Comment Text:
i0-001
COMMENT
CL-02169
From:
Sent:
To:
Subject:
Terry Earley
Thursday, January 21, 2010 7:41 PM
secretary
Regulation of Retail Forex
RIN 3038-AC61
As a small forex trader, I am strongly opposed to the proposed regulation limiting leverage to 10:1. My
accounts are set to immediately freeze if values go below a specified amount. I am not in danger of
going negative in my forex accounts.
These proposed regulations would limit my ability to trade by requiring higher minimum deposits.
These limits make sense for commodities traders and others who assume the risk of negative account
values, they are unnecessary for forex accounts.
Regulations to more closely scrutinize brokers would better serve traders. I was, like many others,
victimized by the Refco collapse. Requiring brokers to maintain sufficient reserve funds and regularly
validating those reserve accounts would be the most help for traders.
Terry Earley
[email protected]
801 706 7470
Blog: http ://earleynews.blogspot.com/
Goodreads Page: http ://www. goodreads, com/review/li st/2105531
