Broker Disclosures

  1. Required Disclosures

    The following disclosures are required to be displayed and must be reviewed before using our trading services. Please click on each document to review the full terms.

    Use and Risk

    Important information about the use of our services and associated risks.

    📄 View Use and Risk Disclosure

    Terms and Conditions

    Complete terms and conditions governing your use of Alpaca Securities services.

    📄 View Terms and Conditions

    Privacy Notice

    How we collect, use, and protect your personal information.

    📄 View Privacy Notice

    Payment for Order Flow (PFOF)

    Disclosure regarding payment for order flow arrangements.

    📄 View PFOF Disclosure

    Margin Disclosure Statement

    Important information about margin trading risks and requirements.

    📄 View Margin Disclosure Statement

    Business Continuity Plan Summary

    Information about our business continuity planning and disaster recovery procedures.

    📄 View Business Continuity Plan Summary

    Form CRS

    Customer Relationship Summary providing key information about our services and fees.

    📄 View Form CRS

    Alpaca Customer Agreement

    Complete customer account and margin agreement governing your relationship with Alpaca Securities.

    📄 View Alpaca Customer Agreement

  2. Fractional Shares Disclaimer

    Important Notice About Fractional Share Trading

    Fractional share trading presents unique risks and considerations that differ from trading whole shares. When you trade fractional shares, you may experience different market dynamics, liquidity constraints, and pricing mechanisms.

    Key considerations include:

    • Limited liquidity during certain market hours
    • Different pricing and execution mechanisms
    • Potential restrictions on transferability
    • Unique corporate action processing

    See Alpaca Customer Agreement for full terms and conditions regarding fractional share trading.

    Please ensure you understand these risks before engaging in fractional share trading.

  3. Regulatory Information

    Alpaca Securities LLC is a member of FINRA and SIPC. All securities are held by Alpaca Securities LLC, a registered broker-dealer and member of FINRA/SIPC.

    Important Regulatory Notices

    • FINRA BrokerCheck: Research Alpaca Securities LLC at brokercheck.finra.org
    • SIPC Protection: Securities in your account are protected up to $500,000 by SIPC
    • Investment Advisory Services: Provided by W2B, Inc., a registered investment advisor