No I think you are not correct about your explanation. First online trading is not a physical interphase trading that you see your buyer or seller standing right in your front that you can explain a spoilt product to. As far about online, everything is done there and that is the pattern. For leverage and trading, you can owe the broker but you are supported of funds online there in your platform to have more trading opportunity and diversification but if the leverage seem to be at risk from your lose, the leverage is deducted at some point and allow you to take the risk alone which affects your pocket.