Comment Text:
i0-001
COMMENT
CL-02570
From:
Sent:
To:
Subject:
Janiel Almanzar
Friday, January 22, 2010 10:06 AM
secretary
'Regulation of Retail Forex'
Identification number RIN 3038-AC61
Regulation of retail Forex
[] [] [] [] [] The public Is upset enough as it is, with the current regulations and are already switching to
London based brokers because of your regulation that are so called for
consumer protection.
With out a
decent leverage than there is no reasonable reason to invest on the currency market since its movements
are not enough to provide an investment opportunity for short and medium term investors or any
investor for that matter since long term investor will not tend to speculate on an investment instrument
with almost no return over investment.
[] [] [] [] [] I understand that there are many brokers taking advantage of the high leverage to wipe out
beginners accounts; But it is all right in front of them. If you cant manage too much risk you can always
pick a smaller leverage, and of course if you don't even know what you are doing there is only yourself
to blame.
[] [] [] [] [] Its interesting how you've decided to protect the interests of the public that knows nothing
about investing in currency thus flushing the interest of the more experienced public. I can assure you
that you have only received complaint letters from these people with out a single contribution. A break
down of their psychology is simply to invest in an irresponsible way, then loose money they shouldn't
of, and of course there after find who to blame.
[] [] [] [] [] All business comes with risk, and with out an extensive knowledge of Forex trading ( one of
the most riskiest business of all ) we should not jump in to it. Its funny how it is warned everywhere you
read about Forex trading how risky it is yet they jump right into it.
[] [] [] [] [] If any action is needed on this matter it would be an education approach for everyone, since it
is a well known fact that during the last 3 years the currency investment market has shown reasonable
amount of growth, and now all of the sudden we have an incredible amount of brokers; and it is all due
to the collapsing of the economy; we are all trying to find the diamond in the dirt, the []
Intelligent
[]
way out sort of speak. Most of the investment products are a bare myth for the majority of the public and
treated as gambling by a great percent and not as studied decision taking activity with its own
mathematical proportions and economic reason of existence. Even if its not something used as a
requirement it is a must to have a college degree in some finance or economic profession. Every day
brokers make the whole investment world more user friendly an people accessible to widen their public
since there aren't to many economists an financial administrators around. The only problem is that the
more accessible the market becomes to general public the more ignorants we will have complaining on
something they believe was a scheme.
[] [] [] [] [] All my investments at the moment have been placed under London based brokers since I trade
with a 400* 1 leverage. Even if most investors believe its an unnecessary leverage I find it to be my wayi0-001
COMMENT
CL-02570
to trade and my belief is that we should have the RIGHT to choose. These regulations are just
pushing away the responsible knowledgeable public and protecting desperate and ignorant people.
Janiel Almanzar
Almanzar & Encarnacion Portfolio
Financial administrator
