Alpaca (US Equities)

Anyone has experience?

Context - been peeking at Alpaca for some time now, but only recently they seem to be offering a beta testing for Canadians for 100k+ accounts only.

I currently trade 100% with IB and paying >1k/month in commissions alone on equity trades. Being at their TIER2 in terms of volume. Considering moving some high share volume trades over to a different broker.

Few particular questions:

1. Any noticeable problems with executions?
2. Are you happy with your market orders executions?
3. Are you able to participate in opening/closing options?
4. Did you see any cases when price when thru your limit order but you got no fill?
5. Do you have any limits on how many orders you can send / cancel?
6. Any Canadians to share experience with their Beta service?

Val

 

How does equity commission (all-in) of other brokers compare to the one at IB?

 

I don't have access to other brokers who offer services to Canadians and have APIs.

Alpaca is now in Beta in Canada, they have API + 0 commission on equity trades. As far as I know, there is literally no other choice.

I could form LLC in US to work around the issue, but that comes with its' own complications and I am not ready to seriously consider that just yet.

Val

 

Is there opening and closing auction for option?

 

Sorry, meant "auction". Ability to participate in opening / closing cross.

 

how can you participate in option opening auction on IB tws?

 

"Are you able to participate in opening/closing options auctions?"

All questions are re equities only