Comparison · 2026 edition
Alpaca vs Saxo: wealth infrastructure compared 2026.
Alpaca and Saxo side by side in the Wealth and Brokerage Infrastructure Index 2026: scores, evidence, published facts and awards.
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Alpaca and Saxo side by side in the Wealth and Brokerage Infrastructure Index 2026: scores, evidence, published facts and awards.
In the Wealth and Brokerage Infrastructure Index, Alpaca scores higher overall: 4.2 out of 5 (83 out of 100) against 3.5 (69), ranking 2 and 3 of 11. Alpaca also scores higher in every segment.
Overall and segment scores out of 100, and the score out of 5.
| Score | Alpaca | Saxo |
|---|---|---|
| Score out of 5 | 4.2 | 3.5 |
| Score out of 100 | 83 | 69 |
| Overall rank | 2 of 11 | 3 of 11 |
| For fintech apps and neobanks (out of 100) | 80, rank 2 | 69, rank 3 |
| For banks and wealth managers (out of 100) | 88, rank 1 | 67, rank 4 |
| For brokers expanding abroad (out of 100) | 82, rank 2 | 70, rank 3 |
| Type | Brokerage API and self-clearing broker | Multi-asset broker and white-label platform |
Each score with the evidence behind it.
| Criterion | Alpaca | Saxo |
|---|---|---|
| Asset range | 5/5 Fractional shares, options, bonds, crypto and cash products published. | 5/5 Shares, bonds, funds, ETFs, options and futures published. |
| Published pricing | 0/5 Not published. | 0/5 Not published. |
| Regulatory standing | 5/5 Regulators and registration numbers published for the US and the Bahamas. | 4/5 FCA reference number published for the UK entity; other licences not on the pages read. |
| Market reach | 5/5 Partners in 40+ countries published. | 5/5 50+ markets published. |
| Integration and launch | 4/5 API, test environment and KYC service published; no stated launch time. | 4/5 OpenAPI and white-label platforms published; no sandbox or launch time on the pages read. |
| Asset protection and security | 5/5 SIPC limit, self-clearing custody and ISO 27001 with SOC 2 Type II published. | 1/5 Custody stated with only potential segregation; no scheme or certificate published. |
Each criterion is scored 0 to 5 against the best published offer in the Wealth and Brokerage Infrastructure Index. 0 means not offered or not published. How it is scored
What each provider publishes on its own pages, read on 26 October 2026.
| Fact | Alpaca | Saxo |
|---|---|---|
| Assets | "Embed fractional stocks, options, fixed income, crypto, high-yield cash"; US Treasury bills and corporate bonds; "Hundreds of German stocks and ETFs available today". | "71,000+ instruments": "23,000+ stocks", "5,200+ government and corporate bonds", "18,300+ funds", "7,400+ ETFs", options, FX, futures and CFDs. |
| Regulatory standing | Alpaca Clearing "member FINRA / SIPC"; Alpaca Crypto LLC "a FinCEN registered money services business (NMLS # 2160858)"; AlpacaX Crypto regulated by The Securities Commission of The Bahamas, "registration number 208648 B". | UK entity: "Saxo Capital Markets UK Ltd" is "authorised and regulated by the Financial Conduct Authority, Firm Reference Number 551422". |
| Reach | "Supporting 200+ partners in 40+ countries." | Stocks "from New York, Hong Kong, London, and 50+ other markets"; options "from 20+ exchanges". |
| Integration | Broker API with event streaming, "KYC as a service" for non-registered technology partners, and a paper trading API for testing. | "Go to market fast with off-the-shelf solutions or tailored experiences"; "Build bespoke and fully integrated user experiences using Saxo's OpenAPI"; pre-launch project management team. |
| Protection | "SIPC protection up to $500,000 per customer (cash sub-limits apply)"; clears and holds assets "as members of DTCC, FICC, and OCC"; "ISO 27001:2022 certified, SOC 2 Type II controls". | "Receive custody services through Saxo's broker and custodian network with the potential for segregation of assets." |
| Pricing | Broker API pricing not published; the pricing page returned "not found". | "Capital markets solutions with competitive pricing"; no figures published. |
| Date read | 26 October 2026 | 26 October 2026 |
Not published or not stated by Alpaca: pricing, published pricing and integration and launch.
Not published or not stated by Saxo: pricing, published pricing and regulatory standing.
Facts read on 26 October 2026 from: alpaca.markets/broker, alpaca.markets; and home.saxo/institutional-and-partners/…, home.saxo/institutional-and-partners.
Awards follow from the published scores and cannot be bought.
From each provider's strongest criteria and published terms.
Fintech apps wanting US shares, options and crypto through one API.
Banks and wealth managers wanting the widest instrument list.
Tell us what you need and where you operate.