Hey guys im a little confused on the difference.
If I went and opened an account with $500, is this my margin or balance?
$500 is your balance. This is one of definition of them.
Balance is the amount of your capital left with the broker. Even when
there is a trade is on, this balance amount will not fluctuate along
with the floating profit or loss. If you have opened a position and
liquidated it, the amount will be changed in accordance to your profit
or loss amount.
Margin or used margin is the amount of money required to open a
trade. Whenever you have opened a new trade, you will use up a certain
amount of margin. As a result of that, the more trades you open, the
more margin you will eat up.
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