Alpaca vs DriveWealth: Features, Coverage and Pricing Compared (2026)
Updated November 10, 2026 · Reviewed by Benjamin Margolis
Alpaca and DriveWealth both let apps and banks offer US investing through an API. Alpaca is a self-clearing US broker-dealer with a public sandbox and a wide asset range, including options and crypto. DriveWealth is built for consumer apps outside the US, with fractional orders from $0.01 and an EU licence.
Our analysts compared the two on November 10, 2026, using each company's own product, pricing, and company pages and our full reviews of Alpaca and DriveWealth.
Choose Alpaca if
- you want options, bonds, or crypto too
- you want a public sandbox before talking to sales
- you want UK, EU, or India entities
Choose DriveWealth if
- you run a consumer app outside the US
- you want fractional orders from $0.01
- you want round-ups and stock rewards
Alpaca scores 77 and DriveWealth scores 73 in our ratings. Alpaca is broader on assets and developer access. DriveWealth is built for consumer apps adding US stocks.
Key Features Compared
Alpaca vs DriveWealth at a Glance, November 2026
| Feature | Alpaca | DriveWealth |
|---|---|---|
| Ratings | ||
| Fintech Index score | 77 / 100Higher score | 73 / 100 |
| Overview | ||
| What it is | Alpaca offers software connections, known as APIs, for running automated trading strategies and adding stock, options, and crypto trading to apps | DriveWealth supplies brokerage technology that lets banks, apps, and other companies offer trading in US stocks, exchange-traded funds, and fractional shares, meaning pieces of a share |
| Who it suits | Fintechs, brokers, and algorithmic traders; partners in 40+ countries | Consumer apps, banks, and digital wallets, including Acorns, Revolut, Freetrade, and MoneyLion |
| Main products | Broker API for KYC, account opening, funding, statements, and trading; Trading API with paper trading; tokenized stocks | Execution, custody, tax reporting, onboarding, and KYC and AML through one integration; fractional shares, rewards, and round-ups |
| Where it operates | Partners in 40+ countries, with UK and EU entities from WealthKernel and India through Zincmoney | Partners in 30+ countries, with an EU licence through Lithuania |
| Products and features | ||
| Holds client assets | Self-clearing US broker-dealer | Custody through its broker-dealer |
| Markets offered | 11,000+ US equities, options, T-bills, corporate bonds, German stocks, and 35+ crypto coins | US stocks and ETFs, fractional from $0.01 |
| Pricing | ||
| How pricing works | Partner pricing set by sales; public fee exhibit for correspondents | Sold through a contact form; contract terms negotiated with sales |
| Published prices | Partner pricing by quote | Quote only |
| Technology and compliance | ||
| Regulation and protection | Alpaca Securities LLC clears and holds assets itself; member of DTCC, OCC, and FICC; a $400,000 SEC penalty (2024) and a $300,000 FINRA fine (2026) on BrokerCheck | Bank of Lithuania licence since October 2024; excess SIPC coverage up to $50M per account |
| App and platform | Public documentation and a free sandbox | One integration; production in as little as 90 days |
| Integrations and partners | Trading in 15+ local currencies with 24/5 sessions | Up to 24-hour sessions in US equities |
| Onboarding and support | Free dashboard and sandbox, public API docs, community forum, status page, and Slack; partner support levels set per agreement | Solutions engineers, a dedicated Slack channel, and testing help during integration; relationship managers after launch |
| Company | ||
| Founded | 2015 | 2012 |
| Headquarters | San Mateo, California | New York, New York |
| Ownership | Private, venture-backed | Private |
| Funding | Raised $135M in July 2026, from Peak XV, Elefund, Opera Tech Ventures and others | Raised $450M in its 2021 Series D, from Insight Partners, Accel, Point72 and others |
| Key leader | Yoshi Yokokawa | Naureen Hassan |
| Scale | Raised $150M in January 2026 and $135M in July 2026 | 3.1 million to 10 million trades a day, depending on the page |
Fintech Index Scores Compared
We rate every company on eight criteria from 0 to 100, four tied to what buyers in its sector need and four shared by every company, and the rating is their average. Alpaca scores 77 and DriveWealth scores 73.
