Comment Text:
i0-001
COIMMENT
CL-01668
From:
Sent:
To:
Subject:
Marius
Thursday, January 21, 2010 9:43 AM
secretary
Regulation of retail Forex
Ident. Number: RIN 3038-AC61
I strongly object to reducing the leverage for Forex trading. The effect in general would be devastating, because
people will take more risk to obtain the same result.
Example: You have a $5,000.00 account and with 2 contracts you are risking less than 2 % of your account or
$100. for every trade and the possibility to be wiped out is very remote. If the leverage is reduced to 10:1, the
same trade would require 10 times more risk at $1,000. that is 20%. and would not bring in more profit.
This is not helping the small trader.
Those who are loosing money in the Forex now are people who are not informed and do not take courses on
trading Forex, think it is easy and think they will get rich very fast.
I suggest that money be spent in informing people interested in Forex that, like everthing else, they have to learn
the business and use the facilities offered by all brokers to practice trading a demo account before investing real
money. They will quickly learn that they have to go back to basics and learn to trade. Courses are available all
over the internet.
Have a wonderful day
Marius Corbin
