I think thats exactly what it means , you get that kind of money say , you have the deposit of 100 dollars just as you have stated and you want to use the leverage of 1:10, then this means for every one dollar you have ,the market will loan you 10 dollars so with 100 dollars the market will loan you 1000, your math is right , but also remember the market does not lose, you go to the opposite side of your profit by just 100 , then is when you lose everything, thats why its called leveraging