Fully-Disclosed Fintech Referral Partner

Under the Fintech Referral Partner model, you act as the client-facing entity and must be appropriately authorised in your local jurisdiction to conduct the regulated activities you perform with your customers (for example, reception and transmission of orders, investment advice, or portfolio management, as applicable). Alpaca Europe acts as the dealer of record and is responsible for trade execution and custody under the Order Execution Only (OEO) framework.

Because you are an authorised firm, Alpaca Europe is able to rely on your existing Know Your Client (KYC) processes, including identity verification and customer due diligence performed by you or your appointed CIP/AML provider. You will submit the required customer data and attestations through the Broker API, and Alpaca Europe will perform its own oversight checks — including watchlist screening (Sanctions and Politically Exposed Persons (PEPs)) and an Account Appropriateness review under the OEO framework — on top of the KYC you have already completed.

Account Type

Initially, Alpaca Europe opens all accounts as margin accounts. We support individual taxable accounts and corporate/business accounts under the execution-only framework. Support for European tax-advantaged registered accounts is on our strategic roadmap but will not be live on launch.

Account flow

As soon as a POST request is made and all fields are validated, the account enters the ONBOARDING or SUBMITTED status. Alpaca Europe then runs its oversight checks — watchlist screening (Sanctions and PEPs) and an appropriateness review — against the KYC data you have supplied. If the checks pass without issue, the account moves to APPROVED. If a screening match or a data discrepancy arises, the account will move to APPROVAL_PENDING for manual supervisor review, or to ACTION_REQUIRED if additional information or documentation is needed from the partner or the end customer.