Comment Text:
I0-001
COMMENT
CL-03846
Froln:
Sent:
To:
Subject:
jibrailu maliyogbinda
Monday, January 25, 2010 4:58 PM
secretary
Regulation of Retail Forex
Dear Sir/Madam,
Recently it has come to our notice the new regulations proposed by your commission about retail forex
with the intend to limit leverage within 10:1 instead of the current 100: l. In as much as we appreciate
the steps being taken to limit the losses retail traders are exposed to due to wide leverage; i cannot help
but say that this new proposed regulation is being fashioned to skimmed out retail traders on the off-
exchange market. What is important is the fact that every retail trader should be educated about potential
risk associated with such leverage as 100:1 and should be left to make his/her investment decision but
not to pretend you are helping the retail forex traders by skimming them out and leaving institutions to
dominate the off-exchange market. I STRONGLY OPPOSE THIS REGULATION YOUR
COMMISSION IS COMTEMPLATING AND ADVICE YOU AND YOUR COMMISSION TO DROP
IT IN THE INTEREST OF RETAIL FOREX.
Thank you.
Lot Jibrailu Maliyogbinda, Nigeria.
