Comment Text:
i0-001
COMMENT
CL-01432
From:
Sent:
To:
Subject:
Rich Le Dude
Thursday, January 21, 2010 12:52 AM
secretary
Regulation of Retail Forex
RIN3038-AC61
To whom it may concern,
In reference to R1N 3038-AC61, I COMPLETELY DISAGREE with a 10:1 leverage limitation. This
would mean that a smalltime trader like myself would only be able to profit cents from any successful
trades I make. Not only this, but in order to be able to make a decent profit, to be able to trade 1 full lot,
the margin requirement would be $10,000. So, now you limit profitable trading to only the rich and
wealthy? So the margin requirement for. 1 lots would be $1,000? So I would be getting 10 cents per pip?
I don't see how this is fair to many traders, myself included. Who proposed this? My guess is either a
very wealthy person who wants to keep the average j oe out of trading, or someone who doesn't know
how to trade and thinks the rest of the world should share his/her limits.
Regards,
Rich (Just another average j oe)
