Comment Text:
i0-001
COMMENT
CL-01430
From:
Sent:
To:
Subject:
Lydia Idem
Thursday, January 21, 2010 12:45 AM
secretary
Regulation of Retail Forex RIN 3038-AC61
Dear Secretary,
I am writing to express my grave concern for the proposal to regulate forex trading leverage for retail investors from 100:1 to
10:1. What you are effectively doing is relegating forex trading for the elite of Wall Street. How is that fair? You must
understand that 100:1 leverage actually levels the playing field by allowing more traders, such as myself, to participate in the
foreign exchange market, a market that for too long has only been privy to "special" traders of privilege.
In addition, I, as a trader, should be allowed to manage my risk as I see fit, not demanded upon me by an outside body. There
are many brokers that offer 100:1,200:1 and even 400:1. The trader that chooses to trade with these varying levels of
leverage should have the freedom of choice to do so while fully understanding the risks as well as the rewards involved. That
disclosure should be done by the broker and all the good brokers do so.
I do hope that you rescind this particular proposal. It would have the effect of closing the industry to thousands of traders
rather than regulate the brokerage firms, which is an effort I do applaud.
Sincerely,
Lydia Idem Finkley
You should follow me on Twitter: @faithmight
Or just read: www.faithmight.com
