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Comment for Proposed Rule 75 FR 3281

  • From: MyMisc
    Organization(s):

    Comment No: 2667
    Date: 1/22/2010

    Comment Text:

    i0-001
    COIMMENT
    CL-02667
    From:
    Sent:
    To:
    Subject:
    MyMisc
    Friday, January 22, 2010 11:48 AM
    secretary
    Regulation of Retail Forex
    Reference: RIN
    3038-AC61
    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 10-to-1
    limitation," which means 10:1 leverage would be the maximum amount allowed for all Forex traders in the U.S.
    Decisions like this receive a resounding NO!! This is not necessary so please quit trying to ram over regulation
    down the throat of the American trading community. When you propose these really dumb regulations you sound
    just like obama and his merry band of mindless followers who want to control the world. The American people are
    very tired of being over regulated, all you will succeed in doing is driving our trading accounts outside the US and
    bankrupting brokers established in the US.
    You people at the CFTC and the NFA are making irrational decisions of late and are thereby making it impossible
    for traders to maintain trading accounts in the United States. If you continue to pursue your current path of making
    it difficult for traders I and many others will simply move our accounts out of the United States. Because of recent
    NFA decisions and over regulation I, for one, am already exploring non-US Forex brokers.
    May Our Gracious Savior and Lord Jesus Christ Bless and keep you.
    "God grant me the serenity:
    To accept the things I cannot change;
    Courage to change the things I can;
    And Wisdom to know the difference."