Comment Text:
i0-001
COMMENT
CL-02848
From:
Sent:
To:
Subject:
C.J Jackson
Friday, January 22, 2010 4:21 PM
secretary
Regulation of Retail Forex
Mr. Stawick,
I happen to be a big fan of sensible regulation. I've heard of 400:1 leverage being given to some forex
traders in the past, and I think that is ridiculous. I even think 200:1 leverage is ridiculous. But your
proposal for 10:1 leverage is equally as ridiculous on the other end of the spectrum. Now some traders
will choose 10:1 leverage as a personal choice but for all of us without millions to invest, the only way
to make slight profits in the foreign exchange market is to have up to 100:1 leverage. This is not an
extreme level on the either end of the spectrum. And if the leverage isn't extremely high or extremely
low (like 10:1) then it must be perfect. I understand the politics in Washington right now for harsh,
sweeping regulations across the board. I'm not the type of person that will try to tell you how to do your
iob, I just try to give practical advice. Don't just hammer the forex traders for no real reason. This
appears to just be political and sometimes pure political regulations can have negative outcomes. This
100:1 leverage in the forex market is not a threat to the economy. And mandating 100:1 leverage as the
max in the forex markets is the sensible thing to do.
ID # R1N 3038-AC61
I hope you do the right thing.
