What Are Initial Margin Call and Final Margin Call in Crypto Futures?

An Initial Margin Call triggers when your Margin Level passes 50%, warning you to add margin or close positions while you still have full flexibility. A Final Margin Call triggers when your Margin Level passes 75%, at which point you can only close positions or open new ones that reduce your existing exposure — any order that would worsen your position is rejected outright. Margin Level on Pluang is a rising scale from 0% toward 100% and beyond, where a higher number means your position is closer to liquidation, not further from it, so both thresholds are checkpoints on the same upward path toward forced closure. Treating the Initial Margin Call as the moment to act, rather than the Final Margin Call, is what keeps your options open.

• Initial Margin Call (Margin Level above 50%): This is your first warning. You're strongly encouraged to top up your margin balance to bring your Margin Level back down, or to close some of your open positions to reduce risk, and you can still do either freely at this stage.
• Final Margin Call (Margin Level above 75%): This is a more restrictive stage. You can only close some or all of your open positions — you can no longer freely open new ones that add to your exposure.
• What "reducing" means at the Final stage: A new position is only allowed if it reduces your existing exposure or helps offset the loss on your open position. Any new order that would worsen your open position is automatically rejected by the system.
• The path after 75%: If your Margin Level keeps climbing past the Final Margin Call without action, liquidation follows as it approaches roughly 100% — the two margin call stages exist precisely to give you a chance to intervene before reaching that point.
• Cross vs. Isolated: On Cross Margin, there is one account-level Margin Level for all your Cross positions, while each Isolated position has its own. A margin call can therefore apply to one isolated position without affecting your others.
• Acting early matters: Because your options narrow significantly between the Initial and Final stages, adding margin or trimming your position as soon as you get the Initial Margin Call gives you far more flexibility than waiting until the Final Margin Call.

Related questions:

Q: At what Margin Level do I get the Initial Margin Call?
You receive the Initial Margin Call once your Margin Level passes 50%, prompting you to add margin or close positions. At this stage you can still trade normally on the contract, including opening new positions, while you decide how to respond — nothing about your account is restricted yet beyond the warning itself. Think of it as a checkpoint rather than a limit, giving you time to plan your next move calmly instead of reacting under pressure later.

Q: What can I still do once I hit the Final Margin Call?
At the Final Margin Call (Margin Level above 75%), you can only close some or all of your open positions, or open a new position that reduces your existing exposure. You can no longer open a position that adds to or worsens your current exposure, even if you're confident the market is about to turn in your favor. This restriction applies uniformly to every trader who reaches this stage, regardless of position size or trading history.

Q: Will Pluang reject an order that worsens my position during a Final Margin Call?
Yes. Any new order that would increase or worsen your open position's exposure is automatically rejected once you've hit the Final Margin Call, regardless of the order type you submit, including limit orders placed well away from the current market price. The system checks this at the moment you submit the order, not only when it would otherwise execute.

Q: What's the best way to avoid reaching the Final Margin Call?
Add margin or reduce your position as soon as you receive the Initial Margin Call, since your options become far more limited once your Margin Level passes 75% and the system starts rejecting exposure-increasing orders. Waiting until the Final stage to react leaves you with only defensive moves available, which can feel restrictive if you were hoping to average into the position instead.

Q: What happens if my Margin Level keeps rising after the Final Margin Call?
Liquidation follows as your Margin Level continues climbing toward roughly 100% — the Final Margin Call is the last checkpoint before the position is closed automatically, so treating it as urgent rather than optional matters. Once liquidation triggers, the outcome is no longer something you can influence: on Cross Margin, your USDT margin balance is reset to 0 and the loss appears in your Realised P&L; on Isolated Margin, you lose only the margin allocated to that position.