# Start Here Please browse our comprehensive self-service support articles below. If you're in need of direct help please don't hesitate to reach out to our team directly: * For **email support**: * For **live chat support**, use the chat popup your Support Center or on [Backpack Learn](https://learn.backpack.exchange/), or contact support directly through the Backpack mobile app under **settings**. * For **community support** head to our discord at * For **educational resources**, visit [Backpack Learn](https://learn.backpack.exchange/) ### How Backpack communicates with you Legitimate Backpack support emails will only come from the addresses listed below. If you receive a message claiming to be from Backpack from any other address, do not reply or follow its instructions. Forward it to so our team can verify it.
* **Global:** * **European Union:** * **EU general inquiries:** * **Japan:** * **VIP:** #### Received a suspicious email? Don't reply or click any links. Forward the email to and our team can help verify it. ### Official Telegram community channels Connect with Backpack through our official community channels. * **Chinese (CN):** [Join Telegram](https://t.me/BackpackExchangeSupportChinese) * **Spanish (ES):** [Join Telegram](https://t.me/backpackespanol) ### Official Social media channels * **X:** [Follow Backpack on X](https://x.com/Backpack) * **Support**: * **LinkedIn:** [Follow Backpack on LinkedIn](https://www.linkedin.com/company/backpackexchange) {% hint style="info" %} **IMPORTANT:** Only use the official community links listed here and be cautious of accounts or groups impersonating Backpack. Backpack will never ask for your seed phrase, password, or 2FA code, or ask for funds. {% endhint %} # Downloads Download official Backpack apps for Exchange and Wallet across your devices. ## Mobile: Exchange and Wallet [![ios-appstore](https://backpack.app/brands/ios.svg)App Store](https://apps.apple.com/us/app/backpack-wallet-exchange/id6445964121) [![android](https://backpack.app/brands/google.svg)Google Play](https://play.google.com/store/search?q=backpack+wallet+and+exchange\&c=apps\&hl=en_US) ![android-apk](https://backpack.app/brands/android.svg)[Android APK Download ](https://mobile.xnftdata.com/backpack-apk-2.80.0+412.apk) *** ## Extension: Wallet [![chrome](https://backpack.app/brands/chrome.svg)Chrome](https://chromewebstore.google.com/detail/backpack/aflkmfhebedbjioipglgcbcmnbpgliof) [![brave](https://backpack.app/brands/brave.svg)Brave](https://chromewebstore.google.com/detail/backpack/aflkmfhebedbjioipglgcbcmnbpgliof) *** ## 2FA Apps [![ios](https://backpack.app/brands/ios.svg)Google Authenticator (iOS)](https://apps.apple.com/us/app/google-authenticator/id388497605) [![android](https://backpack.app/brands/android.svg)Google Authenticator (Android)](https://play.google.com/store/apps/details?id=com.google.android.apps.authenticator2\&hl=en) # Backpack Securities Backpack Securities lets you buy and sell **real U.S.-listed stocks and ETFs** from the same Backpack account as your crypto — one portfolio, settled in USD, with no separate brokerage login. When a buy fills, the shares simply appear as a balance alongside the rest of your assets. These are genuine securities — not synthetic products, CFDs, perpetuals, or wrappers. The shares are held for you as real **security entitlements**: the same private property rights you'd have holding shares at firms like Schwab, Fidelity, or Robinhood. You'll see each stock by its plain ticker, like `AAPL` or `TSLA`. Trading is **instant and quote-based**: Backpack shows you a live price, you confirm, and your balance updates — no order book, no maker/taker mechanics, no slippage to manage. Stocks and ETFs trade across the U.S. market sessions, Monday to Friday. {% hint style="info" %} Backpack Securities is in **public beta** — open to eligible users and available on the web (mobile is coming). We're still adding features as the product grows. {% endhint %} *** #### Start here * [**Eligibility & Access**](/backpack-securities/eligibility-and-access) — who can use it, supported regions, and the one-time agreement before your first trade. * [**Finding & Researching Stocks** ](/backpack-securities/finding-and-researching-stocks)— browse the home page, search by ticker, and read a stock's detail page: chart, financials, news, and company info. * [**How to Buy & Sell Stocks on Web** ](/backpack-securities/how-to-buy-and-sell-stocks-on-web)— the full trade flow, from picking a ticker to confirming your fill. * [**Trading Hours & Fees** ](/backpack-securities/trading-hours-and-fees)— the session schedule, the market status indicator, fractional-share rules, minimums, and fees. * [**Your Holdings, Dividends & Corporate Actions**](/backpack-securities/your-holdings-dividends-and-corporate-actions) — how positions show in your portfolio, how you exit, and which shareholder features are still being worked on. * [**Real Ownership & Legal Framework** ](/backpack-securities/real-ownership-and-legal-framework)— what you actually own: security entitlements, the regulated brokers behind Backpack Securities, custody, and asset protection. * [**FAQ**](/backpack-securities/faqs) — quick answers to common questions, with links to the full guides. {% hint style="info" %} Backpack Securities is available to eligible users only. It 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 full eligibility details. {% endhint %} # Tokenized Securities ### Overview Backpack Securities combines real securities ownership with on-chain distribution. Investors can hold eligible securities through established brokerage infrastructure, convert them into tokenized securities on Solana, and redeem tokenized securities back into the corresponding security entitlement through Backpack Securities. By connecting traditional brokerage infrastructure and blockchain networks through a seamless, two-way door, Backpack creates a direct pathway between securities ownership and onchain distribution. This gives investors the flexibility to access both traditional securities infrastructure and blockchain-native markets from a single platform. ### Two Ways to Hold Securities Every eligible security on Backpack can be held in one of two forms. #### Traditional Securities on Backpack Real security entitlements governed under New York law (UCC Article 8), supported by established brokerage, clearing, custody, and transfer infrastructure, with real ownership rights including cash dividends, corporate actions, brokerage transfers, and applicable tax treaty benefits. #### Tokenized Securities Issued by Backpack Self-custodied tokenized securities on Solana with 24/7 trading, wallet-to-wallet transfers, DeFi compatibility. ### Moving Between the Two Forms The two forms are connected through a seamless, two-way door. Seamlessly convert traditional securities into tokenized securities and vice versa through Backpack Securities deposits and withdrawals. On/off-ramp securities between traditional brokerages and Solana. > See the [**Conversion Flow**](/backpack-securities/tokenized-securities/conversion-flow) page for how deposits and withdrawals work. ### Dividends and Corporate Actions Dividends and corporate actions are supported across both ownership models. * For securities held through Backpack Securities, cash dividends and corporate actions are processed through traditional brokerage infrastructure. * For tokenized securities, dividend payouts are automatically reinvested into additional tokenized shares, while applicable corporate actions are reflected through proportional token balance adjustments designed to maintain economic equivalence with the underlying security. ### Comparing the Two Ownership Models The table below summarizes how the two forms compare across key dimensions. | Category | Traditional Securities on Backpack | Tokenized Securities Issued by Backpack | | ------------------- | ------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------- | | On/off-ramp | Can be tokenized and withdrawn to Solana as a tokenized security | Can be redeemed 1:1 into the underlying real shares | | Brokerage Transfers | Available via ACATS- and DTCC-compatible brokerage infrastructure | Available after redemption into the corresponding security entitlement | | Dividends | Cash dividends, with applicable tax treaty withholding benefits where available | Dividend payouts are automatically reinvested into additional tokenized shares | | Corporate Actions | Supported through brokerage infrastructure, including stock splits, mergers, and certain spinoffs | Corporate actions are automatically reflected through tokenized share balance adjustments | | Ownership Form | UCC Article 8 security entitlement | Tokenized claim | | Legal Framework | New York law (UCC Article 8) | Claim on SPV holding the underlying assets | | Price Exposure | Direct ownership of the security | Anchored 1:1 via mint and redemption mechanism | | Where It Is Held | Backpack Securities account | Solana wallet | | Custody Model | Traditional brokerage infrastructure | Self-custody | | Accessibility | Backpack Securities brokerage accounts | Self-custody wallets | | Liquidity | Access to real U.S. market liquidity (NYSE & Nasdaq) | Solana DEXs and onchain liquidity | | Trading Hours | 24/5 | 24/7 | | Settlement | Traditional securities settlement infrastructure | Onchain settlement | | Wallet Transferable | No | Yes | | DeFi Compatible | No | Yes | > For more on ownership rights and the legal structure, see [Real Ownership and Legal Framework](https://support.backpack.exchange/exchange/backpack-securities/real-ownership-and-legal-framework). ### How Backpack Tokenized Securities Differ from Typical Tokenized Stocks Most tokenized stocks on the market stop at tracking the price. Tokenized securities issued by Backpack go further: each token is redeemable 1:1 for the real underlying security. | | Tokenized securities issued by Backpack | Typical tokenized stock | | ------------------------------- | ------------------------------------------------------------------------------------------------------ | --------------------------------------------------------------------------- | | What you hold | Token redeemable for a real share of the underlying security through Backpack Securities | Usually a contractual claim that tracks the price | | Dividends and corporate actions | Reflected onchain through rebasing designed to maintain economic equivalence with the underlying share | Varies by issuer; may be reflected through token mechanics or not supported | | Redemption | Redeemable for a real share of the underlying security through Backpack Securities | Often not available; settlement in cash only; fees may apply | | Trading hours | 24/7 on Solana | Varies by venue | | Where it works | Across Solana wallets and DeFi | Often limited to issuer or partner venues | *** *The descriptions provided herein are for informational purposes only. For details, please see the Backpack Securities Terms of Service, available in the* [*User Agreement*](https://support.backpack.exchange/legal/general-legal/user-agreement)*.* # Conversion Flow Seamlessly convert traditional securities into tokenized securities and vice versa through Backpack Securities deposits and withdrawals.
ActionResult
WithdrawalTraditional securities on Backpack are tokenized and withdrawn to Solana in the form of tokenized securities.
DepositConverted into traditional securities holdings.
The process is designed to be as straightforward as depositing or withdrawing a stablecoin between a wallet and an exchange. ### Before You Start To convert between tokenized securities (onchain) and a security entitlement (traditional brokerage), you need: 1. A Backpack Exchange account with completed KYC 2. A Solana wallet > New to Backpack Exchange? See [Create a New Account on Backpack Exchange](https://support.backpack.exchange/exchange/exchange-account/create-a-new-account). ### Withdrawal: Moving Securities Onchain Withdrawing a tokenized security from Backpack Exchange to Solana follows the same flow as a standard Solana withdrawal from Backpack Exchange. An estimated platform fee of approximately $0.50 applies and is paid in the tokenized security being withdrawn. There are no additional fees.

Withdrawing a tokenized security from Backpack Exchange

### Deposit: Converting Back to Traditional Securities Depositing a tokenized security into Backpack Exchange from your Solana wallet converts it back into traditional securities holdings. Backpack does not charge any fees for deposits. However, you may still need to pay the applicable Solana network fee from your wallet.

Depositing a tokenized security into Backpack Exchange

*** *The descriptions provided herein are for informational purposes only. For details, please see the Backpack Securities Terms of Service, available in the* [*User Agreement*](https://support.backpack.exchange/legal/general-legal/user-agreement)*.* # Eligibility & Access Backpack Securities is in **public beta**, available to eligible Backpack users in supported regions. There is no separate stocks account to open or additional verification process to complete. Before your first trade, you'll accept a one-time user agreement. ### Eligibility Requirements To access Backpack Securities, you must meet all of the following requirements: | Requirement | | ---------------------------------------------------------- | | Be located in a supported region | | Have a verified Backpack account | | Accept the one-time user agreement before your first trade | #### Supported Regions 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**. Everywhere else that stocks are permitted, eligible verified users can access it. Backpack Securities also follows Backpack Exchange's overall country availability: if Backpack Exchange doesn't serve your country in the first place, Backpack Securities won't be available to you either. For the countries Backpack Exchange currently serves, see the [**Supported Regions** ](/exchange/exchange-account/identity-verification/supported-regions)page. If Backpack Securities isn't available in your region, the Stocks section won't appear in your account. {% hint style="info" %} It is your responsibility to ensure that your use of Backpack Securities complies with the laws and regulations of your jurisdiction. Availability and eligibility are ultimately governed by the [**Backpack Securities Brokerage Services Terms**.](https://support.backpack.exchange/legal/general-legal/user-agreement) {% endhint %} #### Verification (KYC) Backpack Securities uses the same account verification process as the rest of Backpack. If your Backpack account is already verified, no further verification is required. #### Enable Trading Before placing your first stock order, you'll complete a short one-time agreement. **How it works** 1. Open any stock and choose **Buy** or **Sell**, then enter a quantity. 2. The first time, the order button reads **Enable Trading** instead of **Preview**. Select it to open the **User Agreement**.
3. Read the disclosure, tick the confirmation checkbox, and choose **Acknowledge**.
4. You'll see a confirmation that you've agreed to the terms, and the button changes to **Preview** so you can continue placing your order.
You only do this once. After you've acknowledged the agreement, you go straight to **Preview** on every future order. > For the complete trading flow, see [**How to Buy & Sell Stocks on Web**.](/backpack-securities/how-to-buy-and-sell-stocks-on-web) *** ### Platform Availability Backpack Securities is currently available on: * Backpack Web * Mobile web browsers It is not yet available in the native mobile app. If you're in a supported region with a verified account and don't see Backpack Securities: * Confirm you're signed in to the correct account * Confirm you're not using Backpack EU *** #### Related articles * [Finding & Researching Stocks](/backpack-securities/finding-and-researching-stocks) * [How to Buy & Sell Stocks on Web](/backpack-securities/how-to-buy-and-sell-stocks-on-web) * [Trading Hours & Fees](/backpack-securities/trading-hours-and-fees) * [Real Ownership & Legal Framework](/backpack-securities/real-ownership-and-legal-framework) * [FAQ](/backpack-securities/faqs) # Finding & Researching Stocks Use the Stocks section in Backpack to discover stocks and ETFs, research them, and decide what to trade. You can: * Browse market activity * Search for stocks and ETFs * View charts, financials, and news * Research companies and funds before placing a trade To place an order, see [**How to Buy & Sell Stocks on Web**.](/backpack-securities/how-to-buy-and-sell-stocks-on-web) *** ### Find a Stock The Stocks home page helps you discover stocks and ETFs available on Backpack. #### Market Status At the top of the page, you'll see the current market session. Possible statuses include: | Status | Description | | ------------- | --------------------------------- | | Market Open | Regular U.S. trading hours | | Pre-market | Before regular trading hours | | After-hours | After the regular close | | Overnight | Overnight session | | Market Closed | Weekends and U.S. market holidays | When a session is active, the indicator pulses. Hover over the indicator to view the full session timeline in your local timezone. When markets are closed, a countdown shows when the next session begins.
> Fractional shares are only available during regular market hours. For details, see [Trading Hours & Fees.](/backpack-securities/trading-hours-and-fees) *** #### Index cards Below the status indicator are **market index cards** that give you a quick read on how the broad market is doing. Each card shows a live price and the intraday percentage change: | Card | Tracks | | ------------ | --------------------------- | | **S\&P 500** | Broad U.S. large-cap stocks | | **Nasdaq** | Tech-heavy U.S. market | | **Dow 30** | 30 large U.S. companies | | **Gold** | Gold | | **Oil** | Oil | | **Bitcoin** | Bitcoin |
*** #### Movers The home page highlights actively traded stocks and ETFs. | List | Description | | ------------ | ---------------------- | | Most active | Highest trading volume | | Top gainers | Largest gains today | | Top losers | Largest declines today | | Popular ETFs | Widely traded ETFs | Select any row to open its detail page.
*** #### Search and Screener Already know what you want? Use the **search bar** at the top of the page. Type a company name or ticker — for example `AAPL` or "Apple" — and pick the result to jump straight to its detail page.
Next to the search bar is the **Screener** button. Screener opens a fuller browsing view where you can scroll the wider list of supported stocks and ETFs and find names that aren't featured in the movers lists.
{% hint style="info" %} You'll always see the bare ticker for U.S.-listed stocks and ETFs — `AAPL`, `MSFT`, `SPY`, and so on. {% endhint %} *** ### Open a Stock To move from browsing to a specific stock or ETF, click its row anywhere it appears — an index card, a movers list, a search result, or Screener. That takes you to the **detail page**, where you'll find the price chart, company or fund information, news, and the order form to place a trade.
*** ### Research a Stock When you open any ticker, you land on its detail page. The same page works for individual stocks and for ETFs, with a few sections that change depending on which one you're looking at. This section walks through each part of the page. #### Price Header The header displays: * Company logo and ticker * Company name * Current price * Daily price change * Market status * Favorites button Outside regular trading hours, additional session pricing may be shown.
*** #### Chart The Chart tab is open by default and displays an interactive candlestick chart. Available intervals include: * 1D * 1W * 1M * 6M * YTD * 1Y * All Each interval displays the price change for that period, making it easy to compare performance across different timeframes. **Hover over** the chart to view the price, time, and trading session for any point in the chart. The price header updates to match your selection and returns to the live price when you move your cursor away.
*** #### Financials (Stocks Only) The Financials tab provides recent company performance data. Available metrics include: * Revenue * Net income * EPS * Earnings beats and misses
{% hint style="info" %} The Financials tab is for individual companies. ETFs don't report company earnings, so this tab doesn't appear on an ETF's page — look at the **Holdings** tab instead to see what an ETF contains. {% endhint %} *** #### News The News tab contains recent articles related to the stock. Each article displays: * Headline * Summary * Sentiment indicator * Author * Publication time Select an article to read the full story.
*** #### About The About tab provides background information. For stocks: * Company description * Website * Key company metrics For ETFs: * Fund description * Fund metrics
*** #### Holdings (ETFs Only) ETF pages include a Holdings tab. The tab lists: * Underlying holdings * Current values * Portfolio weights If a holding is supported on Backpack, you can open its detail page directly.
*** ### Your Position The right side of the page is where you trade and track what you own. * The **order form** sits at the top — use the **Buy / Sell** toggle to start a trade. See How to Buy & Sell Stocks on Web for the full walkthrough. * If you already hold the stock, a **Your Position** card shows your **Market Value** and the number of **Shares** you hold (for example, "0.5 AAPL"). Your stock balances live in the same portfolio as your crypto — there's no separate stocks account. * **Related tickers** suggest similar stocks or ETFs you might want to look at next. * If you have an order being processed, a **pending order** card appears here so you can check its status.
*** ### Unsupported Tickers If a stock isn't supported, you'll see a **Stock not found** message. Backpack currently supports: * A broad range of major U.S.-listed stocks * U.S.-listed ETFs Coverage keeps expanding over time. Non-U.S. securities are not supported. # 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**.](/backpack-securities/eligibility-and-access) *** ### 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.
*** #### 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**.](/backpack-securities/trading-hours-and-fees)
*** #### Step 3:[ Enable Trading ](/backpack-securities/eligibility-and-access#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.
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
{% 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](/backpack-securities/trading-hours-and-fees)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**](/backpack-securities/trading-hours-and-fees) for details. **Real Ownership** * Filled trades represent real ownership held as a security entitlement. * For more information, see [**Real Ownership & Legal Framework**.](/backpack-securities/real-ownership-and-legal-framework) # Trading Hours & Fees Backpack Securities follows the full U.S. equities schedule, so you can trade across the overnight, pre-market, regular, and after-hours sessions — not just during the standard 9:30am–4:00pm window. Stocks settle in **USD** and draw from the same balance as the rest of your account: there's no separate stocks wallet to top up and no separate brokerage balance to manage. This page covers **when** you can trade and **what it costs** — the session schedule, how to read the market status indicator, how a buy is funded, and how fees work. *** #### Trading hours All times in this section are **U.S. Eastern Time (ET)**. This explains each session, how to tell at a glance which one is active, and what changes outside regular hours. **The sessions**
SessionEastern TimeDaysWhat you can trade
Overnight8:00pm – 4:00amSun night → Fri morningWhole shares only
Pre-market4:00am – 9:30amMon – FriWhole shares only
Regular hours9:30am – 4:00pmMon – FriWhole and fractional shares
After-hours4:00pm – 8:00pmMon – FriWhole shares only
Weekend&HolidaysFri 8:00pm → Sun 8:00pm, and U.S. market holidaysVariesEligible securities (whole and fractional shares)
{% hint style="info" %} **Note:**\ Most securities trade continuously from **Sunday 8:00pm ET through Friday 8:00pm ET** across the overnight, pre-market, regular, and after-hours sessions. **Some eligible securities also support weekend trading.** Weekend availability depends on the individual security. See [**Weekend Stock Trading** ](/backpack-securities/weekend-stock-trading)for details. {% endhint %} **Reading the market status indicator** Every Backpack Securities page shows a **market status indicator** — a small colored dot with a label that tells you which session is live right now: * **Market Open** — regular hours * **Pre-market** * **After-hours** * **Overnight** When a session is active, the dot pulses. Hover over it to open a trading-hours tooltip: a colored timeline showing each session's range, with the Eastern Time hours automatically converted to your local timezone. When the market is closed, the indicator also shows a countdown — for example, "3h 12m till Trading" — so you know when the next session begins. You'll find the same indicator on the Backpack Securities home page and on the header of any individual stock's page.
**Whole vs. fractional shares** Whether you can buy a fraction of a share depends on the session. {% hint style="info" %} Fractional shares are available during regular market hours (9:30 am –4:00 pm ET, Monday–Friday), as well as during weekend trading and market holiday trading for eligible securities. {% endhint %} If fractional shares aren't supported during the current trading session, the order form will display a message like: > Fractional shares are only available during market hours. To trade now, buy in whole shares. To place the trade right away, round to a whole number of shares, or wait until the next trading session that supports fractional shares. For the full order walkthrough, see [How to Buy & Sell Stocks on Web.](/backpack-securities/how-to-buy-and-sell-stocks-on-web) **The overnight session** Yes — stocks really do trade after 8:00pm. Backpack Securities includes an **overnight session** that runs from **8:00pm to 4:00am ET**, Sunday night through Friday morning. It's whole-shares-only, and pricing is wider than during regular hours (more on that below), but it does run. The market status indicator will read "Overnight" and pulse while it's active. **Why pricing changes outside regular hours** Backpack Securities is quote-based: when you preview an order, you see a live quote that reflects current market conditions and available liquidity. Outside regular hours there's **less liquidity in the market**, so quotes are naturally wider — the gap between buy and sell pricing widens, especially overnight. This isn't a Backpack fee; it reflects the state of the underlying market at that time. There's no separate commission on stock trades (see Funding & fees below), and if you'd prefer the tightest pricing, trade during **regular hours**, when liquidity is deepest. **Holidays, early closes, and weekends** You don't need to track the market calendar yourself — these are handled automatically: * **U.S. market holidays.** Some eligible securities remain available during market holiday trading. Availability depends on the individual security. * **Early-close days.** On days the U.S. market closes early, regular hours end earlier and the after-hours session begins earlier, in step with the official schedule. * **Weekends.** Some eligible securities remain available during weekend trading. Availability depends on the individual security. If you try to trade a security outside its available trading sessions, you may see a "No quote available" message. This usually means the security isn't currently available for trading. *** #### Funding & fees Your stock trades draw from the same balance as the rest of your account — buying a stock spends your available USD, and selling one returns USD to that same balance. This covers how a buy is funded, what "available" means, and how fees work today. **Funding a buy** When you buy a stock, it's funded from your **available USD**. The order form shows this on the **Available** row, and on the buy side you'll see quick-amount badges — **25%**, **50%**, **75%**, and **Max** — that fill in a portion of that available balance for you. (Badges are dimmed if your balance isn't enough for them.)
