Comment Text:
i0-001
COMMENT
CL-01920
From:
Sent:
To:
Subject:
Denis Verdij ck
Thursday, January 21, 2010 3:08 PM
secretary
regulation of retail forex
Dear Sir, Madam,
I represent more then 25 clients from Europe, using a platform and broker in the VS.
I would strongly advise the committee not to change the margin (leverage) for the retail clients from 100:1 towards
10:1.
The most simple reason is that this change will not protect greedy or stupid traders, but only will drive them
towards companies outside the VS (less regulated and scamming their clients).
A lot of offshore companies are waiting for such things and because of the bad reputation and the disadvantage
for the traders, the VS companies will be obliged to move also, in favor of their clients!
Nothing will change, only the VS will loose a lot of companies,income and dollars, because it is only a virtual
business!
The only way people can be protected is to control all the brokers and IB's from all the new (and existing)
companies very strictly and prevent them to scam the forex newbies!
If this change will become executed, we all will transfer the funds out of the VS and go to a broker outside the VS!
Thanks anyway,
Denis Verdijck
Director Fortunes bvba
Belgium
