Comment Text:
i0-001
COMMENT
CL-01129
From:
Sent:
To:
Subject:
Otto Foerstemann
Wednesday, January 20, 2010 9:03 PM
secretary
Regulation of Retail Forex
Regarding the proposed regulation, I.D. number R1N 3038-AC61, proposing a leverage limitation of
10:1 in the Retail Forex, I would like to strongly object.
Realizing that the CFTC is a regulatory body, and issuing regulations is what it does, this current
proposal is bordering on over-regulation. Why should I have to put up more of my margin account per
trade because the CFTC has this inherent need to regulate and impose control? The 400:1 and 200:1
leverage have already been eliminated in the U.S. Why does the CFTC see a need to regulate further?
There is no justification for this proposal whatsoever. This proposal does nothing to curtail the inherent
risks involved with trading, so it has no value and serves no purpose.
IfI so choose,
I should have the
right
to trade at 100:1,200:1 or even the insane 400:1 leverage. It
should be my choice and only mine. If the broker chooses to allow this higher leverage, why does the
CFTC see the need to intervene?
Regards,
Otto Foerstemann
[email protected]
