I know that Bright charges a haircut for overnight leverage, 20:1 is 4%, and 30:1 is 6%. I thought that 4% and 6% where Margin interest APR(anually per year). However recent conversation with someone made me believe otherwise. I did a search on ET and it seems Echo has the same setup. None of the firms I have traded with had this type of setup, can some one explain how it works to me? For example: 1) If I have $10k deposited and take a $200k lLONG position overnight, what am I charged and how is it calculated? 2) If I have a $10k deposit and take a $200k LONG position and a $100k SHORT position overnight, what am I charged and how is it calculated? PLEASE, no sales pitches or offers am am happy where I am and have what I need. I am just curious about this because it isn't what I thought it was.