Simple's Green Room

[sdcaalan]

can some one answer this question for me? using the Oanda calculators the margin cost for one lot of AU is $1787, if you are long AU it pays 4.54 per day times 365 is $1657 for the year. So at 50 to 1 leverage thats damn near 100% annually to hold that position for a year. My question is who pays one that money? is it the RBA, and if so why? On the flip side if I'm short I'm charged that money, Where does it go? To the RBA? Is the broker just the collector or do they get a cut? This something I should know but can't find the answer with a search yet.