specification: FinOps Framework
specificationVersion: '1.0'
schema: https://www.finops.org/framework/
provider: Alpaca
providerId: alpaca
created: '2026-05-08'
# Provenance stamped 2026-08-11: this artifact was written by the API Evangelist
# bulk sweep dated 2026-05-08, not harvested from the provider. See roadmap#35.
method: generated
modified: '2026-05-08'
reconciled: true
tags:
  - Fintech
  - Trading
  - Brokerage
  - FinOps
  - FOCUS
description: >-
  FinOps view of Alpaca billing. Trading is commission-free; revenue comes from PFOR, margin,
  Algo Trader Plus subscription ($99/month), and Broker API contracts. Customers should treat
  market-data subscriptions and Broker API minimums as the primary cost lines.
sources:
  - https://alpaca.markets/data
  - https://focus.finops.org/focus-specification/v1-3/
alignedWith:
  framework: FinOps Foundation Framework
  frameworkUrl: https://www.finops.org/framework/
  dataSpec: FOCUS
  dataSpecVersion: '1.3'
  dataSpecUrl: https://focus.finops.org/focus-specification/v1-3/
publisherName: Alpaca Securities LLC / Alpaca Crypto LLC
serviceCategory: Fintech
billingModel:
  pricingCategory: Subscription + Custom Contract
  billingFrequency: Monthly
  billingCurrency: USD
  chargeCategories:
    - Subscription
    - Usage
    - Adjustment
focusColumns:
  ServiceName: Alpaca Market Data and Trading
  ServiceCategory: Fintech
  ProviderName: Alpaca
  PublisherName: Alpaca Securities LLC
  InvoiceIssuerName: Alpaca
  BillingCurrency: USD
  ChargeCategory: Subscription
meters:
  - name: market_data_subscription
    description: Algo Trader Plus market data subscription.
    unit: month
    aggregation: sum
    dimensions:
      - account
  - name: broker_api_contract
    description: Broker API minimums and per-account fees per partner contract.
    unit: contract
    aggregation: sum
    dimensions:
      - partner
principles:
  - name: Visibility
    description: Pull subscription invoices and broker partner monthly billing into FinOps store.
  - name: Allocation
    description: Allocate market data subscription to consuming trading desk or product line.
  - name: Optimization
    description: Right-size between Free and Algo Trader Plus by audit of actual rpm and symbol counts.
  - name: Accountability
    description: Assign a billing owner for the brokerage relationship and review at renewal.
maintainers:
  - FN: Kin Lane
    email: kin@apievangelist.com