Comment Text:
i0-001
COMMENT
CL-02447
From:
Sent:
To:
Subject:
Gilbert Kimari
Friday, January 22, 2010 4:03 AM
secretary
Regulation of Retail Forex
Dear Sirs,
I wish to voice my concern about the proposed CFTC regulation on retail forex trading in the USA. I believe the
use of higher leverage in the forex market is what makes it the most attractive investment market for a great
number of people all over the world. It appeals to even those who do not have huge amounts of capital to
participate in this market and grow their capital to a sizeable amount over time, and thereby be able to live off the
proceeds of their smart investments.
I strongly believe that reducing the leverage ratio to 10:1 will greatly restrict traders with small amounts of capital
to participate in forex trading in the USA. The forex market is a savior to all peoples around the world, from all
walks of life because it gives us a chance to make a living in any country that we may be living in, especially us
African traders who may live in countries where even a higher level of education may not necessarily guarantee
you long term employment.
Every professional forex trader is well aware of the both sides to using high leverage. I do believe it is up to the
individual engaging in forex trading activities to ensure that he/she is well prepared for either outcome and has a
plan, therein, to deal with such outcomes. It is not in the best interests of any forex trader to have a governing
body, restrict an individual's right to choose the leverage and risk that is suitable for him/her, according to their
own sane judgement.
Please, let the right to choice prevail.
Kind regards,
Gilbert Kimari.
Information from ESET NOD32 Antivirus, version of virus signature database
4795
(20100121)
The message was checked by ESET NOD32 Antivirus.
http://www.eset.com