A few things are worth knowing about what counts toward that balance. **Lent USD counts as available** If your USD is sitting in Backpack's lending pool, you don't need to redeem it before buying a stock. It's automatically pulled back to fund the purchase, and the **Available** balance shown on the order form already includes your lent USD. You can buy in one step. **No margin or borrowing on stock buys** Backpack won't automatically borrow USD to fund a stock purchase, and there's no margin toggle on the stock order form. Stock buys use USD you actually hold (including lent USD, as above) — they can't be auto-borrowed against. If you do want to buy with borrowed USD, you can do it manually: turn **Auto Lend** off, borrow the USD you want through Backpack's lend/borrow product, and then place your stock order. The usual borrowing rules apply to that loan, but the stock holding itself isn't traded on margin. {% hint style="info" %} **Your stocks can't be used as collateral** for other positions right now. A stock balance doesn't count toward margin and can't back a perp or other borrowed position — so a stock you hold can't be force-liquidated and doesn't put your other balances at risk. {% endhint %} **Selling returns USD** Selling a stock returns USD to your available balance. Because everything settles in USD, the proceeds land right back in the same balance you funded the buy from — ready to redeploy into another trade, lend out, or withdraw normally. Selling is also how you exit a position today. For more on holding and exiting, see Your Holdings, Dividends & Corporate Actions. **Fees: no separate commission** There's **no separate commission or platform fee** on stock trades — the price you preview and confirm is the price you pay. You aren't billed anything separately. When you reach the **Preview** step, the **Estimated Price**, **Subtotal**, and **Total** you see are what you trade at. There's nothing extra added after. {% hint style="info" %} **Why do prices look a little wider outside regular hours?** There's less liquidity overnight, pre-market, and after-hours, so quotes are naturally wider then — especially overnight. That's expected market behavior, not an extra charge. See Trading hours above for the session schedule. {% endhint %} **Is there a minimum?** 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 shares during weekend and market holiday trading.** During **overnight, pre-market, and after-hours** sessions, the minimum order size is **1 whole share**. Every order must be worth at least **$1**. **Funding & fees at a glance** | Topic | How it works | | -------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | | Settlement currency | USD | | Funding a buy | Your available USD — lent USD is auto-counted and pulled back as needed | | Margin / borrowing | No margin on stock buys; manually borrow USD (Auto Lend off) if you want to | | Stocks as collateral | Not available — stock balances don't back other positions | | Selling | Returns USD to your available balance | | Fees | No separate commission or platform fee | | Minimum order | 0.01 share during regular market hours, and during weekend and market holiday trading for eligible securities; 1 whole share during overnight, pre-market, and after-hours sessions; $1 minimum order value | *** #### Quick reference
Can I trade stocks 24/7? Most securities trade continuously from Sunday 8:00pm ET through Friday 8:00pm ET across the overnight, pre-market, regular, and after-hours sessions. Eligible securities may also be available during weekend and market holiday trading. Availability depends on the individual security.
Why can't I buy a fractional share right now? **Fractional shares are available during regular market hours (9:30 am –4:00 pm ET, Monday–Friday), as well as during weekend and market holiday trading for eligible securities.** For securities that don't support weekend or market holiday trading, only whole-share quantities are supported during overnight, pre-market, and after-hours sessions. To trade immediately, round your order to a whole share, or wait until the next trading session where fractional shares are available.
Why does pricing look wider overnight or in pre-market? There's less liquidity outside regular hours, so quotes are naturally wider — especially overnight. Trading during regular hours generally gives you the tightest pricing.
What does the market status indicator tell me? It shows which session is live right now (Market Open, Pre-market, After-hours, Overnight) and pulses when active. Hover over it for a session timeline in your local time, plus a countdown to the next opening when the market is closed.
What does it cost to trade a stock? There's no separate commission or platform fee. The price you see in the order form is the price you trade at — nothing is added after.
Can I buy a stock with borrowed USD? Not automatically — there's no margin or auto-borrow on stock buys. If you want to, you can do it manually: turn Auto Lend off, borrow the USD through Backpack's lend/borrow product, then place your order. The stock holding itself isn't traded on margin, and stocks can't be used as collateral for other positions.
*** For how the full trade flow works step by step, see [How to Buy & Sell Stocks on Web](/backpack-securities/how-to-buy-and-sell-stocks-on-web). To browse what's available first, head to [Finding & Researching Stocks](/backpack-securities/finding-and-researching-stocks). For how your holdings and the regulated brokers behind them work, see [Real Ownership & Legal Framework.](/backpack-securities/real-ownership-and-legal-framework) For more questions, see the [FAQ](/backpack-securities/faqs). # Weekend Stock Trading #### Overview Backpack offers weekend trading for select US equities through native spot orderbooks while traditional US exchanges are closed. During regular US trading sessions, Backpack routes spot equities orders to traditional US exchanges. This includes the supported weekday sessions: pre-market, regular market, after-hours, and overnight trading. Weekend trading uses a different liquidity model. When the weekend session is active, orders for supported stocks are routed to Backpack’s native weekend orderbooks, where liquidity is provided by market makers. The security being traded does not change. It is not a futures contract, nor a synthetic instrument. A share bought or sold during the weekend session is the same real US security that users trade during the week. The difference is the source of liquidity. A user can buy a stock over the weekend, and sell it on Monday through the traditional brokerage flow once US markets open. #### How weekend trading works The weekend session normally runs from Friday 8:00 PM ET to Sunday 8:00 PM ET. This starts after the Friday after-hours session ends and continues until the Sunday overnight session begins. During this window: * Supported spot equities are traded on Backpack-native orderbooks. * Orders are matched against liquidity available on those orderbooks. * Orders are not routed to traditional US exchanges while those exchanges are closed. * Shares bought or sold are the same US securities traded during weekday sessions. * Fractional share trading is available. When the Sunday overnight session begins, routing transitions back to Backpack’s standard US equities flow. #### Holidays Weekend trading may also apply when traditional US exchanges are closed for a market holiday. For example, if US exchanges are closed on a Friday or Monday, supported equities may continue trading through Backpack’s native orderbook model while traditional exchange routing is unavailable. {% hint style="info" %} Note: Liquidity during weekend and holiday sessions may be thinner than during regular US market hours. Spreads may be wider, and prices may move differently while traditional US exchanges are closed. {% endhint %} # Your Holdings, Dividends & Corporate Actions When a stock or ETF trade fills, the shares are held for you as real **security entitlements** — the same private property rights you'd have holding shares at firms like Schwab, Fidelity, Vanguard, and Robinhood. On Backpack, those holdings simply appear as balances in your portfolio, right next to your crypto. This page explains how that looks day to day, how you exit a position, and which shareholder features are live now versus still being worked on. For the legal detail behind ownership and custody, see [Real Ownership & Legal Framework.](/backpack-securities/real-ownership-and-legal-framework) *** #### How your holdings appear There's no separate stocks account, balance, or login. Your USD, BTC, SOL, and any stocks you hold all live together in one Backpack portfolio. Once a buy fills, your shares show up as a balance — for example, **0.5 AAPL** — alongside your other assets. Fractional positions are supported, so you might hold a partial share. There's nothing extra to set up or manage.
On a stock's detail page, a **Your Position** card appears in the right sidebar whenever you hold that stock. It shows: * **Market Value** — the current value of your position in USD * **Shares** — how many shares you hold (for example, `0.5 AAPL`)
For how to read the rest of the detail page — the chart, financials, news, and company info — see [Finding & Researching Stocks.](/backpack-securities/finding-and-researching-stocks) *** #### How you exit a position Today, the way to exit a stock position is to **sell it back to USD inside Backpack**. When a sell fills, the proceeds return to your available USD balance, ready to redeploy into another stock, into crypto, or to withdraw. To sell, open the stock, switch the order form to the **Sell** tab, enter the quantity, and confirm the quote. The step-by-step flow is in How to Buy & Sell Stocks on Web. {% hint style="info" %} **Stock can't yet be moved to an external wallet, broker, or other platform.** External transfers are still being worked on (see Transfers, out below). {% endhint %} Because stocks aren't traded on margin and can't be used as collateral, a stock position can't be force-liquidated and doesn't put your other balances or positions at risk. (If you choose to fund a purchase with borrowed USD, the usual borrowing rules apply to that loan — but the stock holding itself isn't margined.) More on funding is in Trading Hours & Fees. *** #### Dividends Dividend information is shown on stock detail pages for reference. **Cash dividend payouts into your balance are still being worked on** — they aren't enabled yet. The brokerage structure behind Backpack Securities supports cash dividend distributions on eligible securities. Once payouts are enabled: * Eligible holders may receive cash dividends, paid in USD. * The exact amount can vary with issuer actions, applicable withholding taxes, and jurisdictional or operational requirements. * Certain tax certifications may be required before you can receive payouts or qualify for any tax-treaty treatment. Dividend tax treatment depends on your jurisdiction, the issuer's jurisdiction, and relevant tax rules. Backpack doesn't provide tax advice — please consult a qualified tax adviser about your individual situation. *** #### Stock splits & corporate actions Split and corporate-action information is shown for reference today. **Having corporate actions reflected in your Backpack balance is still being worked on.** So if a stock you hold goes through, say, a 2-for-1 split, you may see the split noted on the stock's page before your balance updates to match. The underlying brokerage infrastructure supports mandatory corporate actions — including stock splits, reverse splits, mergers, and certain spinoffs — and balance adjustments are coming. Once enabled, exact treatment can vary with issuer actions, brokerage support, regulatory requirements, and operational considerations. **Delistings.** If a company you hold is delisted or otherwise 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. *** #### Voting rights Shareholder voting for certain securities is supported by the underlying brokerage infrastructure and is **still being worked on** — it isn't enabled yet. Once available, voting may apply to certain securities, subject to issuer arrangements, applicable regulations, and operational limitations. *** #### Transfers, out The underlying brokerage infrastructure supports traditional transfer systems, including **ACATS** and **DTCC**-related processes, used to move positions between brokers. Support for external broker-to-broker stock transfers is still under development and is not yet available. Some tokenized stocks and ETFs can now be withdrawn to an external Solana wallet. For assets that do not support this feature, positions cannot be transferred to an external wallet, broker, or another platform. To take value off the platform for unsupported assets, sell your position back to USD and withdraw the USD. *** #### Taxes 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, so we recommend keeping your own records. For anything tax-related, consult a qualified tax adviser — nothing here is tax, legal, or investment advice. *** #### At a glance | Feature | Status today | | ---------------------------------------------------- | -------------------------------------------------------------------------------------- | | Holdings shown in your portfolio alongside crypto | Live | | Fractional positions | Live (buys/sells in fractional shares during regular hours — see Trading Hours & Fees) | | Cash dividend payouts | Still being worked on (info shown now) | | Splits & corporate actions reflected in your balance | Still being worked on (info shown now) | | Voting rights | Still being worked on | | External transfers (ACATS / DTCC) | Still being worked on | | Stocks as collateral for other positions | Not available | | Tax documents (statements / cost-basis / P\&L) | Not provided — keep your own records | {% hint style="info" %} These shareholder features are supported by the regulated brokerage chain behind Backpack Securities — your account is introduced by **Backpack Securities Global Limited** and supported by a U.S. brokerage chain, with **Atomic Vault Securities, LLC** as Intermediary Broker and **RQD Clearing, LLC** as Clearing Broker. See Real Ownership & Legal Framework for the full structure. {% endhint %} Have another question? [The FAQ](/backpack-securities/faqs) covers quick answers on dividends, splits, transfers, taxes, and more. # Real Ownership & Legal Framework {% hint style="info" %} This page explains **how ownership works** when you buy stocks on Backpack: you own real U.S. stocks and ETFs, held the same way they're held at firms like Schwab, Fidelity, Vanguard, and Robinhood. Some shareholder features described below — cash dividends, corporate actions reflected in your balance, voting, and external transfers — are supported by the underlying brokerage infrastructure but are **not yet active in your account** during the public beta. We're still working on building these out. {% endhint %} For how trading, funding, hours, and fees work day to day, see the [companion FAQ ](/backpack-securities/faqs)page. *** #### Summary
TopicBackpack Securities
ProductReal U.S. stocks and ETFs
Synthetic exposureNo — not CFDs, SPVs, structured products, synthetic derivatives, or tokenized wrappers
Legal frameworkSecurity entitlements under New York Uniform Commercial Code (UCC) Article 8
Governing lawNew York
Nature of interestSecurity entitlement under New York UCC
Bankruptcy treatmentBankruptcy-remote under New York UCC
Introducing brokerBackpack Securities Global Limited, a New Zealand corporation
Clearing & custodyClearing Broker: RQD Clearing, LLC (CRD 134284) · Intermediary Broker: Atomic Vault Securities, LLC (CRD 317194) — both SEC-registered broker-dealers and FINRA & SIPC members
Cash DividendsSupported; tax treaty dividend withholding benefits will apply once this is enabled (tax certifications such as Form W-8BEN will apply once enabled)
Corporate actionsSupported by the brokerage infrastructure (stock splits, mergers, certain spinoffs); reflected in balances is still being worked on
TransfersACATS- and DTCC-eligible via the brokerage infrastructure.
*** #### What you own & legal structure When you buy stocks on Backpack, you own **real U.S. stocks and ETFs** — not a CFD, SPV interest, derivative, wrapper, or other synthetic instrument. On Backpack, your holdings simply appear as stock balances alongside your crypto in the same account.
What exactly do I own when I buy stocks on Backpack? You own real U.S. stocks and ETFs, held as "**security entitlements**" under New York UCC Article 8 — the same private property interest that applies to stock holdings across the U.S. brokerage industry, including Charles Schwab, Fidelity, Vanguard, and Robinhood. Your positions are accessed through regulated U.S. brokerage, clearing, and custody infrastructure.
Is this synthetic exposure, a CFD, a perpetual, a structured product, or a tokenized wrapper? No. Backpack Securities is **not** a CFD, SPV interest, structured product, synthetic derivative, or tokenized wrapper. A security entitlement is a recognized **property interest** under U.S. law — not merely a contractual IOU from Backpack or the introducing broker, and not synthetic price exposure. Your holding represents a real interest in the underlying security held through the brokerage chain.
What is a "security entitlement"? Under New York UCC Article 8, securities held through brokerage accounts are generally held as "security entitlements." A security entitlement is a **legally recognized property interest** in financial assets held through a securities intermediary. This is the standard legal structure used across all modern U.S. brokerage systems. A security entitlement is different from: * unsecured debt owed by a platform * a contractual claim against an exchange * synthetic price exposure
Why does New York UCC Article 8 — and § 8-110(e) — matter? UCC Article 8 is the legal framework governing securities intermediaries across the U.S. financial system. Under UCC § 8-110(e), Backpack Securities is governed by **New York law** for all customer security entitlements. This means your securities interests are treated under the same long-established legal framework widely used by U.S. broker-dealers and traditional brokerage infrastructure. In practice, § 8-110(e) governance provides holders with clear rights as to: * customer property interests * security entitlement treatment * priority rights * intermediary insolvency protections * enforceability under applicable U.S. law
*** #### Bankruptcy remoteness & asset protection
Are customer securities legally separated from Backpack's corporate assets? Yes. Under UCC § 8-503, financial assets credited to customer brokerage accounts are **not** treated as property of the intermediary itself, and are generally protected from the intermediary's creditor claims. Your stock holdings are segregated from Backpack's corporate assets.
Are my securities just an unsecured claim against Backpack? No. Under the UCC Article 8 framework, customer security entitlements are **direct property interests** in financial assets held through the brokerage chain — not unsecured debt obligations owed by Backpack.
Can the intermediary's creditors claim my securities in the event of a bankruptcy? No. Under UCC § 8-503, customer security entitlements are separate from the intermediary's corporate assets and are not available to satisfy the intermediary's creditor claims, including in a bankruptcy.
*** #### Brokerage, Clearing & Custody Backpack Securities operates through established, U.S.-regulated securities intermediaries. Your account is introduced by Backpack Securities Global Limited and supported by a regulated U.S. brokerage chain — an **Intermediary Broker** (Atomic Vault Securities, LLC) and a **Clearing Broker** (RQD Clearing, LLC) — that execute, clear, and custody your securities. You can verify each entity yourself on FINRA BrokerCheck using the links below.
Who is the introducing broker? The introducing broker is **Backpack Securities Global Limited**, a New Zealand corporation.
Who clears and custodies the securities? Clearing and custody are handled by regulated U.S. brokerage infrastructure providers: | Entity | Role | Regulatory status | CRD # / SEC # | | -------------------------------- | ---------------------------------------------- | ------------------------------------------------- | ------------------------ | | **RQD Clearing, LLC** | Clearing Broker — U.S. clearing & custody | SEC-registered broker-dealer; FINRA & SIPC member | CRD 134284 / SEC 8-66826 | | **Atomic Vault Securities, LLC** | Intermediary Broker — U.S. brokerage & custody | SEC-registered broker-dealer; FINRA & SIPC member | CRD 317194 / SEC 8-70868 |
Are these entities regulated in the United States? Yes. The downstream brokerage and clearing entities operate within established U.S. brokerage regulatory infrastructure, including: * SEC registration * FINRA membership * applicable brokerage and custody obligations under U.S. securities law
How can I independently verify the brokerage entities? You can verify each entity through public regulatory records on FINRA BrokerCheck: * **RQD Clearing, LLC** — [BrokerCheck (CRD 134284)](https://brokercheck.finra.org/firm/summary/134284) * **Atomic Vault Securities, LLC** — [BrokerCheck (CRD 317194)](https://brokercheck.finra.org/firm/summary/317194)
*** #### Asset backing
Are stocks held 1:1 against my position? Yes. Under Article 8-504 of the New York UCC, each customer security entitlement must be backed **1:1** with securities held in the underlying U.S.-regulated brokerage and clearing chain.
*** #### Dividends, corporate actions & voting {% hint style="info" %} The shareholder features in this section are **supported by the brokerage infrastructure** but are **not yet active in your account**. Each is **still being worked on**. Please don't expect them to be active in your account just yet. {% endhint %}
Will I receive cash dividends? Cash dividend distributions on supported securities are **supported by the brokerage infrastructure and still being worked on** — they are not yet active in your account. Once enabled, eligible users may receive cash dividends, which may vary depending on issuer actions, applicable withholding taxes, and jurisdictional or operational requirements.
How will dividend taxes be handled? Once dividends are enabled, applicable withholding taxes may apply depending on your jurisdiction, the issuer's jurisdiction, and relevant tax rules. To qualify for any tax-treaty treatment, you will need to complete a **Form W-8BEN** (or a similar certification). You should consult your own tax adviser regarding your individual tax treatment.
How will stock splits, mergers, and other corporate actions be handled? Mandatory corporate actions — including stock splits, reverse splits, mergers, and certain spinoffs — are **supported by the brokerage infrastructure**. Having these reflected in your Backpack balance is **still being worked on** and is not yet active in your account. Once enabled, treatment may vary depending on issuer actions, brokerage support, regulatory requirements, and operational considerations.
Will I get voting rights? Voting rights for certain securities are **supported by the underlying brokerage infrastructure** and are **still being worked on** — they are not yet active in your account. Once enabled, voting may be available for certain securities, subject to issuer arrangements, applicable regulations, and operational limitations.
*** #### Liquidity & market structure
Does Backpack connect to real market liquidity? Yes. Backpack Securities connects to established U.S. market infrastructure, giving you access to liquidity and pricing anchored to **real equity markets**, including NYSE- and NASDAQ-listed securities.
Are trades internally matched or synthetically priced? No. Backpack Securities operates through established brokerage and clearing infrastructure supporting **real underlying securities transactions** and market-based pricing. It is not a synthetic price-exposure product. On Backpack, trades are quote-based: you're shown a short-lived quote that auto-refreshes while you review the order, rather than placing orders into a user-facing order book. Behind the scenes, execution may involve standard brokerage routing and execution processes depending on market structure and operational considerations.
*** #### Transfers
Can I transfer my stocks to another broker (ACATS / DTCC)? Yes. The underlying brokerage infrastructure supports traditional transfer systems, including **ACATS** and **DTCC**-related processes.
*** {% hint style="info" %} **Disclaimer.** This page is general information only and is **not** legal, tax, or investment advice. Legal protections described here operate under applicable law, and exact outcomes can depend on court proceedings and the facts of a particular event. Backpack Securities is not offered in certain jurisdictions, including the United States, the United Kingdom, the United Arab Emirates, and Japan, and is not offered on Backpack EU. Please consult your own legal, tax, and financial advisers regarding your individual circumstances. {% endhint %} # 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** introduction at the top of this section. *** **Getting started**
Where do I find Backpack Securities? You'll find it on the Backpack website (backpack.exchange) in your browser. 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.
Do I need to do anything before my first trade? 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)
Is there a minimum amount to start? Yes — a small one. During regular U.S. market hours you can trade fractional shares down to **0.01 of a share** (in 0.01-share steps), and every order needs to be worth at least **$1**. Outside regular hours, the minimum is **1 whole share**. Because fractional shares are available during regular hours, you can still start small. See [Trading Hours & Fees.](/backpack-securities/trading-hours-and-fees)
Is Backpack Securities in beta? Yes — Backpack Securities is in **public beta**. It's open to eligible users, web-only for now (mobile is coming), and some shareholder features (like cash dividends and external transfers) are still being added. Everything covered in these guides — buying, selling, and holding real U.S. stocks and ETFs — works today.
*** **What you can trade**
What stocks and ETFs can I trade? 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 [Finding & Researching Stocks.](/backpack-securities/finding-and-researching-stocks)
Are these real stocks, or synthetic exposure? They're real U.S.-listed stocks and ETFs — not CFDs, perpetuals, structured products, synthetic derivatives, or tokenized wrappers. When a trade fills, the shares are held for you as genuine security entitlements, the same private property rights you'd have at firms like Schwab, Fidelity, Vanguard, and Robinhood. For the full custody and legal structure, see [Real Ownership & Legal Framework.](/backpack-securities/real-ownership-and-legal-framework)
*** **How trading works**
Why don't I see an order book? Backpack Securities is quote-based, not order-book based. You request a price, Backpack returns a live quote, and you accept it. There's no other side of the trade to match against the way there is on a crypto market — so there are no maker/taker mechanics or slippage settings to manage. See [How to Buy & Sell Stocks on Web.](/backpack-securities/how-to-buy-and-sell-stocks-on-web)
Why did the price refresh on its own? 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.
