Comment Text:
i0-001
COMMENT
CL-02141
From:
Sent:
To:
Subject:
Brendan Wood
Thursday, January 21, 2010 7:29 PM
secretary
RE: Proposed Regulations.
Hello,
I would like to give my view on the proposed new regulations which would limit leverage to 10:1 for
any forex transaction.
I am a retail trader who trades with MB trading, I understand that large amounts of leverage can
adversely affect people who do not use it correctly. I however trade very profitably as the sole means for
my income. I sometimes leverage my account upto 20:1. I do this with a relatively modest account
compared to many i am sure. by Limiting leverage to 10:1 this would severely inhibit my earning
capabilities and I believe this to be unfair. Leverage, used properly can be very advantageous, and I
don't believe I, and thousands of others like me should be penalised, because of the fact that many
uninformed traders use too much leverage, resulting in significant loses to themselves. If any regulating
is to be done, It is my opinion that this should be done in how information is disseminated from brokers
to their clients, to allow them to make more informed decisions and trades. Information is the key, not
limiting successful traders to much lower returns.
Thank you very much for your time.
Brendan Wood
