Comment Text:
i0-001
COMMENT
CL-02099
From:
Sent:
To:
Subject:
Attach:
[email protected]
Thursday, January 21, 2010 6:59 PM
secretary
Public Submission for 2010-00456
Public Submission for 2010-00456.zip
Please refer to the attached file.Please Do Not Reply This Email.
Public Comments on Regulation of Off-Exchange Retail Foreign Exchange Transactions and
Intermediaries:
Title: Regulation of Off-Exchange Retail Foreign Exchange Transactions and Intermediaries
FR Document Number: 2010-00456
Legacy Document ID:
RIN: null
Publish Date: Wed Jan 20 00:00:00 EST 2010
Submitter Info:
first name Thomas
last name Z
address1 [email protected]
city Opole
country Poland
us state
zip
company
Dear CFTC,
Recently I have discovered that the new regulations of the forex market will lower the
maximum leverage to TEN to ONE. I can only think, that the reason behind this decision, is
protecting people, who clear their forex deposits in one day by being foolish and/or greedy.
But it is the same, as banning cars, because wreckless drivers kill pedestrians each day.
I am not a citizen of the USA, I live in the EU, but I trade forex via US brokers, because- in my
opinion- their service is the best. My trading strategy requires at least a ONE HUNDRED to
ONE leverage and if the leverage will be lowered, I would have to- unfortunately - change my
US broker to a "foreign" one. I think, that most clients (US or foreign) will do that. This
decision will make US retail forex brokers extremely uncompetitive in the international retail
forex market.
Kind regards,
Thomas Z