Criterion Scores Out of 100
Key Differences Between Alpaca and DriveWealth
Assets
Alpaca offers 11,000+ US equities, options, T-bills, corporate bonds, German stocks, and 35+ crypto coins. DriveWealth focuses on US stocks and ETFs.
Licences
Alpaca clears and holds assets itself and added UK and EU entities through WealthKernel in 2026. DriveWealth has held a Bank of Lithuania licence since October 2024.
Record
Alpaca's BrokerCheck shows a $400,000 SEC penalty in 2024 and a $300,000 FINRA fine in 2026.
Pros and Cons
Alpaca
Pros
- Self-clearing, so it holds and clears assets itself
- Public documentation and a free sandbox
- Wide asset range, including options and crypto
- UK, EU, and India entities added in 2026
Cons
- Partner pricing set by sales
- Two regulatory fines on BrokerCheck
- Business terms need close review
DriveWealth
Pros
- Fractional orders from $0.01 to eight decimal places
- EU licence through Lithuania
- Production in as little as 90 days
- Large consumer app clients
Cons
- No published prices
- Nothing for advisers
- Trade-volume figures differ across its pages
Who Each Is Best For
Alpaca
A fintech or broker that wants to offer US and global investing through APIs on a self-clearing US broker-dealer.
DriveWealth
A bank or app, especially outside the US, that wants to add US stock and ETF investing through one API.
Alternatives to Alpaca and DriveWealth
These companies, all reviewed and rated on The Fintech Index, cover some of the same ground as Alpaca and DriveWealth.
Other Card Issuing and Processing Companies
| Company | Score | Best for | Comparisons |
|---|---|---|---|
| Upvest | 76 | European banks and fintechs that want investing in their app | Upvest vs Alpaca Upvest vs DriveWealth |
| Apex Fintech Solutions | 76 | Brokers that want clearing and custody across many asset classes | None yet |
| SnapTrade | 79 | Apps that want brokerage data without becoming a broker | SnapTrade vs Alpaca |
| Atomic Invest | 73 | US brands that want investing in their app within weeks | Atomic Invest vs DriveWealth |
Frequently Asked Questions
Is Alpaca self-clearing?
Yes. Alpaca Securities LLC clears and holds assets itself.
Do they post prices?
Neither posts partner pricing.
Sources
- The Fintech Index analysis of Alpaca and DriveWealth, conducted November 2026 (As of November 10, 2026)
- Alpaca homepage: https://alpaca.markets/ (As of November 10, 2026)
- Alpaca about: https://alpaca.markets/about-us (As of November 10, 2026)
- Alpaca Broker API: https://alpaca.markets/broker (As of November 10, 2026)
- Alpaca Broker API Exhibit B: Other Fees, revised September 17, 2026: https://files.alpaca.markets/disclosures/library/BrokerAPIExhibitB.pdf (As of November 10, 2026)
- Alpaca docs: integration setup for Broker API: https://docs.alpaca.markets/us/docs/integration-setup-with-alpaca (As of November 10, 2026)
- Alpaca docs: IRA accounts overview: https://docs.alpaca.markets/us/docs/ira-accounts-overview (As of November 10, 2026)
- DriveWealth homepage: https://www.drivewealth.com/ (As of November 10, 2026)
- DriveWealth who we are: https://www.drivewealth.com/company/who-we-are/ (As of November 10, 2026)
- DriveWealth full service brokerage: https://www.drivewealth.com/solutions/full-service-brokerage/ (As of November 10, 2026)
- DriveWealth embedded investing: https://www.drivewealth.com/solutions/embedded-investing/ (As of November 10, 2026)
- DriveWealth execution services: https://www.drivewealth.com/solutions/execution-services/ (As of November 10, 2026)
- DriveWealth partner services: https://www.drivewealth.com/technology/partner-services/ (As of November 10, 2026)