Comment Text:
i0-001
COMMENT
CL-03986
From:
Sent:
To:
Subject:
Ian Chilley
Tuesday, January 26, 2010 5:14 AM
secreta ry < secreta ry@ C FTC. g ov >
Comments on Proposed Regulations Regarding Retail FOREX
Transactions
Dear Sir,
With regards to RIN 3038-AC61
As a forex trader with 2 years experience in the retail forex market, I understand that some
regulation is required with regards to certain brokerage practices. However I have to register my
strong disagreement with the leverage limit being downgraded to 10 to 1 maximum.
I believe this limit is too low and would mean many thousands of current small traders leaving the
US market. In my position I trade with OANDA in the US and at 10 to 1 would not be able to follow
my current successful money management system. I would move my capital to OANDA Singapore
to continue trading.
A more sensible leverage maximum would be 50 to 1 which would limit excessive leverage offered
by unscrupulous brokers.
Yours sincerely
Ian Chilley
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