Paper Trading Buying Power No Longer Including Margin

My paper trading account just as of today no longer reflects the margin multiplier (checked and is 4x in config settings). This just happened today, worked fine yesterday

I have the same issue today. I’ve opened a support ticket but haven’t heard back.

@RayFinkle954 @bgrobertson apologies for the buying power issue. This just surfaced today, and the engineering team is working on a fix and to understand the cause. I’ll post back with any updates.

Hi everyone, I am also experiencing the same issue from today where Buying Power No Longer Includes Margin. Additionally, if I try to change the “Max Margin Multiplier” selection from the paper account settings, the update is not actually saved or applied. Even though “Shorting Enabled” shows as active on the dashboard, the data returned when querying the account via API is completely different.

I also tried to open some short positions, and my trading bot logs returned the following error message:
{"code":40310000,"message":"account is not allowed to short"}

This happens even though the setting on the dashboard is active (true). However, as you can see from the raw API response below, it is actually set to “false” ("shorting_enabled":false) and the multiplier is set to 1 ("multiplier":"1"), which is completely inconsistent.

I am attaching the raw response below:

=========== RAW ACCOUNT ===========

HTTP: 200
{“id”:“694c678c-0c81-4237-a0ca-682e3855e7d1”,“admin_configurations”:{},“user_configurations”:{“fractional_trading”:true,“max_margin_multiplier”:“4”,“trade_confirm_email”:“all”},“account_number”:“PA3O7Z4NSUJC”,“status”:“ACTIVE”,“crypto_status”:“ACTIVE”,“options_approved_level”:3,“options_trading_level”:3,“currency”:“USD”,“buying_power”:“100063.66”,“regt_buying_power”:“100063.66”,“effective_buying_power”:“100063.66”,“non_marginable_buying_power”:“100063.66”,“options_buying_power”:“100063.66”,“cash”:“100063.66”,“accrued_fees”:“0”,“portfolio_value”:“100063.66”,“trading_blocked”:false,“transfers_blocked”:false,“account_blocked”:false,“created_at”:“2025-12-16T10:11:58.791114Z”,“trade_suspended_by_user”:false,“multiplier”:“1”,“shorting_enabled”:false,“equity”:“100063.66”,“last_equity”:“0”,“long_market_value”:“0”,“short_market_value”:“0”,“position_market_value”:“0”,“initial_margin”:“0”,“maintenance_margin”:“0”,“last_maintenance_margin”:“0”,“sma”:“0”,“balance_asof”:“2026-07-21”,“crypto_tier”:1,“intraday_adjustments”:“0”,“pending_reg_taf_fees”:“0”}

===================================

Thank for support.

Flavio


@Flavio_De_Pedis Apologies. Something is wrong with paper accounts which engineering is looking at and will get fixed but no ETA currently,

@Dan_Whitnable_Alpaca At this time the problem seems to be solved

Thanks for support

@Flavio_De_Pedis The buying power issue with paper accounts should be fixed. The problem stemmed from the previous account equity not being updated and left blank, coupled with a bug that set the margin multiplier to 0 instead of 1 if the account equity was 0. This resulted in a margin multiplier of zero which confused a number of calculations including buying power.

Again apologies for this interruption.