Can I set a stop-loss or take-profit on a stock order? Not yet. Stock trading uses the quote flow only — you review a live quote and confirm. Conditional order types like stop-loss and take-profit aren't available for stocks.
Can I use trading bots, copy trading, or the API with stocks? Not yet. Automated and programmatic tools — including the Grid bot and the API — aren't available for stocks. Stock trading is manual through the quote flow for now.
*** **Quotes & order results**
What does "No quote available" mean? 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.
I clicked Buy and the trade failed — what happened? 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 [How to Buy & Sell Stocks on Web.](/backpack-securities/how-to-buy-and-sell-stocks-on-web)
My trade has been pending for a while. 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.
*** **Trading hours**
Can I trade fractional shares? Only during regular hours (9:30am–4:00pm ET, Monday–Friday). Outside regular hours — including overnight, pre-market, and after-hours — only whole-share quantities are accepted. See [Trading Hours & Fees.](/backpack-securities/trading-hours-and-fees)
What's the "overnight" session — I thought stocks didn't trade after 8pm? 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/trading-hours-and-fees)
Why does pricing look wider overnight or in pre-market? There's less liquidity outside regular hours, so quotes are naturally wider — especially overnight. During regular hours, pricing is typically tightest.
*** **Funding & fees**
Is there a fee? 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.](/backpack-securities/trading-hours-and-fees)
Can I use my stocks as collateral for other positions? Not today. Stock balances don't count toward margin or act as collateral for other positions. Using stocks as collateral is something we're working toward, but it isn't available yet.
Can my stocks be liquidated, or affect my crypto and perp positions? No. Stocks aren't traded on margin and can't be used as collateral, so a stock position can't be force-liquidated and doesn't put your other balances or positions at risk. (If you choose to fund a purchase with borrowed USD, the usual borrowing rules apply to that loan — but the stock holding itself isn't margined.)
Can I lend out my stocks to earn yield? No. Only USD and supported crypto can be lent through Backpack's lending pool — stock balances can't be lent out.
*** **Holdings, dividends & corporate actions**
Where's my dividend? 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)
A stock I own had a 2:1 split, but my balance didn't change. Why? 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.
Can I move my stock to an external wallet or another platform? Not yet. For now, the way to exit a stock position is to sell it back to USD inside Backpack. External transfers (including ACATS transfers to another broker) are still being worked on. See [Your Holdings, Dividends & Corporate Actions.](/backpack-securities/your-holdings-dividends-and-corporate-actions)
What happens if a company I hold is delisted? 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.
*** **Taxes**
How are my stocks taxed, and do you provide tax documents? 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.
*** 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) # Exchange # Exchange Account # Create a New Account # How to Create an Account on the Web? To get started, visit Backpack Exchange and select 'Sign Up'. **Note: Ensure that you're on the official Backpack Exchange domain** * ‍[https://backpack.exchange](https://backpack.exchange/) {% stepper %} {% step %} ### Select 'Sign up' and begin creating a new account #### 1) Input a valid email address * **Note: You will need access to this account later in the registration process.** #### 2) Create a strong and unique password * ‍**Note: The password must be a combination of numbers and letters. It should contain 9-20 characters, at least one number, and one upper case.** #### 3) Review the User Agreement and Privacy Policy #### 4) Enter a Referral code (if applicable)
{% endstep %} {% step %} ### Verify your email address You will receive an automatic verification code in your email. Enter this code within 10 minutes. If you don't see the email, check other folders like Spam or Promotions. ‍**Reach out to Support if the issue persists.**
{% endstep %} {% step %} ### Begin the Identity Verification process 1\) Choose your Country of Residence * [Supported regions and countries](/exchange/exchange-account/identity-verification/supported-regions) * [Proof of address (POA) submission guidelines](/exchange/exchange-account/identity-verification/kyc-required-documents#proof-of-address-poa-submission-guidelines)
{% endstep %} {% step %} ### Begin the Identity Verification process
{% endstep %} {% endstepper %} # How to Create an Account on Mobile? You'll need to register first before you can start trading on Backpack Exchange. Setting up your account on Backpack Exchange is simple and straightforward. ### Download the Backpack mobile application * ‍[iOS App Store](https://apps.apple.com/us/app/backpack-wallet-exchange/id6445964121) * ‍[Google Play](https://play.google.com/store/search?q=backpack+wallet+and+exchange\&c=apps\&hl=en_US) ### Initiate 'Create a new account' {% stepper %} {% step %} **Input a valid email address** :warning:***Note:*** You will need access to this email account later in the registration process. {% endstep %} {% step %} **Enter a referral code** (if applicable).
{% endstep %} {% step %} After clicking **“Sign Up,”** create a **strong and unique password**. {% endstep %} {% step %} Click **“Next,”** then enter the **one-time passcode (OTP)** sent to your registered email.
{% endstep %} {% step %} Click **“Start”** to begin the **Identity Verification** process: * **Choose your Country of Residence**, then click **“Next.”** * [Supported regions and countries](/exchange/exchange-account/identity-verification/supported-regions) * [Proof of address (POA) submission guidelines](/exchange/exchange-account/identity-verification/kyc-required-documents#proof-of-address-poa-submission-guidelines) * **Enter your personal information**, then click **“Continue.”**
* **Enter your address** exactly as it appears on your government-issued ID. * **Select your source of funds and employment status truthfully**, then click **“Continue.”**
* **Provide alternative contact information**, then click **“Continue.”** * **Verify your identity.**
{% endstep %} {% endstepper %} # FAQs
What should I do if I forgot to enter an invitation code during registration? * If you did not enter an invitation code correctly during registration, your account will still be successfully created. However, once registration is complete, the invitation code cannot usually be added or changed. * If you believe this is an error, please feel free to contact our support team at .
Can I change my invitation code? Invitation codes are generally fixed after registration and **cannot be modified.**
Can a user register two accounts using different IDs? For security and compliance reasons, **each user is permitted to maintain only one verified account.** Creating multiple accounts with different IDs may result in account restrictions or suspension.
What should I do if I do not receive the registration verification email? * Check your spam or junk mail folder. * If you still have not received the verification email, please feel free to contact our support team at .
How long does the verification process take? Most verification requests are processed within a few minutes to several hours. In some cases requiring manual review, it may take up to 1–3 days. If your application shows ‘manual review required’ and it has not been approved within 3 days: 1. Please check if two accounts are using the same KYC information. 2. If not, check your email (including spam/junk folders) for any message from ****. 3. If you still haven’t received any update, please email **** directly, and our team will follow up.
Is my submitted information secure? **Yes.** All documents and personal data are transmitted and stored. Your information is strictly used for identity verification in compliance with regulatory requirements.
How can I ensure the security of my account after registration? We strongly recommend **enabling two-factor authentication (2FA)**, **setting a strong and unique password**, and **updating** your security settings regularly. **Avoid** sharing your login details with anyone.
Do I need to complete KYC again if I change my personal information? * Yes. If your legal name, address, or identification documents change, you may be required to update your KYC information and undergo re-verification. * Please use the email address registered with the exchange to send a change request to , and we will process it as soon as possible.
Can I change my KYC information to another person (i.e., transfer my account)? No. Exchange accounts are personal and non-transferable. KYC ties the account to the verified individual (or entity for corporate accounts). You may update your own details (e.g., new passport, legal name change, address) with supporting documents, but you cannot replace the verified person. * If another person wants to use Backpack, they must create their own account and complete KYC. * Sharing or selling accounts is not allowed and violates our Terms. * For business use, apply for an entity account instead. * Need to correct your information? Contact .
Is registration available in all countries/regions? Due to legal and regulatory requirements, our services are **not** available in certain countries or regions. Please refer to the [supported regions](/exchange/exchange-account/identity-verification/supported-regions) page or official announcements.
What should I do if I forget my login account after registration? If you forget your login email or account details, please use the account recovery feature on the login page or contact customer support for verification and recovery assistance.
Can I permanently delete my account? Yes, you can delete your account. For detailed instructions, please refer to [this page](/exchange/exchange-account/identity-verification/delete-your-account). :warning:**Please note** that once deleted, you will not be able to register again within 6 months.
# Identity Verification # Why KYC is Required? KYC (Know Your Customer) is a standard process required by global financial regulations. It serves several important purposes: * **Compliance With Regulations**\ KYC ensures that the exchange complies with international Anti-Money Laundering (AML) and Counter-Terrorist Financing (CTF) requirements. This helps prevent illegal activities such as money laundering, terrorist financing, and fraud. * **User Identity Verification**\ By verifying the identity of each user, the exchange can confirm that accounts are genuine and are not created with stolen or falsified information. * **Account and Asset Security**\ Verified accounts significantly reduce the risk of unauthorized access, identity theft, and fraudulent transactions. This helps protect both users and the platform. * **Improved Service Access**\ Completing KYC often provides users with higher transaction and withdrawal limits, as well as access to more advanced features and services. # KYC Required Documents ## **Standard KYC Requirements (applicable to most countries)** 1. Provide your full name, date of birth, and address. 2. Provide details about your source of income and occupation. 3. Upload a clear and valid identification document. 4. Complete a liveness check to verify your identity. These standard requirements might be tweaked for certain specific countries. For example, residents in **India, Brazil, Argentina, Indonesia, Nigeria** may complete their identity verification via local governmental digital identity initiatives. In certain countries, like **Australia and the United Arab Emirates**, additional information may be required such as a proof of address. #### **We do not serve residents of the following regions:** * North Korea, Iran, Cuba, Syria, and the Crimea, Sevastopol, Luhansk, and Donetsk regions of Ukraine. #### **Please stay tuned if you are residents of the following countries!** * **Canada** * **Japan** * **New Zealand** *** ## Institutional Account Identity Requirements To ensure the integrity and security of our platform, all institutional customers seeking to trade on Backpack Exchange must complete our Know Your Customer (KYC) verification process.\ ‍ This guide provides a detailed overview of the required documentation for institutional KYC verification. ### **Required KYC Documentation for Institutions:** #### **1) Country of Incorporation:** *Please specify the country where your institution was incorporated. This will determine specific KYC requirements as they may vary based on jurisdiction.* #### **2) Entity Name:** *Provide the full, legal name of your institution.* #### **3) Trading Activities Location:** *Indicate from which country or region you expect to conduct trading activities on the Backpack Exchange.* #### **4) Industry Classification:** *Indicate the primary industry or sector your company operates in.* #### **5) Phone Number:** *Provide a valid contact number for your institution.* #### **6) Company Address:** *State the complete physical address of your institution.* #### **7) Company’s Source of Income:** *Detail the primary sources of income for your institution (e.g., sales, investments).* #### **8) Incorporation Documents:** *Please upload either:* * Certificate of Incorporation;\ ‍ * Articles of Association; or\ ‍ * Any other corporate registration documents #### **9) Ultimate Beneficial Owners (UBOs) with ≥ 25% Ownership:** For any UBO owning 25% or more of the entity: * **Identification:** Upload a clear copy of the UBO's national ID or passport. * **Ownership Attestation:** Confirm that there are no other UBOs owning more than 25% of the entity. #### **10) Corporate Structure Documents:** *Please provide one of the following to clarify the corporate structure:* * Corporate structure chart;\ ‍ * Register of shareholders; or\ ‍ * Certificate of incumbency\ ‍ **Optional:** If you have additional documents that you believe will assist in the verification process, please feel free to upload them. **It's vital to ensure that all provided information is accurate and up-to-date.** Incomplete or inaccurate submissions may lead to delays in the verification process. *** ## Proof of address (POA) submission guidelines ### **Understanding Proof of Address** For the Know Your Customer (KYC) process, a Proof of Address (PoA) document is required by Sumsub to verify your residential address. This is a crucial step to ensure the security and integrity of our platform and your financial transactions. ### **What Qualifies as a Proof of Address Document?** Your PoA document must include your full name, your current residential address, and the date of issuance. The document should be recent (typically within the last 3 months) to ensure that the information is current. #### **Acceptable Documents Include:** * Utility bill (Gas, Water, Electricity, or Internet) * Bank statement * Credit card statement * Tax bill or official government correspondence #### **Document Requirements:** 1. **First Page:** The document must have your name, address, and date clearly visible on the first page. 2. **One-Page Document:** If possible, the document should be a single page. 3. **Date of Document:** The issue date should be within the last 3 months to ensure the information is up to date. 4. **Legibility:** The document must be clear and easy to read. Blurry, low-resolution, or otherwise illegible documents will not be accepted. **Unaltered:** The document must not be edited or redacted in any way. ### **Accepted File Types and Formats** When uploading your Proof of Address document, please adhere to the following accepted formats. The maximum file size for each document is 50 Mb. **File formats:** * JPEG * JPG * PNG * PDF ### **Having Trouble?** If you encounter any issues or have a document that does not meet the above criteria, you can still submit it for manual review. Our team will examine the document and assist you in completing the KYC process. * **Document larger than one page:** If your document is more than one page or does not meet the guidelines, please upload it anyway.\ ‍ * **Manual Review:** Our team will manually review any document you upload, even if it does not strictly meet the guidelines.\ ‍ * **Contact Us:** If you need assistance or have questions, please feel free to contact our support team at .\ ‍ **Remember, we are here to help you through the verification process.** Your security and privacy are our top priorities. # Supported Regions Backpack Exchange extends services to regions and countries across the globe. *** ### **Regions Not Served** We currently do not serve residents of the following countries and regions: * **North Korea** * **Iran** * **Cuba** * **Crimea Region of Ukraine** * **Sevastopol Region of Ukraine** * **Luhansk Region of Ukraine** * **Donetsk Region of Ukraine**\ **‍** Residents from these areas will not have access to the services provided by Backpack Exchange. #### **Please stay tuned if you are a resident of the following countries!** If you reside in any of the countries or regions listed below, we are not currently able to serve you, but we are working towards being able to do so in the future: * **Canada** * **Japan** * **New Zealand** **Note: Supported regions and countries are subject to change.** # Verify Your Account Identity This guide provides a detailed overview of the required documentation for KYC verification. To ensure the integrity and security of our platform, all individual and institutional customers seeking to trade on Backpack Exchange must complete our Know Your Customer (KYC) verification process. **Learn more about** [**KYC Verification Requirements here**](/exchange/exchange-account/identity-verification/kyc-required-documents)**.** *** ## Verify Individual Account Identity {% stepper %} {% step %} ### **Select the Individual account option type**
{% endstep %} {% step %} ### **Enter your Country of Residence and provide full name, date of birth and address**
{% endstep %} {% step %} ### **Provide details about your source of income and occupation**
{% endstep %} {% step %} ### **Complete KYC Requirements** **Note: Have your documentation prepared, you must upload scans or photos of each document.** #### **Declare residency**
#### **Choose the appropriate identification document**
#### **Upload the front and back of your identification**
#### **Scan your face** **Note:** You can complete this step using a mobile phone.
### **Verify your documentation**
#### Wait for identity verification to complete **Note:** Verification is not always instantaneous. {% endstep %} {% endstepper %} *** ## Verify Institutional and Business Account Identity ### Initiate Verification Process {% stepper %} {% step %} ### Select the Business account option type
{% endstep %} {% step %} ### Enter your Country of Registration and operations location
{% endstep %} {% step %} ### Complete the rest of the Entity Information
{% endstep %} {% step %} ### Add and upload proof of documentation
{% endstep %} {% step %} ### Wait for verification to complete :warning:**Note:** Verification is not always instantaneous\ Backpack Exchange uses an automated KYC system to complete Identity Verification. In some cases the system flags an account for a manual review by the Backpack Compliance team. * This can take up to 3 days during high demand periods. * If your KYC Identity Verification has been pending for more than 3 days, please feel free to contact our support team at .**‍** [**Learn how to create a new Backpack Exchange account here.**](/exchange/exchange-account/create-a-new-account) {% endstep %} {% endstepper %} # Delete Your Account ## How to Request Account Deletion？ If you’d like to delete your Exchange account, please email from the same email address linked to your account. Use “Account Deletion” as the subject line.\ Our team will guide you through the next steps and confirm once the process is complete. :warning:**Please note** that once deleted, you will not be able to register again within 6 months. *** ## Data Retention Backpack is committed to safeguarding your personal data and retaining it only as long as law and regulation require. Because we operate in a regulated financial environment, we **cannot delete a verified account or its historical records until the statutory retention period has elapsed** (typically five to seven years, depending on jurisdiction). The sections below explain why and outline the steps you can take to wind down your relationship with us while your data remains in mandatory retention. *** ### Who this guide is for * Customers with a **Backpack Exchange** account (web or mobile) * Users of **Backpack Wallet** who completed identity verification for the exchange #### Backpack Wallet (self‑custodial) Backpack Wallet is a self‑custodial application. Your private keys never leave your device, and we do not maintain a server‑side “wallet account.” Because we hold no wallet data, there is nothing for us to delete—simply uninstall the app or extension. Deletion and retention rules described below apply **only** to Backpack Exchange accounts. ### Why we cannot delete your account Financial‑services regulations—particularly Know‑Your‑Customer (KYC) and Anti‑Money‑Laundering (AML) rules—require regulated exchanges to preserve certain records for prescribed periods. These obligations apply to Backpack in every jurisdiction where we operate. #### Data we must retain
DataDeletableStatutory reason for retention
Account identifiers (email, username)❌KYC / AML record‑keeping (typically 5–7 years)
Identity documentation❌Audit trail, fraud prevention (typically 5–7 years)
Trade, funding & withdrawal history❌Financial‑record retention requirements (typically 5–7 years)
Linked on‑chain wallet addresses❌Permanent part of the transaction record
Support correspondence❌Security verification and legal traceability (typically 5–7 years)
Once the statutory window closes—usually **five to seven years**, depending on jurisdiction—we securely erase or anonymise records wherever law permits. ### Actions available to you 1. **Withdraw assets and close positions** — transfer funds away and settle any open trades. 2. **Cease using the service** — sign out, uninstall the application, and clear browser data. 3. **Opt out of marketing messages** — click “unsubscribe” in any Backpack email. 4. **Request a review** — if you believe special circumstances apply, contact us; we assess each request individually and may deactivate certain functionality on a case‑by‑case basis. Your account will remain inactive, and all retained data will continue to be stored securely with restricted access. *** ### How to Contact Us If you have any concerns about your data or wish to inquire further about account closure or deactivation options, please reach out to us via the following channels: * **Email**: * **Live** **Chat**: and click on the chatbot in the lower right hand portion of your screen. *** *All requests are reviewed individually and carried out in accordance with data‑protection laws and our internal compliance standards. Your information is protected, held only for the legally required period (generally 5–7 years), and never processed beyond legitimate business or regulatory purposes. To learn more about your rights—including access, restriction, or objection—please see our Privacy Policy.* # Account Functions # Account Function Guide # How to View Your Account Information? ### **How can I view my username?** * After logging into your exchange account, click on your account in the top right corner to see the KYC name you registered with.
* If you would like to view your **account alias**, go to **Settings** → under the **Account** tab → **Leaderboard**, where you will find your alias, and the alias of the account that referred you.
*** ### **How can I change my account name?** The name of the **main account cannot be changed**. \ Only sub-account nicknames can be customized. To change it: * Navigate to the sub-account. * Click **Portfolio**, then click **Edit**.
* Enter your desired nickname and click **Save**.
*** ### **How can I check my fee tier?** * Go to **Settings** → under the **Account** tab → **Fees**, where you can view your current spot and futures fee tier. * Fee tiers are determined based on your trading volume over the past 30 days. Please refer to the [fee schedule](/exchange/trading/trading-fees) for more details.
*** ### **How can I view my account balance sheet?** * After logging into your exchange account, go to **Portfolio** → under the **Account Overview** tab → click **Balance**, then click **Statements**. * Here you can view details such as assets, liabilities, and net equity for the sub-account.
*** ### **How can I check my recent trading volume?** * After logging into your exchange account, go to **Portfolio** → click **Performance**. * Select the item you want to view, check **Cumulative**, and choose the time range to see your trading volume.
### **How can I change the display language of the platform?** Log into your exchange account → go to **Settings** → under the **Account** tab → **Preferences**, then select your preferred display language.
*** ### **How can I manage my notification settings?** * **Order Notifications**: When enabled, you will receive order notifications at the bottom right of the page, including successful order placements and executions. * **Audio Alerts**: When enabled, an audio notification will play after certain events. * **Mask Balances & Info**: When enabled, balances and account details (such as your email address) will be masked. * **Market Close Confirmation**: * If disabled: A market order will close your entire position without asking for confirmation. * If enabled: You can customize the quantity to close and view the expected PnL. * *Note: Positions with a notional value above $100,000 will always require confirmation.* * **Show Funding Rates Ticker**: When enabled, the funding rates ticker will be displayed at the bottom of the trading page. {% hint style="info" %} **Hover your mouse over the tooltip to view a detailed explanation of the term on the page.** {% endhint %}
*** ### **How can I hide my trading activity from the leaderboard?** Log into your exchange account → go to **Settings** → under the **Account** tab → **Leaderboards**, and enable **Visibility**. Once enabled, your activity will be hidden from the leaderboards.
*** ### **How can I add my contact information?** If you would like to receive important updates or exclusive benefits: * Log into your exchange account → go to **Settings** → under the **Account** tab → **Contact Info,** click **Edit.**
* Select a social contact platform, enter your username or phone number, and click **Save**.
# How to Set Preferences and Notifications? ### **How can I change the display language of the platform?** Log into your exchange account → go to **Settings** → under the **Account** tab → **Preferences**, then select your preferred display language.
*** ### **How can I manage my notification settings?** * **Order Notifications**: When enabled, you will receive order notifications at the bottom right of the page, including successful order placements and executions. * **Audio Alerts**: When enabled, an audio notification will play after certain events. * **Mask Balances & Info**: When enabled, balances and account details (such as your email address) will be masked. * **Market Close Confirmation**: * If disabled: A market order will close your entire position without asking for confirmation. * If enabled: You can customize the quantity to close and view the expected PnL. * *Note: Positions with a notional value above $100,000 will always require confirmation.* * **Show Funding Rates Ticker**: When enabled, the funding rates ticker will be displayed at the bottom of the trading page. {% hint style="info" %} **Hover your mouse over the tooltip to view a detailed explanation of the term on the page.** {% endhint %}
*** ### **How can I hide my trading activity from the leaderboard?** Log into your exchange account → go to **Settings** → under the **Account** tab → **Leaderboards**, and enable **Visibility**. Once enabled, your activity will be hidden from the leaderboards.
*** ### **How can I add my contact information?** If you would like to receive important updates or exclusive benefits: * Log into your exchange account → go to **Settings** → under the **Account** tab → **Contact Info,** click **Edit.**
* Select a social contact platform, enter your username or phone number, and click **Save**.
# Sub-accounts ### Why Create a Sub-Account? Sub-accounts give you more control by keeping funds seperate. They’re ideal if you want to manage different strategies, or capital without everything tied to one account. Creating sub-accounts allows you to: * **Separate risk.** Losses or positions in one sub-account won’t affect funds over into others. * **Run multiple strategies.** Trade different approaches or portfolios independently. * **Move funds easily.** Transfer between your main account and sub-accounts for clear, simple capital management. Sub-accounts help you **trade smarter and safer** by keeping activities organized and risks contained. ### How to Create a Sub-Account? 1. Log into your exchange account, click the account icon in the top right corner, then click **“Add Subaccount.”**
2. Create a username and click **“Add Subaccount”** again to save.
### Frequently Asked Questions
How many sub-accounts can I create? Each account currently supports up to **10 sub-accounts**.
