Comment Text:
i0-001
COMMENT
CL-00158
From:
Sent:
To:
Subject:
Bob Galvin
Saturday, January 16, 2010 8:15 AM
secretary
Regulation of Retail Forex
To whom it may concern.
Regulation of retail Forex concerning the 10:1 leverage ratio would be
catastrophic.
100:1 leverage ratio has been the standard since Forex has been around.
If you want to go after leverage ratios concentrate on the more than 100:1 ratios.
Some brokers offer up to 400:1 leverage which is not a good idea except for the
professional traders.
If you go down to 10:1 ratio most brokers will be forced to close because their
clients will move their accounts to countries where the laws make more sense for
retail traders.
A move to 10:1 leverage
will put lO0's of thousand of people out of work, close
many good brokerage houses and thus reducing government tax resources.
Concentrate on the more than 100:1 leverage ratio and I do not think hoards of
people will leave US brokerages.
You go to 10:1 and you are inviting disaster.
I have been a retail trader for 5 years now and have considered teaching the
subject.
Bob Galvin
PO Box 174
Meriden, NH 03770
603-469-3013
bgalvin@comcast, net
From uploaded file 158_----:
1/4/2010 3:55:29 PM... 23 change(s) to BPAC list.
1/4/2010 4:02:59 PM, True... 23 change(s) to BPAC list.
