Where your assets sit, and who is accountable for them
Dolphin Trade Pro is the technology layer. Your securities account is carried by Alpaca Securities LLC, a broker-dealer registered with the SEC and a member of FINRA and SIPC.
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A fully disclosed brokerage relationship
Dolphin Trade Pro
Alpaca Securities LLC
Your own account
The broker-dealer's registrations
SEC-registered broker-dealer
FINRA member firm
SIPC member
DTCC member
OCC member
FICC member
Alpaca completed a series of infrastructure upgrades between 2023 and 2026 that moved it from a clearing-introducing broker to a self-clearing broker-dealer, which is what allows the platform to route US equity and options order flow into a single regulated clearing relationship.
Two layers of protection
SIPC — up to $500,000
Customer accounts carried by a SIPC member firm are protected up to $500,000 per account, including up to $250,000 for cash claims. The protection applies automatically once the account is opened with Alpaca Securities LLC.
Excess SIPC — up to $75,000,000
Alpaca additionally carries Excess SIPC commercial insurance placed with Lloyds of London, providing up to $75,000,000 for securities and $75,000,000 for cash per client.
Responsibilities, split clearly
| Function | Dolphin Trade Pro | Alpaca Securities LLC |
|---|---|---|
| Account opening & KYC | Collects your details in the app and passes them through the Broker API. | Opens the account, performs identity verification, sanctions screening and suitability review, and makes the final decision. |
| Order routing & execution | Turns your instructions and profile targets into order requests. | Accepts, routes, executes and confirms the orders. |
| Clearing & settlement | None. | Clears and settles trades as a self-clearing broker-dealer and DTCC member. |
| Custody of cash and securities | None. No access to client funds or positions and no ability to move them. | Holds cash and securities in your account. |
| Statements, confirmations, tax forms | Displays them inside the app for convenience. | Issues the official documents. |
| Complaints and disputes | Receives them at our compliance desk and routes them to the right team. | Handles brokerage complaints under FINRA rules. |
| Fees | Charges the platform management fee. | Charges brokerage-related fees and regulatory charges, disclosed in your account documents. |
Our FinCEN money services business registration
The Financial Crimes Enforcement Network (FinCEN), part of the US Department of the Treasury, regulates Money Services Businesses (MSBs) nationwide. Companies that engage in money transmission, digital asset exchange, foreign currency transactions or prepaid account management are required to register with FinCEN.
Registered entity: Dolphin Trade Pro INC
Registration number: 31000312649075
How to verify: open the FinCEN MSB Query Page, search by the registration number or the business name, and pull the registration record yourself.
Risk disclosure summary
Investing in securities involves risk, including the possible loss of the principal you invest: values can go down as well as up, and past performance does not guarantee future results. Fractional share orders, options strategies and concentrated positions can amplify both gains and losses.
Dolphin Trade Pro provides software and research tools. It does not provide individualised investment advice, does not act as a fiduciary for your account and does not execute orders. Nothing on this website is an offer or solicitation to buy or sell any security.
The full risk disclosure, terms of use, privacy policy and marketing disclosure are set out on our legal page. Regulatory questions can be sent to compliance@dolphintradepro.com.
Ready to see how the platform works?
Securities accounts are opened with, and carried by, Alpaca Securities LLC, member FINRA/SIPC. Dolphin Trade Pro provides the technology, the signal engine and the portfolio tools.