> For the complete documentation index, see [llms.txt](https://support.backpack.exchange/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://support.backpack.exchange/backpack-securities/faqs.md).

# FAQs

This page collects the short, frequently-asked questions. Many of them have a dedicated article with more detail - those are linked inline. For an overview of the product, start with the [**Backpack Securities**](/backpack-securities.md) introduction at the top of this section.

***

**Getting started**

<details>

<summary><strong>Where do I find Backpack Securities?</strong></summary>

You'll find it on the Backpack website (backpack.exchange) in your browser, or in the **Stocks** section after logging into your account on the Backpack mobile app.\
Stocks and ETFs are available to eligible customers wherever Backpack Securities is offered. If you can't see it, check that your region is supported — Backpack Securities isn't available in the United States, the United Kingdom, the United Arab Emirates, or Japan, and isn't offered on Backpack EU. See Eligibility & Access for the full picture.

</details>

<details>

<summary><strong>Do I need to do anything before my first trade?</strong></summary>

Just two things. Your Backpack account needs to be verified (the same KYC you've already completed for crypto — there's no extra stocks check), and you'll accept a one-time agreement the first time you place a stock order. On the order form the button reads **Enable Trading** until you've acknowledged it, then becomes **Preview**. See [Eligibility & Access.](/backpack-securities/eligibility-and-access.md)

</details>

<details>

<summary><strong>Is there a minimum amount to start?</strong></summary>

Yes. During **regular U.S. market hours**, you can trade fractional shares down to **0.01 of a share** (in 0.01-share steps). Eligible securities also support fractional share trading during **weekends and U.S. market holidays**.

During **overnight, pre-market, and after-hours sessions**, the minimum order size is **1 whole share**. Every order must be worth at least **$1**.

See [Stock Trading Hours & Fees](/backpack-securities/stock-trading-hours-and-fees.md) for details.

</details>

***

**What you can trade**

<details>

<summary><strong>What stocks and ETFs can I trade?</strong></summary>

A broad range of U.S.-listed stocks and ETFs — major companies across the market, plus ETFs spanning equity indices, commodity products (such as gold and oil), and regional market benchmarks. Coverage is U.S.-listed only (other markets, such as Hong Kong listings, aren't supported) and keeps expanding over time. The home page lets you browse by category, see the most active stocks by volume, and filter between individual stocks and ETFs. See [Researching Stocks](/backpack-securities/researching-stocks.md).

</details>

<details>

<summary><strong>Are these real stocks, or synthetic exposure?</strong></summary>

**Stocks and ETFs:** These are real U.S.-listed securities, not synthetic price-exposure products. When a trade fills, the shares are held for you as **security entitlements**, with the associated ownership rights. For details on custody and the legal structure, see [Real Ownership & Legal Framework](/backpack-securities/real-ownership-and-legal-framework.md).

**Stock Perpetuals:** These are **derivative contracts** that track the price of the underlying stock and do **not** provide ownership of the underlying shares.

</details>

***

**How trading works**

<details>

<summary><strong>Why don't I see an order book?</strong></summary>

During **overnight, pre-market, regular, and after-hours sessions**, stock trading is quote-based. You request a price, Backpack returns a live quote, and you decide whether to accept it.

During the **weekend trading session**, eligible stocks trade through Backpack's **Weekend Order Book**. When the overnight session reopens, trading routes back to U.S. exchanges until the next weekend session begins.

For more details, see [Weekend Stock Trading](/backpack-securities/weekend-stock-trading.md).

</details>

<details>

<summary><strong>Why did the price refresh on its own?</strong></summary>

Quotes are valid for only a few seconds. When one expires while you're reviewing the order form, Backpack automatically requests a fresh quote, and the new price replaces the old one. This keeps the price you accept current with the market.

</details>

<details>

<summary><strong>Can I set a stop-loss or take-profit on a stock order?</strong></summary>

* **Stocks:** Stop-loss and take-profit orders are not currently supported.
* **Stock Perpetuals:** Stop-loss and take-profit features are available, as with crypto futures. For more details, see[ Futures](/exchange/trading/futures.md).

</details>

<details>

<summary><strong>Can I use trading bots, copy trading, or the API with stocks?</strong></summary>

* **Stocks:** API trading is supported, but trading bots are not currently available.
* **Stock Perpetuals:** Both API trading and trading bots are supported.
* For details on API trading, see [API Documentation](https://docs.backpack.exchange/).

</details>

***

**Quotes & order results**

<details>

<summary><strong>What does "No quote available" mean?</strong></summary>

The broker didn't return a price within a few seconds. The most common reasons are that the market is closed, the stock has very low liquidity, or there was a brief momentary issue. You can simply retry.

</details>

<details>

<summary><strong>I clicked Buy and the trade failed — what happened?</strong></summary>

A few things can cause this: the price moved past your quote between confirming and filling, the order couldn't be filled within the timeout window and was cancelled, or funds were moved out of your account before settlement so there wasn't enough left to complete the trade. You can re-quote and try again. See [Trading Stocks](/backpack-securities/trading-stocks-and-stock-perpetuals.md).

