We've had the opportunity to meet thousands of entrepreneurs and businesses, and one common theme is customer experience. At Alpaca, we strive to provide a flexible brokerage platform so that our partners can focus on creating the best user experience for their customers.
User experience and product personalization go hand-in-hand. For our international partners who need to embed app features localized to their customer's regions, seeing unfamiliar currency symbols can harm their experience and productivity. For non-US traders, converting buying power that’s displayed in USD ($) to their local currency is an extra step – these are the types of challenges our international partners need to take into account while building their apps.
Through many discussions with our partners, we have learned the importance of supporting localization natively within Alpaca’s platform. This is why we’re excited to announce the launch of a new feature that adds a key component to localizing customer experience – Local Currency Trading API. Now, you can embed US stock services such as trades, statements, prices, balances, statements, confirmations, and more in your customer’s local currency.
Embed a Complete Local Experience for International Retail Investors
International customers may be likely to think of money or stock prices in their local currency and time zone, which may not align with US stock market trading hours.
Key Benefits of App Localization
- Increase growth by connecting with retail investors in different countries.
- Delivering key features such as prices, statements, and balances in a country’s native currency can create a positive user experience.
- Simplify navigation within your app to increase retention and visibility.
Strengthen and Culturalize Customer Experience
Local Currency Trading API can help improve the customer experience by building US stock services in your customer's native local currency without worrying about currency conversion between the local currency and USD.
Enable Customers to Discover US Stock Prices in Local Currency
Create an intuitive customer and investing experience by allowing your users to view the value of stock prices, trades, performance, and statements in their local currency. This can help lead to increased growth, engagement, and customer retention. For instance, financial services providers based in Sweden can offer their customers the opportunity to buy 500 SEK (Swedish Krona) of AAPL and see its stock prices in SEK.
Build & Design the Best Customer Experience by Localizing Key App Features
A Cost Effective and Seamless Integration
Localizing an app and building features from the ground up can take time, money, resources, and coordination with multiple third-party providers, including FX marketplaces. By embedding Alpaca’s Local Currency Trading API, you can eliminate the need to start from scratch and are able to integrate app localization functionality seamlessly.
Create Additional Revenue Streams
By handling the FX within the Alpaca Broker API ecosystem, you can generate additional revenue* at the time of transactions via a flexible spread markup. This is dynamic and customizable, enabling you to easily configure spread markup based on your end-customer profiles or through strategic app promotions.
*This is only available if you are a licensed broker-dealer.
Submit and Settle Funds With Alpaca in Your Local Currency
To ease back-office operations, partners can submit and settle funds in accounts with Alpaca in their local currency. For instance, if you are based in Japan or the UK, you can settle funds with Alpaca by sending payments via Japanese Yen or Pound Sterling.
This feature also supports trade statements and confirmation documents displayed in your and your customer’s respective local currencies with proper disclosures and reporting built in.
Local Currency Trading API: Fees
Local Currency Trading API is available for all Alpaca partners. We will charge a flexible spread markup* based on the FX transaction.
*You will not be charged a markup fee on the equity transaction.
For Existing Broker API Partners
Partners in the Core plan should contact their Customer Success Manager to learn more. If you fall under the Essential plan, please reach out to [email protected].
Key Features of Local Currency Trading API
- 15+ currencies supported: GBP, CHF, EUR, CAD, JPY, AUD, CZK, SEK, DKK, SGD, HKD, HUF, NZD, NOK, MXN, PLN, with more coming soon!
- Localize app experience across North America, South America, Europe, Asia, and the Middle East.
- Empower your customers to view US stock trades, balances, and prices in local currency.
- Broker-dealers can unlock additional revenue from the fx spread by flexibly configuring spread markup to match customer profiles and promotions.
- Help ease back-office operations by settling funds in accounts with Alpaca in your local currency.
- Access statements and trade confirmations in the respective local currency.
- View server-sent-events and activity feeds in the respective local currency.
- Local Currency Trading API supports both the pre-funded or Just-in-Time funding model.
Get Started with Local Currency Trading API
Check out our learn article on how to get started and view our documentation for additional information. If you are new to Broker API and are interested in learning more about Local Currency Trading API or other features, please reach out to [email protected].
George A J Sanders
Please note that Alpaca will charge a flexible spread markup for broker partners using our Local Currency Trading feature. If you are an existing broker partner and would like to learn more about this new feature, please reach out to either your appointed Customer Success Manager or email at [email protected].
The content is for general information only and is believed to be accurate and reliable as of posting date but may be subject to change. Alpaca Securities LLC does not recommend any specific investments or investment strategies. Alpaca Securities LLC does not provide investment, tax, or legal advice.
Securities brokerage services are provided by Alpaca Securities LLC ("Alpaca Securities"), member FINRA/SIPC, a wholly-owned subsidiary of AlpacaDB, Inc. Technology and services are offered by AlpacaDB, Inc.
This is not an offer, solicitation of an offer, or advice to buy or sell securities, or open a brokerage account in any jurisdiction where Alpaca Securities LLC is not registered or licensed, as applicable.
