This is the documentation for the Alpaca Europe Broker API, designed to help Fintech Referral Partners (such as neobanks and wealth apps) and European Investment Services Firms, such as Agencias de Valores (Brokers) and Sociedades de Valores (Broker-Dealers), embed regulated trading services directly into their platforms for their European end users.

With the Alpaca Europe Broker API, you can build a complete, MiFID II and CNMV-compliant brokerage experience. This includes orchestrating fully disclosed account opening, managing local European funding, and offering a seamless Local Currency Trading (LCT) experience that allows users to buy and sell US equities and ETFs using Euros (EUR).

This document describes everything you need to know to securely build your investing application using our isolated "Two-Ledger" architecture, ensuring sensitive client data remains in Europe in compliance with the GDPR and the Spanish Data Protection Agency (AEPD), while executing trades on US markets.

Broker API Use Cases

There are several different use cases for Broker API integration in Europe. Below are our primary focus areas, but please do not hesitate to reach out to our sales team if you have a different case in mind. We want our platform to encourage a broad range of financial innovation.

• Fintech Referral Partners: Tailored for non-registered technology companies—such as neobanks, crypto platforms, and wealth/savings apps—that want to embed our MiFID II and CNMV-regulated brokerage API directly into their platform for their end users under the execution-only framework.
• European Investment Services Firms (ESIs): Built for other MiFID II-regulated entities, such as Agencias de Valores (Brokers) and Sociedades de Valores (Broker-Dealers), seeking a modern carrying broker infrastructure to offer their clients access to US markets (equities, options, fixed income).

We are building our platform to support a growing number of European business models.

Depending on the case, the API methods you want to use could vary. For example, under the Fintech Referral Partner model, you will use our API to open a fully disclosed customer account in the Europe Ledger (which securely collects the required PII for GDPR, AML, and MiFID II compliance). Under the hood, Alpaca Europe's infrastructure automatically orchestrates the creation of an anonymized, non-disclosed OmniSub account in the US Ledger to handle trade execution, ensuring no sensitive data ever crosses the border. More details on each use case are described in the following sections.