Exness vs Alpaca Comparison & Reviews

Feature
Exness
Alpaca
Overview
Established broker with global reach, focused on forex and CFD trading
Commission-free stock and crypto trading platform focused on algorithmic traders
Regulation
Regulated by FCA, CySEC, FSCA, and more, offering high levels of security
Regulated by FINRA, SEC for U.S. residents, focusing on compliance for U.S. markets
Markets Available
Forex, CFDs on commodities, indices, cryptocurrencies, stocks
U.S. stocks, ETFs, cryptocurrencies
Trading Platform
MetaTrader 4 and 5, WebTrader, mobile apps
Proprietary API-based trading platform, web and mobile app
API Access
Limited API support, mostly within the MetaTrader ecosystem
Full API access for algorithmic trading, REST API, and WebSocket for real-time updates
Commission Fees
Commission-free for standard accounts, small commissions for specific accounts
Zero-commission for stocks and ETFs, limited fees on crypto trades
Spreads
Variable spreads starting from 0.3 pips on certain accounts
No spreads on stock trades, only markups on crypto spreads
Leverage
Offers high leverage up to 1:2000 (may vary by region and account type)
Leverage not available for U.S. stocks, 2x margin on certain accounts
Minimum Deposit
Typically starts at $1 for Standard accounts, higher for professional accounts
No minimum deposit required
Order Types
Market, limit, stop orders, pending orders, trailing stops
Market, limit, stop, bracket orders, advanced conditional orders
Demo Account
Yes, free demo account available for testing
Yes, free paper trading account for algorithmic testing and manual practice
Education Resources
Basic articles, webinars, video tutorials for forex trading
Extensive developer documentation, API guides, limited market education resources
Customer Support
24/7 multilingual support, live chat, phone, and email
Support available via email, limited live support, focused on developer assistance
Mobile App
Yes, full-featured mobile trading app available
Yes, with trading and portfolio management features, especially API access via mobile
Deposit Methods
Bank transfer, credit/debit cards, e-wallets, crypto deposits
Bank transfer, ACH for U.S. residents, no crypto deposit option
Withdrawal Methods
Bank transfer, credit/debit cards, e-wallets, crypto withdrawals
Bank transfer, ACH, usually free for U.S. accounts, crypto withdrawals not supported
Algo Trading Support
Limited, mostly via EA scripts in MetaTrader
Extensive, supports algorithmic trading via REST API and broker integrations
Security Features
Two-factor authentication (2FA), segregated client funds, regulatory audits
Two-factor authentication (2FA), industry-standard encryption, U.S. regulatory compliance
Target Audience
Primarily forex and CFD traders, beginners to professional traders
Primarily algorithmic traders, developers, investors interested in U.S. markets
Unique Selling Points
High leverage options, wide range of forex pairs, multilingual support
Commission-free, API-first platform, ideal for algo traders and developers
Social Trading
Offers a social trading platform where users can copy trades of experienced traders
Does not provide a social trading feature; focused on individual and algorithmic trading
Account Types
Offers Standard, Standard Plus, Raw Spread, Pro, and Zero accounts
No specific account types; all accounts offer similar features for trading and API access
Trading Signals
Provides trading signals through MetaTrader
No built-in trading signals, but users can implement custom signals through API
Trade Execution Speed
Ultra-fast execution with average speeds around 0.01 seconds, prioritizing liquidity
High-speed execution, but not specifically optimized for forex-speed demands
Scalping Allowed
Yes, scalping is permitted on all accounts
Yes, scalping allowed, especially encouraged for algorithmic setups
Hedging Capability
Hedging is allowed across all account types
Supports hedging but mostly relevant to multi-account strategies via API
Account Base Currencies
Supports multiple base currencies including USD, EUR, GBP, and cryptocurrencies
USD only
Platform Customization
Limited customization available in MetaTrader, more flexible on WebTrader
Highly customizable for algorithmic setups via API, allows full control over trade executions
Order Routing
Utilizes smart order routing to ensure best possible execution prices for forex
Smart order routing for U.S. stocks to maximize execution efficiency
Trading Incentives
Occasionally provides bonuses, promotions, and rebates for new and existing users
No bonuses or promotions, focus is on providing a no-fee, developer-friendly environment
Data Feeds
Offers basic price and volume data for forex and CFDs
Offers real-time U.S. stock data and crypto data feeds, compatible with major financial APIs
Supported Countries
Available in many countries globally but with restrictions in the U.S.
