Comment Text:
i0-001
COMMENT
CL-01067
From:
Sent:
To:
Subject:
Alex Lam
Wednesday, January 20, 2010 5:25 PM
secretary
Regulation of Retail Forex
Dear secretary,
I am a retail Forex trader trading with a U.S. Forex broker. I have been trading for 1 year or so,
with 50:1 leverage and have been very successful. To change the leverage to 10:1 will
undermine my trading performance. If 10:1 was enacted, I would have to risk more by
depositing more funds and trading higher number lots per trade, thereby, facing higher
potential losses and lower gains.
Keep in mind, the interest of public protection is shared by many U.S. brokers, such as
OANDA. They have diligently set rules and company policies to keep retail traders from
experiencing exorbent losses to their accounts with conversative measures including having
one of the lowest leverage in the industry at 50:1, setting margin calls at 50% of equity and
providing professional 24 hour customer service.
As a retail trader/investor, I strongly implore that the CFTC resonsider it's proposal and not
pursue this proposal to reduce the retail Forex leverage to 10:1.
If you have any questions or comments, please feel free to contact me by replying, calling, or
mailing me:
Nghia Lam
PO Box 20625
St Petersburg, FL 33742
727-742-5088
