Funding Wallets for Broker API

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What is Funding Wallets for Broker API?

Funding Wallets allows you to create a dedicated wallet with a distinct account number for each user to deposit funds into. This completely eliminates the need for your users to send their Alpaca account number in the wire description as required today. With this solution, your end users will have a smoother funding experience as Alpaca Securities LLC (“Alpaca”) will be able to quickly and reliably identify how incoming deposits should be allocated to each brokerage account in our system without any additional input from you or your end users. In addition, this solution allows your users to deposit funds in local currencies and via local rails provided that it is supported in your region.

What Funding Flow Does Funding Wallets Support?

This product solution is designed to accommodate situations where your end-users directly fund their accounts. If your end-users are responsible for funding their accounts, you are eligible to implement this solution

If Funds are Sent in Non-USD will they be converted to USD?

Yes, If funds are sent in supported non-USD currency, all funds will be converted to USD immediately upon receipt.

What payment types are supported with Funding Wallets?

Funding Wallets is targeted towards international wires. With this solution, your end-users will have the ability to deposit funds via an international wire or leverage local rails if it is available in their region.

Are deposits to BMO still supported?

We will continue to support deposits to BMO as this change is backward compatible. If deposits are made to BMO, the Alpaca account number must be included in the wire description. Failure to include the Alpaca account number may result in funds being returned to the originator.

What fees are incurred with Funding Wallet transfers?

There is no added fee to use Funding Wallets and it is free to make deposits to Funding Wallets. There will be a withdrawal fee which will vary depending on the payment rail you are leveraging. Payments not made in USD will be subject to an FX fee since all deposits to Alpaca will settle in USD and all withdrawals will originate in USD.

Is there a limit on the number of wallets created?

For now, there is a limit of 1 wallet per Alpaca account. Each wallet can have multiple different funding details which gives you the flexibility to choose which payment rail and currency works best for you.

Is it possible to delete a wallet after it’s created?

Wallets cannot be deleted after they are created. We will disable the wallet once the Alpaca account is closed so any deposit made to a disabled funding wallet will be returned back to the originating bank.

Will Funding Wallets be shown in Broker API Dashboard?

Funding Wallets are not displayed in the Broker API Dashboard at this time.

How fast will money transfer occur with Funding Wallets?

We will support both swift wire and local rail deposits and withdrawals so the settlement time is dependent on the rail that is being utilized. If the deposit is made in non-USD or the withdrawal is requested in non-USD then a currency conversion will take place which may delay settlement times as well.

Are there new types of SSE events for funding wallets?

Currently, Funding Wallet transfers are not relayed via SSE events.
Updates will be relayed via the GET funding wallet transfers endpoint as we receive them so we recommend using this endpoint for real-time updates.

What local currencies are supported?

The following currencies are available for deposits via swift wire:

Australian Dollar (AUD)
Bahrain Dinar (BHD)
Bulgarian Lev (BGN)
Canadian Dollar (CAD)
Chinese Yuan (CNH)
Czech Koruna (CZK)
Danish Krone (DKK)
Euro (EUR)
Hong Kong Dollar (HKD)
Hungarian Forint (HUF)
Israeli Shekel (ILS)
Japanese Yen (JPY)
Kenyan Shilling (KES)
Kuwait Dinar (KWD)
Mexican Peso (MXN)
New Zealand Dollar (NZD)
Norwegian Krone (NOK)
Omani Rial (OMR)
Polish Zloty (PLN)
Qatar Rial (QAR)
Romanian Leu (RON)
Saudi Riyal (SAR)
Singapore Dollar (SGD)
South African Rand (ZAR)
Swedish Krona (SEK)
Swiss Franc (CHF)
Thai Baht (THB)
Turkish Lira (TRY)
Ugandan Shilling (UGX)
UK Sterling (GBP)
United Arab Emirates Dirham (AED)

We support some or all of our products and services in all of the countries listed. Within each country, the products and services available may also vary due to local restrictions. This is not an offer or solicitation for any product or service that is not available to a user.

What regions are supported for local rail deposits?

The following regions support collection via local rails:

Austria
Belgium
Bulgaria
Canada
Croatia
Czech Republic
Denmark
Estonia
Finland
France
Germany
Greece
Hungary
Ireland
Italy
Latvia
Lithuania
Luxembourg
Netherlands
Norway
Poland
Portugal
Romania
Slovakia
Slovenia
Spain
Sweden
United Kingdom
Vatican

What regions are supported for local rail withdrawals?

