Comment Text:
i0-001
COMMENT
CL-02735
From:
Sent:
To:
Subject:
rose McAfee < rosemcafee_@ hotmail.com >
Friday, January 22, 2010 2:09 PM
secreta ry < secreta ry@ C FTC. g ov >
Regulation of Retail Forex
I just want to express my view of the proposed changes to theforex market. It comes across as a
bad idea not only for the average investor but also the brokers in the United States. Asa Canadian
using an American broker I will have to close my account and take my business elsewhere because
the attraction of theforex market is the leverage. It is not the government's job to protect
people from themselves. If people don't understand leverage they shouldn't be in the market. Any
investor who fails to educate themselves about leverage and all the other particulars to the market
will eventually lose their money. The government can't hold everyone's hand and should't have to.
The average investor and the forex brokers should not be penalized to save some people from
themselves. One requirement of the brokers may be a requirement to explain leverage to a new
client but after that it is buyer beware. On the whole I don't think the government should be
implementing any rules that are going to cause brokers to lose clients and that is what will happen
if this new 10:1 leverage rule is put in place. I quarantee you that I will close my account and look
elsewhere. Thank You for the opportunity to express myself.
Rose McAfee
1328 Stonecutter Drive
Oakville, Ontario Canada,
L6M 3C5
905 469 9211
