Alpaca Paper Only Account
Anyone globally can create an Alpaca Paper Only Account! All you need to do is sign up with your email address.
An Alpaca Paper Only Account is for paper trading only. It allows you to fully utilize the Alpaca API and run your algorithm in our paper trading environment only. You won’t be trading real money, but you will be able to track your simulated activity and balance in the Alpaca web dashboard. As an Alpaca Paper Only Account holder, you are only entitled to receive and make use of IEX market data. For more information about our paper trading environment, please refer to Paper Trading Specification.
Alpaca Brokerage Account
After creating an Alpaca Paper Only Account, you can enable live trading by becoming an Alpaca Brokerage Account holder. This requires you to go through an account on-boarding process with Alpaca Securities LLC, a FINRA member and SEC registered broker-dealer. Currently, we only support brokerage accounts for qualified U.S. residents.
With a brokerage account, you will be able to fully utilize Alpaca for your automated trading and investing needs. Using the Alpaca API, you’ll be able to buy and sell stocks in your brokerage account, and you’ll receive real-time consolidated market data. In addition, you will continue to be able to test your strategies and simulate your trades in our paper trading environment. And with the Alpaca web dashboard, it’s easy to monitor both your paper trading and your real money brokerage account.
Individual Taxable Account
At this time, Alpaca Securities LLC only provides individual taxable brokerage accounts. For a more formal overview, please see the sign up page of the Alpaca Securities FAQ.
Account for LLC or other business entities?
We are currently working on supporting LLCs and other business entities. This feature and more will initially be available only as part of a new account plan designed specifically for high-volume algorithmic traders. This new account plan is not for everyone and may require certain conditions of your trading activity. Currently this program is only open to eligible U.S. residents. If you think this may be for you, please complete this form and we’ll contact you.
Paper Only Account vs Brokerage Account Features
|Feature||Alpaca Paper Only Account||Alpaca Brokerage Account|
|Eligibility||All||Qualified U.S. Residents|
|Commission-Free Live Trading||N/A||✓|
|Free IEX Real-Time Data||✓||✓|
|Free Consolidated Real-Time Data||❌||✓|
Currently, Alpaca only supports trading of listed U.S. stocks.