Australia
Austria
Belgium
Canada
Croatia
Czech Republic
Denmark
Estonia
Finland
France
Germany
Greece
Hong Kong
Hungary
India
Indonesia
Ireland
Italy
Latvia
Lithuania
Luxembourg
Malaysia
Mexico
Netherlands
Norway
Philippines
Poland
Portugal
Romania
San Marino
Singapore
Slovakia
Slovenia
Spain
Sweden
United Kingdom
Vatican

What regions are supported for deposits to Funding Wallets?

Åland Islands
Algeria
American Samoa
Andorra
Angola
Anguilla
Antigua and Barbuda
Argentina
Armenia
Aruba
Australia
Austria
Azerbaijan
Bahamas
Bahrain
Bangladesh
Barbados
Belgium
Belize
Benin
Bermuda
Bhutan
Bolivia
Bonaire, Sint Eustatius and Saba
Bosnia - Herzegovina
Botswana
Bouvet Island
Brazil
British Indian Ocean Territory
British Virgin Islands
Brunei Darussalam
Bulgaria
Cambodia
Cameroon
Canada
Cape Verde
Cayman Islands
Chad
Chile
China
Christmas Island
Cocos(Keeling) Islands
Comoros
Cook Islands
Costa Rica
Croatia
Curacao
Cyprus
Czech Republic
Côte D'Ivoire
Denmark
Djibouti
Dominica
Ecuador
Egypt
Equatorial Guinea
Estonia
Falkland Islands(Malvinas)
Faroe Islands
Fiji
Finland
France
French Guiana
French Polynesia
French Southern Territories
Gabon
Gambia
Georgia
Germany
Ghana
Gibraltar
Greece
Greenland
Grenada
Guadeloupe
Guam
Guernsey
Guinea
Heard Island and McDonald Islands
Hong Kong
Hungary
Iceland
India
Indonesia
Ireland
Isle of Man
Israel
Italy
Jamaica
Japan
Jersey
Jordan
Kenya
Kiribati
Kosovo
Kuwait
Kyrgyzstan
Lao People's Democratic Republic
Latvia
Lesotho
Liberia
Liechtenstein
Lithuania
Luxembourg
Macau
Macedonia
Madagascar
Malawi
Malaysia
Maldives
Malta
Marshall Islands
Martinique
Mauritania
Mauritius
Mayotte
Mexico
Micronesia
Monaco
Mongolia
Montenegro
Montserrat
Morocco
Mozambique
Namibia
Nauru
Nepal
Netherlands
Netherlands Antilles
New Caledonia
New Zealand
Niger
Niue
Norfolk Island
North Mariana Islands
Norway
Oman
Palau
Panama
Papua New Guinea
Paraguay
Peru
Philippines
Pitcairn
Poland
Portugal
Puerto Rico
Puerto Rico
Qatar
Republic of the Congo
Romania
Rwanda
Réunion
Saint Berthélemy
Saint Helena, Ascension and Tristan
Saint Martin(French part)
Saint Pierre and Miquelon
Samoa
San Marino
Saudi Arabia
Serbia
Seychelles
Sierra Leone
Singapore
Slovakia
Slovenia
Solomon Islands
South Africa
South Georgia and the South Sandwich Islands
South Korea
Spain
Sri Lanka
St Kitts & Nevis
St Lucia
St Maarten
St. Vincent and the Grenadines
Suriname
Svalbard and Mayen
Swaziland
Sweden
Switzerland
São Tomé and Principe
Taiwan
Tajikistan
Tanzania
Thailand
Timor-Leste
Togo
Tokelau
Tonga
Trinidad & Tobago
Tunisia
Turkey
Turks & Caicos
Tuvalu
Uganda
United Arab Emirates
United Kingdom
United States
United States Minor Outlying Islands
United States Virgin Islands
Uruguay
Uzbekistan
Vatican City State
Vietnam
Wallis and Futuna
Zambia

Disclosures

Brokerage services are provided by Alpaca Securities, member FINRA / SIPC, a wholly-owned subsidiary of AlpacaDB, Inc.

Technology and services are offered by AlpacaDB, Inc.

