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 benchmark* plus 1.5% (reduced rate from benchmark* plus 3.0%).
* Benchmark refers to the Fed Funds Rate

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.

Deposit $30,000 to unlock

Elite Smart Router

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

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

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 benchmark* plus 1.5% (reduced rate from benchmark* plus 3.0%).
* Benchmark 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 hello-elite@alpaca.markets and we are happy to assist.

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