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What is the difference between ‘buying power’ and ‘cash balance’?

Cash balance represents the total balance of USD at a certain point in time. Buying power accounts for additional inflows and outflows of cash (pending orders, unsettled funds from a deposit or transaction, etc.) and represents funds available to invest or withdraw at a given time.

Example:
You have a cash balance of US$1000 and a buying power of US$1000. If you place a trade for US$500, your buying power will instantly reduce by US$500. However, as settlement occurs on T+2, your cash balance will remain at US$1000 until the stock purchase has been settled. 

Similarly, if you were to initiate a withdrawal of the other US$500 it will be instantly deducted from your buying power and remain in your cash balance until the process is finalised and the funds have been removed. You will receive your withdrawal in NZD.

Available funds and reserved cash

Only funds that show as ‘Available for withdrawal’ are able to be withdrawn. This means that you won't be able to withdraw funds that are reserved for: 

• Pending buy orders (i.e. any active order you have to buy stocks)
• Unsettled funds from a deposit or share sale (sell orders)