Comment Text:
i0-001
COMMENT
CL-03802
From:
Sent:
To:
Subject:
Mohamed Noira
Monday, January 25, 2010 3:11 PM
secretary < secretary@ C FTC. g ov >
Regulation of Retail Forex
ID number RIN 3038-AC61.
I am writing to give my opinion about the proposed regulations of leverage changes.
I did trade forex with a broker in the US that give a very high leverage (200 and more) regulated
by Federal Financial Markets Service (FFMS) of Russia;
and I lost all my money. I believe that it was a good experience for me because even if the broker
wasn't honest, I learned from my mistakes.
Now that I want to trade forex, I want to trade with a broker regulated by the NFA. But I am
unemployed, and I don't have enough capital to trade
with a leverage of 10:1.
Since I am trading forex principally to fund a master's degree; it's to my risk to trade with a
leverage of 100:1.
Maybe financial institutions should be more regulated, but as an individual trader I should be able
to trade with a levarage appropriate for my risk.
Kind Regards,
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