Commissions/margin Disclosure
Commission-free trading is available to Alpaca's retail customers. Commission-free trading means that there are no commission charges for Alpaca self-directed individual cash brokerage accounts that trade U.S.-listed securities and options through an API. However, certain arrangements with authorized business partners or the use of the Elite Smart Router as part of the Alpaca Elite offering may preclude commission free trades by Alpaca Securities.
Please refer to the Brokerage Fee Schedule for more information. Relevant regulatory fees may apply. Alpaca reserves the right to charge additional fees if it is determined that order flow is non-retail in nature.
Margin trading involves significant risk and is not suitable for all investors. Before considering a margin loan, it is crucial that you carefully consider how borrowing fits with your investment objectives and risk tolerance.
When trading on margin, you assume higher market risk, and potential losses can exceed the collateral value in your account. Alpaca may sell any securities in your account, without prior notice, to satisfy a margin call. Alpaca may also change its “house” maintenance margin requirements at any time without advance written notice. You are not entitled to an extension of time on a margin call. Please review the Firm’s Margin Disclosure Statement before investing.