Can I set different permissions for each sub-account? **Yes.** Each sub-account can be configured independently with different settings, such as: * Maximum leverage multiplier * Whether to enable auto-lending * Whether to enable notifications
How to transfer funds between sub-accounts? Are there any fees? * **No fees for transfers between sub-accounts.** * Log into your exchange account, click the account icon in the top right corner, then click the **three dots** next to the account and select **Transfer In** or **Transfer Out.**
* Choose the corresponding token, verify the source and destination accounts, and then click **“Transfer.”**
Can sub-accounts withdraw funds directly? **Yes.** Each sub-account has its own deposit and withdrawal addresses, and users can deposit to or withdraw from a specific sub-account individually.
Do sub-account trading volumes count toward VIP level or fee discounts? **Yes.** The trading volume from sub-accounts is aggregated with the main account and contributes to overall VIP tier and fee benefits.
Can each sub-account have separate API keys? **Yes.** Sub-accounts can generate and manage their own API keys for trading and data access, with restrictions set by the main account.
Can I export trading records and reports for sub-accounts separately? **Yes.** Each sub-account has its own transaction history and report export function, which can be useful for auditing, accounting, or internal management.
# Convert Dust to USD Convert Dust helps you clean up your account, optimize fund usage, and manage your assets more efficiently. ### What is Dust？ **“Dust”** refers to very small balances of cryptocurrencies left in your account after trading, fee deductions, or airdrops. These small amounts are usually too small to be traded or withdrawn individually. ### How to Convert Dust to USD？ * Log into your exchange account and go to **Portfolio**. On the assets page, click **“Convert Dust.”**
* In the pop-up window, click **“Convert.”**
# Export Statements Download your account history as CSV files for reconciliation, portfolio analysis, auditing, tax reporting, or record keeping. The **Statements** page allows you to generate different types of reports from a single location. Depending on your needs, you can export account statements, balance snapshots, ledger records, or trade history for one or multiple subaccounts. *** ## Overview ### What can I export? Backpack supports four export types, each designed for a different purpose. | Export Type | Best For | Includes | | --------------------- | ---------------------------- | ------------------------------------------------------------------------------------------------------------------------------ | | **Account Statement** | Account reconciliation | Opening and closing balances with summarized balance changes during the selected period | | **Balances** | Portfolio snapshots | Asset balances at a specific point in time | | **Ledger** | Tax reporting and accounting | Complete account activity, including trades, deposits, withdrawals, funding, realized PnL, interest, and other balance changes | | **Trades** | Trading history | Detailed records of all filled orders | ### Common use cases You can use exported reports to: * Reconcile account balance changes * Analyze trading performance and realized PnL * Review funding payments and interest income * Import records into tax software such as **Koinly** * Audit API trading activity * Maintain your own trading records *** ## Choose the Right Report ### Account Statement Use this report if you want to understand **how your account balance changed** over a selected period. It summarizes opening and closing balances and categorizes all balance changes, making it easy to verify that your account activity reconciles correctly. Typical uses include: * Monthly account reconciliation * Balance verification * Financial reporting *** ### Balances Use this report if you need to view your portfolio at a specific point in time. The report includes available balances, locked funds, borrowed assets, lent assets, staked assets, and their estimated USD values. Typical uses include: * Portfolio snapshots * Asset allocation review * Collateral verification *** ### Ledger Use this report when you need a complete record of account activity. The Ledger report is specifically designed for accounting and tax workflows and is compatible with third-party tax platforms such as **Koinly**. It includes events such as: * Trades (spot and stock buys and sells) * Deposits * Withdrawals * Funding payments * Interest * Realized PnL * Rewards * Liquidations * Other account balance changes Note: individual perpetual futures fills are not listed as separate rows. Perpetual trading activity is reflected through funding payments, realized PnL, and fees. Use the **Trades** report if you need each perpetual execution. *** ### Trades Use this report when you need detailed execution history. Each filled order is exported individually, including execution price, quantity, fees, maker/taker status, and order identifiers. Typical uses include: * Trading strategy analysis * Performance review * Fee calculation * Execution auditing *** ## Export a Report 1. **Sign in** to your Backpack account, click your **profile avatar**, and select **Settings**.
2. Open the **Statements** tab.
3. Select an **Export Type**, choose a **Subaccount**, and specify a **Date Range**. If you're exporting a **Ledger** report, also select a **PnL Detail** option.
4. Click **Download CSV**. Your report will be generated and downloaded as a CSV file.
*** ## Export Options ### Export Type Choose one of the following report types: * Account Statement * Balances * Ledger * Trades A brief description is displayed after selecting each option to help you choose the correct report. *** ### Subaccount You can export data for: * **All Subaccounts** (combined export) * **A specific Subaccount** When exporting all subaccounts, each record includes the corresponding subaccount name and ID. *** ### Date Range Choose a preset period (**This month**, **Last month**, **Last quarter**, or **YTD**), or select **Custom** to pick any start and end date using the date picker. To clear a custom range, click **×** next to the date field. *** ### PnL Detail (Ledger only) When exporting a **Ledger** report, you can choose how realized PnL records are presented. | Option | Recommended For | Description | | ------------- | -------------------------- | ---------------------------------------------------------------------------------------------------- | | **Per event** | Auditing and tax reporting | Every realized PnL event is exported as an individual record. | | Aggregated | Portfolio review | Collapses realized PnL into one row per position per day; liquidations aggregate into their own row. | *** ## File Format #### File format * CSV (UTF-8 encoding) * Comma-separated values #### Timezone All timestamps are exported in **UTC**. Most reports use the following format: ``` YYYY-MM-DD HH:MM:SS UTC ``` Some fields use ISO 8601 format, for example: ``` 2026-06-15T04:04:21.157+00:00 ``` ### File naming Exported files follow this format: ``` {ExportDate}_{Subaccount}_{ReportType}_{StartDate}_{EndDate}.csv ``` Examples: ``` 20260730_main_balances_2026-07-01_2026-07-30.csv 20260730_main_account_statement_2026-07-01_2026-07-30.csv 20260730_api_test_trades_2026-06-01_2026-06-30.csv 20260730_api_test_ledger_2026-06-01_2026-06-30.csv ``` *** ## :warning:Important Notes * **Balance snapshots are not real-time** Balance snapshots are generated approximately every **10 minutes**. The exported timestamp represents the latest available snapshot at or before your selected time. As a result, it may be slightly earlier than the exact time you selected. * **All timestamps use UTC** All exported timestamps are in **UTC**. If you're comparing exported data with local records, convert the timestamps to your local timezone. * **Exported files do not include identity information** CSV exports contain account activity only. They do not include your name, identity verification information, or other personal details. If identity verification is required for tax reporting or auditing, you may need to provide additional supporting documents. * **Recently completed activity may not appear immediately** Newly completed trades, deposits, withdrawals, or transfers may take a short time to appear in exported reports. If your exported data does not match your current account status, wait a few minutes and export the report again. * **Keep your exported files secure** Exported reports contain sensitive financial information. Store and share them carefully to help protect your account data. *** ## Frequently Asked Questions
Which report should I export? Choose the report based on your purpose: * **Account Statement**: Balance reconciliation * **Balances**: Portfolio snapshots * **Ledger**: Tax reporting and accounting * **Trades**: Filled order history
Can I use the Ledger report for tax reporting? The **Ledger** report is specifically designed for accounting and tax workflows and can be imported into platforms such as **Koinly**. However, Backpack does not calculate tax liabilities, cost basis, or tax reports. You are responsible for determining your tax obligations and should consult a qualified tax advisor if needed.
Why doesn't the Balance timestamp exactly match the time I selected? Balance reports are generated from periodic snapshots rather than real-time queries. The exported timestamp represents the latest snapshot available at or before your selected time.
Can I export all subaccounts together? Yes. Select **All Subaccounts** to export combined data from every subaccount. Each record includes the corresponding subaccount name and ID.
What timezone is used? All exported timestamps use **UTC**.
Why doesn't my exported report match my current account balance? Exports may not immediately reflect the latest account activity. If you recently completed a trade, deposit, withdrawal, or transfer, wait a few minutes and export the report again.
Why can't I open the CSV file correctly? CSV files are exported using **UTF-8 encoding**. If text appears garbled in spreadsheet software, import the file using UTF-8 encoding instead of opening it directly.
Why can't I find a transaction in my export? Check that: * You selected the correct report type. * The transaction falls within the selected date range. * The correct subaccount is selected. Some account activities appear in the **Ledger** report rather than the **Trades** report. Individual perpetual futures fills appear in the **Trades** report only; the **Ledger** reflects perpetual activity through funding payments and realized PnL.
What's the difference between the Ledger and Trades reports? The **Trades** report contains only filled order executions. The **Ledger** report contains all account activity, including trades, deposits, withdrawals, funding payments, interest, realized PnL, rewards, and other balance changes.
Are API trades included? Yes. Trades executed through the API are included in exported reports, provided they fall within the selected date range and subaccount.
Can I export unfilled or cancelled orders? No. The **Trades** report only includes **filled executions**. Orders that were cancelled, expired, or never executed are not included.
Is there a limit on how much historical data I can export? Backpack supports custom date ranges. There is no date-range limit for CSV exports. Very large exports are capped by row count, and a warning row is appended to the file if the cap is reached.
# Sell Your FTX International Claim via Backpack Exchange ### Overview Backpack Exchange has partnered with an independent institutional buyer to facilitate the purchasing of eligible FTX International bankruptcy claims through our platform. This service allows you to sell your claim and receive USDC directly in your Backpack Exchange account. We have put together the following FAQs based on information provided to us by FTX Creditors. Kindly note that Backpack, however, is not affiliated with FTX Creditors and the FTX Creditors portal is solely provided by Backpack as a convenience for our users. We have no discretion, control or authority over FTX Creditors and how they adjudicate or pay out claim holders. *** ### Before You Start #### Eligibility Requirements * Valid FTX International bankruptcy claim * Access to your [claims.ftx.com](https://claims.ftx.com/) credentials * Claim Amount > $500 * Backpack Accounts with Verified KYC * Government-issued photo ID * Proof of address (dated within 90 days) * Additional documentation may be required for larger claims #### What You'll Need Ready * Email and password for [claims.ftx.com](https://claims.ftx.com/) * Access to your 6-digit OTP authenticator app (required for automated process) * Required documents (listed above) * Active Backpack Exchange account ⚠️ **Important:** 1. To use the automated claims process, please switch to an authenticator app (e.g., Google Authenticator). 1. Log in to your FTX account and to to '**My Account'** → Click '**Settings'** (top-right corner).
2. Select '**Switch Device'** → Choose '**Switch to Authenticator'.**
3. Follow the prompts to enter your old and new 2FA codes, then submit.
\ ⚠️ **Note:** If you currently use email-based 2FA for [claims.ftx.com](https://claims.ftx.com/) , you'll need to switch to an authenticator app to use the automated claims buying process. 2. Before accessing the claims page, please disable any auto-translation plugins. *** ### Step-by-Step Process #### Step 1: Access the FTX Claims Portal 1. Log in to [Backpack Exchange](https://backpack.exchange/) (web version) 2. Navigate to **FTX Claims** in the top menu * Or go directly to: #### Step 2: Authenticate Your Claim 1. Enter your [claims.ftx.com](https://claims.ftx.com/) credentials: * Email address * Password * 6-digit OTP from your authenticator * Email-based 2FA is not supported. Please switch to an authenticator app on claims.ftx.com first. 2. Accept both required consents: * You accept the buyer's Terms of Service & Privacy Policy * You acknowledge that the claims buyer is an independent third party not affiliated with Backpack #### Step 3: Review Your Claim Summary Check your claim status: * **Bid Received** → Total offer amount will be displayed * **Awaiting Offer** → You'll receive an email notification when ready #### Step 4: Accept the Bid Review the offered amount and click **Accept** if you're satisfied with the price. #### Step 5: Complete KYC Verification When prompted, click **Complete KYC Verification** and upload the following in the secure Sumsub window: **Required Documents:** * Government photo ID * Live selfie * Proof of address (≤90 days old) * Additional documentation may be required for larger claims After submitting your documents, you'll receive an email notification confirming the status of your KYC verification. #### Step 6: **Complete and Submit IRS Form** * Click '**STEP 7'** to generate tax forms (*this option will not be checked for users who have not submitted*).
* Fill out the form as prompted. ⚠️ **Note:** If a user fails to submit the required documents within **60 days** of the second notice to submit it, the debtor *will* attempt to expunge their claim as this is part of the *Pre Distribution Requirements* #### Step 7: Sign Transfer Agreement Complete the DocuSign Claim Transfer Agreement that will be emailed to you. #### Step 8: Receive Payment After the buyer countersigns the agreement, USDC will be deposited directly into your Backpack Exchange account. You can trade or withdraw instantly. *** ### Processing Timeline | Claim Amount | Processing Time | | ------------------- | -------------------------------------------------------------- | | **Standard Claims** | Usually within 24 hours from document signing | | **Larger Claims** | May require additional verification and take longer to process | *** ### Troubleshooting #### Common Issues * **Can't access claims.ftx.com?** Ensure you're using the correct email and that your OTP authenticator is working * **Account locked after failed login attempts?** Repeated incorrect passwords will trigger a cooldown period on claims.ftx.com. You'll need to wait for the lockout period to expire before trying again. * **Documents rejected?** Check that all documents are clear, recent (≤90 days for address proof), and match your identity * **Payment delayed?** Larger claims may require additional verification and take longer to process * **Experiencing errors?** Please disable any Google Translator plugins or browser translation features before starting the claims process. These can interfere with the portal and cause errors. Make sure to use the site in its original English version. * **Do NOT click the login confirmation email from claims.ftx.com.** Since the login process is handled on your behalf, clicking that email link will cause authentication errors and prevent you from accessing your claim. Simply ignore these confirmation emails during the claims selling process. * If you encounter an error during the process, wait **20 minutes** before retrying until you successfully proceed to the '**Email Verification Required'** page (or the next step).
* When forwarding emails, **do not click any links** or the '**Reset & Continue'** button. Simply forward the email and **wait patiently** for the page to auto-refresh (this may take up to **20 minutes**).
* **Document Upload Requirements:** * **Identity Verification:** Only a **valid passport** is accepted. * **Proof of Address:** A **credit card statement** is preferred. * **KYC Verification:** Ensure both your **computer and mobile device** are on the **same network** if used simultaneously. * If the page displays '**Manual Review in Progress'**, please wait patiently and monitor your email for updates.
* If you see '**Offer Acceptance Failed'** or '**Claim Denied'**, contact **Backpack Support** and provide your **FTX account** and **claim code**.
*** ### Frequently-asked questions We have put together the following FAQs based on information provided to us by FTX Creditors. Kindly note that Backpack, however, is not affiliated with FTX Creditors and the FTX Creditors portal is solely provided by Backpack as a convenience for our users. We have no discretion, control or authority over FTX Creditors and how they adjudicate or pay out claim holders.
Who is eligible to use this service? Users who have registered on **claims.ftx.com** and hold a valid FTX International claim may proceed.
FTX Users Opting for the Bahamas Liquidation Process? If you wish to transfer your FTX claim payout assets to Backpack Exchange, you may also apply to sell your claim. Please follow the steps below: 1. **Submit a Request:** * Email [**claims@ftxcreditor.com**](https://mailto:claims@ftxcreditor.com/) and CC [**support@backpack.exchange**](https://mailto:support@backpack.exchange/). 2. **Provide Required Details:** * Include your **Backpack Exchange ETH mainnet deposit address** as the designated recipient for the payout. 3. **Follow Instructions:** * Proceed with the next steps as outlined in the reply to your email.
Which documents do I need to provide during KYC? A government ID, live selfie, proof-of-address dated within 90 days. Additional documentation may be required for larger claims.
Are claims for corporate entities eligible for sale? No - only individual (natural-person) claim holders are eligible
My account is locked after failed login attempts. What should I do? Repeated incorrect passwords will trigger a cooldown period on claims.ftx.com. You'll need to wait for the lockout period to expire before trying again.
I'm experiencing errors during the claims process. What should I check? Please disable any Google Translator plugins or browser translation features before starting the claims process. These can interfere with the portal and cause errors. Make sure to use the site in its original English version.
How can I determine the value of my FTX International claim before I start? Use the customer-code lookup inside the FTX Claims portal; it returns an estimated face value based on court records.
My claim is under USD 10 000 — what options do I have? Small claims may still accepted, but the buyer may offer a lower price or bundle them for efficiency.
Why is my claim marked “Disputed” or “Contingent” and can I still sell it? These labels come from the bankruptcy schedules. You can still apply, but the buyer may request extra documentation before making an offer.
Do I pay any platform fees to Backpack? No — Backpack charges nothing. We do not take any fees whatsoever and the services are provided solely as a convenience for our users.
What currency will I receive after the sale closes? **USDC** credited to your Backpack Exchange account.
Can I receive fiat instead of USDC? No. Once the USDC is credited to your Backpack account, you can withdraw USDC or send a USD wire from your Backpack Exchange account.
How long does settlement take once I’ve signed the agreement? Generally, based on information provided to us, most claims are within 24 hours from document signing. Larger claims may require additional verification and take longer to process.
Can I sell only part of my claim? Not at present — only sales of the full claim amount are supported.
What happens if my KYC submission is rejected? You’ll receive instructions to resubmit clearer images or alternate ID.
**Still have questions?** Visit the in‑depth **FTX Creditor FAQ** for additional details: [https://www.ftxcreditor.com/faq](https://support.backpack.exchange/technical-docs/vn/) *** ### Need help? **Email**: # Security # Email # How to update my account email? At Backpack Exchange, protecting your account security is our top priority. To change your email address, please follow the steps below and submit the required information to [**support@backpack.exchange**](mailto:support@backpack.exchange). **Please note:** Email changes typically take **2–4 business days** to complete. *** ### **How to Change Your Backpack Exchange Account Email** 1. **Send an email to Customer Support** * In the subject line, enter **“Email Change”**, **“Change Email”**, or similar. * If you do not receive a reply from Support within 48 hours, please send a follow-up email. 2. **Complete Sumsub Verification** * After receiving a reply from Support, you will be provided with a Sumsub verification link. * Access the link and complete the identity verification process. 3. **Reply to the email and submit the required identity information** * The information you need to provide includes, but is not limited to: **Name and Address Confirmation** * Please provide your full legal name and current residential address associated with your Backpack Exchange account. **Source of Income** * Please provide your primary source of income or occupation details for identity verification. **Transaction Details** * Provide as much detail as possible about your account transactions, including (but not limited to): * Transaction dates * Asset names * Asset amounts * Transaction hashes or IDs The “Transaction Details” can be checked by entering the wallet address at[ ](https://solscan.io/)[Solscan.io](http://solscan.io). *** #### **Review Process** * Once we receive your information, your account will be placed under a **48-hour security freeze**. * During this period, we will carefully review and verify your information to ensure account security. * After the review is approved and the security freeze period has ended, we will proceed with changing your email address. *** #### **Contact Support** If you have any questions or need further assistance, please contact Backpack Support at [**support@backpack.exchange**](mailto:support@backpack.exchange).\ We will guide you through the entire process to ensure a smooth and secure experience. Backpack Exchange is committed to maintaining the **security and integrity** of your account. Thank you for your understanding and cooperation! # Troubleshooting Missing Backpack Emails 1. **Ensure network connectivity.** * Please make sure your internet connection is stable. * In some regions, a global VPN may be required. 2. **Check your spam or junk folder.** * Then add the verification email address **** to your whitelist and try again. 3. **Check if you are using a decentralized email (e.g., Dmail).** * Due to differences in architecture and protocols, such email services may sometimes be misclassified or incompatible with certain platforms’ mail systems. * If this is the case, we recommend following these steps to [update your email address.](/exchange/security/email/how-to-update-my-account-email#how-to-change-your-backpack-exchange-account-email) **If you cannot resolve OTP issues after verifying the above solutions please reach out to Support via ** # 2FA # Enable 2FA 🔐 Enabling 2FA is one of the most effective ways to keep your account and funds safe. We strongly recommend activating 2FA immediately after registration. 1. Log into your exchange account, click the **Settings** button in the top right corner, and select **Security**.
2. Under the **2FA** section, click **Enable**, then enter the one-time passcode (OTP) sent to your registered email and click **Submit**.
3. Scan the QR code with an authenticator app (e.g., Google Authenticator), then enter the **Verification Code** in the field below and click **Verify**.
:tada:Setup complete! # Fixing Google Authenticator Code Errors The most common fixes for OTP (One Time Pass) code issues: 1. Look for OTP code in your 2FA app **(not email)**. 2. Sync your 2FA app device and Exchange login device to **the same timezones.** 3. Do you have **multiple 2FA apps** downloaded? Make sure you're checking in the correct one. **If you cannot resolve OTP issues after verifying the above solutions please reach out to Support via ** # Reset 2FA To reset your 2FA, please follow the steps below and submit the required information to ****. :warning:**Please note:** 2FA reset typically takes around **48 hours** to complete. *** 1. **Send an email to Customer Support** * In the subject line, enter **“2FA Reset”**, **“2FA Recovery”**, or similar. * **Important:** The reset request **must** be sent from the email address registered with your Backpack Exchange account. * If you do not receive a reply from Support within 48 hours, please send a follow-up email. 2. **Complete Sumsub Verification** * After receiving a reply from Support, you will be provided with a Sumsub verification link. * Access the link and complete the identity verification process. 3. **Reply to the email and submit the required identity information** * The information you need to provide includes, but is not limited to: **Name and Address Confirmation** * Please provide your full legal name and current residential address associated with your Backpack Exchange account. **Source of Income** * Please provide your primary source of income or occupation details for identity verification. **Transaction Details** * Provide as much detail as possible about your account transactions, including (but not limited to): * Transaction dates * Asset names * Asset amounts * Transaction hashes or IDs The “Transaction Details” can be checked by entering the wallet address at[ ](https://solscan.io/)[Solscan.io](http://solscan.io). *** **Processing** * Once you have completed the Sumsub verification and submitted all required information, Customer Support will begin processing your 2FA reset. # Passkey ### What is a passkey? A Passkey is a modern, passwordless sign-in method that uses your device to verify your identity. It replaces passwords with cryptographic keys and device authentication. ### How does a Passkey work? When you create a Passkey: * Your device generates a **public key** and a **private key** * The **public key** is saved by the exchange * The **private key** stays securely on your device or Passkey manager When you sign in, your device proves ownership of the private key without revealing it. ### Is using Passkey safe? Yes. Passkeys use industry-standard cryptography and are designed to be more secure than passwords while being easier to use. ### Frequently Asked Questions About Passkey
How do passkeys compare to passwords? Passkeys work differently than traditional passwords: * They are unique to each account and bound to your device. * They use biometric or PIN verification on your device instead of something you type. * Because of this, they are less vulnerable to phishing and credential reuse.
