Alpaca Blog | Developer API for commission-free stock trading

Updated Pricing for Crypto Trading on Trading API

TL;DR

We’re implementing a new and improved tier-based* crypto pricing structure. The new tier-based fee model will create a more transparent experience when you trade crypto on Alpaca. Pricing will go into effect beginning June 1, 2022.

How do crypto fees work?

Trading costs for crypto come in many forms, including spread based markups and trading fees. We’re excited to launch an improved crypto trading fee model that will provide a more transparent experience for customers. You will now be able to clearly see how much of the trade cost is associated with the executed notional value versus the cost of fees.

Crypto trading fees, similar to stock trading fees, can also be referred to as a transaction fee or commission fee, all of which describe an additional charge for every trade.

Example: Larry purchases $100 in Bitcoin via Trading API. Based on Larry's 30 day trading volume he is in Tier 1 and will be charged 0.30% on top of the execution price, equaling $0.30 in fees. Therefore, Larry paid a total of $100.30 for $100 in Bitcoin.

Alpaca’s Crypto Trading Fees for Trading API

Tier

30d vol (USD)

via Trading API

via Dashboard / OAuth

1

0

0.30%

0.50%

2

>500,000

0.28%

0.40%

3

>1,000,000

0.25%

0.30%

4

>5,000,000

0.20%

0.25%

5

>10,000,000

0.18%

0.20%

6

>25,000,000

0.15%

0.15%

7

>50,000,000

0.125%

0.125%

8

>100,000,000

0.10%

0.125%

*Tiers are re-calculated every day at 3am EST and are based on your total trading volume over the past 30-day period in USD.


How are Trading API users affected?

Since the launch of crypto trading on Alpaca, users trading crypto were shown an all-inclusive price that included a spread markup. We are now moving from a spread markup to a fee-based model. As we continue to evolve our crypto product, we decided to introduce a transparent crypto trading fee structure based on valuable feedback from our community.

Designed with our Trading API algo traders and developers in mind, the tiered fee model now offers you the ability to achieve lower trading costs with higher volumes.

Crypto trades will now display the execution prices not inclusive of fees. Crypto fees, displayed separately, will be calculated via a tiered system based on trading volume over a 30-day period, and will vary based on the platform used to trade (i.e. web dashboard vs. Trading API). Generally, customers who trade via API will have lower fees versus traders who submit orders through Alpaca’s web dashboard or an OAuth app.

More Details

For more information about crypto trading fees, please read our Crypto FAQs.


Moving Forward

Alpaca began as a developer focused commission-free trading platform for equities trading. When we first launched crypto on our platform last year, we did so with messaging that crypto was also commission-free. Having recently expanded our crypto offering, we’ve chosen to implement a fee structure that is consistent with the crypto industry standards and no longer market our crypto products as commission-free.

As we continue to grow and build new crypto products, we’ll continue to focus on transparency and early communication of changes that may occur. We are excited to be on this journey with you and thank you for your understanding.

If you have any questions about the new fee structure, please reach out to support@alpaca.markets.


This content is for general informational purposes only and is believed to be accurate as of the posting date, but may be subject to change.

Cryptocurrency services are made available by Alpaca Crypto LLC ("Alpaca Crypto"), a FinCEN registered money services business (NMLS # 2160858), and a wholly-owned subsidiary of AlpacaDB, Inc. Alpaca Crypto is not a member of SIPC or FINRA. Cryptocurrencies are not stocks and your cryptocurrency investments are not protected by either FDIC or SIPC. Depending on your location, cryptocurrency services may be provided by West Realm Shires Services, Inc., d/b/a FTX US (NMLS #1957771).

This is not an offer, solicitation of an offer, or advice to buy or sell securities or cryptocurrencies, or open a brokerage account or cryptocurrency account in any jurisdiction where Alpaca Securities, Alpaca Crypto, or FTX US respectively, are not registered or licensed, as applicable.

Cryptocurrency is highly speculative in nature, involves a high degree of risks, such as volatile market price swings, market manipulation, flash crashes, and cybersecurity risks. Cryptocurrency is not regulated or is lightly regulated in most countries. Cryptocurrency trading can lead to large, immediate and permanent loss of financial value. You should have appropriate knowledge and experience before engaging in cryptocurrency trading. For additional information, please click here.

Please see alpaca.markets and Alpaca’s Disclosure Library for more information.

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