Comment Text:
i0-001
COMMENT
CL-01636
From:
Sent:
To:
Subject:
Jeff Dornin
Thursday, January 21, 2010 8:54 AM
secreta ry < secreta ry@ C FTC. g ov >
Regulation of Retail Forex
identification number RIN 3038-AC61
Hello Mr. Stawick,
As a Foreign Currency trader, I feel compelled to vioce my opinion regarding the restriction of 10:1
leverage on trading accounts in the United States.
First off, this would put many small time traders such as myself either out of work or force us to open
an account in the UK. Economic recovery depends on our money staying in the US. This new rule
would in effect defeat this purpose. There are many foreign currency traders who make alot of money.
This money is then pumped into our economy thru spending and the taxes we pay. If the 10:1
restriction is applied to US accounts, it would discourage US citizens from trading foreign currency and
seek other means of investment.
Secondly, the more currency traders in the market, the more stable that currency is. As you know,
alot of corporations and banking institution both here and abroad depend on the currency market to
maintain the value of the currency they place on the market. With fewer traders in the market, it
would become more volatile, thus threatening the value of said currency.
I'm not saying that the world would end tomorrow if the 10:1 rule were applied, but when we"re
trying to pull out of a recession, every little bit helps. I certainly hope I can still trade with the 100:1
leverage I currently use so I can keep my money here in the US.
Best Regards,
Jeff Dornin
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