diff --git a/app/routers/ingestion.py b/app/routers/ingestion.py
index 18c42e0..1a94512 100644
--- a/app/routers/ingestion.py
+++ b/app/routers/ingestion.py
@@ -114,8 +114,9 @@ async def fetch_symbol(
             result = await ingestion_service.fetch_and_ingest(
                 db, provider, symbol_upper, start_date, end_date
             )
+            status_map = {"complete": "ok", "partial": "ok", "no_data": "warning"}
             sources_out["ohlcv"] = {
-                "status": "ok" if result.status in ("complete", "partial") else "error",
+                "status": status_map.get(result.status, "error"),
                 "records": result.records_ingested,
                 "message": result.message,
             }
diff --git a/app/services/ingestion_service.py b/app/services/ingestion_service.py
index 826a6db..94bd4b2 100644
--- a/app/services/ingestion_service.py
+++ b/app/services/ingestion_service.py
@@ -30,7 +30,7 @@ class IngestionResult:
     symbol: str
     records_ingested: int
     last_date: date | None
-    status: str  # "complete" | "partial" | "error"
+    status: str  # "complete" | "partial" | "error" | "no_data"
     message: str | None = None
 
 
@@ -143,6 +143,31 @@ async def fetch_and_ingest(
             message=str(exc),
         )
 
+    # Provider returned nothing. With no history at all this almost always means
+    # the provider doesn't cover this symbol (Alpaca = US listings only) — surface
+    # that instead of a misleading "success". With existing bars it just means
+    # there were no new bars in the requested window.
+    if not records:
+        existing = await _get_ohlcv_bar_count(db, ticker.id)
+        if existing == 0:
+            return IngestionResult(
+                symbol=ticker.symbol,
+                records_ingested=0,
+                last_date=None,
+                status="no_data",
+                message=(
+                    "No data returned by the provider — it may not cover this symbol "
+                    "(Alpaca serves US-listed securities only)."
+                ),
+            )
+        return IngestionResult(
+            symbol=ticker.symbol,
+            records_ingested=0,
+            last_date=None,
+            status="complete",
+            message="Already up to date — no new bars.",
+        )
+
     # Sort records by date to ensure ordered ingestion
     records.sort(key=lambda r: r.date)
 
diff --git a/frontend/src/api/ingestion.ts b/frontend/src/api/ingestion.ts
index 6fc6410..02fbb1c 100644
--- a/frontend/src/api/ingestion.ts
+++ b/frontend/src/api/ingestion.ts
@@ -1,7 +1,7 @@
 import apiClient from './client';
 
 export interface IngestionSourceResult {
-  status: 'ok' | 'error' | 'skipped';
+  status: 'ok' | 'error' | 'skipped' | 'warning';
   message?: string | null;
   records?: number;
   classification?: string;
diff --git a/frontend/src/lib/ingestionStatus.ts b/frontend/src/lib/ingestionStatus.ts
index 821b913..60dc6e5 100644
--- a/frontend/src/lib/ingestionStatus.ts
+++ b/frontend/src/lib/ingestionStatus.ts
@@ -25,6 +25,9 @@ export function summarizeIngestionResult(
     if (info.status === 'ok') {
       return `${label} ✓`;
     }
+    if (info.status === 'warning') {
+      return `${label} ⚠${info.message ? `: ${info.message}` : ': no data'}`;
+    }
     if (info.status === 'skipped') {
       return `${label}: skipped${info.message ? ` (${info.message})` : ''}`;
     }
@@ -32,8 +35,10 @@ export function summarizeIngestionResult(
   });
 
   const hasError = entries.some(([, source]) => source.status === 'error');
+  const hasWarning = entries.some(([, source]) => source.status === 'warning');
   const hasSkip = entries.some(([, source]) => source.status === 'skipped');
-  const toastType: IngestionToastType = hasError ? 'error' : hasSkip ? 'info' : 'success';
+  // A warning (e.g. 0 bars returned) must not read as success.
+  const toastType: IngestionToastType = hasError ? 'error' : hasWarning || hasSkip ? 'info' : 'success';
 
   return {
     toastType,
diff --git a/tests/unit/test_ingestion_service.py b/tests/unit/test_ingestion_service.py
new file mode 100644
index 0000000..caec764
--- /dev/null
+++ b/tests/unit/test_ingestion_service.py
@@ -0,0 +1,62 @@
+"""Tests for the ingestion service — honest reporting of empty provider fetches."""
+
+from __future__ import annotations
+
+from datetime import date, timedelta
+
+import pytest
+
+from app.models.ticker import Ticker
+from app.providers.protocol import OHLCVData
+from app.services import ingestion_service as svc
+from tests.conftest import MockMarketDataProvider, _test_session_factory  # type: ignore
+
+
+@pytest.fixture
+async def session():
+    async with _test_session_factory() as s:
+        yield s
+
+
+async def _add_ticker(session, symbol: str) -> None:
+    session.add(Ticker(symbol=symbol))
+    await session.commit()
+
+
+def _bars(symbol: str, n: int) -> list[OHLCVData]:
+    today = date.today()
+    return [
+        OHLCVData(ticker=symbol, date=today - timedelta(days=i),
+                  open=100.0, high=101.0, low=99.0, close=100.0, volume=1000)
+        for i in range(n)
+    ]
+
+
+async def test_empty_fetch_on_new_ticker_reports_no_data(session):
+    # A non-US symbol (e.g. RHM/Rheinmetall) Alpaca doesn't cover → empty bars.
+    # This must NOT report success; it surfaces as no_data.
+    await _add_ticker(session, "RHM")
+    result = await svc.fetch_and_ingest(session, MockMarketDataProvider(ohlcv_data=[]), "RHM")
+
+    assert result.status == "no_data"
+    assert result.records_ingested == 0
+    assert "provider" in (result.message or "").lower()
+
+
+async def test_happy_path_ingests_bars(session):
+    await _add_ticker(session, "AAA")
+    result = await svc.fetch_and_ingest(session, MockMarketDataProvider(ohlcv_data=_bars("AAA", 3)), "AAA")
+
+    assert result.status == "complete"
+    assert result.records_ingested == 3
+
+
+async def test_empty_fetch_with_existing_history_is_up_to_date(session):
+    # Covered ticker, just no new bars in the window → complete, not no_data.
+    await _add_ticker(session, "BBB")
+    await svc.fetch_and_ingest(session, MockMarketDataProvider(ohlcv_data=_bars("BBB", 2)), "BBB")
+
+    result = await svc.fetch_and_ingest(session, MockMarketDataProvider(ohlcv_data=[]), "BBB")
+
+    assert result.status == "complete"
+    assert result.records_ingested == 0