Fully-Disclosed Fintech Referral Partner

Under the Fintech Referral Partner model, you act as a technology provider and do not need to be a registered dealer in your local jurisdiction. Alpaca Europe acts as the dealer of record and bears full regulatory responsibility for Know Your Client (KYC) and Account Appropriateness under the Order Execution Only (OEO) framework. Unlike the US model, Alpaca does not rely on your KYC process; instead, you will submit the required customer data, and Alpaca will perform identity verification directly via our integrated Customer Identification Program (CIP) vendors, such as Trulioo.

In this setup, as soon as a POST request is made and all fields are validated, the account enters the ONBOARDING or SUBMITTED status. Alpaca Europe automatically runs identity verification, watchlist screening (including Sanctions and Politically Exposed Persons (PEPs)), and an appropriateness review. If the checks pass without issue, the account moves to APPROVED. If a match is found or discrepancies arise, the account will move to APPROVAL_PENDING for manual supervisor review or ACTION_REQUIRED if the user needs to upload additional documentation.

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.