Comment Text:
i0-001
COMMENT
CL-02858
From:
Sent:
To:
Subject:
Mick Lewis
Friday, January 22, 2010 4:38 PM
secretary
Regulation of Retail Forex
Dear David,
I have just read the CFTC has announced that it is proposing to regulate the amount of leverage that can be used. Just last
year maximum leverage was changed from 400:1 to 100:1 and RIN3038-AC61 proposal is to change the maximum amount
of leverage to 10:1. This action will drive all small time traders as myself completely out of the market.
The forex market was opened to everyone to invest in some 12 or so years ago. I believe these regulation will mark the Forex
market only available to large companies and banks.
The regular Joe the plumper like myself, Will NOT be able to stay in the Forex if these changes are made.
Sincerely
Mick Lewis