Which devices and browsers support passkeys? Passkeys are supported on most modern devices and browsers, including iOS, Android, Windows, macOS, and browsers such as Chrome, Safari, and Edge. Support may vary depending on your device and operating system version.
Can I use passkeys across multiple devices? / What if I login from a new device? * If your Passkey is synced with a cloud service (such as iCloud or 1Password), you can use it on all your synced devices. * If cloud sync is not enabled, you can add Passkeys separately on each device. Each device will have its own Passkey for secure login.
Do passkeys replace Two-Factor Authentication (2FA)? Passkeys can serve as a strong alternative to passwords and may reduce the need for 2FA in some cases. However, on certain high-security actions (e.g., withdrawals), additional 2FA may still be required.
Where are my passkeys stored? Passkeys are stored securely on your device and may be synced via trusted services such as iCloud Keychain (Apple) or Google Password Manager. They are never stored on the exchange’s servers.
What if my device is lost or stolen? If your device is lost, you can still log in using your backup login method (password + 2FA) and remove the lost device’s passkey from your account settings. For maximum security, update your account credentials immediately.
Can someone steal my passkey? Passkeys cannot be phished or copied like traditional passwords. Even if a someone has your account email, they cannot access your account without your registered device and biometric/PIN verification.
Can I turn off passleys after enabling them? Yes. You can disable Passkey at any time in your account security settings and revert to using your password + 2FA login method.
Are passkeys required for withdrawals? By default, Passkeys are used for login authentication. For withdrawals and other sensitive actions, additional verification (such as 2FA) may still be required for enhanced security.
# Enable Passkey ## Web | How to Enable Passkey #### **Before You Start** * Use a Passkey-supported browser (Chrome, Safari, or Edge) * Make sure device lock is enabled (Face ID, fingerprint, or PIN) * Choose a Passkey manager: * System built-in (e.g. iCloud Passwords) * Third-party (e.g. 1Password, with browser extension installed and unlocked) > **We recommend enabling cloud sync. It does not reduce Passkey security and helps prevent login issues when changing, resetting, or losing your device.** #### **Steps to Enable Passkey (Web)** 1. Log into your exchange account, click the **Settings** button in the top right corner, and select **Security,** under the **Passkey** section, click **Enable.**
2. Enter the **6-digit code** from your authenticator app linked to your account, and click **Add Passkey**.
3. Select your **browser’s password manager**, or set up your **device fingerprint or a PIN** to save your passkey for use on backpack.exchange.
4. Then follow the on-screen instructions based on your selected method. ## App | How to Enable Passkey #### **Before You Start** * Update the exchange app to the latest version * Use a device that supports Passkeys * Enable device lock (Face ID, fingerprint, or PIN) * Set up a Passkey manager: * iOS: iCloud Passwords * Android: Google Password Manager * Or a third-party app (e.g. 1Password)
#### **Steps to Enable Passkey (App)** 1. Log in to your exchange account, click your **profile icon**, then select **Settings**.
2. Go to **Security**, turn on **Require PIN/Face ID**, then click **Passkey Setup**.
3. Click **Continue**, enter the **6-digit code** from your authenticator app, and click **Submit**.
4. Click **Add Passkey** — setup completed.
# Reset Password If you’ve forgotten your password, don’t worry — resetting it is quick and easy. *** ### Step-by-Step Guide to Reset Your Password 1. **Access the Login Page** * Visit the Backpack Exchange login page. * If you can’t remember your password, click the **“Forgot Password”** link. 2. **Click on “Forgot Password”** * After clicking the link, you’ll be directed to a new page. 3. **Enter Your Email Address** * On the reset password page, enter the email address associated with your Backpack Exchange account. * Click the **“Next”** button. 4. **Check Your Email** * You’ll receive an email from Backpack Exchange with a reset link. * Open the email and click **“Reset Password.”** 5. **Follow the Prompts** * After clicking the link, you’ll be taken to a page to set a new password. * Choose a **strong password** that you haven’t used before. 6. **Access Your Account** * Return to the Backpack Exchange login page. * Sign in with your email and new password. *** :tada: **And that’s it!** You’ve successfully reset your password and can now continue using Backpack Exchange. 💡 **Tip:** Keep your password safe and consider using a **password manager** for secure storage. # Withdrawal Delay **Withdrawal Delay** adds a user-defined waiting period to withdrawals **sent to new external addresses**, giving you time to detect and stop unauthorized activity. *** ### Why Withdrawal Delay Is Needed？ Withdrawal Delay is a **last-line defense** against irreversible on-chain mistakes and unauthorized transfers. It creates a short, controlled window to **review, detect, and cancel** suspicious withdrawals **before** they are broadcast to the blockchain. **What it protects you from** * **Human error:** Typos or copy-paste mistakes when sending to a **new external address**. * **Clipboard hijacking/malware:** Malicious software replacing the intended address with an attacker’s. * **Account misuse:** Unauthorized withdrawals initiated by someone who obtained your credentials. *** ### **How To Enable Withdrawal Delay？** 1. Go to **Settings**. * Open the **Security** tab. * In the **Withdrawal Delay** row, click **Enable**.
2. Choose a delay duration from the dropdown, then click **Change**.
3. Complete verification: * Enter the **Email verification code**. * Enter the **Authenticator app code**. * Click **Submit**.
4. :tada:All set! * When you initiate a withdrawal, you’ll see a notice at the bottom of the page confirming that **Withdrawal Delay** is enabled on your account.
*** ### Scope & Applicability * **Applies to:** * Withdrawals **to external wallet addresses** that are **not yet saved** in your **Address Book**. * **Does not apply to:** * **Internal/subaccount transfers** (processed immediately). * Withdrawals to addresses that have already been in your Address Book **longer than the current delay**. > **Definition — “New address”**\ > Any external address **not present** in your Address Book at the time you submit the withdrawal, or saved **more recently** than your configured delay duration. *** ### How It Works (execution flow) 1. **Submit withdrawal** to an external address. 2. **Eligibility check:** * If the address is **new** (see definition above) → withdrawal is **scheduled** and held until the delay expires. * If the address has been saved **longer** than your current delay → withdrawal is **processed immediately**. 3. **Countdown:** A timer (e.g., “Scheduled for YYYY-MM-DD HH:mm UTC”) is shown in [**Withdrawal History**](https://backpack.exchange/portfolio/transfers/withdrawals). 4. **Completion:** Once the delay elapses, the withdrawal is automatically released to the network. *** ### Best Practices * **Pre-save** payout addresses and let them age past your delay to avoid operational friction. * Combine with [**Address Whitelisting**](/exchange/deposit-and-withdraw/crypto/withdrawals/travel-rule#adress-book) for layered protection. * Keep [**Email & 2FA** factors secure](/exchange/security); review [**Withdrawal History**](https://backpack.exchange/portfolio/transfers/withdrawals) regularly. *** ### How To Change Your Delay Duration？ Simply repeat the initial setup steps: go to **Settings**, open the **Security** tab, find **Withdrawal Delay**, click **Enabled**, and then follow the on-screen instructions.
:warning:**Please note：** * When you **change** the delay duration, the **new value takes effect only after the currently active delay window expires**. * Existing scheduled withdrawals keep their original release time. * Future withdrawals use the new delay once it becomes active. **Example：**If you change the delay from 24h to 12h while a 24h delay is active, the new 12h setting takes effect only after the current 24h window ends. *** ### Address Book * **Add Address:** * You’ll receive an email notification confirming the addition. * The **“age”** of the address starts at the moment it’s saved.
* **Withdrawals to Saved Addresses:** * If the address has been in the Address Book **longer than your current delay**, the withdrawal is **immediate**. * **Editing/Removing Addresses:** * Removing and re-adding an address makes it **new** again (its age resets). *** ### :warning:Urgent Withdrawals If you must move funds while a delay is active (e.g., operational urgency), please use the email address linked to your exchange account to contact **** and request the delay cancellation. Our team will verify ownership and assess options. *** ### FAQs
What happens if I shorten my delay right after scheduling a withdrawal? The scheduled withdrawal keeps its original release time. Your new, shorter delay applies only after the current delay window ends.
If I add an address and immediately withdraw to it, does the delay apply? Yes. The address must be saved **longer than your configured delay** to qualify for immediate processing.
Do API withdrawals follow the same rules? Yes. Withdrawals created via API are subject to the same delay checks and notifications as the UI.
Does the delay affect fees or network confirmation time? No. The delay pauses **before** broadcast. Once released, normal network fees and confirmation times apply.
Can I cancel a scheduled withdrawal during the delay? In this case, please use the email address linked to your exchange account to contact **** and request the delay cancellation.
# I Suspect Unauthorized Access to My Account ### What to Do 1. **Change Your Password Immediately** * Log in and go to **Settings**. * Update your password with a strong, unique combination. * Visit [Backpack Exchange](https://backpack.exchange/settings/security).
2. **Enable Two-Factor Authentication (2FA)** * If not active, go to **Security Settings**. * Set up 2FA using a reliable app like Google Authenticator. 3. **Review Account Activity** * Check your transaction history for unfamiliar actions or transactions. * Contact us at **** with details of your concerns. * Include any unusual activity you’ve noticed. *** ### Recognize and Avoid Phishing Attempts To safeguard your Backpack Exchange account, it’s crucial to recognize and prevent phishing attempts. Follow these steps: 1. **Verify the URL** * Always ensure you’re accessing the official site: [https://backpack.exchange](https://backpack.exchange/). * Double-check the URL before entering any credentials. * *Note:* [*Official links to all Backpack Exchange and Backpack Wallet channels are located here.*](https://backpack.app/) 2. **Beware of Unsolicited Communications** * Be cautious with suspicious emails or messages claiming to be from Backpack Exchange. * We will **never** ask for your password or 2FA codes. * If anyone asks for them, they are a scammer. 3. **Examine Email Senders** * Double-check the sender’s email address. * Phishers may use addresses that look similar but with small alterations. 4. **Avoid Clicking on Suspicious Links** * Do not click on links or download attachments from unknown sources. * Hover over links to preview the destination URL before clicking. 5. **Report Suspicious Activity** * If you encounter anything suspicious related to Backpack Exchange, contact **** immediately. *** #### 🔒 Reminder Your online safety is vital. By staying informed and cautious, you can protect your account and assets from potential threats. # Troubleshoot Connectivity Issues ## Troubleshoot connectivity issues ### **1. Check the Backpack Exchange's official channels** * Visit Backpack Exchange's [social media](https://x.com/Backpack), it is the [official announcement channel](https://discord.gg/backpack) if there are any reported outages or scheduled maintenance.\ ‍ * Verify the status of Backpack Exchange using the [official status tracker](https://status.backpack.exchange/).
### **2. Refresh your browser** * Sometimes, a simple refresh can solve minor connectivity hitches. ### **3. Clear browser cache and cookie** * Accumulated cache and cookies might cause outdated data or glitches. Clear them to potentially resolve connectivity issues. (Refer to our guide on "**How to clear browser cache and cookies**" for step-by-step instructions.) ### **4. Try a different browser or device** * Switch to another browser to see if the issue persists. This can help determine if the problem is browser-specific.\ ‍ * If possible, try accessing Backpack Exchange from another device. ### **5. Check your internet connection** * Ensure you have a stable internet connection. You can check this by visiting other websites or using online speed tests.\ ‍ * Consider restarting your router or contacting your Internet Service Provider (ISP) if you suspect connectivity issues on their end.\ ‍ **If, after trying the above steps, you still face connectivity issues, reach out to us at** [**support@backpack.exchange**](mailto:support@backpack.exchange) **for further assistance.**\ **‍** We're here to help ensure you have a seamless trading experience. *** ## **How to clear browser cache and cookies** To clear your browser cache, follow the steps below for your browser. ### **Google Chrome:** * Click the three dots (or vertical ellipsis) in the top right corner. * Select "More tools" > "Clear browsing data." * Choose "Cookies and other site data" and "Cached images and files." * Click "Clear data." ### **Mozilla Firefox:** * Click the three horizontal lines (hamburger icon) in the top right corner. * Select "Options" > "Privacy & Security." * Under "Cookies and Site Data," click "Clear Data." * Ensure both "Cookies and Site Data" and "Cached Web Content" are checked, then click "Clear." ### **Microsoft Edge:** * Click the three dots in the top right corner. * Choose "Settings" > "Privacy, search, and services." * Under "Clear browsing data," click "Choose what to clear." * Select "Cookies and other site data" and "Cached images and files," then click "Clear now." ### **Safari (Mac):** * Click "Safari" in the top left menu, then select "Preferences." * Go to the "Privacy" tab and click "Manage Website Data." * Click "Remove All" and confirm. *** ## My Backpack Wallet screen is not loading If your Backpack Wallet shows a blank screen or won’t load, try the following steps: ### Extension * Make sure the extension is updated to the latest version. * Turn the extension off and back on in your browser’s extension menu. * If the issue continues, reinstall the extension. > ⚠️ Before reinstalling, ensure that your **Seed Phrase** or **Private Keys** are saved and available so you can re-import your wallets. ### Mobile * Check that the app is updated to the latest version. * Force close the app and re-open it (you may need to try this multiple times). * If the issue continues, reinstall the app. > ⚠️ Before reinstalling, ensure that your **Seed Phrase** or **Private Keys** are saved and available so you can re-import your wallets. # Deposit and Withdraw # Crypto Crypto deposits and withdrawals on Backpack Exchange are processed directly on-chain. * **Withdrawals**: transfer assets from your Backpack Exchange account to an external blockchain address of your choice. * **Deposits**: bring assets from an external wallet into your Backpack Exchange account. You can always check the **minimum deposit and withdrawal amounts** for each supported asset on the [Market Info Assets page](https://backpack.exchange/market-info/assets). This helps prevent failed transactions caused by sending amounts below the required threshold. > ⏳ **Note on confirmations:** Deposits require a certain number of blockchain confirmations before they appear in your account. # Deposit # How to Deposit? #### Common Deposit Assets and Supported Networks | Asset | Supported Deposit Networks | | -------- | ------------------------------------------------------------------------ | | **USDC** | Solana, Ethereum, SUI, Arbitrum, Base, Optimism, Polygon, Sei EVM, Aptos | | **USDT** | Solana, Ethereum, Tron | | **BTC** | Bitcoin, Solana (Coinbase BTC) | | **ETH** | Ethereum, Arbitrum, Base, Optimism | | **SOL** | Solana | ### :warning:**Important Notes** ### 1. Supported Stablecoin Deposits Backpack Exchange only supports **native stablecoin deposits** on their respective networks.\ Depositing the wrong version of a stablecoin may result in your funds not being credited. #### Example: Optimism Network On the Optimism network, Backpack only supports deposits of **USDT0** with the contract address: ``` 0x01bFF41798a0BcF287b996046Ca68b395DbC1071 ``` We do **not** support deposits of USDT with the contract address: ``` 0x94b008aA00579c1307B0EF2c499aD98a8ce58e58 ``` {% hint style="danger" %} If you deposit USDT (not USDT0) on Optimism, the funds will not be credited to your Backpack account. {% endhint %} {% hint style="info" %} **Note:** Backpack Exchange currently supports only native USDC on each supported network. Bridged or wrapped versions of USDC (such as USDC.e) are not supported. Depositing these versions may result in loss of funds or a lengthy recovery process, if recovery is possible. {% endhint %} ### 2. How to Avoid Deposit Errors Before making a transfer: 1. **Verify** the deposit address and network carefully 2. **Read** all notices and warnings displayed on the deposit page 3. **Contact** our official support team if you're unsure which network or token to use {% hint style="info" %} **Incorrect deposits may result in:** * ⚠️ Permanent loss of funds, or * ⏳ A lengthy refund process (if recovery is possible) {% endhint %} *** ### Deposit via Exchange wallet address #### 1. Open the Deposit menu
{% hint style="info" %} If you’re making a deposit on mobile, simply tap the **Deposit** button on the **Home** page or the **Portfolio** page. {% endhint %} #### 2. Choose the cryptocurrency you wish to Deposit Search for the token if you don't see it in list.
#### 3. Copy the wallet address
#### 4. Paste the address into your sending platform and initiate the transfer (from a non‑custodial wallet or exchange) *** ### Deposit via subaccounts #### 1. Open the Deposit menu
{% hint style="info" %} If you’re making a deposit on mobile, simply tap the **Deposit** button on the **Home** page or the **Portfolio** page. {% endhint %} #### 2. Choose the cryptocurrency you wish to Deposit
#### 3. Enter Deposit amount and **Select the 'From' sub-account and the 'To' sub-account.**
#### 4. Click the 'Transfer' button.
# Common Errors ### Common Deposit Issues
Depositing an unsupported asset If you send a token or use a blockchain network that Backpack Exchange doesn’t support, it will **not** be credited to your account. We will make a best effort to return these funds, but due to the complex nature of retrieval, **timelines cannot be guaranteed**.
Incorrect Deposit Address If you send funds to the wrong deposit address, they will usually be **lost** and are not retrievable. **No** exchange can recover assets sent to an unrelated or invalid address.
Missing or Incorrect Memo/Tag/Payment ID If you forget to include or enter an incorrect memo, tag, or payment ID, your deposit **may not be credited automatically.** We will make a best effort to recover the funds, but the process **requires time.**
Using the Wrong Blockchain Network If you send a token using the wrong blockchain network (e.g., USDT via TRC20 to an ERC20 address), your assets **may be lost** or require complex technical recovery. We will try our best to help you, but retrieval is **not guaranteed.**
Depositing Below the Minimum Amount If you deposit less than the minimum required amount, the funds will **not** be credited to your account. In most cases, these deposits **cannot** be refunded.
Depositing After Delisted Token/Network If you deposit a token or use a network that has already been delisted or suspended, the deposit will fail. We will try our best to help, but recovery is typically not possible.
Network Congestion or Incorrect Gas Fee If you send a deposit with too low a transaction fee, or during periods of network congestion, your transaction may be **delayed** or **fail to confirm**. Funds may arrive once confirmed, but **timing is uncertain.**
Depositing From a Smart Contract (If Unsupported) If you deposit from a smart contract address that Backpack Exchange does not support, the deposit **may fail.** We will try our best to help you, but recovery is **not always guaranteed.**
# Withdrawals # How to Withdraw? ### Withdrawing to a Wallet 1\. Open the **Withdraw** menu
2\. Choose the **cryptocurrency** you wish to withdraw and enter the **amount** {% hint style="info" %} **Note: If your available balance is insufficient, enabling margin will redeem outstanding lends or create a borrow to cover the withdrawal. If your balance is sufficient, enabling margin does nothing.** {% endhint %} 3\. Enter the **destination address** or open **'Address book'** and select address 4\. Click **“Continue”** and then enter your 'Email verification code' and 'Authenticator app code', select **Submit button**
### Transfers Between Sub-Accounts 1. Click **“Withdraw.”**
2. Under the **“Subaccounts”** tab, select the token you wish to transfer. 3. Enter the transfer amount. 4. From the dropdown menu, select the **source subaccount**. 5. From the dropdown menu, select the **destination subaccount**. 6. Click **“Transfer.”**
🎉 Done! Your funds will be credited shortly. # Withdrawal Fees For the minimum deposit and withdrawal amounts and withdrawal fees for different tokens, please refer to . # Address Book The **Address Book** is a feature designed to make crypto withdrawals more secure and convenient. It allows you to save frequently used wallet addresses and manage them within your account. ## Add an Address — Web #### 1. Go to **Settings** → **Address Book**, then click **Add Address**.
#### 2. Fill in the required fields: * select the sub-account * Set the label for the address * Enter a brief description (optional) * Paste your frequently used withdrawal address * Choose whether to enable **2FA for withdrawals** (recommended) #### 3. Click **Continue** to save.
🎉 Done! Next time you make a withdrawal, you can quickly select this saved address directly from your Address Book. *** ## Add an Address — Mobile #### 1. Tap your profile avatar, then tap **Settings**.
#### 2. Tap **Exchange**, scroll to the bottom, and tap **Address Book**.
#### 3. Select the network, tap **Add Address, f**ill in the required fields: * Set the label for the address * Enter a brief description (optional) * Paste your frequently used withdrawal address #### 4. Click **Add Address** to save.
🎉 Done! Next time you make a withdrawal, you can quickly select this saved address directly from your Address Book. # Travel Rule ### **Travel Rule** The Travel Rule is a global regulatory requirement issued by the Financial Action Task Force (FATF). It requires Virtual Asset Service Providers (VASPs), such as cryptocurrency exchanges, to share sender and recipient information when transferring digital assets above a certain threshold. This helps prevent money laundering, terrorist financing, and other illicit activities. **Why Does the Exchange Ask for Additional Information When I Withdraw?** Depending on the withdrawal amount and the destination, you may be asked to provide beneficiary details such as the recipient’s name or account reference. This information is required for Travel Rule compliance and ensures the security and transparency of crypto transfers. **Is My Personal Information Safe Under the Travel Rule?** Yes. All data collected for Travel Rule compliance is protected under strict data privacy and security standards. It is used **only** for regulatory compliance and will not be shared with unauthorized parties. # FAQs
How to transfers between exchange accounts? * The process is exactly the same as [Withdrawing to a Wallet](#withdrawing-to-a-wallet): simply paste the deposit address of the corresponding asset from the destination exchange. * **Please note:** Although a withdrawal fee may appear on the page during submission, the system will automatically determine whether the transfer is to another internal exchange address. If it is, the actual credited amount will incur **0 fees.**
How long does an on-chain withdrawal take? The processing time depends on: * The blockchain network selected (e.g., BTC, ETH, TRON). * The current level of network congestion. * The number of confirmations required by the receiving platform. Withdrawals may take from a few minutes to an hour to be received.
Why hasn’t my withdrawal arrived yet? Common reasons include: * The transaction is still waiting for blockchain confirmations. * Network congestion is delaying processing. * The receiving platform requires more confirmations before crediting funds. You can track your transaction using the provided **TxID (Transaction ID)** on a blockchain explorer.
What is a TxID and where can I find it? A TxID (Transaction ID) is a unique identifier for your withdrawal on the blockchain. You can find it in your withdrawal history on the exchange and use it to check transaction status on a blockchain explorer.
Can I cancel an on-chain withdrawal after submitting it? No. Once a withdrawal request has been processed and broadcast to the blockchain, it cannot be canceled or reversed. Please double-check all withdrawal details before confirming.
What happens if I entered the wrong address? If you withdraw to an incorrect or invalid address, the funds may be **lost permanently**. The exchange cannot retrieve funds sent to the wrong address. Always verify the destination address carefully.
Why do some withdrawals require a Memo/Tag? Certain cryptocurrencies (e.g., XRP, XLM, EOS) require a **memo, tag, or payment ID** in addition to the wallet address. If you forget to include it, your funds may not be credited properly on the receiving platform. Manual recovery may be possible but is not guaranteed and may require service fees.
