I really hate it, sorry. It just sounds so ugly to me. I do, on the other hand, like
Margot (with a spoken T: MAHR-goht) a lot.
Other ideas:
MargueriteGretaMargaretaMargarita
If you aren't sold on
Margaret, you might like
Margaret as the birth certificate name with one of the many nicknames:
Greta,
Gretchen,
Maggie,
Margie,
Meg,
Megan, Meggie,
Daisy,
Peggy, or
Rita.