> ## Documentation Index
> Fetch the complete documentation index at: https://docs.ownit.xyz/llms.txt
> Use this file to discover all available pages before exploring further.

# Margining

> Margin: the equity held against a position, and what happens when it runs out.

Margin is the part of your equity set aside to keep a position open. It isn't a fee and it isn't spent: it stays in your account and is released when you close the position.

### What is margin?

A \$10,000 position at 5x holds \$2,000 of margin. The other \$8,000 of exposure comes from the 5x leverage. Margin is not a fee: it stays in the account and is released when the position closes.

### What is margining?

Margining is how much equity your positions need at any moment. It changes as you open, close, and resize positions and as their value moves. Open positions reduce the margin available for new ones; the Order panel shows what is left.

### Why margin matters

| | Meaning |
| - | - |
| Initial margin | What a new position needs to open |
| Maintenance margin | What an open position needs to stay open. Below it, the position is liquidated |

On an evaluation account the loss floors are usually hit before maintenance margin is. Position is exposure; margin is the equity behind it.

### Margin modes

Every position uses one of two margin modes, chosen in the Order panel before you trade.

**Cross margin.** The position draws on all the available margin in your account, shared with your other cross positions. Profit on one cross position supports the others, and a loss on one reduces the margin left for all of them. If equity falls below the maintenance margin of your cross positions, they are liquidated.

**Isolated margin.** The position has its own margin, set when you open it, and only that margin supports it. If the position is liquidated, only that margin is lost. Your other positions and your remaining margin are not affected.

Most markets offer both modes. Some equities and ETFs, three commodities, and all FX pairs are Isolated only, so Cross can't be selected on them. See the full list in [Markets](https://docs.ownit.xyz/resources/markets.md#margin-modes).

Margin mode changes how a position is liquidated, not the loss limits. Max daily loss and max loss are checked against equity in both modes, so an isolated position can be far from its liquidation price and still take the account to a breach.

> [card] [Leverage](https://docs.ownit.xyz/trading/leverage.md)
>
> The cap per market and what a 1% move does at each level.


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