Are there fees for on-chain withdrawals? Yes. Each on-chain withdrawal incurs a network fee (gas fee) to process the transaction on the blockchain. The fee amount depends on the selected network and current network conditions.
What if I chose the wrong network? Sending a withdrawal via the wrong blockchain network may result in **irreversible loss** of funds. Some recoveries may be possible but are not guaranteed. Always confirm that the recipient platform supports the selected network.
# Fiat Our fiat solution enables you to deposit and withdraw USD via SWIFT wire transfers directly to and from your personal bank account, providing seamless global fiat access (subject to jurisdictional restrictions). *** ### Is this service available in all countries? Due to regulatory requirements, our fiat services are not available in certain jurisdictions. Please refer to the list below for countries and regions where fiat deposits and withdrawals are currently not supported: * Afghanistan * Belarus * Central African Republic * Crimea / Sevastopol Region / Luhansk / Donetsk / Kherson / Zaporizhzhia / Dnipropetrovsk Oblast / Kharkiv Oblast * Cuba * Democratic People’s Republic of Korea (North Korea) * Democratic Republic of the Congo * Gaza * Iran * Libya * Myanmar (Burma) * Nicaragua * Russian Federation * South Sudan * Syria * United States * UAE * Venezuela * Zimbabwe *** ### Can I link a business bank account? Individual accounts must use personal bank accounts only. For business accounts, onboarding as a corporate client is required. Contact support for assistance. *** ### Can I use fintech platforms (e.g., Wise, Revolut)? Yes, but only if: * The account is in your name * The platform supports named SWIFT USD transfers * The transfer isn't from a pooled or anonymous account Note: These platforms may reject transactions based on their own policies. *** ### Will I need to provide additional documentation? To comply with regulatory and banking partner requirements, you may be asked to provide extra information such as: * Proof of source of funds (e.g., recent bank statement) * Purpose of transaction (e.g., “crypto trading”) * Any other compliance-related documents \ Please respond promptly to avoid processing delays. # How to Deposit via Wire ## Overview | Item | | | ------------------- | ---------------------------------------------------- | | **Currency** | USD via SWIFT | | **Minimum Deposit** | 100 USD | | **Processing Time** | Typically 1–5 business days | | Fees | Tier-based — see **Wire fee schedule** below Updated | {% hint style="info" %} Wire fees depend on your tier. Each tier includes a set number of free wires per 30-day period; higher tiers earn more free wires and lower transaction fees. **Your sending/intermediary bank may apply its own charges, which are outside our control.** {% endhint %} *** ## Prerequisites * ✅ **Verified Backpack Exchange account** * ✅ **Available USD balance in your Bank Account** *** ## Wire fee schedule Higher tiers get more free wires per month and reduced fees on large transfers.
{% hint style="info" %} ***Important Notes:*** * **Fee tiers are recalculated hourly, and your VIP status is updated accordingly.** * **Effective tier is determined based on your BP Stake, trading volume and pre-TGE Mad Lad NFT holding, whichever tier is highest.** * **Our USDT/USDC trading pair is subject to a 0% fee, which means that trades on this pair do not count toward your 30-day volume requirements for fee tier upgrades.** {% endhint %} *** ## Step-by-Step Guide ### Get Your Backpack Wire Details * Log in to [Backpack.exchange](https://backpack.exchange/). * **Open the Deposit modal** In the top-right corner, click Deposit
Select **Cash (USD)** → **Wire Transfer** ***Note: The minimum deposit is $100, and we accept USD only.***
click **Continue**.
{% hint style="info" %} **Deposit fees may vary depending on your account status.** Please refer to the detailed fee schedule [**here**](#wire-fee-schedule). {% endhint %} *** ## **Copy your bank details** You’ll see everything you need on the “Wire transfer” screen: * Account name * SWIFT/BIC * IBAN / Account number * Sort code (if applicable) * Reference (include this exactly to credit your account) * Bank name & address * Recipient address *** ## **Send the wire from your bank** From your personal bank account, initiate a SWIFT transfer using the details above. Make sure: * The sending account is in *your* name (third-party transfers are rejected). * You send USD only. ⚠️ **Important:** Deposits must come from a bank account in your name. Third-party deposits are not supported. *** 🎉 **All done!** Your USD deposit is now on its way to Backpack. Need help or have questions? Reach our support team anytime at . Be sure to include your wire transfer reference for faster assistance. # How to Withdraw via Wire ## Overview | Item | | | ---------------------- | ---------------------------------------------------- | | **Currency** | USD via SWIFT | | **Minimum Withdrawal** | 100 USD | | **Processing Time** | Typically 1–5 business days | | Fees | Tier-based — see **Wire fee schedule** below Updated | {% hint style="info" %} Wire fees depend on your tier. Each tier includes a set number of free wires per 30-day period; higher tiers earn more free wires and lower transaction fees. **Your receiving/intermediary bank may apply its own charges, which are outside our control.** {% endhint %} *** ## Prerequisites * ✅ **Verified Backpack Exchange account** * ✅ **Available USD balance in Backpack Exchange** * ✅ **Your Bank Account Number** *** ## Wire fee schedule Higher tiers get more free wires per month and reduced fees on large transfers.
{% hint style="info" %} ***Important Notes:*** * **Fee tiers are recalculated hourly, and your VIP status is updated accordingly.** * **Effective tier is determined based on your BP Stake, trading volume and pre-TGE Mad Lad NFT holding, whichever tier is highest.** * **Our USDT/USDC trading pair is subject to a 0% fee, which means that trades on this pair do not count toward your 30-day volume requirements for fee tier upgrades.** {% endhint %} *** ## Step-by-Step Guide ### Log in to Backpack and Open Withdrawal Menu * Log in to [Backpack.exchange](https://backpack.exchange/). * Click on **Withdraw**
* Select **Cash (USD)**.
**Add or select a bank account** * If you haven’t added a recipient before, click **"Select Recipient"** → click **Add Bank Account** : * Recipient country * Bank identifier type * SWIFT/BIC for most international wires * Sort code (UK/Ireland only) * SWIFT/BIC code *or* Sort code (depending on your choice) * Account number * Recipient details: * Type (Individual / Business) * Name, address, city, postcode * Bank details: * Bank name, branch address, city, postcode, country * (Optional) Intermediary bank SWIFT/BIC * Click Add bank account to save.
*** ### Submit Your Withdrawal * Enter the withdrawal amount (**Minimum: USD 100**). * Select the **account** you wish to withdraw from (if applicable). * Choose your saved **bank account** from the recipient list. * Click **Continue**. * Complete **2-factor authentication** to confirm and submit your withdrawal. *** ### Track Your Funds * Funds typically arrive in your bank account within **1–5 business days**. * If the funds haven't arrived after **5 business days**, contact Backpack Support and provide your withdrawal reference. *** 🎉 **That's it!** Your USD withdrawal is now on its way to your bank account. Need assistance? Our support team is always here to help at . Please include your withdrawal reference for quicker support. # Bank Guides # Chase # How to Deposit via Wire Transfer — Chase Bank This guide shows you exactly how to wire USD from your Chase Bank account to Backpack Exchange ## Overview | Item | | | ------------------- | --------------------------- | | **Currency** | USD | | **Minimum Deposit** | 100 USD | | **Processing Time** | Typically 1–5 business days | *** ## Prerequisites * ✅ **Verified Backpack Exchange account** * ✅ **Chase online banking or mobile app access** * ✅ **Available USD balance in your Chase checking account** *** ## Step-by-Step Guide ### 1. Access Your Backpack's Wire Deposit Details * Log in to [Backpack.exchange](https://backpack.exchange/). * Select **Deposit**
* Select **Cash** → **Wire Transfer** → click **Continue**.
Review the deposit instructions, login to your bank to send a wire transfer and copy across the wire details (Account/Recipient Name, Address, SWIFT/BIC, IBAN/Account Number, Reference Code). **Note: You must include your unique Reference Code in the wire memo/details**
{% hint style="info" %} **Deposit fees may vary depending on your account status.** Please refer to the detailed fee schedule [**here**](/exchange/deposit-and-withdraw/fiat/how-to-deposit-via-wire#wire-fee-schedule). {% endhint %} *** ### 2. Initiate a Wire Transfer (Part 1): Add Recipient Bank Details **💻 On the Chase Website:** 1. Sign in at [chase.com](https://chase.com/). 2. Select **Pay & Transfer** (top navigation bar). 3. Select **Wires & global transfers.** 4. Select **Add a recipient.** 5. Choose **Payment Purpose** → Investing in cryptocurrency. 6. Select **Add recipient bank**. 7. Enter the **Recipient bank details** (see bank info above).
* Enter the **Recipient Business details** (see Backpack info above).
* Confirm the details are correct and select **Add recipient.**
### 3. Initiate a Wire Transfer (Part 2): 1. Select **Schedule a Wire**. 2. Select **Recipient** (Recipient info you added above) → **Next**. 3. Enter the amount you want to send. 4. Enter your unique **Reference Code** (see above) in the **Message to recipient** field. 5. Click **Next**. 6. Review the wire transfer information and select **Authorize wire in U.S. Dollars (USD).**
**📱 On the Chase Mobile App:** 1. Log in and tap **Pay & Transfer** (bottom navigation bar). 2. Tap **Wires & global transfers** 3. Tap **International → Schedule a wire**. 4. Select **Recipient** (Recipient info you added above) → **Next** 5. Enter the amount you want to send 6. Endter your unique **Reference Code** (see above) in the **Message to Recipient** field 7. Click **Next** 8. Review the wire transfer information and select **Authorize wire in U.S. Dollars (USD)** > **Tip:** If you can't see **Wires & global transfers**, first navigate to **Pay & Transfer → Manage recipients** and accept Chase’s wire agreement. The option will then appear. *** ### 4. Complete and Submit Your Wire * Enter the amount (**Minimum: USD 100**). * Review any Chase wire fees. * Complete 2-factor authentication and submit your wire. *** ### 5. Confirm Your Deposit * Your funds typically arrive in your Backpack account within **1–5 business days**. * If funds aren't credited after 5 business days, contact both Chase and Backpack Support. Provide your wire confirmation receipt. *** 🎉 **All done!** Your USD deposit is now on its way to Backpack. Need help or have questions? Reach our support team anytime at . Be sure to include your wire transfer reference for faster assistance. # How to Withdraw via Wire Transfer— Chase Bank This article guides you step-by-step on how to withdraw USD from your Backpack Exchange account directly to your Chase Bank account using a SWIFT wire transfer. ### Overview | Item | Details | | ---------------------- | ------------------------------------- | | **Currency** | USD via SWIFT | | **Minimum Withdrawal** | 100 USD | | **Processing Time** | Typically 1–5 business days | | **Incoming Wire Fee** | Chase may charge approximately USD 15 | *** ### Prerequisites Before you begin, ensure you have: * ✅ **Available USD balance in Backpack Exchange** * ✅ **Your Chase Bank Account Number** * ✅ **Chase Bank SWIFT code:** `CHASUS33` *** ## Step-by-Step Guide ### 1. Log in to Backpack and Open Withdrawal Menu * Log in to [Backpack.exchange](https://backpack.exchange/). * Click on **Withdraw**
* Select **Cash (USD)**.
*** ### 2. Find Your Chase Wire Details * Log in to your [Chase account](https://chase.com/). * Select your **checking account** from the dashboard. * Click the **… (three-dot) More** menu. * Select **Account & routing numbers**. * Locate your eight-digit **Account number** under "Wire transfers." * Confirm the SWIFT/BIC as `CHASUS33`. > **Note:**Please make sure to use the routing number for wire transfers, not ACH transfers.
*** ### 3. Add Your Chase Account in Backpack (First-Time Setup) * In Backpack withdrawal modal, select **"Select Recipient"** → click **Add Bank Account**.
* Enter your details exactly as listed by Chase | Field | Value (Example) | | --------------- | ------------------------------ | | **Country** | United States | | **SWIFT / BIC** | CHASUS33 | | **Account No.** | Your Chase Account Number | | **Name** | Exactly as registered on Chase | | **Address** | Exactly as registered on Chase | * Click **"Add Bank Account"** to save. *** ### 4. Withdrawing Fudns * Enter Withdrawal Amount: Specify the amount you wish to withdraw (minimum USD 100). * Select Sub-account: If applicable, choose the sub-account from which to withdraw. * Choose Recipient: Select your saved Chase account as the withdrawal recipient. * Continue: Click the "Continue" button at the bottom of the page. * Confirm Withdrawal: Complete the 2-factor authentication process to finalize and submit your withdrawal request. *** ### 5. Track Your Withdrawal * Withdrawals generally take **1–5 business days** to reach your Chase account. * If you haven't received your funds after 5 business days, please contact Backpack Support with your withdrawal reference number. *** 🎉 **That's it!** Your USD withdrawal is now on its way to your Chase account. Need assistance? Our support team is always here to help at . Please include your withdrawal reference for quicker support. # ZA Bank # How to Deposit via Wire Transfer — ZA Bank This quick guide shows you exactly how to wire USD from your ZA account to Backpack Overview | Item | | | ------------------- | --------------------------- | | **Currency** | USD via SWIFT | | **Minimum Deposit** | 100 USD | | **Processing Time** | Typically 1–5 business days | *** ### Prerequisites * ✅ **Verified Backpack Exchange account** * ✅ **ZA Bank online/mobile banking** * **✅ USD in your ZA Bank account** *** ## Step-by-Step Guide ### 1. Get Your Backpack Wire Details * Log in to [Backpack.exchange](https://backpack.exchange/). * Go to **Deposit**
* Select **Cash** → **Wire Transfer** → click **Continue**.
Copy Account Name, SWIFT/BIC, IBAN / Account Number (where applicable), and Account Name, **Reference ID.**
{% hint style="info" %} **Deposit fees may vary depending on your account status.** Please refer to the detailed fee schedule [**here**](/exchange/deposit-and-withdraw/fiat/how-to-deposit-via-wire#wire-fee-schedule). {% endhint %} *** ### 2. Start Overseas Remittance in ZA Bank * Open your **ZA Bank app** * Tap **Transfer** from the homepage, then select **Global Transfer**
* Select destination: **United Kingdom** * Select currency: **USD**, then tap **Continue** * Enter the transfer amount * Ensure **“Expected to get” is at least $100 USD** * Choose a **fee deduction method** (either option is supported) * Ensure **“Expected to get” remains at least $100 USD** * Tap **Continue**
* Enter **Backpack Exchange bank details** (copy from the Backpack fiat deposit page) > **Note:** Bank details may change. Always verify the latest information on Backpack before proceeding. * Confirm the details and **continue** * Enter your **Reference ID** in the **Remarks** field (copy from the Backpack fiat deposit page) * Confirm all details, then **swipe to remit**
*** ### 3. Track Your Deposit * Your deposit should arrive in your Backpack account within **1–5 business days**. * If your funds haven't been credited after 5 business days, contact Backpack Support and provide your wire details. *** 🎉 **Great work!** Your deposit is on its way. If you encounter any issues, our support team is available 24/7. Contact us at , and please include your wire details for quicker assistance. # How to Withdraw via Wire Transfer — ZA Bank This article guides you step-by-step on how to withdraw USD from your Backpack Exchange account directly to your ZA Bank account using a SWIFT wire transfer. Overview | Item | Details | | ---------------------- | --------------------------- | | **Currency** | USD via SWIFT | | **Minimum Withdrawal** | 100 USD | | **Processing Time** | Typically 1–5 business days | *** ### Prerequisites Ensure you have: * ✅ **Available USD balance in Backpack Exchange** * ✅ **ZA Bank Account details for receiving SWIFT transfer** *** ## Step-by-Step Guide ### 1. Collect Your ZA Bank Account Details * Open your **ZA Bank app** * Tap **Add Money** * Select **Inward Remittance**
* Copy the **recipient bank details** for use in later withdrawal steps * If a **correspondent bank** is required: * Tap **Correspondent Bank** to view ZA Bank’s intermediary bank details
* For details on Overseas Remittance, refer to the[ ZA Bank FAQ](https://bank.za.group/hk/support/details?title=%27\&PFAQ=Individuals-transfer\&FAQ=Inward-Overseas-Remittance). ### 2. Visit Backpack and Open Withdrawal Menu * Log in to [Backpack.exchange](https://backpack.exchange/) * Click on **Withdraw** in the top right
* Select **Cash**
*** ### 3. Add Your ZA Bank Account in Backpack (First-Time Setup) * In the Backpack withdrawal modal, select **"Select Recipient"** → click **Add Bank Account**
* Enter your details exactly as listed in ZA Bank: | Field | Value (Example) | | ----------------------- | --------------------------------------------------------------------- | | **Country** | Hong Kong | | **SWIFT/BIC** | AABLHKHH | | **Account No.** | *(Paste your ZA Bank Account Number)* | | **Bank Name** | ZA Bank Limited | | **Bank Address** | Core F, Cyberport 3, 100 Cyberport Road, Hong Kong | | **Postcode / Zip code** | Enter *00000 (Hong Kong does not use postal codes for domestic mail)* | > **Note:** Bank information is provided for reference only and has been extracted from the [ZA Bank FAQ](https://bank.za.group/hk/support/details?title=%27\&PFAQ=Individuals-transfer\&FAQ=Inward-Overseas-Remittance). Please double-check and verify the latest details directly with your bank before proceeding with any wire transfer. * After entering details, click **"Add Bank Account"**.
*** ### 4. Submit Your Withdrawal * Back in the Withdrawal screen, enter the amount you wish to withdraw (**Minimum: USD 100**). * Select the **Sub-account** you wish to withdraw from. * Choose your saved **ZA Bank account** from the recipient list. * Click **Continue**. *** ### 5. Track Your Withdrawal * Funds typically arrive in your ZA Bank account within **1–5 business days**. * Backpack support may reach out via email to request proof of funds. We accept crypto-native proofs, such as transaction hashes for earnings, transfer confirmations from exchanges (with matching names), Backpack's trading history, and more. * If funds aren't credited after 5 business days, contact Backpack Support and provide your withdrawal details. *** 🎉 **Done!** Your withdrawal is successfully initiated. If you encounter any issues, our support team is available 24/7 at . Please include your withdrawal details for prompt assistance. # Wise # How to Deposit via Wire Transfer— Wise This quick guide shows you exactly how to wire USD from your Wise account to Backpack ### Overview | Item | | | ------------------- | --------------------------- | | **Currency** | USD via SWIFT | | **Minimum Deposit** | 100 USD | | **Processing Time** | Typically 1–5 business days | *** ### Prerequisites Ensure you have: * ✅ **Wise account** and available funding method * ✅ **Backpack Exchange wire details** (SWIFT, IBAN, Account Name, Reference Code) *** ## Step-by-Step Guide ### 1. Get Your Backpack Wire Details * Log in to [Backpack.exchange](https://backpack.exchange/). * Go to **Deposit**
* Select **Cash (USD)** → **Wire Transfer** → click **Continue** ![](/files/P84RvEhZTiMjvoaNCsm6) **Copy:** * SWIFT/BIC * IBAN/Account Number * Account Name * **Reference ID**
{% hint style="info" %} **Deposit fees may vary depending on your account status.** Please refer to the detailed fee schedule [**here**](/exchange/deposit-and-withdraw/fiat/how-to-deposit-via-wire#wire-fee-schedule). {% endhint %} *** ### 2. Send USD via Wise * Log in to your Wise account (website or app) * Click on the green '**Send'** button
* On the **'Select their currency'** screen, choose your '**Source currency'** (local currency or USD if funded) and set the **Target currency** to USD
* On the **'Add a recipient'** screen, select **'Bank details'**
* Select '**Business or Charity'** recipient (required as Backpack is a business)
* Enter Backpack’s **Beneficiary Name**, **IBAN**, and **SWIFT/BIC**
* Select the payment currency and enter the amount, click **'Continue'**
* review fees, In the **'Payment reference / Message'** field, paste your Backpack **Reference Code,** and click **'Continue to instructions'** to complete the transfer
*** ### 3. Track Your Deposit * Wise will display real-time status updates: **Processing → Sent**. * Funds usually appear in your Backpack account within **1–5 business days**. * If the transfer hasn't been credited after 5 business days, contact Wise and Backpack Support with your wire details. *** 🎉 **Great work!** Your deposit is on its way. If you encounter any issues, our support team is available 24/7. Contact us at , and please include your wire details for quicker assistance. # How to Withdraw via Wire Transfer— Wise This article guides you step-by-step on how to withdraw USD from your Backpack Exchange account directly to your Wise Bank account using a SWIFT wire transfer. ### Overview | Item | Details | | ---------------------- | --------------------------- | | **Currency** | USD via SWIFT | | **Minimum Withdrawal** | 100 USD | | **Processing Time** | Typically 1–5 business days | *** ### Prerequisites Ensure you have: * ✅ **Wise USD Balance** with account details enabled * ✅ **Available USD balance in Backpack Exchange** *** ## Step-by-Step Guide ### 1. Log in to Backpack and Open Withdrawal Menu * Log in to [Backpack.exchange](https://backpack.exchange/). * Click on **Withdraw**
* Select **Cash (USD)**.
*** ### 2. Collect Your Wise Receiving Details * Open your Wise account. * In the **Home** tab, select your **USD balance**.
* Click **Account details** to view: * **Account Number** * **Wire routing** * **SWIFT/BIC** * **Full legal name and address**
* Copy these details for use in Backpack. *** ### 3. Add Your Wise Bank Account in Backpack (First-Time Setup) * In Backpack withdrawal modal, select **"Select Recipient"** → click **Add Bank Account**.
| Field | Value (Example) | | --------------- | ----------------------------------- | | **Country** | *(Exactly as on Your Wise account)* | | **SWIFT/BIC** | *(Paste from Wise)* | | **Account No.** | *(Paste from Wise)* | | **Name** | *(Exactly as on Wise account)* | | **Address** | *(Exactly as on Wise account)* | * Click **"Add Bank Account"** to save.
*** ### 4. Submit Your Withdrawal * Enter the amount you wish to withdraw (**Minimum: USD 100**). * Select the **Sub-account** you wish to withdraw from. * Choose your saved **Wise Bank account** from the recipient list. * Click **Continue**. * Complete **2-factor authentication** and confirm your withdrawal. *** ### 5. Track Your Withdrawal * Funds should arrive in your Wise account within **1–5 business days**, minus any inbound fee charged by Wise. * If funds are not received within 5 business days, contact Backpack Support with your withdrawal details. *** 🎉 **Success!** Your withdrawal is now processing. Need help? Contact our support team at . Remember to include your withdrawal details for quick assistance. # FAQs # Fiat Deposit ### Frequently Asked Questions
What details do I need for a wire transfer? We provide: * Account name * SWIFT/BIC * IBAN / Account number * Sort code (if applicable) * Reference (include this exactly to credit your account) * Bank name & address * Recipient address Please ensure accuracy to avoid delays.
How long does a USD deposit take? Deposits typically take **1–5 business days**, depending on your bank and intermediary banks.
Can I deposit from another person's bank account? **No.** We only accept deposits from bank accounts in your own name. Third-party deposits will be rejected or returned, potentially incurring additional fees.
