Limited account types

I’m hoping Alpaca will soon support IRA accounts. Nearly all my investment money is in those, so although your service sounds great, I really can’t use it yet. I have developed my own trading system that interacts with another API, but I like the zero commissions and probably superior API you offer.

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Yes. It will be great to have “Traditional”, “Rollover”, “ROTH” types of IRA.

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Hello Alpaca,

Making an inquiry after a month … Is there any progress here?

Is Alpaca going to offer “Traditional”, “Rollover”, “ROTH” types of IRA Accounts?

… IF “yes”
… …THEN … LMK the time-frame when IRA Accounts will be offered.
… … ELSE … LMK that
… … … … … (A) Alpaca won’t be offering IRA Accounts or
… … … … … (B) there is no time-frame available
… … … … … so that I won’t ask again.

Thanks.
~ Salil

i don’t see why they would, this is strictly api service.

Kris:

Is there any rule/regulation/statue that prevents a broker from offering “API service”, as well IRA Accounts simultaneously? (Or do you have an opinion why Alpaca might be unwilling/unable to offer IRA accounts? If yes, then share your opinion.)

Interactive Brokers offers “API services” for the IRA accounts already, therefore I guess there can’t be any rule/regulation/statue that will prevent Alpaca Brokerage from offering IRA Accounts.

Therefore, I’m making an inquiry with Alpaca. (If Alpaca is unwilling/unable to offer IRA accounts because of whatever reason, then that’s quite all right, but surely I’ll like to know answer to my earlier inquiry.)

~ Salil

I want to trade stocks in my IRA account using an API. I do this now with Interactive Brokers, but I think Alpaca may offer a better and less expensive alternative. There is no fundamental reason an API needs to be limited to non-IRA accounts. I imagine it’s an issue with Alpaca in getting around to meeting some government regulation requirements.

Salil, i see Interactive Brokers offers two separate services one being a API service and an IRA funding service. i didn’t see any documentation in regards to your statement ‘Interactive Brokers offers “API services” for the IRA accounts already’, as for your inquiry my personal opinion would be, there probably isn’t any plans as these are two separate and different concepts.

See https://www.interactivebrokers.com/en/index.php?f=45185.

Believe me, this works fine on IRA and non-IRA accounts. It allows me to get balances, outstanding positions and orders, and to place trades without regard to account type.

Kris:

If you are under the impression that two attributes (1) API Service (2) IRA Accounts are mutually exclusive, then you are mistaken.

If you have an opinion that for a broker it’s impossible to offer “API Service” for “IRA Accounts” then you are mistaken. (I’ve used API service offered by Interactive Brokers in my IRA accounts for 10+ years.)

You surely are entitled to your personal opinion, however LMK if this opinion of yours has any of legal, regulatory, or statutory backing? (Any IRS regulation? Any SEC rule? Any FINRA statute?)

~ Salil

CraigP:

Right … I also am finding the API offered by Alpaca a bit better than what’s offered by IBRK.

The Zero Commission trades offered by Alpaca is what’s keeping me interested in Alpaca. If/when Alpaca will start offering IRA Accounts, I will start shifting assets over to Alpaca. Until then I will keep checking from time-to-time if there is any progress made by Alpaca in this aspect.

(Actually that’s why I inquired about time-frame. If Alpaca is willing/able to disclose the time-frame then I don’t need to keep checking periodically - I’ll just set a calendar reminder regarding this, and will check-back according to the time-frame. … However if Alpaca states that they will never ever offer IRA accounts, then I’ll wish Alapca the very best, and I’ll stop visiting Alapaca.)

~ Salil

I can’t give a complete response as to why i believe IRA’s are irrelevant to alpacas services at the moment but if you’d like i can get back to you tomorrow on that.

Kris:

Sure … get back to me tomorrow with the belief of yours … there’s no rush.

Your speculation about why offering “API Service” and “IRA accounts” simultaneously, is irrelevant to Alpaca at the moment will be interesting to know.

~ Salil

Just out of curiosity what percentage do you gain annually ?

Kris:

Unfortunately you’re crossing the norms of conducting conversation with a stranger by exposing this curiosity of yours.

How about you stick to the topic of IRA Accounts, and Alpaca?

~ Salil

i was asking for the % on your ira its only around 6% annually ?

Kris:

And I am asking you stick to “IRA Accounts”, “API Services” and “Alpaca” which is the topic here.

(And I implied that don’t ask personal questions such as what you are asking which IMO cross the line of holding conversation with a stranger.)

~ Salil

Okay, Have a good day!
P.S: its not personal. its a general question, since generally they only make 6 % on average

Kris:

its not personal. its a general question, since generally they only make 6 % on average<<

Hmm … So you are asking a “general question” for which you already know the “general answer” … Isn’t that waste of time?

~ Salil