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Comment for Proposed Rule 75 FR 3281

  • From: Meherban Faroogh
    Organization(s):

    Comment No: 311
    Date: 1/18/2010

    Comment Text:

    i0-001
    COMMENT
    CL-00311
    From:
    Sent:
    To:
    Subject:
    Meherban Faroogh
    Monday, January 18, 2010 11 : 11 AM
    secretary
    Regulation of Retail Forex
    Dear Sir / Madam,
    I understand that your organization is proposing to reduce the forex leverage from 100:1 to 10:1 for
    retail forex traders. I believe the relevant regulation number is RIN 3038-AC61.
    There are other items in your proposal around managing the net capital requirements for FCMs which I
    applaud.., but would respectfully request you not to propose or pass the 10:1 leverage in retail forex
    which would kill the forex market in the USA
    If you do pass this law, then the retail traders will definitely move over to other FCMs who offer 100:1
    and more around the world, and are not regulated (i.e. much risky).., which poses a much higher
    consumer risk, in my opinion.
    I thank you for your understanding.
    Regards,
    Meherban Faroogh
    Forex Trader
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