Comment Text:
i0-001
COMMENT
CL-00348
From:
Sent:
To:
Subject:
Mark Raguse
Monday, January 18, 2010 3:50 PM
secretary
Regulation of Retail Forex
Dear Secretary,
I wish to register the strongest possible disagreement with the current
proposal to limit the leverage available to retail forex traders to 10:1.
I am a small trader who trades infrequently, perhaps 8 to 10 times a year.
When I see an opportunity to invest, I must have access to leverage higher
than 10:1 in order to make my strategy worthwhile. In fact, if leverage is
regulated to a maximum of 10:1, I strongly doubt that I will be able to
continue as a trader. I need to have that option to choose higher leverage
at times when I need it. In short, the limiting of leverage to 10:1 will put
me out of business.
My retail forex broker offers a range of leverage settings from 10:1 up to
50:1 and it seems to me that this is the way to go. If you must regulate,
then make it mandatory for brokers to offer their clients a range of leverage
settings.
I trust my comments will be heard.
Mark Raguse
Princess Ave
Ballina NSW 2478
