Margin at risk is a way of understanding how much money you could lose if investments you've made go down in value. It is like a measure of risk. For example, when you buy stocks with borrowed money (called buying on margin), you take a big risk because if the stocks go down in value, you not only lose the money you invested but also have to pay back the money you borrowed. The margin at risk is the total amount you could lose if the investments go down.