They have a well-hidden FAQ section: https://support.alpaca.markets/hc/en-us/articles/360011047171-Business-Model https://support.alpaca.markets/hc/en-us/articl

They have a well-hidden FAQ section: https://support.alpaca.markets/hc/en-us/articles/360011047171-Business-Model https://support.alpaca.markets/hc/en-us/articles/36001104717... They list several ways in which they "will" make money. My (possibly unkind) reading is that currently they're burning investor money.