Comment Text:
i0-001
COMMENT
CL-03827
From:
Sent:
To:
Subject:
Alexa
Monday, January 25, 2010 4:24 PM
secretary
Proposed Leverage Changes in Forex
To Whom it may concern;
Many of my fellow traders are very concerned about the proposal to limit the maximum leverage in forex trading to
10:1.
This would virtually eliminate all smaller traders and result in the loss of yet more business in the US.
Those of us who are serious traders have invested much time and effort to learn to trade properly understanding
that this is our business and not a "get rich quick" endeavor. We have also invested monetarily in our business
by taking courses, reading and attending educational seminars and learning proper money management.
Instead of reducing the maximum leverage to a level that will put most of us out of business perhaps any changes
should limit the use of 200:1 or 400:1 as some brokers offer leaving the maximum at 100:1 with traders being
allowed to opt for lower levels if they choose.
By restricting traders to 10:1 leverage you will put us out of business and prove once again that there is no place
for the little guy as you will have sided with those have accounts of $300,000 or more because that is the
minimum it will take to trade and make money with such reduced leverage.
Please do not do this.
Sincerely,
Alexa Wilde
