on futures you open a long position of 500 dollars with a leverage of 2x for example - the exchange shows you a balance of coins at 1000 but in fact does not buy them... upon liquidation your 500 remains with the exchange

I often see posts about how the exchange cheated or took money for itself, etc., especially from newbies who lost their deposit and start yelling that all their money went to the exchange!

Below I described where your money goes and how the exchange makes money

### Who gets the money when traders lose their deposit on the exchange?