Comment Text:
i0-001
COMMENT
CL-01265
From:
Sent:
To:
Subject:
Frederick Chin
Wednesday, January 20, 2010 10:03 PM
secretary
Regulation Of Retail Forex
Dear Sir/Madam,
I refer to your proposed changes per RIN 3038-AC61 which seeks to reduce
the maximum leverage from 100:1 to 10:1. This was only after a short
period after the reduction of leverage from 200:1 to 100:1.
Many retail traders trade forex for a living or to earn extra money to
tide them over difficult times, such as now. Imposing additional
barriers such as your proposal attempts to "take" these people out and
appear to benefit large organizations who can meet the larger capital
requirements.
If your proposal were to be passed, I for one will move my account from
a US broker to a non-US broker.
Please do not make it difficult for knowledgeable retail traders to make
a little money.
Thank you for NOT proceeding with this proposal.
Regards,
Frederick
