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Alpaca

by Alpaca (AlpacaDB, Inc.) · API service · also known as Alpaca Markets, Alpaca Trading API, alpaca-py

API-first US brokerage offering a Trading API, Market Data API and Broker API for stocks, ETFs, options and crypto, with paper trading

Apache-2.0 licenseFreemiumUsage-basedPaidCloud
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Link verified Nov 2, 2026

Overview

Alpaca is an API-first brokerage and market-data provider in the financial analysis and investing category. Developers open an account and interact entirely through REST and WebSocket endpoints: the Trading API places and manages orders for US stocks, ETFs, options and crypto; the Market Data API streams quotes, trades and bars and serves historical data; and the Broker API lets fintech apps open and manage end-customer accounts. A free paper-trading environment mirrors the live API, and official SDKs include the Apache-licensed alpaca-py plus libraries for other languages. The service is cloud-hosted, so no local gateway is needed, which makes it a common choice for bots and research pipelines. Coverage is centered on US markets, real-time data breadth depends on the subscribed data plan, and brokerage services are subject to US regulatory eligibility.

Capabilities

  • Order management for US equities, ETFs, options and crypto
  • Real-time and historical market data over REST and WebSocket
  • Paper trading environment identical to live endpoints
  • Broker API for embedding brokerage in applications
  • Official SDKs including alpaca-py
  • OAuth for third-party app connections

Typical workflows

  1. Prototype a bot against paper trading, then switch keys to live
  2. Backfill minute bars for research through the data API

Strengths

  • No desktop gateway; pure cloud API
  • Free paper trading
  • Apache-2.0 SDK

Limitations

  • US-centric market coverage
  • Full real-time data feeds require paid data plans
  • Account eligibility depends on jurisdiction

Prerequisites

  • Alpaca account and API keys

Who it is for

  • Developers building trading bots
  • Fintech teams embedding brokerage
  • Students learning with paper trading

Alternatives & comparison

Interactive Brokers reaches many more markets but requires a running gateway for its main API; Alpaca is simpler to integrate and US-focused. Kraken is crypto-only. QuantConnect can trade through Alpaca as one of its brokerages.

  • Interactive Brokers API

    Programmatic trading and market-data access to Interactive Brokers accounts through the TWS API, the REST-based Web API and FIX

    ProprietaryUsage-based
  • Kraken API

    REST, WebSocket and FIX interfaces to the Kraken cryptocurrency exchange for market data, spot and derivatives trading and account management

    ProprietaryFree
  • QuantConnect

    Algorithmic trading platform built on the open-source LEAN engine, with cloud backtesting, research notebooks and brokerage-connected live trading

    MixedFreemium
Compare Alpaca with its alternatives →

Sources & verification

Primary sources consulted for this record. Claims are tied to the fields each source supports; the automated link checker re-verifies every URL on a schedule.

  • License
    alpaca-py LICENSE (Apache 2.0)

    https://github.com/alpacahq/alpaca-py/blob/master/LICENSE

    Supports: license_spdx

    License applies to the SDK, not the service

    checked Nov 1, 2026
  • Official documentation
    Alpaca documentation

    https://docs.alpaca.markets/

    Supports: capabilities, interfaces

    checked Nov 1, 2026
  • Official site
    Alpaca

    https://alpaca.markets/

    Supports: name, summary

    checked Nov 1, 2026
  • Pricing page
    Alpaca pricing

    https://alpaca.markets/pricing

    Supports: pricing_model

    checked Nov 1, 2026
Confidence
High
Reviewed
Nov 1, 2026
Links
Verified · Nov 2, 2026

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