Leverage Tiers
Stocks have two leverage caps:- Day trading leverage: up to 100x (or the pair’s maximum). Available from 9:31 AM to 3:45 PM ET. Positions above the overnight cap will auto-close at 3:45 PM ET.
- Overnight leverage: a lower cap per stock (typically 5x–20x). Positions at or below this cap can be held indefinitely across market sessions.
Auto-Close
At 3:45 PM ET (15 minutes before market close), all positions with leverage above the overnight cap are automatically closed at the current bid/ask. This is not optional; there is no grace period or extension.- Auto-close executes at market price. Slippage is possible, especially on lower-volume stocks.
- A countdown timer in the UI shows time remaining before auto-close.
- Take-profit orders can exit positions before auto-close if you’d prefer to control your exit price.
Holding Overnight
To keep a stock position past market close, your leverage must be at or below the overnight cap. You can either open the position at overnight leverage from the start, or reduce your leverage below the cap before 3:45 PM ET to avoid auto-close.FAQ
What happens if I don't close before 3:45 PM?
What happens if I don't close before 3:45 PM?
Your position is automatically closed at market price. You may experience slippage. There is no grace period.
Can I hold stock positions overnight?
Can I hold stock positions overnight?
Yes, if leverage is at or below the overnight cap for that stock. Overnight positions are not auto-closed and can be held indefinitely.
Can I adjust leverage during the day?
Can I adjust leverage during the day?
Yes. You can increase to day-trading leverage during market hours, or reduce back to overnight leverage before 3:45 PM to keep the position open past close.
What to Read Next
- Opening a Trade — Place your first stock trade.
- Markets — All stocks with leverage caps and trading hours.
- Liquidation — Thresholds at different leverage levels.