Margin Level refers to the ratio of your account’s equity to the used margin, expressed as a percentage. It gives you an indication of how much usable margin you have left to support your open positions.
Stop out Level is a predefined margin level set by your broker. When your Margin Level falls to or below this Stop out Level, it triggers an automatic process where the broker begins closing your open positions to prevent your account from falling into negative balance territory. This is done to protect both the trader and the broker from potential losses.