What Is 4x Day Trade Leverage on Pluang US Stocks?

4x Day Trade is Pluang's intraday leverage option for US Stocks, raising your purchasing power to four times the margin you commit. Its defining constraint is that it cannot be held overnight: you are required to close the position 30 minutes before the exchange closes, at 03:30 WIB under standard time or 02:30 WIB during US Daylight Saving Time. Anything still open at that point is sold automatically at market price, and any stop loss, take profit or limit orders you placed on that position are overridden by the auto-close. Because the position never survives the market close, it is never charged the Daily Leverage Fee — which is levied only on 2x positions held past close. For the same reason, a 4x Day Trade position is not eligible for dividends.

• Purchasing power: Four times the margin you commit — a $100 margin supports roughly $400 of exposure.
• Intraday only: The position cannot be held overnight; it must be closed before the exchange closes.
• Auto-close time: 03:30 WIB under standard time, 02:30 WIB during US Daylight Saving Time — 30 minutes before close.
• Pending orders overridden: Stop loss, take profit and limit orders on the position are superseded by the market-price auto-close.
• No Daily Leverage Fee: Because it never survives the close, 4x Day Trade is never charged the Daily Leverage Fee.
• No dividend entitlement: A position that does not survive the close is not eligible for dividends.

Related questions:

Q: What happens if I don't close my 4x Day Trade position in time?
Pluang closes it for you. Thirty minutes before the exchange closes — 03:30 WIB standard time, 02:30 WIB during Daylight Saving — every open 4x Day Trade position is sold using a market order. That means execution at whatever price is available rather than a price you chose, so the outcome depends on where the market happens to be at that moment.

Q: Do my stop loss and take profit orders still apply at auto-close?
No. The auto-close overrides them. Any stop loss, take profit or limit orders you previously placed on that 4x Day Trade position are superseded when Pluang sells the position at market price. If you want a specific exit price rather than the market price at auto-close, you need to close the position yourself before the 30-minute cut-off arrives. Planning that exit in advance is the only reliable way to control where a Day Trade position ends.

Q: Why is 4x Day Trade never charged the Daily Leverage Fee?
The Daily Leverage Fee applies specifically to 2x leveraged positions still held after the market closes, and is charged every calendar day the position stays open. A 4x Day Trade position by definition never survives the close, so the condition that triggers the fee is never met. That makes intraday cost lower, but it does not reduce the risk from the larger 4x exposure.

Q: Can I get dividends on a 4x Day Trade position?
No. Dividend entitlement depends on holding the position through the relevant record date, and a 4x Day Trade position is force-closed before every market close. Only 2x leveraged positions held overnight can be dividend-eligible, and those are subject to a 30% withholding tax on the dividend amount as well as the Daily Leverage Fee for each day held. If dividend income matters to your strategy, 4x Day Trade is not the right instrument for it.