Comment Text:
i0-001
COMMENT
CL-02327
From:
Sent:
To:
Subject:
Bhavani Prasad
Thursday, January 21, 2010 10:32 PM
secretary
Re: Proposed CFTC Leverage Change -- Comment
Dear CFTC,
Please allow individuals to choose their own leverage. Its individuals own money at risk and none
others.
Instead tax laws can be modified to discourage excessive leverage.
USA Policing with new laws are already weighing excessively
Thanks
Bhavani
On Thu, Jan 21, 2010 at 7:00 PM, FOREX.com
wrote:
N FOREX.com
Dear Customer,
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," which means 10:1 leverage would be the maximum amount allowed for forex traders in the U.S.
HOW WOULD THE PROPOSED CHANGE AFFECT YOU?
Max leverage under current regulations
Max leverage under proposed changes
USD/JPY
USD/JPY
100:1 leverage (one percent)
10:1 leverage (10 percent)
1 lot (100,000)
1 lot (100,000)
Margin requirement: $1,000
Margin requirement: $10,000
We 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.
Should you feel strongly about the proposal, there is still time for you to help determine the outcome of these
proposed regulations. You can make an impact by sending comments directly to the CFTC at:
[email protected]
COMMENT
CL-02327
Please include 'Regulation of Retail Forex' in the subject line of your message and the identification number
RIN 3038-AC61 in the body of the message.
You can also submit your comments by any of the following methods (include above ID number):
Fax: (202) 418-5521
Mail: David Stawick, Secretary
Commodity Futures Trading Commission
1155 21st Street, N.W.,
Washington, DC 20581
¯
Courier: Use the same as mail above.
In the next few days, FOREX.com and the rest of the U.S. forex industry will be releasing a more formal opinion
about the proposed changes. If you wish, you can read further details about the regulation on the CFTC website by
clicking here.
In the meantime, we encourage you to voice your opinions to the CFTC and your local U.S. representative.
As always, we thank you for your business.
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