> For the complete documentation index, see [llms.txt](https://docs.trymatrix.xyz/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.trymatrix.xyz/perps/leverage-margin-and-risk.md).
# Leverage, Margin & Risk
### Choose a Margin Mode
Open Perps from the bottom navigation, select a market and switch to  Trade.
The current margin mode and leverage appear above your available balance. Tap the margin mode to choose:
* Cross: uses available collateral across your cross-margin positions
* Isolated: uses margin assigned specifically to the position
Select the mode you want to use. Some markets support isolated margin only, so Cross may be unavailable.
The selected margin mode applies to the current market and Perps account.
### Adjust Leverage
Tap the leverage value beside the margin mode. The current and maximum leverage for the selected market appear at the top. Use the slider or the - and + buttons to choose a value, then tap Save.
The maximum leverage depends on the market and may also be limited by the size of an existing position or your available margin. Higher leverage reduces the margin required for a position but increases its liquidation risk.
### Review Order Risk
As you enter an order, the summary below the size slider shows:
* Value: total value of the order
* Cost: estimated margin required at the selected leverage
* Liquidation Price: estimated liquidation price
These values update when you change the order size, leverage or margin mode.
### Monitor Account Risk
You can review account risk from either location:
* On the  Trade screen, scroll below the order form and select Positions
* Open  Assets, select Perps, then select Positions
The account summary shows your risk level, unrealized PnL, free collateral and current leverage.
The risk indicator shows Low, Medium, High or Liquidatable based on the current risk rate.
Tap the account summary to view the margin ratio, maintenance margin ration, maintenance margin and total notional value.
### Review Position Margin
Each open position shows its leverage and whether it uses Cross or Isolated margin.
Expand a position to review:
* IM: initial margin supporting the position
* MM: minimum margin required to keep the positions open
* Liquidation Price: the estimated price at which the position may be liquidated
The estimated liquidation price may change as the position size, margin or account balance changes.
### Adjust Isolated Margin
You can add or remove margin from an isolated position. Open Positions, expand the position and tap the + button beside the IM. In Adjust Margin opened, choose Add Margin or Reduce Margin. Enter the amount or use the slider, then confirm the change.
Adding margin reduces the position's effective leverage and liquidation risk. Reducing margin increases both.