Primarily available to U.S. residents and select international markets
Advanced Charting Tools
Provides advanced charting tools within MetaTrader and WebTrader platforms
Basic charting available, encourages external charting integrations through API
Trading Community
Large global user community, forums, and support groups
Developer-focused community, forums, GitHub resources, and technical support
Margin Requirements
Offers flexible margin requirements based on account type and leverage settings
Standard margin requirements for stocks, up to 2x leverage for margin-eligible U.S. accounts
Fractional Shares
Not available, trades full lot sizes for forex and CFDs
Yes, fractional shares available for U.S. stocks
Market Data Cost
Provides free basic market data
Free real-time data for U.S. stocks, some advanced data subscriptions may incur fees
Financial Reports Access
Access to economic calendars, news feeds, basic market analysis reports
No specific financial reports; users may import external data for analysis via API
API Language Support
Limited to MQL4/MQL5 scripts within MetaTrader ecosystem
Supports REST API with SDKs in Python, JavaScript, and other major languages
Bot Integration
Supports trading bots through MetaTrader's Expert Advisors
Full bot integration with custom bot development through REST API
Trading Restrictions
Some restrictions on crypto CFDs, varies by region
No restrictions on stocks, limited crypto assets available
Customer Onboarding
Easy onboarding with ID verification, supports multiple languages
Seamless onboarding, fully digital, verification primarily for U.S. residents
Risk Management Tools
Includes negative balance protection, risk alerts, margin calls
Provides conditional orders, stop-loss and take-profit options, primarily geared toward API configurations
Liquidity Providers
Partners with multiple Tier-1 liquidity providers for forex and CFD trading
Connected to major U.S. stock exchanges and market makers for direct stock liquidity
Asset Segregation
Client funds held in segregated accounts, aligned with regulatory standards
Ensures client funds are segregated, follows FINRA/SEC guidelines for investor protection
Market Access Hours
24/5 forex and CFD trading, crypto trading available 24/7
Stock trading limited to U.S. market hours, crypto available 24/7
Account Funding Time
Instant funding for most methods, bank transfers may take 1-3 days
ACH transfers usually processed within 1-3 business days, instant funding options available
Withdrawal Processing Time
Fast withdrawal processing, often completed within 24 hours for e-wallets
ACH withdrawals take 1-3 business days, no instant withdrawal options
Currency Pairs Available
Offers over 100 forex pairs for trading, including major, minor, and exotic pairs
Limited to U.S. dollar-denominated trading, with no forex or international currency pairs
Chart Indicators
Provides over 50 built-in indicators on MetaTrader, with custom indicator support
Basic charting options, encourages integration with third-party tools for detailed analysis
Algo-Trading Support Framework
Uses MetaTrader's Expert Advisors (EAs) for automated strategies, limited API for external use
Fully API-driven platform with extensive support for algorithmic trading and SDKs
Payment Integration
Accepts PayPal, Neteller, Skrill, cryptocurrency payments
Limited to traditional payment methods like ACH and bank transfers
Access to Real-Time News
Access to real-time economic news and updates within the MetaTrader platform
Limited news access; recommends external integrations for news via API
Trading Platform Stability
High server stability for MetaTrader, optimized for high-frequency forex trading
Robust API platform, optimized for stable, continuous algorithmic trading
Mobile Trading Notifications
Offers customizable push notifications for price alerts, order execution, account updates
Supports notifications for order execution and price levels via app and API
Backtesting Capability
MetaTrader allows historical data backtesting for forex and CFD strategies
Full backtesting capability through API, historical data available for stocks
Data Retention
Historical data storage available for forex pairs, commodities, and indices
Retains historical data for U.S. stocks, facilitates detailed backtesting through API
Order Modification Flexibility
Provides flexible order modifications, including partial close and price adjustments on MetaTrader
High flexibility in modifying and canceling orders via API, suited for algorithmic adjustments
Corporate Actions Handling
No corporate action involvement in CFD trading; all trades are derivatives
Handles corporate actions like dividends and stock splits, automatically adjusts for client holdings
Portfolio Analytics
Provides basic portfolio analytics on MetaTrader, with more advanced tools in WebTrader
Offers portfolio performance metrics and data through API, encourages custom analytics integration
Integration with TradingView
Limited integration, primarily through WebTrader for charting
Encourages TradingView integration for enhanced charting via API and data feeds
Advanced Order Types
Supports trailing stops, take-profit and stop-loss orders, OCO orders
Supports advanced order types like bracket orders, conditional orders for risk management
User Data Privacy
Strong data privacy standards, complies with GDPR and international regulations
Complies with U.S. data privacy laws, offers developer-focused security and privacy
Developer Community Support
Limited developer resources, mainly MetaTrader community and forums
Extensive developer resources, API documentation, GitHub, community support for API troubleshooting
Brokerage Integration
Standalone broker with in-house liquidity and platforms
Partnered with various brokers and financial institutions for enhanced market access and liquidity
New User Onboarding Assistance
Offers basic tutorials, guides, and demo accounts to familiarize users with forex trading
Full API documentation and example scripts, focuses on developers and algorithmic trading guidance
See also  Exness vs XTB Comparison & Reviews

Exness offers extensive forex and CFD trading with flexible account options and high leverage, ideal for global traders. Alpaca, a commission-free U.S.-focused platform, provides extensive API support for algorithmic traders in stocks and crypto.