SnapTrade vs Alpaca: Features, Coverage and Pricing Compared (2026)
Updated November 10, 2026 · Reviewed by Benjamin Margolis
SnapTrade and Alpaca both give developers access to investing, at different layers. SnapTrade connects apps to users' existing accounts at 40+ brokerages. Alpaca is a broker-dealer that opens, holds, and trades accounts itself.
Our analysts compared the two on November 10, 2026, using each company's own product, pricing, and company pages and our full reviews of SnapTrade and Alpaca.
Choose SnapTrade if
- users already have brokerage accounts
- you want portfolio data or trading through existing brokers
- you do not want custody
Choose Alpaca if
- you want to open accounts for users
- you want to be the platform of record
- you want options and crypto under one broker
SnapTrade scores 79 and Alpaca scores 77 in our ratings. SnapTrade connects to brokers. Alpaca is the broker.
Key Features Compared
SnapTrade vs Alpaca at a Glance, November 2026
| Feature |  SnapTrade | Alpaca |
|---|---|---|
| Ratings | ||
| Fintech Index score | 79 / 100Higher score | 77 / 100 |
| Overview | ||
| What it is | Canadian brokerage connectivity company that lets apps link retail brokerage accounts for portfolio data and, where supported, trading | Alpaca offers software connections, known as APIs, for running automated trading strategies and adding stock, options, and crypto trading to apps |
| Who it suits | Developers building portfolio tracking, holdings checks, and embedded trading | Fintechs, brokers, and algorithmic traders; partners in 40+ countries |
| Main products | API connections to users' existing brokerage accounts for balances, holdings, orders, and trading where supported | Broker API for KYC, account opening, funding, statements, and trading; Trading API with paper trading; tokenized stocks |
| Where it operates | 40+ brokerages | Partners in 40+ countries, with UK and EU entities from WealthKernel and India through Zincmoney |
| Products and features | ||
| Holds client assets | No custody; accounts stay at the user's broker | Self-clearing US broker-dealer |
| Markets offered | Stocks, ETFs, crypto, and options where brokers support them | 11,000+ US equities, options, T-bills, corporate bonds, German stocks, and 35+ crypto coins |
| Pricing | ||
| How pricing works | Product and usage based, through sales or signup | Partner pricing set by sales; public fee exhibit for correspondents |
| Published prices | Self-serve signup | Partner pricing by quote |
| Technology and compliance | ||
| Regulation and protection | Not a broker; no custody | 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 |
| App and platform | Normalized security identifiers and webhooks | Public documentation and a free sandbox |
| Integrations and partners | More than 40 brokerages and 450 million investor accounts | Trading in 15+ local currencies with 24/5 sessions |
| Onboarding and support | Standard API terms; custom reviews for large brokers | Free dashboard and sandbox, public API docs, community forum, status page, and Slack; partner support levels set per agreement |
| Company | ||
| Founded | Not published | 2015 |
| Headquarters | Canada | San Mateo, California |
| Ownership | Private company | Private, venture-backed |
| Funding | Not published | Raised $135M in July 2026, from Peak XV, Elefund, Opera Tech Ventures and others |
| Key leader | Brendan Wood | Yoshi Yokokawa |
| Scale | Connection success rates marketed above 95% | Raised $150M in January 2026 and $135M in July 2026 |
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. SnapTrade scores 79 and Alpaca scores 77.
Criterion Scores Out of 100
Key Differences Between SnapTrade and Alpaca
Model
SnapTrade holds nothing; accounts stay at the user's broker. Alpaca clears and holds assets itself.
Coverage
SnapTrade reaches 40+ brokerages and 450 million investor accounts. Alpaca serves partners in 40+ countries.
Access
SnapTrade offers self-serve signup. Alpaca offers public documentation and a free sandbox.
Pros and Cons
SnapTrade
Pros
- Connects to existing brokers without custody
- 40+ brokerages
- Trading where brokers allow it
- Self-serve signup
Cons
- Cannot make you the broker of record
- Depends on each broker's support
- Lighter public pricing detail
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
Who Each Is Best For
SnapTrade
A fintech, portfolio app, or trading tool that wants brokerage account data and optional trading through users’ existing brokers instead of becoming a broker-dealer.
Alpaca
A fintech or broker that wants to offer US and global investing through APIs on a self-clearing US broker-dealer.
Alternatives to SnapTrade and Alpaca
These companies, all reviewed and rated on The Fintech Index, cover some of the same ground as SnapTrade and Alpaca.
Other Card Issuing and Processing Companies
| Company | Score | Best for | Comparisons |
|---|---|---|---|
| DriveWealth | 73 | Non-US apps that want to add US investing | Alpaca vs DriveWealth |
| Upvest | 76 | European banks and fintechs that want investing in their app | Upvest vs Alpaca |
| Apex Fintech Solutions | 76 | Brokers that want clearing and custody across many asset classes | None yet |
| Atomic Invest | 73 | US brands that want investing in their app within weeks | None yet |
Frequently Asked Questions
Is SnapTrade a broker?
No.
Can SnapTrade place trades?
Yes, where the user's broker supports it.
Does Alpaca hold assets?
Yes, as a self-clearing broker-dealer.
Sources
- The Fintech Index analysis of SnapTrade and Alpaca, conducted November 2026 (As of November 10, 2026)
- SnapTrade home page: https://snaptrade.com/ (As of November 10, 2026)
- SnapTrade, about: https://snaptrade.com/about-us (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)