Comment Text:
i0-001
COMMENT
CL-03597
From:
Sent:
To:
Subject:
[email protected]
Sunday, January 24, 2010 7:00 PM
secretary
Regulation of Retail Forex
To whom it may concern:
As a FOREX trader, I applaud many of the regulations you are proposing. My firm MB
Trading already has most if not all of the precautions in force.
I do NOT agree with the change in maximum leverage requirements. By changing the
leverage from 100:1 to 10:1 you make trading FOREX much less advantageous. It pushes
the small trader out of the market. You have to believe in trader's education of themselves.
You can not regulate learning. The FOREX firms I deal with have numerous tools to limit loss
- multiple stop loss options. Maybe FOREX firms need to limit orders to only orders that have
an "exit plan" within the trader's account means. But that should be between the firm and
the trader.
Please take this into consideration.
Sincerely,
Julia Ward
Atlanta, GA
