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Alpaca vs Interactive Brokers
The same facts side by side. Swap a broker from the menu under its logo; the best value in each row is marked.
- Alpaca leads
- 1
- Interactive Brokers leads
- 5
- Level
- 4
Of 10 scored facts, Alpaca leads on 1, Interactive Brokers on 5, and 4 are level. Countries and the offer are not scored.
Sync · Trade soon
Your tradingabout $100 a monthabout $1,194 a yearAssignment, platform and inactivity fees estimated.
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Sync-only with QuantWheel
Your tradingabout $13 a monthabout $159 a yearOptions regulatory fee estimated.
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Up to three brokers, with a year of your trading at each
Head-to-head
The best value in each row is marked; rows where every broker matches carry no mark.| Fact | Alpaca | Interactive Brokers |
|---|---|---|
| Fee per contract | $0 per contractBest | $0.65 per contract |
| Alpaca, Partner, index and professional rates differ | Interactive Brokers, $1 minimum; additional fees | |
| Exercise and assignment | Not published | $0 |
| Approval | Spreads | NakedBest |
| Alpaca, Up to defined-risk spreads | Interactive Brokers, Up to naked short options | |
| 0DTE | Yes | Yes |
| Index options (SPX) | Yes | Yes |
| Options on futures | No | YesBest |
| Spreads in an IRA | No | YesBest |
| Portfolio margin | Not published | Yes |
| Margin rate | 6.25% | 5.38%Best |
| Platforms | Web, API | Web, Desktop, Mobile, APIBest |
| Paper trading | Yes | Yes |
| 24/7 support | Not published | No |
| Countries | US and worldwide; support confirms if your country is supported | Over 200 countries and territories (IBKR group) |
| QuantWheel | Sync · Trade soon | Sync-only |
| Alpaca, Reads the account; placing orders from QuantWheel is coming soon | Interactive Brokers, Reads the account; you place the orders | |
| Offer |
Facts from each broker's fee schedule and options agreement, checked 8 October 2026. Best marks the lowest cost or the widest allowance in a row.
The two brokers
One paragraph each.Alpaca$0 per contract · exercise fee not published · spreads
Alpaca opens options accounts for residents of 4 of the 243 countries this directory covers, among them the United States, the United Kingdom and Portugal. It charges $0 per contract (Partner, index and professional rates differ). It does not publish its exercise and assignment fees. It approves up to defined-risk spreads. It trades on Web, API. QuantWheel syncs positions and trades from the account and suggests; placing orders from QuantWheel is coming soon, so today you place them at the broker.
Interactive Brokers$0.65 per contract · $0 exercise and assignment · naked
Interactive Brokers opens options accounts for residents of 151 of the 243 countries this directory covers, among them the United States, Taiwan and Brazil. It charges $0.65 per contract ($1 minimum; additional fees). Exercise and assignment cost $0. It approves up to naked short options. It trades on Web, Desktop, Mobile, API. QuantWheel syncs positions and trades from the account and suggests; you place the orders at the broker.
What each costs for the way you trade
A year of fees from each broker's published prices, checked 7 and 8 October 2026.
Alpaca
about $0.07 a trade, about 10% of your premium. Assignment, platform and inactivity fees estimated.
about $100 a monthabout $1,194 a year
Interactive Brokers
about $1.47 a trade, about 1.4% of your premium. Options regulatory fee estimated.
about $13 a monthabout $159 a year
Interactive Brokers does not publish every fee this strategy needs, so no broker is named lowest here.
A year from each broker's published fees. A fee a broker leaves out is estimated at the middle of what the brokers that publish it charge, and that total says about. Your broker statement can differ, and brokers change fees.
Who each suits
Written from the facts on this page. Each feature needs the broker's approval and account rules.Alpaca suits a trader who trades through its API or web platform. Its highest level is spreads, and every account is a margin account. Interactive Brokers suits a trader who wants naked options, portfolio margin, options on futures or a desktop platform. Both offer an API, paper trading and index options, and both open accounts outside the US. Alpaca support confirms whether your country is supported. With both, QuantWheel syncs your positions and you place the orders at the broker.
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Alpaca vs Interactive Brokers