Snaptrade vs Plaid: How They Differ and How Ziggma Uses Both

Cover image Plaid vs Snaptrade article


Both Snaptrade and Plaid are safe, OAuth-based account aggregators. Both use read-only connections. Neither can place trades or move money on your behalf. The key difference is focus: Plaid covers 12,000+ financial institutions across banking, payments, and investing. Snaptrade focuses exclusively on investment and brokerage accounts — and leads the US market in OAuth coverage for those accounts specifically. Ziggma uses both, depending on which broker you're connecting.

Feature Plaid Snaptrade
Primary focus Banking, payments, and investments Investment and brokerage accounts only
Institution coverage 12,000+ banks, brokers, and platforms 20+ major US brokerages
OAuth support Where broker supports it Leads US market for investment accounts
Read-only access ✓ In Ziggma's context
SOC 2 Type II ✓ ✓
ISO 27001 / 27701 ✓ Not listed
Encryption AES-256 at rest and in transit AWS KMS + TLS in transit
Penetration testing ✓ + bug bounty program
Banking account access ✓ —
Brokerage account access ✓ ✓
Credential storage (if no OAuth) Encrypted by Plaid Encrypted via AWS KMS
Used by Ziggma ✓ ✓

Note: Snaptrade also supports trading execution for apps that require it. Ziggma uses Snaptrade in read-only mode only — Ziggma cannot place trades or move money regardless of which aggregator is used.

Two Different Tools, Built for Different Jobs

Plaid

The broad-coverage financial data network

Plaid connects apps to over 12,000 financial institutions — including banks, credit unions, brokerages, crypto platforms, and retirement accounts. More than 8,000 apps use Plaid, including Venmo, Cash App, and Robinhood.

Plaid's investment coverage is strong, but investment data is one product line within a much broader platform that also covers banking, identity verification, income verification, and payments. Plaid holds SOC 2 Type II, ISO 27001, and ISO 27701 certifications and uses AES-256 encryption at rest and in transit.

Snaptrade

The investment-first aggregator

Snaptrade focuses exclusively on retail brokerage and investment accounts. That narrow focus has made it the US market leader in OAuth coverage for investment accounts specifically — with OAuth connections across Fidelity, Charles Schwab, Robinhood, Vanguard, Webull, Interactive Brokers, and more.

Snaptrade is SOC 2 Type II compliant, uses AWS KMS encryption and TLS in transit, and runs a third-party penetration testing programme with a bug bounty for responsible disclosure. It does not connect to bank accounts or support payments — it is built entirely around investment data.

How Ziggma Uses Plaid and Snaptrade

Ziggma's approach

Ziggma uses both Plaid and Snaptrade to maximize brokerage coverage for self-directed investors. The provider used for a given connection depends on which broker you're linking — Ziggma selects the aggregator best suited to that specific institution.

In both cases, the connection is read-only. Ziggma can see your holdings, balances, and transaction history — nothing more. Ziggma cannot place trades, move money, or change account settings regardless of which aggregator handles the connection. Your brokerage login credentials are never seen or stored by Ziggma. For a deeper look at how credentials and data are handled, see is Plaid safe for linking accounts and how Ziggma keeps your data secure.

Read-only, always

Neither Plaid nor Snaptrade gives Ziggma write access. No trades. No transfers. No account changes.

Credentials never shared

OAuth means your broker login goes to your broker — not to Plaid, Snaptrade, or Ziggma.

Revocable at any time

Disconnect any linked account from within Ziggma at any time. Revoking access doesn't affect your broker login.

Which Brokers Does Each Connect?

Plaid — key brokers supported

  • Fidelity
  • Charles Schwab
  • Vanguard
  • Robinhood
  • E*TRADE
  • TD Ameritrade
  • Coinbase
  • + 12,000 institutions total

Plaid's investment coverage is broad but sits within a larger financial data network. Not all institutions support OAuth — coverage type varies by broker.

Snaptrade — key brokers supported

  • Fidelity
  • Charles Schwab
  • Vanguard
  • Robinhood
  • Webull
  • Interactive Brokers
  • Alpaca
  • + additional US brokerages

Snaptrade's coverage is narrower overall but specifically optimised for investment accounts, with leading OAuth coverage for US brokerages.

What is the main difference between Snaptrade and Plaid?
Plaid is a broad financial data network connecting 12,000+ institutions across banking, payments, and investing. Snaptrade focuses exclusively on investment and brokerage accounts. For investors, both can connect the same major brokerages — the difference is that Snaptrade leads the US market in OAuth coverage specifically for investment accounts, while Plaid has wider coverage across financial services overall. See how financial account aggregators work for a broader comparison.
Is Snaptrade safe to use?
Yes. Snaptrade is SOC 2 Type II compliant, uses AWS KMS encryption and TLS for data in transit, and runs a third-party penetration testing programme with a bug bounty for responsible disclosure. Where brokers support it, Snaptrade connects via OAuth — meaning your login credentials go directly to your broker, not to Snaptrade.
Is Plaid safe to use for investment accounts?
Yes. Plaid is SOC 2 Type II, ISO 27001, and ISO 27701 certified and uses AES-256 encryption at rest and in transit. For the full breakdown of how Plaid's OAuth connection works and what it can and cannot access, see is Plaid safe for linking accounts.
Does Ziggma use Plaid or Snaptrade?
Ziggma uses both. The aggregator used for your connection depends on which broker you are linking. In both cases the connection is read-only — Ziggma receives your holdings, balances, and transaction history, and cannot place trades or move money. Your brokerage login is never seen or stored by Ziggma. Learn more about how Ziggma keeps your data secure.
Can either Plaid or Snaptrade move money out of my account?
Not through Ziggma. Ziggma uses both aggregators in read-only mode. Plaid's investment connection is always read-only. Snaptrade supports trading execution as a capability for other apps — but Ziggma does not use that capability. Ziggma can never place trades, transfer funds, or change account settings.
Which brokers does Snaptrade support?
Snaptrade supports major US brokerages including Fidelity, Charles Schwab, Vanguard, Robinhood, Webull, Interactive Brokers, and Alpaca, among others. Snaptrade's focus on investment accounts means it has deep OAuth integrations with these brokers specifically. You can see the full list of supported brokers for account aggregation in Ziggma.
Which brokers does Plaid support?
Plaid supports investment accounts at Fidelity, Charles Schwab, Vanguard, Robinhood, E*TRADE, TD Ameritrade, Coinbase, and thousands of other institutions. Plaid's total coverage spans 12,000+ banks, brokers, and financial platforms. OAuth support varies by institution — some brokers issue a secure token via OAuth while others use encrypted credential storage.
How do I know which aggregator Ziggma is using for my account?
When you click "Link Account" inside Ziggma and select your broker, Ziggma routes the connection through the aggregator that provides the best coverage for that institution. Both paths use the same security principles — read-only, OAuth where available, encrypted credentials where not. You can create a free Ziggma account and link your first account to see which provider handles your broker's connection.
Can I revoke access granted through Snaptrade or Plaid?
Yes. You can disconnect any linked account at any time from within Ziggma. You can also revoke access directly through Plaid Portal or Snaptrade's own account management interface. Revoking access through any of these routes does not affect your brokerage login or password. For step-by-step instructions on linking or unlinking accounts, see how to link a brokerage account to Ziggma.
What data does Ziggma receive through these connections?
Ziggma receives your account holdings, balances, and transaction history — nothing more. This data powers the Portfolio Checkup, diversification scoring, portfolio impact analysis, dividend tracking, and risk metrics. Ziggma does not sell this data or share it with third parties for advertising or marketing purposes.

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