Traderpal is described as a simple and easy-to-use app designed to democratize access to financial markets for Spanish-speaking individuals.
With Traderpal, users can “invest in thousands of US stocks, and ETFs and start building a diversified investment portfolio to help them achieve their financial goals.”
Lester Pereira founded Traderpal in response “to a need he observed for an app.”
The app is designed “to offer a range of features and tools that are tailored to Spanish-speaking individuals and their unique needs and preferences.”
This includes language support “in Spanish and a range of educational resources that will help users learn about investing and finance.”
Beyond democratizing access to US stock markets for everyone, Traderpal’s mission is “to serve as an educational tool that helps teach its users how to achieve their financial goals.”
Traderpal’s Key Features are as follows:
- Access to thousands of US stocks and ETFs
- The ability for International users to create accounts and invest without the need to have local US bank accounts.
- Timely US stock and ETF tickers
- Real-time news
As noted in the update, Traderpal has “formed a partnership with Alpaca via their Broker API solution to provide investors with a seamless investing experience, utilizing Alpaca’s suite of brokerage, custody, and post-trade solutions.”
They chose Alpaca because they “believed they had the same mentality of moving agilely and providing a quality service to users.”
In addition, Alpaca has the ability “to adjust according to partners’ needs and care about their internal growth.”
As covered, Alpaca is “a developer-first embedded financial technologies platform that’s raised over $100m in funding.”
Alpaca reportedly “offers crypto and stock trading, real-time market data, and end-to-end brokerage infrastructure through modern APIs.”
Alpaca says that it is “backed by top investors in the industry globally, including Portage Ventures, Spark Capital, Social Leverage, Tribe Capital, Horizons Ventures, Unbound, Eldridge, Positive Sum, Elefund, and Y Combinator.”
Alpaca and Traderpal are “not affiliated and neither are responsible for the liabilities of the other.”
Securities brokerage services are “provided by Alpaca Securities LLC (“Alpaca Securities”), member FINRA/SIPC, a wholly-owned subsidiary of AlpacaDB, Inc. Technology and services are offered by AlpacaDB, Inc.”
Cryptocurrency services are “made available by Alpaca Crypto LLC (“Alpaca Crypto”), a FinCEN registered money services business (NMLS # 2160858), and a wholly-owned subsidiary of AlpacaDB, Inc.” Alpaca Crypto is “not a member of SIPC or FINRA.”
As clarified in the announcement, cryptocurrencies are “not stocks and your cryptocurrency investments are not protected by either FDIC or SIPC.”