Question 1

What is unfair trade?

Accepted Answer

In US stock trading, the following transactions are prohibited. If we and AlpacaJapan Co., Ltd. determine that you have engaged in or are suspected of engaging in any of the following transactions, we may restrict your trading.

* Layering/Spoofing: Similar to "spoofing" in Japanese stock trading. This refers to placing buy or sell orders without the intention of execution, with the aim of misleading other investors into believing that the market price was formed naturally and enticing them into trading.

* Closing Price Marking: Similar to "closing price manipulation" in Japanese stock trading. This refers to placing large or repeated orders during a specific time period, including the end of trading, with the aim of raising (lowering) or maintaining a constant closing price for a particular stock.

* Wash Trading and Proprietary Trading: Similar to "virtual trading" and "collusive trading" in Japanese stock trading. This refers to transactions where the same person places both buy and sell orders at the same time and price, without the intention of transferring rights, with the aim of misleading other investors into believing that trading of a particular stock is active and enticing them into trading.

* Insider Trading
Customers who work for the Japanese subsidiary of a U.S. company, or for a Japanese company with a capital relationship with a U.S. company, or who are in a position to have access to undisclosed material information about a U.S. company, may be subject to U.S. insider trading regulations.
When trading, please ensure that you do not possess any undisclosed material information about the U.S. company in question.

* Other Suspicious Transactions
In addition to the above, the following order methods may constitute unfair trading:
* Dividing a large order into many smaller orders and placing them separately
* Entering an order, then canceling it, and then entering the same order again

Question 2

I'd like to know the transaction fees.

Accepted Answer

There are no transaction fees or exchange fees for trading with Woodstock/AlpacaJapan Co., Ltd.

There are also no balance fees or withdrawal fees.

For details, please refer to the pre-contractual disclosure document provided by AlpacaJapan Co., Ltd.

Question 3

Why is the amount I can withdraw less than my wallet balance?

Accepted Answer

The proceeds from the sale of US stocks will be reflected in your withdrawable balance on the later of the following two domestic business days (the domestic trade date) or the US settlement date (the US settlement date).

Furthermore, if you have a completed sell order before the domestic settlement date, the withdrawable balance may be lower than the actual settlement amount due to the collection of taxes (capital gains tax) in your specified account.

Once the domestic settlement date arrives, the amount of tax to be collected or refunded will be finalized and reflected in your withdrawable balance.

However, if the domestic settlement date is the first business day of the month, the reflection in your withdrawable balance will occur on the next business day (the second business day of the month).

Please also refer to the "About Withdrawals" section on the Alpaca Securities website.

https://sec.alpaca.ai/guide/common/about-withdrawal/

Question 4

I want to withdraw the money I received from selling my items.

Accepted Answer

To withdraw funds, tap the "Withdrawal" button on the wallet screen and follow these steps to request a withdrawal:

Wallet > Enter withdrawal amount > Tap the "Confirm Input" button > Tap "Request Withdrawal"

*There may be times when the available withdrawal amount is less than your wallet balance. For details, please refer to "Why is the available withdrawal amount less than my wallet balance?"

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