Comment Text:
i0-001
COMMENT
CL-02304
From:
Sent:
To:
Subject:
Allen Fritsch
Thursday, January 21, 2010 9:49 PM
secretary
Regulation of Retail Forex
Dear Sirs, I am vehemently opposed to your proposed rule change forcing Brokers to only
provide 10:1 leverage to retail traders. Small retail traders cannot trade using 10:1 leverage.
Much of our trading is based on multiple positions. The rule you propose could more easily
cause an unexperienced trader to blow up an account by getting margined out on just a small
losing trade because of the excessive margin requirements. The small size of positions this
rule would force on us would make it impossible to make a decent profit.
Your poorly thought out attempt to protect us will only serve to hurt us, as did your misguided
rule banning hedging. Stop trying to help us, you're killing us! Please re-think this and drop this
requirement or we will be forced to take our business outside of the United States promptly
putting American Brokers out of business. Allen Fritsch
