Disclosures

Options trading is not suitable for all investors due to its inherent high risk, which can potentially result in significant losses. Please read Characteristics and Risks of Standardized Options before investing in options.

Fixed income securities can experience a greater risk of principal loss when interest rates rise. These investments are also subject to additional risks, including credit quality fluctuations, market volatility, liquidity constraints, prepayment or early redemption, corporate actions, tax implications, and other influencing factors.

Tokenized assets are highly speculative and may not be appropriate for all investors. Tokenized assets may involve complex and risky underlying contractual or transactional arrangements and may involve the potential for losing your entire investment in a relatively short period of time. Tokenized assets may be exposed to significant and potentially uncertain risks, including risks associated with the underlying companies, such as market volatility, financial performance, corporate actions, regulatory developments, and economic conditions, and to the financial and operational risks of the respective tokenized asset issuer, which include risks related to creditworthiness, operations and technology, and the potential insolvency of the issuer. Risks related to the issuer of a particular tokenized asset exist irrespective of the performance of the underlying equity securities. You should review all applicable disclosures and risk factors before transacting in tokenized assets. By transacting in tokenized assets, you are taking full responsibility for all trading actions, and should make every effort to understand the risks involved.

Tokenized assets are not registered with the SEC and are not insured or guaranteed by the Federal Deposit Insurance Corporation (“FDIC”), the Securities Investor Protection Corporation (“SIPC”), or any other regulatory or governmental body.

Cryptocurrency services are provided by Alpaca Crypto LLC, a FinCEN-registered MSB (NMLS #2160858) and subsidiary of AlpacaDB, Inc. Cryptocurrency assets are highly volatile and speculative, involving substantial risk of loss, and are not insured by the FDIC or any government agency. Customers should be aware of the various risks prior to engaging these services, including potential loss of principal, cybersecurity considerations, regulatory developments, and the evolving nature of digital asset technology. For additional information on the risks of cryptocurrency, please click here.

Securities brokerage services are provided by Alpaca Securities LLC, member FINRA/SIPC, a wholly owned subsidiary of AlpacaDB, Inc. All investments involve risk; for more information, please see our Disclosure Library.

AlpacaDB, Inc., the parent company of Alpaca Securities LLC and Alpaca Crypto LLC, provides services and technology, including the brokerage infrastructure API supporting Alpaca’s financial services. 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 or Alpaca Crypto, respectively, are not registered or licensed, as applicable.

Please read Important Risk Disclosures With Respect To Participating In Fully Paid Securities Lending Transactions carefully before deciding whether to participate in lending Fully Paid Securities or agreeing to enter into a Master Securities Lending Agreement with Alpaca Securities LLC.

These disclosures describe important characteristics of, and risks associated with engaging in, securities-lending transactions.

Alpaca Securities offers a high-yield cash management program pursuant to the FDIC Bank Sweep. Customer funds are treated differently and are subject to separate regulatory regimes depending on whether customer funds are held in their brokerage account or within the FDIC Bank Sweep. Specifically, Alpaca Securities is a member of the Securities Investor Protection Corporation (SIPC), which protects securities customers of its members up to $500,000 (including $250,000 for claims for cash). The Federal Deposit Insurance Corporation (FDIC) insures up to $250,000 per deposit against the failure of an FDIC member bank. Customer funds held in brokerage accounts are SIPC insured, but are not eligible for FDIC insurance coverage. Funds maintained in the FDIC Bank Sweep are intended to be eligible for pass-through FDIC insurance coverage, but are not subject to SIPC coverage. FDIC insurance coverage does not protect against the failure of Alpaca, Alpaca Securities, or any of its or their affiliates and/or malfeasance by any Alpaca or Alpaca Securities employee. Program banks that participate in the FDIC Bank Sweep are not members of SIPC and therefore funds held in the Program are not SIPC protected. Please see alpaca.markets/disclosures for important additional disclosures regarding Alpaca Securities brokerage offering as well as FDIC Bank Sweep terms and conditions.

Orders placed outside regular trading hours (9:30 a.m. – 4:00 p.m. ET) may experience price fluctuations, partial executions, or delays due to lower liquidity and higher volatility.

Orders not designated for extended hours execution will be queued for the next trading session.

Additionally, fractional trading may be limited during extended hours. For more details, please review Alpaca Extended Hours & Overnight Trading Risk Disclosure.

Alpaca does not make any representation that its products or services are Shariah-compliant. Customers are solely responsible for determining whether any offering meets their own Shariah requirements.