Comment Text:
i0-001
COMMENT
CL-00300
From:
Sent:
To:
Subject:
Samirah
Monday, January 18, 2010 7:50 AM
secretary
Regulation of Retail Forex
Mr. David Stawick
Secretary, Commodity Futures Trading Commission
1155 21st Street NW
Washington, DC 20581
Mr. Stawick:
I applaud the CFTC for its intent to protect the retail forex trader. The registration,
capital, and disclosure requirements seem to be a good idea.
However, the recently proposed CFTC regulation that would implement a limit of 10:1
leverage on retail 4X trades is both an outrage and a travesty. It will virtually destroy
the retail 4X trade in the US and our US Brokers, along with the jobs they provide. It
will not protect the traders; it will simply drive them to more dangerous off shore
dealers and less protection. In the end you will only hurt the people you purport to
serve while utterly failing the vital mission of finding and prosecuting criminals.
Samirah Amatullah
