Are US Stocks on Pluang CFDs?
No, US Stocks on Pluang are not CFDs (contracts for difference): every order is forwarded to the US market through PALN (Penyaluran Amanat Luar Negeri), the forwarding of orders overseas. US Stocks and ETFs on Pluang are facilitated by PT PG Berjangka, a Financial Derivatives Trading Intermediary for derivative products with securities as the underlying asset, licensed and supervised by OJK. Each transaction is recorded on the Jakarta Futures Exchange (JFX) and cleared through Kliring Berjangka Indonesia (KBI), and the US broker Alpaca Securities LLC executes the order and holds the shares in segregated accounts.
CFD compared with US Stocks on Pluang
| A typical CFD | US Stocks on Pluang | |
|---|---|---|
| Is your order sent to the stock market? | No; you settle the price difference with the provider | Yes; forwarded through PALN and executed by Alpaca Securities LLC |
| Who holds the shares? | Usually no shares are bought for your trade | Alpaca holds the shares in segregated accounts |
| Indonesian record of the trade | Depends on the provider | Recorded on JFX and cleared through KBI |
| What your position is | A contract on the price difference | A financial derivative contract through PT PG Berjangka that follows the US stock price |
| Dividends | Often an adjustment by the provider | Paid on eligible positions, after withholding tax |
| Shareholder voting rights | No | No |
What this means for you
Your position on Pluang is a financial derivative contract through PT PG Berjangka that follows the price of the US stock, so price movements and dividends pass through to you, but shareholder voting rights do not. The difference from a CFD is how the trade is carried out: your order is forwarded to the US market and backed by shares held at Alpaca, not settled only as a price difference with the provider. During regular hours, orders go to NYSE or Nasdaq; in the 24-Hour Market, eligible stocks are traded through BlueOcean, a US venue operating outside regular hours.
Prices of US stocks and ETFs can go up or down, and past performance does not predict future results. Leverage, where you use it, increases both gains and losses.
Learn more: how your money is protected in US Stocks on Pluang and what US Stock ownership status means on Pluang.
Related questions:
Q: What is a CFD?
A CFD, or contract for difference, is an agreement to exchange the difference in an asset's price between when you open and close the position, usually settled with the provider without buying the asset in the market. US Stocks on Pluang work differently: each order is forwarded to the US market through PALN.
Q: Do I own the shares directly when I buy US Stocks on Pluang?
Not directly. Alpaca Securities LLC holds the shares in segregated accounts, and your position is a financial derivative contract through PT PG Berjangka that follows the price of the US stock. Price movements and dividends pass through to you, but shareholder voting rights do not.
Q: Who regulates US Stocks on Pluang?
PT PG Berjangka facilitates US Stocks and ETFs on Pluang and is licensed and supervised by OJK as a Financial Derivatives Trading Intermediary. On the US side, Alpaca Securities LLC is a broker regulated by the SEC and FINRA.
Q: Are leveraged US Stock positions CFDs?
No. Leveraged US Stock orders on Pluang are also forwarded to the US market through PALN. Leverage increases both gains and losses, and leveraged positions have their own fees and margin rules, shown in the app before you trade.
Last updated: 6 November 2026