Comment Text:
i0-001
COMMENT
CL-01907
From:
Sent:
To:
Subject:
Andrew Abt
Thursday, January 21, 2010 2:54 PM
secretary < secretary@ C FTC. g ov >
Regulation of Retail Forex
Good Afternoon,
In regards to RIN :~0:~8-AC61, I respectfully request that this does not pass. It is my belief
that if this passes two things will happen. First, many retail forex traders will not be able to trade
anymore. Many retrailtraders use the 100:1 leverage currently so that they can spend time
learning the markets while only using a small percentage of their capital. Taking this option away
by requiring 10:1 leverage will only cause traders to leave the forex market or use more of their
money in the market which they could potentionally lose versus a small amount they can afford to
lose now. In short, you are either driving business away from the forex market or you will be
causing some traders to lose more capital than they should. My second belief is that requiring
10:1 leverage will cause many US traders to seek accounts in foreign countries where they can still
use 100:1 leverage. This is bad forthe retail brokers that many traders use. In affect, you would
be reducing business for US companies while helping foreign companies build their businesses. I
don't believe that's what America was built on and I hope you don't vote yes to this 10:1 leverage
proposal.
Sincerely,
Andrew Abt
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