Comment Text:
i0-001
COMMENT
CL-02433
From:
Sent:
To:
Subject:
Kusriono
Friday,
January 22, 2010 3:05 AM
secretary
Regulation of Retail Forex
Hello, my name is Kusriono. Just another trader to sound his opinion on
10:1 proposal rule. I understand that it is CFTC's duty to regulate and
keep forex as a safe environment from scammer or fools people who risk
too much on his account. However your 10:1 leverage proposal seems a
drawback in my opinion. It is government task to advise and warn newbie
traders to keep they save from their self because risking too much money
per trade. But it isnt wise to reduce the leverage (thus reduce forex's
competitive advantages) to keep them safe. It is just like ban all of
knives production just to keep baby safe from knives! Sometimes they
will understand and becomes a true trader when they do understand what
risk is.
Some of my trader friends is planning to withdraw their money from US
Forex firms because of the regulation. I'm sure there will be a lot of
traders will do so in near future when the regulation is held. Doesnt it
will bring doom to US Forex Firm and investment environment? While your
country has the drawback, others country will have their advantage from
your fall.
The bottom line is, I TOTALLY DISSAGREE with the 10:1 leverage proposal.
Hope CFTC could cancel the proposal. Thank you.
Kusriono
Just another trader
