Who are Alpaca and Apex?

Alpaca Securities and Apex Clearing are our clearing partners responsible for executing trades for Composer users and act as the custodians of the funds you deposit. 

Both Alpaca and Apex are members of SIPC, meaning securities in your account are protected up to $500,000 (details and more information can be found at sipc.org).

Which accounts and features are available with each partner?

The type of account you open and the features you want to use determine which brokerage partner you'll work with:

• Individual taxable accounts are available with both Alpaca and Apex.
• Retirement accounts (Traditional and Roth IRAs) are only available through Apex. If you want to use Composer for tax-advantaged retirement investing, you'll do so with an Apex account.
• Options trading is only available in Alpaca Individual accounts. If you plan to trade options, you'll need to open an Individual account with Alpaca.

Brokerage applications are also processed through Alpaca and Apex and are subject to their guidelines. 

Not sure which broker holds your account?

If you are unsure who your account is cleared through, please contact our team at help@composer.trade.