Comment Text:
i0-001
COMMENT
CL-01936
From:
Sent:
To:
Subject:
Damir S
Thursday, January 21, 2010 3:35 PM
secretary
New Proposed Regulation of Retail Forex
Hi there
I'm a retail fx trader with MB Trading, and I'm writing to you with regards to the proposed 10:1 leverage
rule. I am against this rule for two reasons.
Firstly, foreign traders trading through US brokers (like me) will inevitably move their business to other
contries, with the US brokers losing out. Secondly, the risk disclaimers all brokers are required to have
any new clients accept, clearly warn new traders of the risk of using high leverage; it is only through
their own ignorance (and they have got to be very ignorant if they don't heed the warnings) that
inexperienced traders blow out their accounts. It's unfair, to limit the profitability of traders who have
learnt to use leverage to their advantage, for the sake of the newbies who blow out.
In summary, the new proposed rules are bad for US business and unfair on successful traders. For these
reasons I am against this new regulation.
Regards
Damir Skoric
Auckland, New Zealand.
