specification: API Commons Plans
specificationVersion: '0.1'
schema: https://raw.githubusercontent.com/api-evangelist/interface-research/main/schema/api-commons.yml#/$defs/Plans
provider: Alpaca
providerId: alpaca-markets
created: '2026-07-11'
modified: '2026-07-11'
reconciled: false
tags:
- Market Data
- Trading
- Brokerage
- Stocks
- Crypto
- Plans
description: >-
  Alpaca separates trading from market data in its pricing. Trading itself is
  commission-free for US stocks, ETFs, and options, and a full paper-trading
  sandbox is free forever. Market data is where the paid tiers live: a free
  Basic plan (real-time IEX equities over WebSocket, 15-minute delayed SIP over
  REST, indicative options, crypto, 200 requests/minute) and Algo Trader Plus
  at $99/month (full real-time SIP across all US exchanges, real-time OPRA
  options, unlimited WebSocket symbols, up to 10,000 requests/minute). Business
  and enterprise market-data agreements are negotiated. The Broker API is a
  B2B product with commercial pricing agreed with Alpaca. Numbers reflect
  Alpaca's published pricing at review time and are not otherwise reconciled.
notes: >-
  Options and crypto trading may carry per-contract or spread-based fees; verify
  current fee schedules and market-data tiers on alpaca.markets/data and the
  Alpaca pricing/disclosures pages during reconciliation.
sources:
- https://alpaca.markets/data
- https://docs.alpaca.markets/docs/about-market-data-api
- https://docs.alpaca.markets/docs/market-data-faq
plans:
- id: alpaca-paper-trading
  name: Paper Trading (Sandbox)
  type: free
  description: >-
    A free, funded-with-virtual-cash paper account at paper-api.alpaca.markets
    that mirrors the live Trading API exactly. No cost, no live money; ideal for
    building and testing strategies.
  entries:
  - label: Paper Trading
    name: paper_trading
    type: usage
    metric: orders
    limit: -1
    timeFrame: month
    geo: us
    unit: 1
    price: free
    userMultiplied: false
  elements:
  - name: Full Trading API
  - name: Simulated Fills
  - name: Real-Time Account WebSocket
- id: alpaca-commission-free-trading
  name: Commission-Free Trading (Live)
  type: free
  description: >-
    Commission-free trading of US stocks and ETFs on a funded live account.
    Fractional shares supported. Options and crypto trading may carry
    per-contract or spread fees per Alpaca's fee schedule.
  entries:
  - label: Stock and ETF Commissions
    name: equity_commission
    type: usage
    metric: trades
    limit: -1
    timeFrame: month
    geo: us
    unit: 1
    price: $0 commission (regulatory/exchange fees may apply)
    userMultiplied: false
  elements:
  - name: US Stocks and ETFs
  - name: Fractional Shares
  - name: Options Trading
  - name: Crypto Trading
- id: alpaca-market-data-basic
  name: Market Data - Basic
  type: free
  description: >-
    Free market data tier, the default for all accounts. Real-time IEX equities
    over WebSocket, 15-minute delayed full-market data over REST, indicative
    options quotes, and crypto. Capped at 200 API requests/minute and limited
    WebSocket symbol subscriptions.
  entries:
  - label: API Requests
    name: basic_requests
    type: usage
    metric: requests
    limit: 200
    timeFrame: minute
    geo: global
    unit: 1
    price: free
    userMultiplied: false
  elements:
  - name: Real-Time IEX Equities (WebSocket)
  - name: 15-Minute Delayed SIP (REST)
  - name: Indicative Options
  - name: Crypto Data
  - name: 7+ Years History
- id: alpaca-market-data-algo-trader-plus
  name: Market Data - Algo Trader Plus
  type: paid
  description: >-
    Paid market-data tier for algo traders and quants. Full real-time SIP data
    across all US exchanges, real-time OPRA options data, unlimited WebSocket
    symbol subscriptions, and up to 10,000 API requests/minute.
  entries:
  - label: Monthly Subscription
    name: algo_trader_plus
    type: flat
    metric: subscription
    limit: 1
    timeFrame: month
    geo: global
    unit: 1
    price: $99 per month
    userMultiplied: false
  - label: API Requests
    name: atp_requests
    type: usage
    metric: requests
    limit: 10000
    timeFrame: minute
    geo: global
    unit: 1
    price: included
    userMultiplied: false
  elements:
  - name: Full Real-Time SIP (All US Exchanges)
  - name: Real-Time OPRA Options
  - name: Unlimited WebSocket Symbols
  - name: 7+ Years History
- id: alpaca-broker-api
  name: Broker API (Business)
  type: enterprise
  description: >-
    B2B product for businesses building brokerage and trading services for their
    own end users. Commercial terms (per-account, revenue-share, or platform
    fees) are negotiated with Alpaca. A free sandbox at
    broker-api.sandbox.alpaca.markets is available for development.
  entries:
  - label: Broker Agreement
    name: broker_agreement
    type: flat
    metric: contract
    limit: -1
    timeFrame: year
    geo: global
    unit: 1
    price: contact sales
    userMultiplied: false
  elements:
  - name: End-User Account Onboarding
  - name: Funding and Journaling
  - name: Trading on Behalf of Users
  - name: Sandbox Environment
maintainers:
- FN: Kin Lane
  email: kin@apievangelist.com