Comment Text:
i0-001
COMMENT
CL-02664
From:
Sent:
To:
Subject:
JAMES WALL
Friday, January 22, 2010 11:45 AM
secreta ry < secreta ry@ C FTC. g ov >
Leverage limits to Retail Forex trading
Hello,
I am a retail Forex Trader and am alarmed at the proposed regulations that would limit retail
traders to 10 to 1 leverage (see quote below). This regulation would substantially destroy my
ability to profit in the retail forex market. I am extremely opposed to this, and see no reason for
this regulation. Retail traders understand the financial risks with trading highly leveraged
positions and know how to manage them. Risk management is a basic part of every Forex class
I've taken. We don't need the government to protect us from ourselves, and thereby severely limit
our ability to profitably trade!
Again, I'm very opposed to such a limit.
Would you kindly explain your reason for such a regulation?
Kind regards,
Jim Wall
As many of you are aware, the U.S Commodity Futures Trading Commission
(CFTC) announced on January 13, 2010 that it is seeking public comment on
proposed regulations concerning retail Forex trading.
As part of the proposed regulations, it is stated." "leverage in retail forex
customer accounts would be subject to a lO-to-1 limitation, "which means 10:1
leverage would be the maximum amount allowed for all Forex traders in the U.S.
