I find it very disturbing!

Alpaca is not a US company. That means if something goes wrong, you will have to run for your money to Japan https://prnt.sc/uqvy0f

This is unacceptable. There no FDIC insurance on deposits and no domestic entity that’s licensed broker!!! Are you joking me???

May just be another MT.GOX…

NO THANK YOU!

The founders have Japanese names, but the company is headquartered in San Mateo, CA and is a member of FINRA. It is incorporated in the U.S. (Delaware). It is registered with the SEC (SEC CIK #0001689386) and deposits are insured to $500K. Some links for additional information are below. I have no relationship with the company myself, but I think your fears are ungrounded.

https://www.crunchbase.com/organization/alpacadb

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Hi, thanks for the answer. Problem is FINRA is not an insurance. I don’t see any licensing information about them here in US. No corporate office info. No other valuable information, other than some registered LLC and membership at FINRA. Even that looks sketchy. No customer service, no phone number to call… There is no way I would trust them with even few thousands. There no FDIC or SIPC insurance… If Alpaca runs with investors money or goes belly up, there nobody who will give you your stocks or money back… Correct me if I am wrong.

This article may help with the roles of SIPC and FINRA and the $500K:

“Investor account insurance. Because of SIPC coverage, customers of investment brokerage firms are insured for up to $500,000 in net equity in each account. That includes up to $250,000 in cash balances.” Alpaca do have SIPC coverage according to their website, and this is indeed insurance for deposited funds (not coverage for any trading losses of course … but protection if the firm goes belly up).

Thanks for the answer. If they have SIPC, that’s music to my ears… makes me feel safe… is there a way to verify that? Also what bothers me is there nobody to call or create a support ticket. Do they offer any kind of customer service?

A more detailed description of their filings is here:

You can see that they are a SIPC members here
:


(this is just the companies starting with the letter A)

Their business model seems to be focused entirely on the API, and they have a few partners that have developed interfaces to the API that they provide information for on their website. But as far as I can tell this is very much a “do it yourself” platform through their API, and as they grow third parties will likely create more complete interfaces. If I can find some programming help, my plan is to set up my own strategy running from my own “dashboard”, and use the Alpaca API purely as a data source (via Polygon) and trade executer.

Fewww… It makes sense now… Why do they hide all that info and you have to dig all over the web to find that out. I don’t understand that. They are turning business away with that approach. Having no customer service is also a big red flag for many. People trusting Alpaca with lots of money and having nobody to talk to is a big issue. I wish they would have hired some people to answer the chat and phone, at least during business hours. Everything can happen. It’s a software and errors may be a possibility. Nothing is perfect. But otherwise, it looks safe to trade with them…

Hitoshi Harada
Alpaca
217 S B Street Suite #2
San Mateo, CA 94401

Phone: +1.6508638499
eMail: hitoshi@alpacadb.com

Linked In: https://www.linkedin.com/in/hitoshi-harada-02b01425/

Yeah they are legit, I found this on brokers check at FINRA https://brokercheck.finra.org/firm/summary/288202

Registered securities broker

Alpaca Securities LLC is a member of Financial Industry Regulatory Authority, Inc.
You can check the background of Alpaca Securities on [FINRA’s BrokerCheck]
Alpaca Securities is also a member of SIPC - securities in your account are protected up to $500,000.

Ya this is bullshit. Lost my ass on JE not being able ro trade it for days while other traders on other brokers profited $3 a share. By the time i was able to trade it I was down $2. On top of that my cost basis is not even close to the amount odf RS shares I got. Cant sell ELGX or SMRT on the OTC…WTF

Yes … I posted that link in my first reply in this thread. What would really help them I think is if they could facilitate connecting people who want to autotrade strategies, with programmers who could turn ideas or strategies written in Easylanguage, Pinescript, thinkScript and things like that into code in Python or C# that would run using the Alpaca API. Not everyone is a programmer, and creating a third party list of for-hire programmers would certainly attract more people who may want to autotrade but don’t have either the time, interest, or know-how to create the required program. They could clearly distance themselves (Alpaca) from such a resource and simply provide space on the website for third party developers to advertise their services, etc. I think this would be really useful for both customers, and Alpaca.

Alpaca is clearly offering API trading, which assumes development skills, this is not a regular broker with a nice GUI and/or graphic tools, the ecosystem is plenty of available choices if you are looking something like that, Alpaca just offers a programing interface for “geek” traders that want to build their own bot … or simply place an order from the command line or slack … how cool is that!

I am personally using it to place orders based on market signals (buy/sell) and automate the investing so I can not be glued to the monitor watching the markets

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I am also doing it, but there is no way you can trade without physically watching it… it’s nice… you get Json alert and use api to place trades… everything I’ve tried so far requires you to watch what you are doing… it’s a lot safer to place limit orders manually in my opinion…

It would be much “cooler” if they facilitated via their website a way to connect people who aren’t programmers with people who are (for payment of course) so that far more people could take advantage of the $0 commission platform and automated trading of custom strategies. It is easy enough to advertise for programmers and find people that way, and since many brokers now have APIs I ended up finding a programmer who happened to be familiar with the API from another broker, and I opened my account there rather than at Alpaca purely for that reason. The person I found wasn’t familiar with Alpaca’s API and I would have had to pay him more money than I did so that he could learn the Alpaca API details well enough to get my strategies programmed and tested. But maybe Alpaca are only interested in catering to people who can write their own programs, and not in the much larger universe of people who develop strategies but aren’t programmers.

Here is the deal. I know c# programming. It’s not just programming. While testing, I found that by the time you get to trade, it’s too late and you lose. You need good hosting. How to execute trades at the best possible speed? I know cloud and amazon aws as well… my weak side is trading… so I am willing to work for free, set up whatever you need in return for the knowledge about trading… how to place successful trades and possibly automate it… I already have code ready that places orders but I need someone to explain strategy to me so I can code it… maybe some kind of collaboration…

you can use tradingview.com to create signals (buy/sell) to a webhook and then place orders, thats what I am doing, there are some videos on this guy youtube channel on how to do that: https://www.youtube.com/channel/UCY2ifv8iH1Dsgjrz-h3lWLQ , check it out. I was able to build something taht automatically places trades so I dont have to watch the markets during the day (cause I work and I cant do that)

agreed, I am not a developer …but I am a little bit familiar with programming so I followed videos on this youtube channel: https://www.youtube.com/channel/UCY2ifv8iH1Dsgjrz-h3lWLQ to use the Alpaca API to place trades automatically. I have checked other brokers’s API and I believe the Alpaca is the easiest one and it is very well documented too

If anyone needs a developer. Feel free to hit me up. spicer@cloudmanic.com. We have built tons of algos on top of Alpaca (and other brokers).

same here krisgcell@gmail.com

or here: peter.bakker@insead.edu