• Balance: The total funds in your account excluding any profit or loss from open positions.
• Equity: The current value of your account, calculated as your balance plus or minus the floating profit or loss of all open positions.

In short:$$\text{Equity} = \text{Balance} + \text{Floating P/L of Open Positions}$$

Equity gives you a real-time view of your account’s value, while balance reflects only settled funds.