My deposit hasn't arrived—what should I do? If a deposit doesn't appear after **5 business days:** 1. Confirm with your bank that the wire was sent successfully. 2. Verify that all wire details and required reference codes were included. 3. Contact our support with your wire receipt and bank confirmation.
What happens if my deposit is rejected? Rejected deposits (e.g., due to name mismatch or missing reference) are typically returned to the sending bank, potentially incurring third-party fees and delays.
Will I need to provide extra documentation? In some cases, our banking partner or your own bank may request additional details—for example: * Purpose of transaction (e.g. “crypto purchase”) * Proof of source of funds (recent bank statement) * Any other compliance documentation
If you receive such a request, please reply promptly with the information to avoid processing delays.
# Fiat Withdrawal ### Frequently Asked Questions
How long do USD withdrawals take? Withdrawals via SWIFT usually arrive within **1-5 business days**, subject to your bank and intermediaries.
What if I enter incorrect bank details? Incorrect or incomplete banking details may result in: * Delayed, returned, or lost funds * Additional recovery fees Always ensure your information is correct and updated.
Why was my transaction delayed, suspended, or canceled? Transactions can be delayed or suspended due to compliance or risk checks by our banking partners, requiring additional documentation. If additional information is needed, we'll request: * Proof of bank ownership (recent 3-month bank statement) * Source of funds * Purpose of transfer or other relevant documentation ⚠️ **Important:** Respond promptly to these requests to avoid delays, returned funds, or account restrictions.
Will I need to provide extra documentation? In some cases, our banking partner or your own bank may request additional details—for example: * Purpose of transaction (e.g. “crypto purchase”) * Proof of source of funds (recent bank statement) * Any other compliance documentation
If you receive such a request, please reply promptly with the information to avoid processing delays.
# Trading # Margin System ## Overview of Backpack’s Margin System Backpack’s margin system is designed to be simple and resilient. At a high level you: * keep one pool of collateral, * earn yield on idle balances, * borrow automatically when you need to, * and isolate risk with sub-accounts. *** ### Account & Efficiency **Unified cross-margin.** Your eligible assets (spot balances, perps margin, lending balances) live in one collateral pool, so you don’t have to shuffle funds between products. **Sub-accounts for risk isolation.** Create independent sub-accounts. Each has its own collateral, PnL, and margin—so a mistake in one doesn’t spill into another. **Fewer transfers, more utility.** Because funds are pooled, you can deploy capital quickly without moving assets around. *** ### Collateral Rules **How collateral is valued.** Collateral Value = **Quantity × Mark Price × Collateral Weight** (a haircut). * **Weights vary by asset** (more volatile/less liquid → lower weight). * **Size tiers / concentration controls:** very large balances may receive a lower **marginal** weight to limit concentration risk. * **Dynamic updates:** weights can change with market/liquidity conditions; see the live table [here](https://backpack.exchange/market-info/collateral) for current values. **👉For more details about Collateral, please refer to the** [**Collateral** ](/technical-docs/trading/margin#collateral)**and** [**Non-USD Collateral** ](/technical-docs/trading/margin#non-usd-collateral)**sections in the technical docs.** *** ### Equity & Margin Terms **Net Equity** = Total Collateral Value + Unrealized PnL + Unsettled Balances − Borrowed Liabilities.\ **Available Equity** = Net Equity − Locked Equity (reserved for open orders/positions). **IMR (Initial Margin Requirement).** Measures how much equity is committed to current exposure. * At **100% IMR**, you can’t increase exposure (no new/size-up positions). **MMR (Maintenance Margin Requirement).** Minimum equity required to keep positions open. * At **100% MMR**, liquidation protection triggers. **👉 For full formulas and examples, see the the** [**Equity** ](/technical-docs/trading/margin#equity)**and** [**Margin**](/technical-docs/trading/margin#margin) **sections in the technical docs** *** ### Yield & PnL **Auto-lend.** Eligible assets in your margin wallet can be lent into the pool and **accrue yield** while still counting as collateral. Rates vary with pool utilization. **PnL treatment.** **PnL is continuously realized** and flows into **Net Equity** without requiring you to close positions. Profits increase usable equity; losses reduce it. **Interest interactions.** Borrowed balances **accrue interest** continuously; surplus balances may **earn** via auto-lend. Funding paid/received on perps posts to PnL and therefore Net Equity each interval. **👉See the** [**Settlement and Realization**](/technical-docs/trading/settlement-and-realization) **page for more detailed information** *** ### **Borrowing** * Auto-Borrowing: When executing trades that exceed available balances (e.g., short-selling), the system automatically borrows the deficit from the lending pool. * Manual Borrowing: Users can manually borrow assets via the borrow/ lend interface. * Repayment Methods: * proceeds from auto-lend, * repurchasing the borrowed asset, or * manual repay in the Borrow dashboard. **👉For more information about how Borrowing and Lending works, refer to the technical docs** [**here**](/technical-docs/borrow-and-lend) *** ### Risk & Liquidation **Transparent Risk Engine** * **Dynamic Interest Rates:** Borrowing costs adjust based on pool utilization — higher utilization drives higher rates. * **Public parameters:** collateral weights, IMR/MMR thresholds, and rate curves can be found [here](https://backpack.exchange/market-info/market-specs/futures) * **Real-time monitoring:** positions and margin health are checked continuously using **mark prices** from exchange/oracle sources. **Liquidation flow** * **Trigger:** when **MMR reaches 100%**. * **Partial first:** the system reduces exposure incrementally to restore margin health. * **Orderbook then backstop:** liquidations route through the **orderbook** first; any remainder can be closed to **backstop liquidity providers**. {% hint style="info" %} **For full technical details, see the** [**Margin docs**](/technical-docs/trading/margin) {% endhint %} ## Important Update (Effective October 6, 2025 — 07:00 UTC) We’re introducing a liquidation fee. * Rate: 1% on all system-triggered perps and borrow/spot-margin liquidations. * Scope: Applied only to the filled amount of each liquidation order (per fill). * Unchanged: Regular user trades and fees are unaffected. If you have any questions, please reach out to . *** ## Frequently Asked Questions
Why is my 50x maximum leverage not taking effect? The 50x leverage setting may not apply if the trading pair has its own maximum leverage limit or if additional risk parameters are in place. Please check the leverage limits for the specific market you are trading.
Why am I unable to open a position even though my account has sufficient funds? * In such cases, it is usually because the remaining net equity in your account is insufficient to support the minimum margin requirement for the new position. You may try reducing the position size to open a new position until your account’s IMR equals 100%. * Once your account margin ratio reaches ≥ 100%, you will no longer be able to open new positions.
Why does my account still have a balance after liquidation (partial liquidation)? * This happens because Backpack utilises a gradual liquidation mechanism. When your **Maintenance Margin Ratio (MMR)** exceeds 100%, the system will attempt to minimize losses by liquidating only the portion necessary to restore your account to a healthy state. (By contrast, some exchanges may fully liquidate your position at this point.) * However, please note that if the market continues moving against you for a prolonged period and you do not add collateral, or close your position in time, even partial liquidations may continuously erode your funds until the balance is fully depleted.
Why was my position liquidated even though it was still far from the estimated liquidation price? * The estimated liquidation price is only a reference. Actual liquidation is triggered when **MMR ≥ 100%**. * In addition, **Backpack follows a cross-margin model**, where all positions within a sub-account share the same margin balance, and PnL from different positions can offset each other. If the sub-account holds complex positions (e.g., borrowing, using another asset as margin while also shorting it), the system may not be able to provide an accurate estimated liquidation price, since multiple factors influence the calculation and the functions involved are relatively complex.
How are liquidation fees charged A 1% Liquidation fee is charged per order-book conversion when the system liquidates your account (deducted from proceeds; not charged on user-closed positions).
How can I view liquidated positions? * If a **borrow position** was liquidated, please visit:\ * If a **futures position** was liquidated, please visit:\
# Spot # How to trade Spot ## Spot Trading on the Web 1. **Deposit funds into your exchange account (crypto or fiat).** * [Crypto Deposits](/exchange/deposit-and-withdraw/crypto/deposit#how-to-deposit) * [Fiat Deposits](/exchange/deposit-and-withdraw/fiat/how-to-deposit-via-wire) 2. **Navigate to the Spot Trading section** * Select your desired trading pair (e.g., SOL/USD) * Choose the trading direction (Buy/Sell) 3. **Select the** [**order type.**](/exchange/trading/order-types) 4. **Enter the required parameters** * Price * Quantity * ... (and other necessary parameters) 5. **Optional settings** * **Post Only**: Ensures your order is placed as a maker order and does not take liquidity. * **IOC (Immediate or Cancel)**: Executes the order immediately as much as possible; any unfilled portion is canceled. Suitable for quick entries and exits. * **Margin**: Uses leverage to improve capital efficiency (note: this increases liquidation risk). * ... (and other Optional settings) 6. **Submit the order.**
## Spot Trading on Mobile 1. **Deposit funds into your exchange account (crypto or fiat).** * [Crypto Deposits](/exchange/deposit-and-withdraw/crypto/deposit#how-to-deposit) * [Fiat Deposits](/exchange/deposit-and-withdraw/fiat/how-to-deposit-via-wire) 2. **Navigate to the Spot Trading section** * Select your desired trading pair (e.g., SOL/USD) * Choose the trading direction (Buy/Sell) 3. **Select the** [**order type.**](/exchange/trading/order-types) 4. **Enter the required parameters** * Price * Quantity * ... (and other necessary parameters) 5. **Optional settings** * **Post Only**: Ensures your order is placed as a maker order and does not take liquidity. * **IOC (Immediate or Cancel)**: Executes the order immediately as much as possible; any unfilled portion is canceled. Suitable for quick entries and exits. * **Margin**: Uses leverage to improve capital efficiency (note: this increases liquidation risk). * ... (and other Optional settings) 6. **Submit the order.**
## Frequently Asked Questions
What types of orders can I place in spot trading? Available order types include: * [**Market Order**](/exchange/trading/order-types/market-orders) – Buy or sell immediately at the best available price. * [**Limit Order** ](/exchange/trading/order-types/limit-orders)– Set your own price and wait for the market to match it. * [**Conditional Order** ](/exchange/trading/order-types/conditional-orders)– Set specific conditions for the order to be triggered when market criteria are met. * [**TWAP (Time-Weighted Average Price)** ](/exchange/trading/order-types/twap)– Execute a large order over a set period of time at regular intervals to minimize market impact and achieve an average price. * [**Scaled Order**](/exchange/trading/order-types/scaled-order) – Place multiple orders at different price levels, either progressively higher or lower, to take advantage of price fluctuations.
How do I check my open orders and trade history? You can view open orders in the “Open Orders” tab on the trading page. Completed trades are available under “Fill History” or “Position History” and cancellations are available under "Order history"
What fees apply to spot trading? Different trading levels correspond to different fee rates. For more details, please refer to the section on [trading fees.](/exchange/trading/trading-fees)
What is the minimum amount I can trade? The minimum trade amount depends on the specific trading pair and the exchange’s requirements. This information is usually displayed on the order entry page.
Can I cancel an open spot order? **Yes.** You can cancel any open order from the “Open Orders” section before it is executed. Once the order is filled, it cannot be canceled.
How do I withdraw my assets after a trade? After completing a trade, your assets will be available in your account. You can withdraw them to an external wallet by navigating to the withdrawal page, entering the recipient address, and confirming the transaction. For more details, please refer to the [withdrawal guide.](/exchange/deposit-and-withdraw/crypto/withdrawals)
# Spot Margin # Spot Margin Trading Spot margin trading lets you **borrow assets against your collateral** to increase the size of a spot position. You trade the underlying asset, and borrowed amounts **accrue interest** and are repaid later. ## Spot Margin Trading on the Web 1. **Deposit funds into your exchange account (crypto or fiat).** * [Crypto Deposits](/exchange/deposit-and-withdraw/crypto/deposit#how-to-deposit) * [Fiat Deposits](/exchange/deposit-and-withdraw/fiat/how-to-deposit-via-wire) 2. **Navigate to the Spot Trading section** * Select your desired trading pair (e.g., SOL/USD) * Choose the trading direction (Buy/Sell) 3. **Select** [**Order Type**](/exchange/trading/order-types) 4. **Enter the required parameters** * Price * Quantity 5. **Check the "Margin" box** 6. **Submit the order.**
## Spot Margin Trading on Mobile 1. **Deposit funds into your exchange account (crypto or fiat).** * [Crypto Deposits](/exchange/deposit-and-withdraw/crypto/deposit#how-to-deposit) * [Fiat Deposits](/exchange/deposit-and-withdraw/fiat/how-to-deposit-via-wire) 2. **Navigate to the Spot Trading section** * Select your desired trading pair (e.g., SOL/USD) * Choose the trading direction (Buy/Sell) 3. **Select** [**Order Type**](/exchange/trading/order-types) 4. **Enter the required parameters** * Price * Quantity 5. **Check the "Margin" box** 6. **Submit the order.**
## Frequently Asked Questions
What are the fees for spot margin trading? Spot margin trading typically incurs the following fees: * **Interest on Borrowed Funds** – You are charged interest for borrowing funds. The rate varies depending on the currency. Simply select a different currency on the **lending page** to view the real-time lending and borrowing interest for that currency. * **Trading Fees** – Standard trading fees apply to buy and sell orders, which depend on your VIP level or maker/taker status.
What is leverage in spot margin trading? Leverage allows you to control a larger position than your initial investment. For example, with 3x leverage, you can trade three times the amount of your deposited collateral. Leverage increases both the potential for profit and the risk of loss.
Can I use spot margin trading with multiple leverage options? * Yes. You can select different leverage levels for each trade, depending on your risk tolerance and the specific pair you are trading. However, it’s important to consider the increased risk associated with higher leverage. * Please note that each currency has its own maximum leverage limit, which changes based on the position value.
Can I be liquidated with spot margin trading? Liquidation occurs when your margin balance falls below the required maintenance margin. If this happens, your position will be automatically closed to repay the borrowed funds. This can result in a loss of your collateral.
How do I avoid liquidation in spot margin trading? * Always monitor your account's MMR. At 100% or greater, your account will enter liquidation. * You can also set up **Stop-Loss orders** to automatically close your position if the market moves against you.
{% hint style="info" %} ### 👉[**Learn more about Spot Margin.**](/technical-docs/trading/spot-margin) {% endhint %} # Spot Margin VS Futures #### What are the differences between spot margin and futures? | Feature | Spot Margin | Futures | | ------------------------- | ------------------------------------------------------------------------- | --------------------------------------------------------------------------------- | | **Instrument** | You hold the **underlying asset** (borrowed or owned) | You trade a **derivative contract** that tracks an index price | | **Leverage** | Typically lower ranges (e.g., \~2×–5×), varies by asset and collateral | Typically higher ranges (e.g., \~10×–50×), varies by market | | **Carry / Ongoing costs** | Trading fees **+ borrow interest** | Trading fees **± funding payments** (you may pay or receive) | | **Settlement** | Spot settlement; inventory changes in your wallet | Perpetual contract; PnL settles continuously via funding | | **Use case** | Directional exposure to the asset, shorting via borrow, inventory hedging | Directional exposure without holding the asset, hedging, basis/funding strategies | # Futures ## Why choose Backpack for futures trading? * **Unified Cross-Margin Account** * **Competitive trading fees** * **Passive Yield from Auto Lending** ## Trading Futures on the Web * **Deposit funds into your exchange account (crypto or fiat).** * [Crypto Deposits](/exchange/deposit-and-withdraw/crypto/deposit#how-to-deposit) * [Fiat Deposits](/exchange/deposit-and-withdraw/fiat/how-to-deposit-via-wire) * **Navigate to the Futures Trading section** * Select your desired trading pair (e.g., SOL-PERP) * Choose the trading direction (Buy/Sell) * **Select the** [**order type.**](/exchange/trading/order-types) * **Enter the required parameters** * Price * Quantity * ... (and other necessary parameters) * **Optional settings** * **Post Only**: Ensures your order is placed as a maker order and does not take liquidity. * **IOC (Immediate or Cancel)**: Executes the order immediately as much as possible; any unfilled portion is canceled. Suitable for quick entries and exits. * **Reduce Only**: Ensures your order will only reduce your existing position and will not open a new position or increase the size of the current position. * **TP/SL (Take Profit/Stop Loss)**: Sets predefined price levels at which your position will be automatically closed to lock in profits (TP) or limit losses (SL). * ... (and other Optional settings) * **Submit the order.** ## Trading Futures on Mobile * **Deposit funds into your exchange account (crypto or fiat).** * [Crypto Deposits](/exchange/deposit-and-withdraw/crypto/deposit#how-to-deposit) * [Fiat Deposits](/exchange/deposit-and-withdraw/fiat/how-to-deposit-via-wire) * **Navigate to the Futures Trading section** * Select your desired trading pair (e.g., SOL-PERP) * Choose the trading direction (Buy/Sell) * **Select the** [**order type.**](/exchange/trading/order-types) * **Enter the required parameters** * Price * Quantity * ... (and other necessary parameters) * **Optional settings** * **Post Only**: Ensures your order is placed as a maker order and does not take liquidity. * **IOC (Immediate or Cancel)**: Executes the order immediately as much as possible; any unfilled portion is canceled. Suitable for quick entries and exits. * **Reduce Only**: Ensures your order will only reduce your existing position and will not open a new position or increase the size of the current position. * **TP/SL (Take Profit/Stop Loss)**: Sets predefined price levels at which your position will be automatically closed to lock in profits (TP) or limit losses (SL). * ... (and other Optional settings) * **Submit the order.** ## Frequently Asked Questions
How can I view the PnL of a specific position? * On the **Order** page or the **Portfolio** page, locate the open position you want to review. * Hover your mouse over **“PnL (ROI)”** to see how PnL is calculated under different price benchmarks and the corresponding amounts.
* Hover over the numbers below to view the **Open PnL**, **Closed PnL**, and the **All Time PnL** for that position.
How to correctly set take-profit and stop-loss orders for open positions On the **Order Placement** page or the **Portfolio** page, locate the open position you want to manage and click the **Settings** button under the **TP/SL** tab. * **For closing the entire position:** * Select **“Entire Position.”** * From the dropdown menu, **set the benchmark for the trigger price.** * Enter the trigger prices for take-profit and stop-loss, then click **Confirm** to complete the **TP/SL market order** setup. * **If you prefer a limit order trigger**, check **“Limit Price,”** fill in the required parameters, and then click **Confirm.**
* **For partially closing a position:** * Select **“Partial Position.”** * Manually input or drag the slider to set the **quantity** you want to close. * From the dropdown menu, **set the benchmark for the trigger price.** * Enter the trigger prices for take-profit and stop-loss, then click **Confirm** to complete the **TP/SL market order** setup. * **If you prefer a limit order trigger,** check **“Limit Price,”** fill in the required parameters, and then click **Confirm.**
For more details on TP/SL, please refer to [the documentation here.](/exchange/trading/order-types/take-profit-and-stop-loss)
How can I view and export my trading history? **Completed Order History** * Go to **Portfolio** → under the **Trades** tab, select **Fills**. * From the dropdown menu on the right, choose the corresponding token to view completed orders. * Hover your mouse over **“13 Days Ago”** to see the exact completion timestamp of the order. * If you need to export data for analysis, click the cloud icon under **Export**.
*** **Order Placement History** * Go to **Portfolio** → under the **Trades** tab, select **Order History**. * From the dropdown menu on the right, choose the corresponding token to view your order placements and the price levels at which they were submitted. * Hover your mouse over **“13 Days Ago”** to see the detailed timestamp of the order placement. * If you need to export data for analysis, click the cloud icon under **Export**.
How to view my liquidation history? please visit [https://backpack.exchange/portfolio/futures/liquidations](https://backpack.exchange/portfolio/futures/liquidations?utm_source=chatgpt.com)
{% hint style="info" %} ### **👉**[**Learn more about Futures**](/technical-docs/trading/futures-specs) {% endhint %} # Fees ## Trading Fees Standard trading fees apply to buy and sell orders, which depend on your VIP level or maker/taker status. For more details, please refer to the section on [trading fees.](/exchange/trading/trading-fees) ## Funding Fees #### **Overview** * The funding rate is the rate paid between longs and shorts every 1 hour. * If positive, longs pay shorts, if negative, shorts pay longs. * The countdown shows the time remaining until the next payment. * If you close your position before the countdown ends, you will neither pay nor receive the funding fee.
*** #### **Settlement Cycle** * The funding rate settlement cycle is currently 1 hour. * If there are any changes, they will be updated under **“Market Info”** for the corresponding token. * You can also check this information before trading.
*** #### **Calculation** * The funding rate reflects market conditions and is **not controlled by the exchange**. * It is mainly determined by the difference between the perpetual futures price and the spot price, market supply and demand, and borrowing costs. * For details on how funding rates are calculated, please refer to the documentation [**here**.](/technical-docs/trading/futures-specs#funding-rate) *** #### **How to view the Funding History of a token?** * On the exchange page, click **“More”** → **“Market Info”** →
* Click **“Funding History”,** from the dropdown menu, select the token you want to review. You will see the funding rate details across different timestamps.
* To view a line chart of the token’s historical funding rates: * Go to the **Order Placement** page, select the token from the dropdown menu on the left. * Under the **Funding** tab, you can see the historical line chart. * Hover over the line to view the funding rate at a specific time.
*** #### **View Your Funding Payments** * Click **Portfolio**. * Under the **Futures** tab, click **Funding**. * Use the dropdown menu on the right to select the token you want to view.
# Order Types # Market Orders A **Market Order** is an instruction to buy or sell immediately at the best available price in the order book. ### **When to Use？** * When you want your order to be executed instantly. * Suitable for entering or exiting a position quickly, regardless of slight price changes. ### **Key Points** * Execution is guaranteed, but the price may vary slightly due to market liquidity (slippage). * Best for urgent trades, not for precise price control. ### How to Avoid Slippage Risk When Using Market Orders？ * On the **Futures Order Placement** page, select the token you wish to trade. * After confirming the trade direction, choose **Market Order**. * Enter the order quantity. * Click **Max Slippage Setting**, then enter the maximum slippage you are willing to allow.
* Click **Submit** to save the setting.
* Confirm the order. # Limit Orders A **Limit Order** allows you to set the maximum price you are willing to pay when buying, or the minimum price you are willing to accept when selling. ### **When to Use?** * When you want to control the exact entry or exit price. * Suitable for patient traders waiting for favorable market conditions. *** ### **Key Points** Execution is not guaranteed — the order will only be filled if the market reaches or exceeds your set price. *** ### Why Did My Limit Order End Up Being Executed as a Market Order? * The logic of a limit order is: * A **buy order** will be executed at a price **≤ your set price**. * A **sell order** will be executed at a price **≥ your set price**. * If you do **not** enable the **Post Only** option, the system will match your order against existing orders in the order book immediately, as long as the price condition is satisfied. * To ensure your order is always placed into the order book as a **Maker** order, you need to check **Post Only**. Otherwise, your order may be executed immediately as a **Taker** order.
