Comment Text:
i0-001
COMMENT
CL-03501
From:
Sent:
To:
Subject:
ishamil ahmad
Sunday, January 24, 2010 11:14 AM
secretary
Regulation of retail forex RIN 3038-AC61
Dear Sir,
I'm Ishamil Ahmad from Malaysia and currently having an account with one of your country top leading
forex broker IBFX. I'm called to relay an email to your organisations as i am very concern about
rumours saying that CFTC has made a proposals to limit a leverage to as low as 1:10 and it is so
surprising for our fellow traders in our country too. As much as we are concerns that the individual
retailers is growings rapidly in our country and most of the traders generally having an accounts with
your country forex brokers.
So as many of us is having a small amount of money when converts into US dollars and to have that
kind of news from cftc's is really a heart broken. We really hope that your organisations and your
government could give us a space to breath as many of us cannot afford to have such a big amount of
capital to start tradings.
If your proposal is implemented then a lot of us will have a big difficulties to survives in this industries.
Our fellow traders here are hoping that your organisations will reconsider the moves that you may
imposed soon. We have faced a first rounds hit by the move when your organisations has imposed a
restrictions on having high leverage of 1:200 and has limited it to only 1:100. Eventhough that new
regulations is quite tough for us, we are still doing trades but indeed in a more highly carefull trades.
To last we do hope that the proposals could be redrawn as to gives all the small account individual
retailers to share a little piece of cakes from the substantial big sizes of cakes there are to be shared
among giants.
Sincerely.
Thank you.
