Why Can't I Open a Commodities Position?

Question

Accepted Answer

Check four things: the market is open, your USD Margin (Commodities) wallet has enough Est. Available for the margin, your margin level isn't at or near the 70% second warning, and you've completed Global & Yield Asset Verification and accepted the Commodities Trading Rules. Any one of these can stop a new order.

Symptom / ConditionPossible CauseSolution
  You're trying Commodities for the first time and can't place your first orderYou haven't accepted the Commodities Trading Rules yet. The first time you tap Buy (Long) or Sell (Short), a Disclaimer appears, and you need to tap ConfirmTap Buy (Long) or Sell (Short), then tap Confirm on the Disclaimer to agree to the Commodities Trading Rules. Your Commodities account is set up automatically within seconds, with no separate wallet-activation step. Then try again.
  You have funds in Pluang, but the order still can't go throughCommodities trades use USD Margin (Commodities). The order page can cover a shortfall from your other balances, in the order shown under Est. Available, but only if those balances hold enough too. Here, Est. Available is lower than the Est. Margin Required for the lots you enteredEnter fewer lots, or add funds to USD Margin (Commodities): move USD from USD Cash, or convert from your Rupiah balance. You can also keep enough in your other balances to cover the shortfall.
  You're trying to trade on a weekend, early on Monday morning, or during a daily trading breakThe market is closed, and you can't place orders while it's closed. Commodities trades Monday 06.00 to Saturday 05.00 WIB. Gold and silver pause daily 05.00–06.00 WIB, and Brent crude pauses 05.00–08.00 WIB, Tuesday to Friday. During US Daylight Saving Time, every time is one hour earlier (Monday 05.00 to Saturday 04.00 WIB)Try again once the market is open.
  You already have open positions and new orders are blockedYour margin level fell to the 70% second-warning level or below. New orders that add risk are blocked until your margin level is back above 80%Add funds to USD Margin (Commodities), or reduce or close positions, to bring your margin level back above 80%.
  Your margin level is above 70%, but a new order is rejectedThe new order would push your margin level below 70%, so it may be blockedEnter fewer lots, or add funds first.
  The app tells you your order is too largeYour order is above the maximum order sizeEnter fewer lots, then try again.
  Your order shows as FailedThe order couldn't be filled in full at the moment it was executed, for example a Limit or Stop order whose price was reached in a fast market. When this happens, nothing is filledCheck the current price, then place the order again.
  You can see Commodities, but you can't tradeYour Global & Yield Asset Verification isn't complete. It's required before you can tradeComplete Global & Yield Asset Verification in the Pluang app, then try again.
  You can't find Commodities in the app at allYour app isn't on the latest version, or Commodities is rolling out gradually and hasn't reached your account yetUpdate the app. See the separate article on why Commodities isn't showing in your app.

If the issue persists:Contact Pluang Care via live chat in the Pluang app, email tanya@pluang.com, or call (021) 8063 0065 (Monday to Friday, 09:00–18:00 WIB). Include the instrument, the number of lots you entered, your USD Margin (Commodities) balance, and a screenshot of what you see.

Related questions:
Q: How much do I need to open 1 lot?Margin is exposure divided by leverage. At illustrative prices (gold US$4,300, silver US$70, Brent US$80), 1 lot needs about US$43, US$35 and US$16. The order page shows the exact Est. Margin Required at the live price, which can be slightly higher than this simple calculation.
Q: What is the margin call level?80%. That's the first warning, and your positions stay open. At 70% you get a second warning, and new orders that add risk are blocked until your margin level is back above 80%. You can still add funds and reduce or close positions.
Q: Should I deposit only the exact margin for 1 lot?It's better not to. As an illustration, with US$45 deposited for 1 lot of gold at US$4,300, the 80% margin call would come after a fall of about US$10. With US$100, gold would need to fall to about US$4,234.51.
Q: Is there a maximum number of lots?Yes. The minimum is 1 lot. There's also a maximum order size, and the app tells you if an order is too large. Every extra lot needs more margin, and an order that would push your margin level below 70% may be blocked.
Q: Why does my order show as Failed?Sometimes an order can't be filled in full at the moment it's executed, for example a Limit or Stop order when its price is reached in a fast market. It then shows as Failed, nothing is filled, and you can place it again.
Q: Can I place an order while the market is closed?No. You can't place orders while the market is closed. Commodities trades Monday 06.00 to Saturday 05.00 WIB. Gold and silver pause daily 05.00–06.00 WIB, and Brent crude pauses 05.00–08.00 WIB, Tuesday to Friday. During US Daylight Saving Time, every time is one hour earlier (Monday 05.00 to Saturday 04.00 WIB).

Symptom / Condition	Possible Cause	Solution
You're trying Commodities for the first time and can't place your first order	You haven't accepted the Commodities Trading Rules yet. The first time you tap Buy (Long) or Sell (Short), a Disclaimer appears, and you need to tap Confirm	Tap Buy (Long) or Sell (Short), then tap Confirm on the Disclaimer to agree to the Commodities Trading Rules. Your Commodities account is set up automatically within seconds, with no separate wallet-activation step. Then try again.
You have funds in Pluang, but the order still can't go through	Commodities trades use USD Margin (Commodities). The order page can cover a shortfall from your other balances, in the order shown under Est. Available, but only if those balances hold enough too. Here, Est. Available is lower than the Est. Margin Required for the lots you entered	Enter fewer lots, or add funds to USD Margin (Commodities): move USD from USD Cash, or convert from your Rupiah balance. You can also keep enough in your other balances to cover the shortfall.
You're trying to trade on a weekend, early on Monday morning, or during a daily trading break	The market is closed, and you can't place orders while it's closed. Commodities trades Monday 06.00 to Saturday 05.00 WIB. Gold and silver pause daily 05.00–06.00 WIB, and Brent crude pauses 05.00–08.00 WIB, Tuesday to Friday. During US Daylight Saving Time, every time is one hour earlier (Monday 05.00 to Saturday 04.00 WIB)	Try again once the market is open.
You already have open positions and new orders are blocked	Your margin level fell to the 70% second-warning level or below. New orders that add risk are blocked until your margin level is back above 80%	Add funds to USD Margin (Commodities), or reduce or close positions, to bring your margin level back above 80%.
Your margin level is above 70%, but a new order is rejected	The new order would push your margin level below 70%, so it may be blocked	Enter fewer lots, or add funds first.
The app tells you your order is too large	Your order is above the maximum order size	Enter fewer lots, then try again.
Your order shows as Failed	The order couldn't be filled in full at the moment it was executed, for example a Limit or Stop order whose price was reached in a fast market. When this happens, nothing is filled	Check the current price, then place the order again.
You can see Commodities, but you can't trade	Your Global & Yield Asset Verification isn't complete. It's required before you can trade	Complete Global & Yield Asset Verification in the Pluang app, then try again.
You can't find Commodities in the app at all	Your app isn't on the latest version, or Commodities is rolling out gradually and hasn't reached your account yet	Update the app. See the separate article on why Commodities isn't showing in your app.