Comment Text:
i0-001
COMMENT
CL-02575
From:
Sent:
To:
Subject:
[email protected]
Friday, January 22, 2010 10:11 AM
secretary
New 10-1 leverage
I am currently a retail forex trader. It has come to my attention that the NFA is considering a maximum leverage of 10:1. This
news will only serve to deter forex traders from exploring this exciting market. This in no way "helps" the retail forex trader,
especially the ones with a modest account. Those that have large accounts may keep plugging away, but you will end up
alienating the masses. All the NFA will succeed in doing is driving others to pursue off shore forex brokers. There is no
shortage of brokers who will gladly take the business. The NFA will end up hurting a lot more than it "thinks" it is helping. If
it is truly your aim to protect forex traders, then do not impose these margin requirements. I want to still be able to trade a
modest account and not be forced to risk a lot more. Please do not proceed with this new margin proposal.
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