We have a limited amount of funds available in our reserves for extending margin to clients.
If you tried to place an order to open a position using margin and it was cancelled with the reason "Insufficient margin", then this means that our margin pool for that currency is currently depleted.
You can see the reason for cancellation when you click on the ID of the cancelled order:
This can happen to both limit orders and market orders, however this will never prevent you from closing a spot position on margin.
Margin is not reserved when you place a limit order, so if the margin pool is empty when the market hits your limit order then your order can still get cancelled instead of being executed.
- You can try and place a new order using margin at any time after a previous order was cancelled.
- You can also switch the margin pool you are using by changing the trading pair. For example, if your BTC/USD buy orders are not getting filled, you can try BTC/EUR instead. This may resolve the issue right away. When going long, you would use the quote (the second currency of the pair), and when going short, you would use the base (the first currency of the pair).
- Alternatively, try Kraken Futures as it does not utilize margin pools for funding. Kraken Futures works on a client-to-client basis, exchanging contracts between available parties so insufficient margin errors will not occur. If you are interested in the Futures platform, check if it is available in your area.