What Is a Margin Call on Leveraged US Stocks at Pluang?

A margin call is the state your USD Margin wallet enters when your Margin Level — Equity divided by the margin in use — falls to between 70% and 99%. It is a warning stage rather than a penalty: it signals that your wallet's live value no longer comfortably covers the margin your open leveraged positions require. While you are in it, two restrictions apply. You cannot open new positions, and your Withdrawable Cash is $0, so no funds can be taken out of the wallet. If prices keep moving against you and your Margin Level falls below 30%, forced liquidation begins: Pluang automatically sells your positions, starting with the largest loss first, until the Margin Level is back at 70%. Note that 70% still sits inside margin call territory, so the account is not fully clear at that point.

• Margin call threshold: Margin Level between 70% and 99% — Equity divided by the margin in use.
• What it signals: Your wallet's live value no longer comfortably covers the margin your open positions require.
• Restriction 1: You cannot open new leveraged positions while in a margin call.
• Restriction 2: Withdrawable Cash is $0 — no funds can be taken out of the wallet.
• Forced liquidation threshold: Margin Level below 30% triggers automatic selling.
• How liquidation runs: Pluang auto-sells starting with the largest loss first, until Margin Level reaches 70%.
• After liquidation: At ~70% you are still inside margin call territory, so further action is needed to reach 100%.

Related questions:

Q: What exactly triggers a margin call?
Your Margin Level falling into the 70% to 99% band. Margin Level is Equity divided by the margin committed to positions and orders. Because Equity includes unrealised profit and loss, a decline in the market value of your open positions lowers Equity and therefore the ratio. No action on your part is needed to enter a margin call — price movement alone can do it.

Q: What can and can't I do once I'm in a margin call?
Two things stop. You cannot open new leveraged positions, and your Withdrawable Cash drops to $0, so nothing can be withdrawn from the USD Margin wallet. What you can still do is add funds to the wallet or close existing positions — the two routes back to a 100% Margin Level. Your existing positions are not closed for you at this stage.

Q: What happens if my Margin Level keeps dropping?
Below 30%, forced liquidation begins. Pluang automatically sells your leveraged positions, working from the largest loss first, and continues until the Margin Level is restored to 70%. This is an automatic protective mechanism rather than a discretionary decision, and it means positions can be closed at prices you did not choose. Acting before the level reaches 30% is the only way to keep that choice in your own hands.

Q: Am I safe once forced liquidation finishes?
Not entirely. Liquidation stops once the Margin Level reaches around 70%, which is still the bottom of margin call territory rather than the healthy 100% level. The restrictions on opening new positions and on withdrawals continue to apply, and further action — adding funds or closing more positions — is needed to return the account to a healthy state. Until you reach 100%, new positions and withdrawals both remain blocked.