We’re Moving Investments to Seccl – What’s Changing and Why

We’re transitioning our General investment account provider from Alpaca to Seccl, an FCA-authorised provider.

Moving your account gives you:

Stronger protection: Your assets are held with an FCA-regulated custodian under CASS safeguarding rules. Cash may be protected by the FSCS up to £120,000 if Seccl were to fail.
A new investment universe: We’re updating what you can invest in. As part of this move, we’re transitioning from individual stocks to ETFs and investment funds, which offer broader market exposure.
Future investment features: This upgrade lays the groundwork for Stocks & shares ISAs and additional investment options inside Emma.
Industry-standard custody: Your investments will sit on a modern, regulated custody platform designed for UK investment products.
Updated fees: As part of this upgrade, our General investment account fees are changing. The fee you pay will now be based on the value of the investments in your account, and will depend on your subscription level. Learn more

To make this move as smooth and cost-efficient as possible, **Emma is waiving all FX fees. **

Investing involves risk and the value of your investments can go down as well as up. Waiving FX fees does not remove market, currency or investment risk.

What’s Changing

US single-stock trading will close in Emma.
A new UK platform (Seccl) will host your investments in GBP.
From the 2nd of February , buying US shares will no longer be available.
You can continue selling US holdings until the 27th of February.
After that date, any remaining holdings will be sold automatically, and proceeds returned to your Emma Wallet.

Why We’re Doing This

To simplify Emma’s investing experience for UK customers.
To give customers access to diversified long-term funds and ETFs rather than individual high-volatility US stocks
To reduce FX costs, reporting friction and currency risk

ETFs and funds are long-term investments and their value can fall as well as rise. You may get back less than you invest.

Fees and FX During Migration

0% FX fee on USD→GBP conversions
No exit fees for moving away from Alpaca.
After migration, standard platform fees apply on Seccl and are shown before you trade.

Whether you choose to sell your positions yourself, or if Emma sells any remaining holdings on your behalf as part of the migration, you may realise a capital gain or loss. Any gains could be subject to Capital Gains Tax depending on your personal circumstances.

Corporate Actions and Dividends

A dividend will only be included or paid to you if the stock’s ex-dividend date happens before the migration cut-off date (27th of February).

Stock splits announced before 27th of February will be processed if possible; otherwise, affected holdings will be sold and proceeds returned as cash.

Tax treatment depends on your individual circumstances and may change in future. Emma does not provide tax advice. If you are unsure about how this applies to you, please seek independent tax advice.

Your Data and Privacy

We only share the minimum information required to complete this migration. Your historic Alpaca statements will remain available for download from Alpaca, and Alpaca will continue to retain any information they are legally required to keep under their own privacy policy and regulatory obligations.

Once your account is migrated, any new investment activity will be governed by Emma’s partnership with Seccl, and your information will continue to be protected under Emma’s Privacy Policy.

If You Experience Delays or Market Volatility

If there’s a market outage or unusual volatility, we may extend deadlines to protect customers. We’ll communicate any changes promptly in-app and via email.

Need Assistance or Extra Support?

If you’re in a vulnerable situation or need help completing the steps:

Contact us via in-app chat
We can walk you through the process step by step.
We can also offer information in alternative formats if required

Emma does not provide financial advice. If you are unsure about investing, please seek independent financial advice.

Updated on: 26/01/2026

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