Comment Text:
i0-001
COMMENT
CL-00288
From:
Sent:
To:
Subject:
mark mcdonnell
Monday, January 18, 2010 2:17 AM
secretary
CFTC proposed 10:1 spot forex leverage rule
The CFTC proposes what I would term a completely unneccessary and actually, a silly rule. I am not a
broker but I work with forex traders daily.
The CFTC could do so much to make the industry better, but this proposed rule is awful and makes the
industry worse.
Also the CFTC has not explained why they are proposing the rule, the language is vague and unclear, as
is all of their proposals, nobody can ever understand what they are really trying to do or what their intent
(or hidden agenda) really is.. They should re-propose the rule with a clear statement and list the exact
reasons as to why it is being proposed.
One example is papertrading, making forex traders papertrade, within some guidelines, would be much
better protection for forex traders. Changing the leverage is lunacy, everyone will move their money to
the UK anyway. Do something right for forex traders not screw around with the leverage, every broker
will have a canadian office in 6 months if this passes and the government will have effectively killed a
domestic industry, again.
Mark A. Mc Donnell, Owner
www.theforexheatmap, com
Monitors 20 ~u.!~.e.~.c.z.~qi..~.i in Real Time and Verifies Your Entries
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