Comment Text:
i0-001
COMMENT
CL-02073
From:
Sent:
To:
Subject:
Dave Dien
Thursday, January 21, 2010 6:27 PM
secretary
Regulation of Retail Forex
hello,
I would like voice my concern regarding the 10:1 margin proposal for Forex trading in the US.
We've already lost much competition and business to other countries when recent NFA rules took effect
(ie. no hedging and FIFO).
This proposal if passed will be the final straw that'll force millions of US traders to take up trading
elsewhere (with non NFA regulated brokers).
Common sense tells us that trading the financial markets attract better-than-average intelligent thinking
people. These people have the entire
Internet at their fingertips to look up everything there is to know about Forex trading ....
including sound
money management strategies and how not to over leverage.
Hence, I believe this proposal is unecessary and is bad for brokers and traders in the US.
Thank you.
-Dave Dien
858-437-2178
