Am I trading on margin on Interactive Brokers?

I'm new to IKR, and can't understand if I'm trading on margin, or normally?
I tried on a paper account.

The idea was to buy 1 share of MAG at a limit price @ 16.85.
If you see the attached photo, it says that I bought 1 share, but it mentions margin and it says "position 21''.

I can't figure out what's the meaning of the things inside the red rectangle.

It would be highly appreciated having someone explaining to me

 

Check your cash balance, if the balance is less than 17.01 then you are trading on margin.

 

Check your buying power, if you have more money than you've ever dreamt of, you are on margin.

 

You only start trading on margin if the initial trade value exceeds your own cash. That's the simplest way to put it.

 

Agree. The information window is just that. First own cash will be utilized to satisfy the cost of a trade. Only when the cost exceed cash is a margin loan extended. Same with currencies and futures, even though the terminology is "initial margin" and "maintenance margin" and "variation margin"

 

The words which IB uses in that red box in your screen shot are a bit confusing. Let's take the line which says "Maintenance Margin" which will change from 316 to 322 AUD if you execute the trade that this window shows.
This line does NOT mean that you are trading on margin. What this line means is that your current positions require you to have at least 316 AUD account value to fulfill your margin requirements. And that, if you execute this order, you will need to have an account value of at least 322 AUD to fulfill your margin requirements.

If you want to know whether your account is trading on margin you would need to go to the account window (not a trade window) and look at the various items which are listed there.

 

I'd add to the OP that if you don't understand the very basics of margin trading, you have no business opening a margin account. And you don't appear to understand the very basics of margin trading.

This forum is a good resource for asking questions, but it's a bit rude to not even do some basic reading on the subject before asking. A google search of "basics of margin trading" yield dozens of good results.

 

Another way to put it, with a margin account you only need to pay for half the position but you have to use your cash first and then broker loans you the other half... and it has to be marginable stock. Not all stocks are marginable.