How to use Broker API Comparator
Compare Alpaca, IBKR, Tradier, Schwab, and Robinhood on auth, rate limits, order types, market data, MCP support, and fees so you don't wire integration code against the wrong broker.
What It Does
Use the calculator with intent
Compare Alpaca, IBKR, Tradier, Schwab, and Robinhood on auth, rate limits, order types, market data, MCP support, and fees so you don't wire integration code against the wrong broker.
Engineers building automated trading systems who learned the hard way that broker integration cost varies 10x and the OAuth-only broker isn't optional in production.
Interpreting Results
Auth model is the bottleneck — OAuth-only brokers (Schwab) require an explicit user-consent flow. Rate limits gate strategy frequency. MCP support matters if you're wiring an LLM agent rather than a deterministic strategy.
Input Steps
Field by field
- 1
Filter
Filter brokers by required asset coverage (options, futures, crypto) and toggle MCP required or free-tier required as needed.
- 2
Read outputs
Read the rate-limit table and the full feature matrix (auth method, order types, MCP status, fee strings).
- 3
Read outputs
Read the fee strings. Zero-commission brokers flag PFOF as a note; the strings are displayed as published, not modeled.
- 4
Read outputs
Read the auth method and security posture. Some brokers require OAuth; others use API key.
- 5
Test
Test in paper-trading mode before committing real capital. Sandbox latency is best-case; production tail latency varies with deployment region and broker traffic.
Common Scenarios
Use realistic starting points
LLM-agent execution
MCP required
yes
Alpaca, Tradier, and IBKR (community MCP) all pass the filter. Alpaca's MCP server is more mature; IBKR's broader asset coverage may be the tiebreaker for multi-asset agents.
Multi-asset prop
Required
options + futures + intl
Frequency
daily
IBKR is the only retail broker that covers the full universe; Schwab covers options/futures but no intl access via API.
Try These Tools
Run the numbers next
Finance MCP Directory
Security-graded catalog of finance MCP servers — Alpaca, Polygon, Databento, IBKR, Tradier, Tiingo, NautilusTrader. Scope, auth, idempotency, transport.
Data-Vendor TCO Calculator
Compute annual cost of market data across Databento, Polygon, Alpaca, Tiingo, FMP, and Alpha Vantage for your exact universe, bar resolution, and real-time needs.
Execution Simulator
Estimate execution cost in closed form — square-root permanent impact, linear temporary impact, half-spread, and a latency-drift band. See the slippage a naive backtest hides.
FAQ
Questions people ask next
The short answers readers usually want after the first pass.
Related Content
Keep the topic connected
MCP (Model Context Protocol)
Model Context Protocol: Anthropic's open standard for letting LLMs discover and call tools — the interface, why it matters, and finance MCP server checks.
Maker-Taker
Maker-taker fee model: makers get a rebate, takers pay. Why the model exists, what it incentivizes, and how to size up real net cost.