Comment Text:
i0-001
COMMENT
CL-03496
From:
Sent:
To:
Subject:
Gary Aguiar
Sunday, January 24, 2010 10:48 AM
secretary
"Regulation of Retail Forex"
Dear Mr. Stawick
I love the fact that everyone will have to register, brokers, etc. that leaves less chance for the little guy
like me to get scammed.
But the 10:1 rule will make it impossible to continue to trade in the U.S.
I got into the forex because of the possibility to make good extra money or a great living if I so choose.
That is the key word here CHOOSE, what you propose will take away our ability to choose and make it
impossible for anyone except the very big guy to make a profit.
This will cost as many jobs as people it will protect, and will cause most to move to offshore brokers,
including myself.
As an adult I should have the right to make an informed decision or an uninformed decision, but it
should be mine to make.
By you forcing the registration you help to eliminate the scammers, but 10:1 will also eliminate most
opportunities.
If I make money I will be spending it here in the United States, to a company in the United States, if I
lose money I will be spending it in the United States.
Everyone involved will be making some money and spending it here in the United States.
The 10:1 rule will force most US forex businesses to go off shore, or out of business, causing most
traders to also trade elsewhere.
I don't have 10 years to make what I could have made in 1 year, or 20 to make what I could have made
in 2.
There are a lot of older folks and even retired folks that are either making extra income or like the
possibility of making extra income in the forex market, the forex and 100:1 200:1 etc. affords them that
opportunity.
Why do so many people want to move to the United States? Because of the opportunities, because of
Freedoms, one of which is the freedom to choose for them selves.
10:1 will take that away from most and force most offshore.
Please think of the long term consequences of this 10:1 rule.
Everyone has to read the Disclosure, or Disclaimer
and should understand the risk of higher leverage and also the possible benefits of the higher leverage.
Forex was opened the the general public, ME only a few years ago, giving people with little start up
capital a chance to also make money.
10:1 will send it right back to the deep pockets and take away mine and thousands of others ability to
trade, at least here in the United States.
Are you really thinking this out? Are you thinking about how many jobs it will cost, how it will affect
tens of thousands, how many brokers will go out of business, or move over seas, that all the money that
now comes into the United States will now go elsewhere.
This will hurt the majority and help the few, by leaving the higher leverage it will be hurting the few and
help the many.
Thank You Gary
