> 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/exchange/backpack-securities/how-to-buy-and-sell-stocks-on-web.md).

# How to Buy & Sell Stocks on Web

Buying and selling stocks on Backpack uses a simple, quote-based flow. Choose a stock or ETF, review a live quote, and confirm your trade.

There is no order book, no slippage settings, and no maker/taker mechanics.

### Before You Start

Before placing your first trade, make sure:

* Your Backpack account is verified (KYC)
* You're located in a supported region
* You have available USD for purchases

There is no additional stocks-specific verification process.

For eligibility requirements and account access, see [**Eligibility & Access**.](/exchange/backpack-securities/eligibility-and-access.md)

***

### Step-by-Step Guide

#### Step 1: Open a Stock or ETF

From the Stocks home page, find the stock or ETF you want to trade by:

* Searching by company name or ticker
* Browsing market index cards
* Viewing movers lists
* Using Explore

Select any ticker to open its detail page.

<figure><img src="https://1790800155-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F3kiM6CAFBZoTCJcZ8X7k%2Fuploads%2Fdu0XyJr0S0o3yzkYWMNX%2Fimage.png?alt=media&#x26;token=de9bc648-b249-4042-822b-5d4d7329c0d2" alt=""><figcaption></figcaption></figure>

***

#### Step 2: Choose Buy or Sell

Use the **Buy / Sell** toggle at the top of the order form.

Enter the number of shares you want to trade.

The order form displays your available balance:

| Order Type | Available Balance                             |
| ---------- | --------------------------------------------- |
| Buy        | Available USD balance                         |
| Sell       | Available shares of the selected stock or ETF |

**Quick Amount Shortcuts**

On the Buy side, you can choose:

* 25%
* 50%
* 75%
* Max

These shortcuts size your order based on your available USD balance.

**Fractional Shares**

Fractional shares are available only during regular U.S. market hours:

**9:30 AM–4:00 PM ET, Monday–Friday**

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

If fractional shares aren't available, you'll see:

> Fractional shares are only available during market hours. To trade now, buy in whole shares.

For the full trading schedule, see [**Trading Hours & Fees**.](/exchange/backpack-securities/trading-hours-and-fees.md)

<figure><img src="https://1790800155-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F3kiM6CAFBZoTCJcZ8X7k%2Fuploads%2FwzUtg8SFy5r2JWurZEHJ%2Fimage.png?alt=media&#x26;token=bba6b118-8615-4682-a17c-7ca9d83a8443" alt=""><figcaption></figcaption></figure>

***

#### Step 3:[ Enable Trading ](/exchange/backpack-securities/eligibility-and-access.md#enable-trading)(First Trade Only)

Before placing your first stock trade, you'll need to accept a one-time User Agreement.

The first time you trade:

1. Select **Enable Trading**
2. Review the agreement
3. Check the confirmation box
4. Select **Acknowledge**

After completing this step, future orders go directly to **Preview**.

***

#### Step 4: Review the Quote

Select **Preview** to request a live quote.

<div align="left"><figure><img src="https://1790800155-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F3kiM6CAFBZoTCJcZ8X7k%2Fuploads%2FEkpLwrQyAIWvpU9GLQtJ%2Fimage.png?alt=media&#x26;token=e335a715-aa9c-4d89-9b6a-98b5911fbc6b" alt=""><figcaption></figcaption></figure></div>

Backpack retrieves the quote when you click Preview—not while you're entering a quantity.

You'll briefly see:

> Routing for best execution...

Once the quote is available, you'll see an order summary including:

* Estimated Price
* Subtotal
* Total

<figure><img src="https://1790800155-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F3kiM6CAFBZoTCJcZ8X7k%2Fuploads%2FyHW4teiVXWp1ohb1W6kl%2Fimage.png?alt=media&#x26;token=0f40791b-bafd-4326-9383-a174db910c88" alt=""><figcaption></figcaption></figure>

{% hint style="info" %}
**Quotes are short-lived and refresh on their own.** A quote is only valid for a few seconds. If it expires while you're reviewing, Backpack automatically requests a fresh one and the new price replaces the old.
{% endhint %}

***

#### Step 5: Place the Order

**Confirm the trade.**

One of the following outcomes will appear:

| Status           | Description                                                     |
| ---------------- | --------------------------------------------------------------- |
| Trade Successful | The order filled successfully                                   |
| Order Pending    | The order is still being processed                              |
| Order Failed     | The quote expired or market conditions changed before execution |

**Common messages you might see**

| Message                                                                                        | What it means                                                                                                                                | What to do                                                            |
| ---------------------------------------------------------------------------------------------- | -------------------------------------------------------------------------------------------------------------------------------------------- | --------------------------------------------------------------------- |
| *Fractional shares are only available during market hours. To trade now, buy in whole shares.* | You entered a fraction outside regular hours.                                                                                                | Round to a whole number, or wait for regular hours.                   |
| *Minimum quantity is {N}* / *Maximum quantity is {N}*                                          | Your quantity is below or above the allowed size for this order.                                                                             | Adjust the quantity to within the stated range.                       |
| *Quantity must be in increments of {N}*                                                        | The quantity has to step in a specific size.                                                                                                 | Enter a value that fits the increment.                                |
| **No quote available**                                                                         | The broker didn't return a price within a few seconds — usually because the market is closed, the stock is thinly traded, or a brief hiccup. | Wait a moment and request the quote again.                            |
| **Order pending** for a while                                                                  | Most orders fill in seconds; a longer pending order is filling slowly or has timed out.                                                      | If it doesn't resolve, request a new quote and place the order again. |
| **Order failed**                                                                               | The price moved past your quote, the order timed out, or funds were moved before settlement.                                                 | Request a fresh quote and try again.                                  |

***

### Important Notes

**No Margin Purchases**

* Stock purchases are funded using available USD.
* Backpack does not automatically borrow funds to fund stock purchases.
* If you want to use borrowed USD, borrow it first and then place your order.
* See [**Trading Hours & Fees** f](/exchange/backpack-securities/trading-hours-and-fees.md)or details.

**No Order Book**

* Backpack stock trading is quote-based.
* You review a quoted price and decide whether to accept it.

**No Separate Commission**

* There's no separate commission or platform fee on stock trades — the price you see in the quote is the price you trade at.
* See [**Trading Hours & Fees**](/exchange/backpack-securities/trading-hours-and-fees.md) for details.

**Real Ownership**

* Filled trades represent real ownership held as a security entitlement.
* For more information, see [**Real Ownership & Legal Framework**.](/exchange/backpack-securities/real-ownership-and-legal-framework.md)


---

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