Alpaca Elite Low-Cost, Advanced Algorithmic Trading with White-Glove Support

Alpaca Elite is a packaged solution designed to elevate your trading journey. Whether you're looking to optimize your trading strategies with higher API limits, premium order types, and enhanced cost-effective execution, or seeking access to a team of experts to streamline operational efficiency, Alpaca Elite is designed to fulfill all your needs and more.

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Alpaca Elite, Low-Cost, Advanced Algo-Trading with Dedicated Support

For Advanced Traders & Quant Funds

Elite Smart Router

Elite Smart Router

A wide array of advanced investing and trading strategies are supported with higher API limit and cost-effective pricing.

Lower Margin Rate

Lower Margin Rate

Competitive rate at 5.5% (base rate + 1.0%). Non-elite rate is 7.0% (base rate + 2.5%)
*Base rate refers to the Fed Funds Rate

FIX API + Next-Gen OMS

FIX API + Next-Gen OMS

Easily integrate with our APIs and execute multiple strategies at low latency with our FIX messaging and next-gen OMS.

White-Glove Account Support

White-Glove Account Support

High-touch account management support from a team of experts to ensure efficient operational management.

Free Market Data Subscription

Free Market Data Subscription

Get Algo Trader Plus on us (value of $99/month). Only for personal use.

Asset Class Diversification

Asset Class Diversification

Trade stocks, ETFs, options, and crypto—all in one place. Earn interest on your idle cash and increase buying power with our High Yield Cash* program.

Deposit $30,000 to unlock

Elite Smart Router

Eligible to switch to an institutional-grade electronic trading strategy for enhanced order execution (commission-applies).

High Interest Stock Lending

Elite users are eligible to earn 50% of the interest income on shares that are on loan. Maximize your returns with Alpaca's Stock Lending Program.

Deposit $30,000 to unlock
Commission-Free

Commission-Free

For Retail Investors

  • $0 Commissions on US listed stocks, ETFs, and options
  • No minimum deposit required
Elite Smart Router

Elite Smart Router

For Advanced Traders

  • Advanced order execution with low costs
  • Premium order types
  • Low minimum deposit required

Commissions

US Exchange-listed stocks / ETFs

US Exchange-listed Options

Crypto (only available to selected regions see here)

$0
$0
All-in (fixed) or Cost Plus (tiered) See Pricing Comparison
$0

Eligible Accounts

Retail Investors

Business Accounts

Minimum Net Deposit

$0
$30,000

Account Features

Paper Trading

API Trading

API Calls Limit

Extended Hours Trading

200 calls / minute
1000 calls / minute

Premium Order Types

MOO / LOO
(Market Open / Limit Open)

MOC / LOC
(Market Close / Limit Close)

IOC (Immediate or cancel)

VWAP, TWAP, Pegged, Midpoint

Coming Soon

Elite Smart Router: Pricing Comparison for Stocks Trading

Monthly Shares Traded*

Up to 200,000
200,001 to 1,000,000
1,000,001 to 10,000,000
10,000,001 to 50,000,000
50,000,001 or more
Pass-Through Fees

All-in (Fixed)

$0.0040
Regulatory Fees

Cost Plus (Tiered)

$0.0025
$0.0020
$0.0015
$0.0010
$0.0005
Regulatory Fees
Exchange Fees or Rebates

*The total number of shares that have been traded within a given month and will be reset at the beginning of the following month.

All-in Plan

A straightforward, predictable cost structure at $0.0040 per share, encompassing all potential fees and rebates (not including regulatory fees).

Cost Plus Plan

Exchange fees or rebates are directly passed back to you. Alpaca will charge $0.0025 or lower with volume tiering as a commission on top of your pass-through fees or rebates. Depending on your order flows, you may receive rebates that can offset the Alpaca commission to lower your overall trading cost.

Deposit $100,000 to unlock

Lower Margin Rate

Lower Margin Rate

Competitive rate at 5.5% (base rate + 1.0%). Non-elite rate is 7.0% (base rate + 2.5%).
*Base rate refers to the Fed Funds Rate

Free Market Data Subscription

Free Market Data Subscription

Get Algo Trader Plus on us (value of $99/month) - only for personal use.

White-Glove Account Support

White-Glove Account Support

High-touch account support from a team of experts to ensure efficient operational management.

Frequently Asked Questions

How can I join Alpaca Elite?
Sign up for an account and deposit $30,000 today. Happy trading!
Do I need to apply to receive the perks?
No, with a $30,000 deposit, you are eligible to switch to the Elite Smart Router. With a $100,000 deposit, you will automatically receive a lower margin rate, free market data subscription, and white-glove account support.
What is Elite Smart Router?
It is an institutional-grade electronic trading strategy offering cost-effective solutions with higher API limits and premium order types. For example, Alpaca will try to access dark and non-displayed liquidity before crossing the spread on marketable orders.
Does qualifying for Alpaca Elite automatically switch me to Elite Smart Router?
No, Elite users can stay commission-free as long as the order flows remain retail in nature. See here for factors that could flag a user as non-retail.
How does pricing work for Elite Smart Router?
All-In Plan: $0.0040 per share, encompassing all potential fees and rebates (not including regulatory fees)

Cost-Plus Plan: $0.0025 or lower per share with volume tiering as a commission on top of your pass-through fees or rebates. Depending on your order flows, you may receive rebates that can offset the Alpaca commission to lower your overall trading cost.

Cost Plus example 1:
Buy 10 shares of XYZ @ market price
Order is executed on an exchange that charges a fee to take liquidity of $0.0020 per share
User is charged 10 x $0.0020 = $0.020 for exchange fees
User is charged 10 x $0.0020 = $0.020 of commission from Alpaca
User is charged $0.040

Cost Plus example 2:
Buy 10 shares of XYZ limit price of $10
Limit price is not marketable and therefore the limit order rests in the orderbook of an exchange
Order is eventually executed at the limit price and exchange pays a rebate of $0.0018 per share
User receives 10 x $0.0018 = $0.018 rebate from exchange
User is charged 10 x $0.0020 = $0.020 of commission from Alpaca
User is charged $0.002


Notes:
  • The examples above are only indicative and will depend on where the orders are actually executed. Alpaca utilizes an institutional grade smart order router that has access to a variety of exchanges, ATS and dark pools.
  • The examples above do not consider REG and TAF fees
Alpaca Securities LLC is a member of Financial Industry Regulatory Authority, Inc

Alpaca Securities

Alpaca Securities LLC is a member of Financial Industry Regulatory Authority, Inc. (FINRA) and Depository Trust & Clearing Corporation (DTCC).

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. For details, please visit www.sipc.org

Get Started Today!

Have questions or need assistance? Our customer support team is here to help. Contact us at [email protected] and we are happy to assist.

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