</details>

<details>

<summary><strong>My trade has been pending for a while.</strong></summary>

Most trades fill within seconds. If a trade has been pending noticeably longer, it's either filling slowly or has timed out. If it doesn't resolve, you can re-quote and place the order again.

</details>

***

**Trading hours**

<details>

<summary><strong>Can I trade fractional shares?</strong></summary>

Yes. Fractional shares are available during **regular trading hours (9:30am–4:00pm ET, Monday–Friday)**. Some eligible securities also support fractional share trading during **weekends and U.S. market holidays**.

During **overnight, pre-market, and after-hours sessions**, orders must be placed in whole shares.

See [Stock Trading Hours & Fees](/backpack-securities/stock-trading-hours-and-fees.md) for details.

</details>

<details>

<summary><strong>What's the "overnight" session — I thought stocks didn't trade after 8pm?</strong></summary>

There's an overnight trading window from 8:00pm to 4:00am ET (Sunday night through Friday morning). It's whole-shares-only and pricing is a little wider than during regular hours, but it does run. The pulse indicator on the Backpack Securities page shows when it's active. See [Trading Hours & Fees.](/backpack-securities/stock-trading-hours-and-fees.md)

</details>

<details>

<summary><strong>Why does pricing look wider overnight or in pre-market?</strong></summary>

There's less liquidity outside regular hours, so quotes are naturally wider — especially overnight. During regular hours, pricing is typically tightest.

</details>

***

**Funding & fees**

<details>

<summary><strong>Is there a fee?</strong></summary>

**Stocks:** Backpack currently charges no separate commission or platform fee on stock trading — the price you see in the quote is the price you trade at.

**Stock Perpetuals:** Standard trading fees apply, as with crypto futures. For details, see [Futures Fees](/exchange/trading/futures/fees.md).

> Fees and related policies are subject to change. See [Trading Hours & Fees.](/backpack-securities/stock-trading-hours-and-fees.md)

</details>

<details>

<summary><strong>Can I use my stocks as collateral for other positions?</strong></summary>

Yes. **Eligible stock holdings can be used as collateral** for perpetual futures and other borrowing positions.

For eligible stocks and their applicable collateral discounts, see [Market Info.](https://backpack.exchange/market-info/collateral)

</details>

<details>

<summary><strong>Can my stocks be liquidated, or affect my crypto and perp positions?</strong></summary>

Eligible stocks can be used as **collateral** for perpetual futures and other borrowing positions. If a stock is being used as collateral, changes in its collateral value can affect your account's margin and liquidation risk.

Stocks purchased directly are not themselves leveraged positions. However, if they are used as collateral, they may affect the risk of positions they support.

For eligible stocks and their applicable collateral discounts, see [Market Info.](https://backpack.exchange/market-info/collateral)

</details>

<details>

<summary><strong>Can I lend out my stocks to earn yield?</strong></summary>

No. Only USD and supported crypto can be lent through Backpack's lending pool — stock balances can't be lent out.

</details>

***

**Holdings, dividends & corporate actions**

<details>

<summary><strong>Where's my dividend?</strong></summary>

Dividend data is shown on the stock detail page for information today. Cash dividend payouts are still being worked on. See [Your Holdings, Dividends & Corporate Actions.](/backpack-securities/your-holdings-dividends-and-corporate-actions.md)

</details>

<details>

<summary><strong>A stock I own had a 2:1 split, but my balance didn't change. Why?</strong></summary>

Split and corporate-action details are shown on the stock page for information today, but they aren't yet reflected in your balances. Reflecting splits and corporate actions in your balance is still being worked on.

</details>

<details>

<summary><strong>Can I move my stock to an external wallet or another platform?</strong></summary>

* Eligible tokenized securities can be withdrawn to an external **Solana wallet**. If you're withdrawing to an external exchange or other platform, carefully verify that the destination supports the asset and **confirm the token contract address before transferring**.
* **ACATS transfers** to other brokerages are still being worked on and are not currently available.

</details>

<details>

<summary><strong>What happens if a company I hold is delisted?</strong></summary>

Corporate actions like delistings are handled through the underlying brokerage infrastructure. If a stock becomes unavailable to trade, you may only be able to close (sell) the position, and any action you need to take will be communicated to you. How some corporate actions are reflected in your balance is part of what's still being worked on.

</details>

***

**Taxes**

<details>

<summary><strong>How are my stocks taxed, and do you provide tax documents?</strong></summary>

You're responsible for any taxes that apply to your own trading activity, based on your jurisdiction. Backpack doesn't currently provide tax statements, cost-basis, or profit-and-loss reports for stocks. We recommend keeping your own records and consulting a qualified tax adviser. This isn't tax advice.

</details>

***

Still have a question? To understand how your stock ownership works legally — including security entitlements, custody, and the regulated brokers behind Backpack Securities — see [Real Ownership & Legal Framework.](/backpack-securities/real-ownership-and-legal-framework.md)


---

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