What Is the Bid-Ask Spread on US ETFs, and How Does It Affect My Orders on Pluang?
The bid-ask spread is the gap between what buyers bid and what sellers ask for an ETF, and on Pluang it is a market cost, separate from Pluang's transaction fee. 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. A Market Order buys near the ask and sells near the bid, while a Limit Order lets you set the price you accept.
What affects the spread
| Factor | Spread is usually narrower | Spread is usually wider |
|---|---|---|
| Trading volume | Heavily traded funds, such as SPY or QQQ | Thinly traded, niche funds |
| Time of day | The middle of the regular session | Near the open and close, and outside regular hours |
| Market conditions | Calm markets | Fast-moving or volatile markets |
For example, if an ETF's bid is US$500.00 and its ask is US$500.05, the spread is US$0.05 per unit. Buying and selling straight away would cost about that amount before any price change, on top of Pluang's fees.
The price you see in the app is a reference. Your actual price is set when the order executes, which can differ from the last price on screen, especially when the market is moving fast. A Limit Order executes only at your price or better, but it may not fill if the market never reaches that price.
Learn more: how a Limit Order works (in Indonesian) and the reference price for US Stocks.
Related questions:
Q: Is the bid-ask spread a fee charged by Pluang?
No. The spread comes from buyers and sellers in the market. Pluang's fees are the transaction fee, VAT, the JFX & KBI fee and small US regulatory fees on sales.
Q: How can I reduce the effect of the spread?
Use a Limit Order to set the price you are willing to pay or accept, and trade heavily traded ETFs during regular hours, when spreads tend to be narrower.
Q: Is the spread wider in the 24-Hour Market?
It can be. Fewer buyers and sellers are active outside regular hours, so prices can be less steady and spreads wider than in the regular session.
Q: Why did my Market Order fill at a different price from the one I saw?
The price on screen is a reference. A Market Order executes at the market price when it reaches the market, which can move between the moment you see a price and the moment your order fills.
Last updated: 6 November 2026