Leverage lets you control a position larger than your account. Margin is the portion of equity set aside to hold that position.
Calculating margin
Margin = position value ÷ leverage. One standard lot of EURUSD at 1.0850 is worth $108,500; at 1:100 leverage the margin is $1,085.
Margin level and stop-out
Margin level = equity ÷ used margin × 100. If it falls below 50%, the platform closes positions starting with the largest loss to protect the account.
Leverage is not risk
Your real risk is the distance to your stop multiplied by your position size — not the leverage. Use the risk calculator to size trades by % of equity, and leverage becomes a detail.