You can close an order any time after it has been opened, but you cannot “cancel” its execution as it is executed at the time of submission.
Glossary
MARGIN
Margin allows you to trade with leverage and make more profit on price movements, but it could also accelerate your losses. If you made a trade with a margin of 50:1, for example, you would only need to risk $10 in order to open a $500 trade.
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