Comment Text:
i0-001
COMMENT
CL-03338
From:
Sent:
To:
Subject:
C Cluster
Saturday, January 23, 2010 4:12 PM
secretary < secretary@ C FTC. g ov >
Regulation of Retail Forex RIN 3038-AC61
David Stawick
Secretary, Commodity Futures Trading Commission,
1155 21st Street, NW,
Washington, DC 20581
To Whom It May Concern:
I am writing this e-mail to voice my strong disapproval and disgust towards this new rule that will
change the ability of smaller investors to access the forex markets. I do not agree that changing
leverage from 100:1 to 10:1 is beneficial. I agree that it may potentially reduce risk for the
brokerage firm but it in no way benefits the regular trader/investor. Once again, these regulations
are hindering the ability of average people to access the markets based on their limited capital.
I am not sure Mr. Secretary as to what your role is in this matter. If my opinion matters at all, I
would like you to express your disapproval for this new regulation. Ironically, all this talk about
protecting the average "joe" or regular investor is a pile of rubbish as only the wealthy investor can
remain in the markets if this rule is passed. What happened to looking out for the regular guy or
"main street" as our current president preaches from his pulpit but seems to completely disreagard
in his policies.
Feel free to contact me if you need me to comment further. I will definitely move my accounts to
the UK or anywhere else where I can trade without this impediment and I will encourage all of my
forex friends to do the same. The leverage was once 400:1, now it is 100:1. What's next, 1:1?
Then how could any average investor be expected or capable of participating in this business when
brokerage firms require such a large degree of leverage.
Yours truly against this entire proposition,
Curtis Cluster
20 Harvest Ave
Buffalo, NY 14216
E:mail: [email protected]
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