Comment Text:
i0-001
COMMENT
CL-02807
From:
Sent:
To:
Subject:
Franz
Friday, January 22, 2010 3:40 PM
secretary
Regulation of Retail Forex
Dear Secretary,
Evidently there is consideration of raising the Forex leverage for retail customers to 10-1 maximum from
a current 100-1 ratio, Ref, ID # RIN 3038-AC61,
As a participant in Forex trading, imposing such a leverage would disqualify me from participating unless
I transfered my account to a foreign country, This would in fact cause a max exidus of accounts from the
U,S,
Although good regulation can be beneficial, in this case I believe it is not. Many individuals participate in
the Forex marketplace and more are sure to come. Probably the majority have small accounts like myself
under $10,000. This would absolutely stifle our attempt at potential profits and enhancing our lives where
we have but little else to apply our efforts. It would be devastating to me if this door to Forex were
closed.
The inherent risks in Forex and the responsibility to accept those risks are more than adequately
explained. Individuals that trade in Forex are responsible for themselves and it cannot be regulated upon
them.
An irresponsible individual would do the same things at whatever leverage amount they use.
You cannot regulate responsibility which is what you are trying to do. you can only make individuals
aware of it.
Thank you,
Franz Reiter
