Comment Text:
i0-001
COMMENT
CL-02593
From:
Sent:
To:
Subject:
[email protected]
Friday, January 22, 2010 10:30 AM
secretary
Public Comment Form
Below is the result of your feedback form. It was submitted by
([email protected]) on Friday, January 22, 2010 at 10:30:17
commenter_subject: 10:1 leverage change WRONG
commenter frdate: 1/22/10
commenter_frpage: 1
commenter_comments: You will ruin retail FX trading in the US if you
pass this regulation. It does NOT protect the
[]little guy, [] rather it serves the interests of
the large brokers and futures dealers who don [] t
want competition and want to eliminate spot FX in
favor of currency futures. Leverage allows us to
keep most of our funds in safer places rather than
exposing them to uninsured brokerage account pools.
Sure some people misuse leverage to their own
detriment, but you can [] t fix stupid. They [] 11
find some other way to lose their money. I for one
will take my business to offshore brokers if you
pass this regulation and I [] m sure most retail FX
traders will as well. The current warnings are
more than sufficient. When I first started I was
fully aware of all the risks from the disclosures I
had to sign and I don't need your Italian-style
"protection".
commenter name: Caleb Salmon
commenter addressl: 9711 Streeter Rd
commenter_city: Janesville
commenter state: IA
commenter_zip: 50647
commenter~hone: 319-230-6334
