What Is Withdrawable Cash on USD Margin at Pluang?

Withdrawable Cash is the amount you can take out of your USD Margin wallet: the smaller of your Balance and Equity, minus the margin in use, so unrealised gains never add to it and unrealised losses reduce it. It is deliberately not the same as your Balance. Your Balance shows everything sitting in the wallet, including the margin currently committed to keeping your open leveraged positions alive — money that is doing a job and cannot leave. Withdrawable Cash strips that out and shows only what is genuinely free. Because it uses the lower of your Balance and Equity, it responds to market movement: when your open positions carry unrealised losses, Withdrawable Cash falls even though your Balance has not changed. During a margin call, when your Margin Level sits between 70% and 99%, Withdrawable Cash is $0 and nothing can be taken out until the level recovers.

• Equity is a margin figure, not your portfolio total. The Equity shown on your USD Margin wallet — Balance plus unrealised profit or loss — is what Margin Level is calculated from. In your portfolio totals, leveraged US Stocks count at your own money plus unrealised profit or loss, and any unused wallet balance shows under Cash. The Leverage tab under Assets still headlines your full position value as Leveraged US Stocks Value, with your own share shown below it as Equity Value.
• Definition: The amount you can withdraw from USD Margin: Min(Balance, Equity) minus the margin in use.
• Not the same as Balance: Balance includes margin committed to open positions; Withdrawable Cash excludes it.
• What it represents: Only the portion of the wallet that is genuinely free to leave.
• It moves with the market: Unrealised losses on open positions reduce it even when your Balance is unchanged.
• Why it is capped this way: Withdrawing more would push your Margin Level below the 100% healthy threshold.
• During a margin call: At Margin Level 70%–99% it is $0 — nothing can be withdrawn until the level recovers.
• Where to see it: It is displayed in the USD Margin wallet alongside Balance, Equity and Free Margin.

Related questions:

Q: Why isn't my whole Balance withdrawable?
Because part of it is committed as margin backing your open leveraged positions. That margin is what keeps those positions alive, so it cannot leave the wallet while they remain open. Balance shows everything in the wallet; Withdrawable Cash shows only the unencumbered portion. Closing a leveraged position releases the margin it was holding and increases what is withdrawable. The two figures converge again once no leveraged positions remain open.

Q: Why does Withdrawable Cash change when I haven't moved any money?
Because it uses the lower of your Balance and Equity, and Equity reflects live market prices. When your open positions move into unrealised loss, your Equity falls, your Margin Level falls with it, and Withdrawable Cash shrinks accordingly. Your Balance is unaffected by price moves, so the two figures drift apart when an open position is in unrealised loss, while an unrealised gain never adds to Withdrawable Cash. Checking both together tells you how much of the gap is market-driven.

Q: What is the 100% Margin Level threshold about?
It is the level Pluang treats as healthy. At 100% or above you can open new positions and withdraw your Withdrawable Cash. Between 70% and 99% you are in a margin call: no new positions and no withdrawals. Below 30%, forced liquidation begins and Pluang auto-sells from your largest loss first until the level returns to 70%. Note that 70% is still inside margin call territory rather than a full recovery.

Q: Where do I see this figure in the app?
Withdrawable Cash is shown inside the USD Margin wallet, alongside the other wallet metrics — Balance, Equity, Free Margin and Margin Level. Reading them together gives you the fuller picture: Balance tells you what is in the wallet, Equity what it is currently worth, and Withdrawable Cash how much of that you could actually take out right now. Margin Level then tells you how much room you have before restrictions apply.