Your trading balance or the money left from your trading account is the margin level where you need to maintain it and not to drop your margin level so you can continue and enjoy your trading whereas the leverage is the sum of money you're going to trade and it is taken from the company. The higher the leverage, the higher your chance to gain more money but it is too risky to trade such a very high leverage.

Leverage is reinvesting debt in an effort to earn greater return than the cost of interest. Margin is a form of debt or borrowed money that is used to invest in other financial instruments.