When Margin Trading and using Leverage on Phemex.com, there are two key terms you must understand in order to calculate the total amount of funds you should have prior to opening a position.
The Initial Margin is the amount or percentage of your funds that you must allocate to open a position. Minimum initial margin requirements will vary depending on what Symbol you are trading and how much Leverage you are using.
Maintenance Margin is the amount of funds you must maintain in your account in order to keep your positions open. Minimum maintenance requirements will vary depending on what Symbol you are trading and how much Leverage you are using.
What Happens if the Funds in my Account Fall Below Maintenance Margin Requirements?
Please read this article, to find out about the automatic closing of positions.