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Comment for Proposed Rule 75 FR 3281

  • From: Gui L Zhao
    Organization(s):

    Comment No: 3968
    Date: 1/26/2010

    Comment Text:

    i0-001
    COMMENT
    CL-03968
    From:
    Sent:
    To:
    Subject:
    zhaoguilan2001
    Tuesday, January 26, 2010 1:34 AM
    secretary
    Regulation of Retail Forex
    To whom it may concern:
    I am a forex trader in China and I have been using US brokers for several years
    and very satisfied. Compared with other countries brokers, the aspects of US
    counterparties appealing me, which I think apply to other countries clients also,
    are:
    1, Strong and respectable regulation bodies,
    2, Sound and sophisticated financial infrastructure,
    3, US as a country have a tradtion for the protection of international investors,
    4, US based forex firms are generaly more financially solid and well-managed.
    Regarding your recently regulation proposal, I fully agree to enhance industry
    oversight, but I don"t like put any restrictions on leverage. Leverage is a very
    important tool for us seeking financial freedom as your Amercian, and lowering
    leverage dramatically like this will not only hurt our clients feeling but also drive us
    to other countries (ie. unregulated) brokers despite above advantage. This is not a
    win-win situation, it"s a lose-lose situation that you probably wouldn"t expected.
    Please reconsider your proposal.
    Regards,
    GUI LAN ZHAO