Brokerage services are provided to customers who can write automated investment code and self-direct their own investments. Alpaca brokerage services are only provided to customers who agree to electronically sign agreements and agree to receive messages, confirmations, and statements electronically. Is Alpaca right for me?

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.

The Paper Trading API is offered by AlpacaDB, Inc. and does not require real money or permit a user to transact in real securities in the market. Providing use of the Paper Trading API is not an offer or solicitation to buy or sell securities, securities derivative or futures products of any kind, or any type of trading or investment advice, recommendation or strategy, given or in any manner endorsed by AlpacaDB, Inc. or any AlpacaDB, Inc. affiliate and the information made available through the Paper Trading API is not an offer or solicitation of any kind in any jurisdiction where AlpacaDB, Inc. or any AlpacaDB, Inc. affiliate (collectively, "Alpaca") is not authorized to do business.

You should know that the use or granting of any third party access to your account information or place transactions in your account at your direction is solely at your risk. Alpaca does not warrant against loss of use or any direct, indirect or consequential damages or losses to you caused by your assent, expressed or implied, to a third party accessing your account or information, including access provided through any other third party apps, systems, or sites.

Market prices, data and other information available through Alpaca are not warranted as to completeness or accuracy and are subject to change without notice.System response and account access times may vary due to a variety of factors, including trading volumes, market conditions, system performance, and other factors.A more complete description of the impact these factors may have can be found in our risks of automated trading systems section.

All investments involve risk and the past performance of a security, or financial product does not guarantee future results or returns. Keep in mind that while diversification may help spread risk it does not assure a profit, or protect against loss, in a down market. There is always the potential of losing money when you invest in securities, or other financial products. Investors should consider their investment objectives and risks carefully before investing.

There are risks unique to automated trading algorithms that you should know about and plan for. You should setup a method or system of continuous monitoring or alerting to let you know if there is a mechanical failure, such as connectivity issues, power loss, a computer crash, or system quirk. You should also monitor for instances where your automated trading system experiences anomalies that could result in errant, missing, or duplicated orders. A more complete description of these and other risks can be found in our FAQ section.

Conditional orders may have increased risk as a result of their reliance on trigger processing, market data, and other internal and external systems. Such orders are not sent to the market until specified conditions are met. During that time, issues such as system outages with downstream technologies or third parties may occur. Conditional orders triggering near the market close may fail to execute that day. Furthermore, our executing partner may impose controls on conditional orders to limit erroneous trades triggering downstream orders. Alpaca Securities may not always be made aware of such changes to external controls immediately, which may lead to some conditional orders not being executed. As such, it is important to monitor conditional orders for reasonability. Conditional orders are “Not Held” orders whose execution instructions are on a best efforts basis upon being triggered. Furthermore, conditional orders may be subject to the increased risks of stop orders and market orders outlined above. Given the increased potential risk of using conditional orders, the client agrees that Alpaca Securities cannot be held responsible for losses, damages, or missed opportunity costs associated with market data problems, systems issues, and user error, among other factors. By using conditional orders the client understands and accepts the risks outlined above. Alpaca Securities encourages leveraging the use of Paper accounts to become more comfortable with the intricacies associated with these orders.

ETFs can entail risks similar to direct stock ownership, including market, sector, or industry risks. Some ETFs may involve international risk, currency risk, commodity risk, and interest rate risk. Trading prices may not reflect the net asset value of the underlying securities.

All accounts are opened as limited purpose margin accounts. You should know that margin trading involves interest charges and risks, including the potential to lose more than deposited or the need to deposit additional collateral in a falling market. Before using margin, customers must determine whether this type of trading strategy is right for them given their specific investment objectives, experience, risk tolerance, and financial situation. For more information please see Alpaca's Margin Disclosure Statement and Margin Agreement. These disclosures contain information on Alpaca Securities's lending policies, interest charges, and the risks associated with margin accounts.

Commission-Free trading means that there are no commission charges for Alpaca Securities self-directed individual brokerage accounts that trade U.S. listed securities through an API. Relevant regulatory fees may apply.

Commission free trading is available for Alpaca's retail customers. Alpaca reserves the right to charge additional fees if it is determined that orders flow is non-retail in nature.

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.

Cryptocurrency services are made available by 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. Please see the Disclosure Library for more information.