A twist works well and I use it on some pedals of mine. However on some others I simply take the extra strap end that is sticking out and with a pair of pliers shove it through the slot/hole in the pedal. This keeps the strap out of the way and from flopping around, as well as keeping your straps in place. The two straps in the slot make things nice and snug.

Sometimes I need one pair of pliers to push the strap in and a pair of needle-nose to pull it through. Be careful though...you can rip the end of your straps, which is not good if they are nice leather ones.