Comment Text:
i0-001
COMMENT
CL-02287
From:
Sent:
To:
Subject:
Niladri Kar
Thursday, January 21, 2010 9:30 PM
secretary < secreta ry@ C FTC. g ov >
Dear Secretary,
The U.S. Commodity Futures Trading Commission (CFTC) announced on January 13, 2010 that it is seeking public comment
on proposed regulations concerning retail forex trading. As part of the proposed regulations, "leverage in retail forex customer
accounts would be subject to a 10-to-1 limitation," for forex traders in the U.S.
I believe that all traders should have the right to choose the amount of leverage that is appropriate for his/her risk appetite, and
that this basic principle of 'choice' is being threatened by the proposed CFTC regulations, only because of the reason being an
US trader. In today's global market that kind of discrimination can be recipe for further financial disaster.
Secondly, lots of small investors like me use a small forex account to hedge their regular and retirement portfolios, and the
proposed limitation would severely hamper their investment choices.
Thirdly, considering the recent crash in the stock market, most of the personal investors have suffered unprecedented loss
from which we are still recovering. The proposed limitation will lead to a position of complete hopelessness.
Hope you will review these issues before considering the proposed regulation.
Sinecerely,
Niladri S Kar.
13700 Fairhill Rd
Shaker Heights
OH 44120.
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