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Comment for Proposed Rule 75 FR 3281

  • From: John M Bland

    Comment No: 14
    Date: 1/14/2010

    Comment Text:

    john m. bland
    Thursday, January 14, 2010 1:51 PM
    10-1 proposal for reatail forex trading
    This in response to this unfair proposal. I traded in the interbank and currency futures markets for several decades and moved over to
    retail forex trading on my own about fifteen years ago. The retail brokerage business is incredibly competitive for the retail trader and
    the CFTC has done a lot in recent years to correct many of the problems in this industry. 400 to 1 leverage rightfully was shut down
    but 100-1 leverage is perfectly fine for day-traders, although parity with the futures markets would be fine This decision is unfair and
    anti-competitive and will simply send even more business to London and to unregulated markets offshore. It will not drive people to the
    futures markets, which must clearly be its intent. Think about it, there are reasons why professional traders abandoned Futures in
    droves over the past decade. This won't get them back.
    John M. Bland
    John M. Bland
    609 884-6010