accounts, visit Alpaca Docs > Account Plans.
No, we do not offer cash accounts. All accounts are set up as margin accounts.
For those accounts with less than $2,000 in equity, we treat them as limited margin accounts, meaning you can trade on unsettled funds and are not limited to waiting for trades to settle before you can use the proceeds to purchase additional securities.
For example, if you bought security X three days ago and sold it today, just like a cash account you could purchase a new security, Y, today with the proceeds. However, if you sold security Y tomorrow, in a cash account you would have to wait until the purchase of security Y settles, before you can buy anything with the proceeds. With a limited margin account, you can immediately purchase another security with the proceeds of security Y.
To learn more about how margin works, visit Alpaca Docs > Margin & Shorting.
We are currently running an invite-only beta program for the business trading account. This business trading account is prepared for business entities that intend to use Alpaca for trading purposes.
Please complete this form to get on the list to receive an invite for business trading accounts.
** Commission-Free trading means that there are no commission charges for Alpaca self-directed individual cash brokerage accounts that trade U.S. listed securities through an API. Relevant SEC and FINRA fees may apply.*
Currently, for U.S. residents, Automated Clearing House (ACH) deposits/transfers from a linked bank account is the default method available to fund your Alpaca Account.
If you are a non-U.S. resident, today’s invite-only beta program supports international wire only and does NOT support TransferWise or Revolut option, but supports an international-wire only. ACH does not work with a bank account outside the US.
We do accept wire-transfers case by case basis when there are specific reasons that ACH does not work. Please contact support if you are eligible to do a wire-transfer.
Prior to initiating an ACH deposit/transfer, you must have a bank account linked to your Alpaca Account. Alpaca utilizes Plaid, a third-party vendor for bank account authentication and identification services. Please note that maximum ACH transfer allowed is $50,000 per day .
Plaid utilizes two methods for verification of banking information, dependent upon the availability of your financial institution. Many major banks integrate with Plaid, allowing for quick electronic verification and funding of your account. However, in some cases verification must be completed through micro-deposits, which typically takes between 1-3 business days .
Refer to the links below for instructions on linking your bank account:
Under rule 14b-1(c) of the Securities Exchange Act, your name, address and relevant investment holdings are required to be disclosed to issuers whose investments you own.
You may opt out of this disclosure requirement. If you would like to change your preference on this disclosure at any time, please contact us at firstname.lastname@example.org.
To check if we’ve approved your account, log into the dashboard on the website to see the status of your application. We’ll follow up with you via email if we need anything else!
Please note, your account application may be the subject of further review for various reasons, including:
- We need additional documentation to verify your identity
- Due to a lack of credit history, we are unable to verify all of your information and may require additional documentation unrelated to credit applications
- We’re reviewing your application in further detail to verify and protect your identity.
If you have any questions about your application status, feel free to send an email to email@example.com.