**Example:** * You set a **buy limit order** for BTC/USD at 30,000. * The current best ask price is 29,900. * **Result:** The system will execute the order immediately at 29,900 instead of placing it at 30,000 to wait. # Conditional Orders A Conditional Order is an instruction to buy or sell an asset once certain market conditions are met, such as reaching a specific trigger price. When the trigger condition is activated, the order is placed automatically as a market or limit order. ### **When to Use？** * When you want to **automate entries or exits** based on price movement. * To **protect against losses** (e.g., stop-loss) or **lock in profits** (e.g., take-profit). * When you cannot monitor the market continuously but want orders to be placed automatically at key levels. *** ### **Key Points** * Provides flexibility by combining trigger conditions with order execution. * Can be set as a **stop-market** or **stop-limit** order after the condition is met. * Execution is not guaranteed if the market does not reach the trigger price, or if there is insufficient liquidity at the chosen limit price. * Commonly used for **risk management** and **strategic trading automation**. # How to Set a Conditional Order? 1. **Deposit funds into your exchange account (crypto or fiat).** * [Crypto Deposits](/exchange/deposit-and-withdraw/crypto/deposit#how-to-deposit) * [Fiat Deposits](/exchange/deposit-and-withdraw/fiat/how-to-deposit-via-wire) 2. **On the Order Placement page, select the appropriate market (Spot or Futures — here we take Futures as an example).** * Select your desired trading pair (e.g., BTC-PERP) * Choose the trading direction (Buy/Sell) 3. **Select Conditional Order as the order type.** 4. **From the dropdown menu, choose the benchmark for the trigger price.** 5. **If you want the order to be executed as soon as the trigger price is reached** * Enter the required parameters directly（Trigger Price and Quantity ）
6. **If you want the order to be executed at a specified price after the trigger price is reached** * Check **“Limit Order”** to set the specified execution price. * Enter the required parameters（Trigger Price, Limit Price and Quantity ）
7. **Optional settings** * **Post Only**: Ensures your order is placed as a maker order and does not take liquidity. * **IOC (Immediate or Cancel)**: Executes the order immediately as much as possible; any unfilled portion is canceled. Suitable for quick entries and exits. * **Reduce Only**: Ensures your order will only reduce your existing position and will not open a new position or increase the size of the current position. * **TP/SL (Take Profit/Stop Loss)**: Sets predefined price levels at which your position will be automatically closed to lock in profits (TP) or limit losses (SL). * ... (and other Optional settings) 8. **Submit the order.** # FAQ ### Why was my conditional order not triggered even though the market price reached my trigger price? #### **Logic of a Conditional Order** A Conditional Order follows an **“If–Then” logic structure**: * **IF** the market price reaches the predefined **trigger price**, * **THEN** the system automatically submits an actual order (either a **market order** or a **limit order**). *** #### **Step-by-Step Logic Flow** 1. **Set Trigger Price** → You define the condition (e.g., “If BTC falls to $25,000”). 2. **Choose Execution Type** → You decide whether the system should place a **market order** (immediate execution) or a **limit order** (at your chosen price). 3. **Wait for Condition** → Until the trigger price is reached, the order stays inactive and does not appear in the order book. 4. **Activation** → Once the market price hits the trigger, the system automatically places your chosen order. 5. **Execution** → * If it’s a **market order**: it executes instantly at the best available price. * If it’s a **limit order**: it executes only at your specified price or better, if market liquidity allows. *** #### **Troubleshooting Checklist** 1. **Confirm the benchmark price selected for the trigger** — Mark Price, Index Price, or Last Traded Price. * If you set it to **Mark Price** but were monitoring the **Last Traded Price**, differences may occur. * A conditional order only triggers when the **chosen benchmark** actually reaches your trigger level. * If that benchmark never reaches the trigger price, the order will not activate, even if another price type appears to do so. 2. **Check whether you placed a limit order.** * When using a limit order, once the trigger price is reached, the system will only place your order on the book. * The order will only be executed if the **market price reaches or exceeds your specified limit price.** 3. In highly volatile markets, there may be **rapid fluctuations** or **gaps** between price updates. If the benchmark price only touches the trigger price momentarily and does not register in the system, the conditional order may not be activated. # TWAP A TWAP (Time-Weighted Average Price) Order is an algorithmic trading strategy that splits a large order into smaller trades and executes them evenly over a specified time period. The goal is to achieve an average execution price close to the market’s time-weighted average price. ### **When to Use?** * When executing a **large order** that might otherwise move the market if placed all at once. * Suitable for **institutional traders or whales** seeking discreet execution with minimal market impact. * When you want steady execution over time, rather than immediate fulfillment at one price. *** ### **Key Points** * Helps minimize slippage and reduce market impact. * Execution is spread out over time at regular intervals. * Full order is usually completed as long as there is sufficient market liquidity. * Focuses on achieving a price close to the **average over time**, not a specific single price. *** ### Key Parameters
ItemExplanation
Total QuantityThe complete amount of the asset you intend to trade over the entire strategy duration
Sub-Order SizeThe size of each individual order slice executed at each interval
Running TimeThe total duration over which the strategy executes all sub-orders
FrequencyHow often sub-orders are placed within the running time. Note: Higher frequency creates smoother execution but requires more market liquidity
RandomizeEach sub-order quantity is automatically adjusted within a range of up to 20% above or below the original quantity
Reduce OnlyOrders can only reduce the size of an existing open position
MarginIndicates whether the order utilizes leveraged positions
# How to Use the TWAP Strategy ## Use the TWAP strategy on the web ### **Spot Trading with TWAP** 1. Navigate to the **Spot Trading** page 2. Select your desired **trading pair** and **position direction** (Buy/Sell) 3. Choose **‘TWAP’** as your order type 4. Enter required parameters: * Total Quantity * Running Time * Frequency 5. Optional settings: * Check **‘Randomize’** to enable randomized order execution * Check **‘Margin’** to use leverage 6. Place your order
*** ### **Futures Trading with TWAP** 1. Navigate to the **Futures Trading** page 2. Select your desired **trading pair** and **position direction** (Buy/Sell) 3. Choose **‘TWAP’** as your order type 4. Enter required parameters: * Total Quantity * Running Time * Frequency 5. Optional settings: * Check **‘Randomize’** to enable randomized order execution * Check **‘Reduce Only’** to exclusively reduce existing positions 6. Place your order
*** ## Use the TWAP strategy on mobile ### **Spot Trading with TWAP** 1. After entering the trading interface via **'Trade'**, click **'Spot'** in the top-left corner 2. Select your desired **trading pair** and **position direction** (Buy/Sell) 3. Choose **‘TWAP’** as your order type 4. Enter required parameters: * Total Quantity * Running Time * Frequency 5. Optional settings: * Check **‘Randomize’** to enable randomized order execution * Check **‘Margin’** to use leverage 6. Place your order
*** ### **Futures Trading with TWAP** 1. After entering the trading interface via '**Trade'**, click '**Futures'** in the top-left corner 2. Select your desired **trading pair** and **position direction** (Buy/Sell) 3. Choose **‘TWAP’** as your order type 4. Enter required parameters: * Total Quantity * Running Time * Frequency 5. Optional settings: * Check **‘Randomize’** to enable randomized order execution * Check **‘Reduce Only’** to exclusively reduce existing positions 6. Place your order
# FAQs
When should you use TWAP? * When placing a large order that might cause price slippage * When markets are volatile and you want to average your entry/exit * When you want to reduce visibility to bots or other traders
Will using the TWAP strategy incur additional fees? Using the TWAP strategy does **not** incur additional fees.\ Users only pay standard trading fees based on actual matched trades.
Is a longer running time and higher frequency always better? Not necessarily. Choose execution duration and frequency based on: | **Setting** | **Advantages** | **Risks** | | -------------------- | ------------------------------------------------------------ | ---------------------------------------------------------------- | | **Longer duration** | - Lower market impact - Closer to average market price | - Exposed to longer volatility - Slower completion | | **Shorter duration** | - Faster execution - Useful for fast markets | - Higher slippage risk - Needs deeper liquidity | | **Higher frequency** | - Smoother execution - Better for high-frequency price moves | - High system request rate - More demand on account/data updates | | **Lower frequency** | - Simpler operations - Potentially lower fees (per order) | - Less smooth - Higher chance of missing market opportunities |
are TWAP orders guaranteed to execute? No. TWAP orders are executed based on market liquidity and may not fill completely if market conditions change.
Are executed TWAP orders considered market or limit orders? TWAP orders are split into smaller **market orders** when executed. Each slice follows the current best bid/ask price with slight adjustments based on your randomization settings.
Can TWAP run across multiple pairs or markets simultaneously? No. Each TWAP strategy instance supports **only one trading pair**.\ To use TWAP across multiple pairs, create **separate strategy instances**.
Under what circumstances could a TWAP strategy fail or be interrupted? TWAP may fail or terminate early due to: * **Insufficient account balance**\ (Cannot place next sub-order) * **Manual cancellation by the user** * **System errors or network issues**\ (Maintenance, data issues, or connectivity disruptions) > After interruption, no new orders will be placed.\ > Check your **strategy history** for filled and unfilled parts.
Does TWAP guarantee execution at or better than the target average price? No. TWAP's goal is to **approximate** the time-weighted average price.\ However, due to real-time **price fluctuations** and **liquidity changes**, final prices may deviate.\ The platform **does not guarantee** a specific execution price. > Proper configuration of time, frequency, and price control parameters can help minimize deviation.
How to view your order history **View Your Order History on Web** 1. On the order entry page, select **‘TWAP’** 2. Select **‘Running’**（To view past orders, click the **‘History’** tab on the right） 3. Click **‘Details’** to view your strategy execution history
**View Your Order History on Mobile** 1. On the order entry page, select **‘TWAP’** 2. Select **‘Running’**（To view past orders, click the **‘History’** tab on the right） 3. Click **‘Details’** to view your strategy execution history
How to terminate your TWAP strategy **Terminate Your TWAP Strategy on Web** 1. On the order entry page, select **‘TWAP’** 2. Click **‘Cancel’** to immediately stop the strategy\ (Unfilled sub-orders will be withdrawn)
**Terminate Your TWAP Strategy on Mobile** 1. On the order entry page, select **‘TWAP’** 2. Click **‘Cancel’** to immediately stop the strategy\ (Unfilled sub-orders will be withdrawn)
# Scaled Order A Scaled Order is a trading strategy that places multiple buy or sell orders at predefined price intervals, either above or below the current market price. This creates a series of smaller orders that scale into or out of a position gradually, rather than executing a single large order. ### **When to Use?** * When you want to **average your entry or exit price** over a range instead of committing at one price point. * Suitable for traders who expect **gradual market movements** or who want to reduce the impact of volatility and slippage. * Often used to **ladder into positions** during uncertain market conditions or to **ladder out** when taking profits. *** ### **Key Points** * Helps reduce the risk of poor timing by spreading orders across different price levels. * Can be configured with the number of orders, price range, and distribution (equal or weighted). * Execution depends on market movements — some or all orders may remain unfilled if the price does not reach those levels. * Useful for both **long-term accumulation strategies** and **short-term trading in volatile markets**. # How to Set a Scaled Order? 1. **Deposit funds into your exchange account (crypto or fiat).** * [Crypto Deposits](/exchange/deposit-and-withdraw/crypto/deposit#how-to-deposit) * [Fiat Deposits](/exchange/deposit-and-withdraw/fiat/how-to-deposit-via-wire) 2. **On the Order Placement page, select the appropriate market (Spot or Futures — here we take Futures as an example).** * Select your desired trading pair (e.g., BTC-PERP) * Choose the trading direction (Buy/Sell) 3. **Select Scaled Order as the order type.** 4. **Enter the required parameters** * Price Range * Order Count(2-50) * Total Quantity 5. **Select the order distribution type** * Flat, Increasing, Decreasing * Click **“Preview”** to review the order 6. **Optional settings** * **Post Only**: Ensures your order is placed as a maker order and does not take liquidity. * **IOC (Immediate or Cancel)**: Executes the order immediately as much as possible; any unfilled portion is canceled. Suitable for quick entries and exits. * **Reduce Only**: Ensures your order will only reduce your existing position and will not open a new position or increase the size of the current position. 7. **Submit the order.**
# FAQs ### **Does placing a Scaled Order count as a market order or a limit order?** A Scaled Order is made up of multiple **limit orders** distributed across a selected price range. It is not a market order. *** ### Scaled Order vs. TWAP
FeatureScaled OrderTWAP (Time-Weighted Average Price)
Execution LogicPlaces multiple limit orders at predefined price intervals within a chosen price range.Splits a large order into smaller market orders when executed evenly over a fixed time period.
Control FactorControlled by price levels.Controlled by time.
Execution GuaranteeExecution not guaranteed – only orders at reached price levels will fill.Full order is typically executed as long as liquidity exists.
Primary ObjectiveCost averaging and laddered entry/exit across multiple price levels.Minimize market impact and achieve an average price over time.
Market DependencyHighly dependent on price movement; orders fill only if the market hits your levels.Less dependent on price movement; trades are executed over time regardless of volatility.
# Take Profit & Stop Loss # Take Profit A Take-Profit (TP) order automatically closes your position once the market price reaches your chosen profit target. It’s designed to help you secure profits without needing to constantly monitor the market. #### Trigger Conditions A Take-Profit order is activated when your selected trigger price source — Latest, Mark, or Index — reaches or exceeds the Take-Profit trigger price you set. * Long (Sell) → Triggered when the market price rises to or above your Take-Profit trigger. * Short (Buy) → Triggered when the market price falls to or below your Take-Profit trigger. Once triggered, the TP order converts into a Market or Limit order depending on the execution type selected. *** #### Execution Types **Take-Profit Market Order** * Executes immediately at the best available market price once triggered. * The final execution price may differ from your trigger price due to slippage or price gaps, especially during high volatility. * Full or partial fills may occur depending on available liquidity. **Take-Profit Limit Order** * Places a limit order at your specified limit price once triggered. * Provides price control, but execution is not guaranteed — if the market reverses quickly, the order may remain partially filled or unfilled. *** #### Parameter Recommendations | Long (Sell) | Trigger Price ≤ Limit Price | Setting the limit price slightly above the trigger price improves the likelihood of execution. | | ----------- | --------------------------- | ---------------------------------------------------------------------------------------------- | | Short (Buy) | Trigger Price ≥ Limit Price | Setting the limit price slightly below the trigger price improves the likelihood of execution. | {% hint style="info" %} **Tip**: Adding a small “spread” between your trigger and limit prices helps balance price control with execution probability. {% endhint %} *** #### Trigger Price Source You can choose which price source triggers your Take-Profit order: * **Mark Price** — Helps avoid false triggers from short-term market spikes. * **Last Traded Price** — More sensitive to price movement but can trigger early in volatile conditions. * **Index Price** — Reflects a weighted average across multiple markets and helps maintain consistent triggering. *** #### Risk Reminder * During high volatility, Market TP orders may execute far from your trigger price. * Limit TP orders may not execute if the price moves away too quickly. * To improve reliability, set a small buffer between your trigger and limit prices. * Ensure your trigger source matches your trading intent (Mark Price recommended for most users). {% hint style="info" %} ### 👉**For details on how to set a take-profit order, please refer to**[ **this page.**](/exchange/trading/futures#how-to-correctly-set-take-profit-and-stop-loss-orders-for-open-positions) {% endhint %} # Stop Loss A Stop-Loss (SL) order automatically closes your position when the market moves against you and reaches your defined loss threshold. It’s designed to help you manage risk and limit potential losses. *** #### Trigger Conditions A Stop-Loss order is activated when your selected trigger price source — Latest, Mark, or Index — reaches or exceeds the stop price you set. * Long (Sell) → Triggered when the market price falls to or below your stop price. * Short (Buy) → Triggered when the market price rises to or above your stop price. Once triggered, the Stop-Loss order converts into either a Market or Limit order based on your chosen execution type. *** #### Execution Types **Stop-Market Order** * Once triggered, the order converts to a market order, executing immediately at the best available price. * The execution price may differ from your stop price due to slippage or price gaps, particularly in fast-moving markets. * Partial fills may occur depending on liquidity at the time of execution. **Stop-Limit Order** * Once triggered, the order becomes a limit order at your specified limit price. * Provides price control, but execution is not guaranteed — if the market continues to move away from your limit price, the order may remain unfilled and fail to provide stop-loss protection. *** #### Parameter Recommendations | Long (Sell) | Trigger Price ≥ Limit Price | Setting the limit price slightly below the trigger price increases the chance of execution during downward movement. | | ----------- | --------------------------- | -------------------------------------------------------------------------------------------------------------------- | | Short (Buy) | Trigger Price ≤ Limit Price | Setting the limit price slightly above the trigger price increases the chance of execution during upward movement. | {% hint style="info" %} **Tip**: Adding a small “spread” between your trigger and limit prices helps improve execution reliability while maintaining price control. {% endhint %} *** #### Trigger Price Source Choose which price source triggers your Stop-Loss order: * **Mark Price** — Reduces the chance of false triggers caused by short-term price spikes. * **Last Traded Price** — More sensitive to rapid market movements but may trigger early during volatility. * **Index Price** — Reflects an aggregated market rate and offers stability during abnormal price fluctuations. *** #### Risk Reminder * During extreme volatility, Stop-Market orders may execute far from your trigger price. * Stop-Limit orders may fail to execute if the market price moves past the limit price too quickly. * In both cases, your position may remain open longer than expected, increasing potential losses. * For most users, Mark Price triggers offer the best balance between stability and timely activation. {% hint style="info" %} ### 👉**For details on how to set a stop loss order, please refer to**[ **this page.**](/exchange/trading/futures#how-to-correctly-set-take-profit-and-stop-loss-orders-for-open-positions) {% endhint %} # Trading Bots ### What is a Grid Bot? A grid bot is an automated trading strategy that places buy and sell orders at predefined price intervals within a set range. It captures profits from price fluctuations without requiring you to predict market direction. The strategy continuously executes “buy low, sell high” across multiple price levels. *** ### How Grid Bots Work The bot splits your selected price range into equal intervals and places orders at each level: * Orders above the current price → **Sell orders** * Orders below the current price → **Buy orders** Example: ``` $110 ─ SELL $108 ─ SELL $106 ─ SELL $104 ─ SELL $102 ─ SELL ──────── Current price: $100 ──────── $98 ─ BUY $96 ─ BUY $94 ─ BUY $92 ─ BUY $90 ─ BUY ``` As the price moves within the range: * Orders are filled * The bot captures the spread as profit Example: * Grid spacing = $2 * Buy at $98 → Sell at $100 → Profit = $2 per cycle *** ### When Grid Bots Work Best | Condition | Grid Bot Performance | | -------------------------------- | -------------------------------------------- | | **Sideways/ranging market** | ✅ Ideal — frequent fills, steady profits | | **High volatility within range** | ✅ Good — more trading opportunities | | **Strong trending market** | ⚠️ Poor — price breaks out of range | | **Low volatility** | ⚠️ Poor — few orders fill, capital sits idle | > **Key insight:** Grid bots profit from prices bouncing within a range, not from predicting direction. They work best in choppy, sideways markets. *** ### How the System is Structured **Bot Structure** Grid bots run inside a dedicated subaccount: ``` User Account └─► Subaccount (dedicated to grid trading) └─► Automation / Bot (one per subaccount) ├─► Grid 1: SOL_USDC (own range, levels, allocation) ├─► Grid 2: ETH_USDC (own range, levels, allocation) └─► Grid 3: BTC_USDC (own range, levels, allocation) ``` **Key Rules** * **One subaccount = one bot**\ Each subaccount supports only **one active automation**. * **One bot can manage multiple symbols**\ A single bot can run grids across different symbols (e.g., SOL, ETH, BTC). * **SL/TP controls**\ Each grid can have its own direction(Perpetuals Only) and **symbol-level** SL/TP settings. * **Subaccount isolation**\ Grid trading is isolated from manual trading in other subaccounts. * **Independent automation requires separate subaccounts**\ To run fully independent bots (with separate leverage settings), use different subaccounts. **Limits** * Grid levels: **4–200** *** ### Risk Warnings #### Market Risks * **Price Breaks Out of Range** — If price moves outside the grid range and stays there, one side fills and leaves you holding a position with unrealised PnL.\ **Mitigation:** Use stop loss, enable trailing if available, and set realistic ranges. Lower Stop and Upper Stop can auto-stop the grid when price exits the range. * **Low Volatility** — Few or no fills occur, resulting in little or no profit while capital remains idle.\ **Mitigation:** Match your grid range to expected market volatility. * **Market Gaps** — Sudden price jumps (e.g., news or maintenance) may cause orders to fill at unfavourable prices, leading to immediate unrealised losses.\ **Mitigation:** Use stop loss, avoid illiquid markets, and monitor major events. * **Liquidation Risk (Perpetual Grids)** — Leverage amplifies losses. If the market moves sharply against an open position, the subaccount may be liquidated, closing positions at unfavourable prices.\ **Mitigation:** Use conservative leverage, set stop loss, and monitor margin usage. * **Correlated Symbols** — Running multiple grids on correlated assets (e.g., SOL, ETH, BTC) can lead to simultaneous drawdowns. #### **Operational Risks** * **Transferring Assets During a Run** — * For **perpetual grids**, removing collateral from the subaccount reduces equity and lowers your margin ratio, which can trigger exchange **liquidation** of open positions. This is independent of the bot's symbol-level SL/TP. * For **spot grids**, removing base asset reduces the coverage available to fill sell orders, which can leave parts of the grid unable to place orders until the deficit is resolved. > ⚠️ **Disclaimer:** Trading bots involve significant risk. You may lose some or all of your invested capital. Past performance does not guarantee future results. This documentation explains how the feature works and does not constitute financial advice or a recommendation to use this product. # Spot Grid ### **Why two assets are required** A spot grid requires both: * **Quote asset** (e.g., USDC) → for buy orders * **Base asset** (e.g., BTC) → for sell orders Orders are pre-calculated based on: * Price range * Grid count * Total investment ### **What is a Deficit?** A deficit is the missing base asset required to place all sell orders. **Example:** * Grid: BTC/USDC, range $90–$110 * Current price: $100 * Required BTC for sell orders: 0.5 BTC * Available: 0.2 BTC → Deficit = **0.3 BTC** **Deficit Status** * **Deficit = 0** → No action needed * **Deficit > 0** → You must choose a funding method ### **Funding Options: Borrow Mode vs Buy Mode** | | Borrow Mode | Buy Mode | | ------------ | ----------------- | ------------------------- | | How it works | Borrow base asset | Buy base asset using USDC | | Upfront cost | None | Reduces USDC immediately | | Ongoing cost | Interest accrues | None | {% hint style="info" %} **Note:**\ Buy Mode uses M`ax Entry Price` to cap purchase price (default ≈ 1% above current price). {% endhint %} **Auto Selection Logic** The system selects the funding mode automatically: * Enough base asset → No funding * Only one mode available → Uses that mode * Both available → Defaults to **Borrow Mode** (can switch manually) --- [Next Page](/llms-full.txt/1)