Comment Text:
i0-001
COMMENT
CL-02979
From:
Sent:
To:
Subject:
Giscard Presume
Friday, January 22, 2010 7:29 PM
secretary
Regulation of retail forex
I am currently a retail forex trader. It has come to my attention that the NFA is considering a maximum
leverage of 10:1. This news will only serve to deter forex traders from exploring this exciting market.
This in no way "helps" the retail forex trader, especially the ones with a modest account. Those that have
large accounts may keep plugging away, but you will end up alienating the masses. All the NFA will
succeed in doing is driving others to pursue off shore forex brokers. There is no shortage of brokers who
will gladly take the business. The NFA will end up hurting a lot more than it "thinks" it is helping. If it is
truly your aim to protect forex traders, then do not impose these margin requirements. I want to still be
able to trade a modest account and not be forced to enter the market with a lot more. Please do not
proceed with this new margin proposal. I understand that you think these are really good rules. I applaud
you for proposing closing registration loopholes. But, I ask you this; What will it matter regulating
registration loopholes if there aren't any US forex businesses left to register?
Giscard Presume
Do your own thing on your own terms and get what you came here for.
