Comment Text:
i0-001
COMMENT
CL-04129
From:
Sent:
To:
Subject:
chris@ncsurfers, com
Tuesday, January 26, 2010 6:18 PM
secretary
Public Comment Form
Below is the result of your feedback form. It was submitted by
([email protected]) on Tuesday, January 26, 2010 at 18:17:45
commenter_subject: Regulation of Retail Forex
commenter_frdate: January 20, 2010
commenter_frpage: 3317
commenter_comments: Dear Sirs, when I found out about the proposed 10:1
margin levels (article 5.9 Security deposits for
retail forex transactions)I was outraged.
It appears that the CFTC is in lock step with the
rest of big government Hell bent on creating a
socialist nanny state. We private citizens are not
as naive and incapable of rational financial
decision making as the CFTC would like to think.
Regulation is fine when it protects the consumer,
but is foolish when all it does is restrict the
individual from progress.
I've invested a great deal of time to properly
delve into the world of forex trading. All along
the way I have been warned about the risks
involved, not just from the groups that help you
learn but from the financial institutions involved
as well. We all realize the risks involved and I'm
sure there are very few who throw away hard earned
money without the understanding that there is
significant risk involved.
Has the CFTC forgotten that there are such things
as micro accounts and demo accounts available to
thoroughly test one's trading methods with little
or no risk?
One of the most appealing aspects of forex trading
is the ability to leverage your money without
interest rates and excessive transaction fees
allowing for a more level playing field for the
individual investor.
I guess regulation for regulation's sake is the new
norm. Maybe someone should consider regulating
lottery ticket purchases? No, I don't think those
people would be any more interested in the ideai0-001
COMMENT
CL-04129
than I am of the CFTC's to regulate margin levels!
Freedom is often taken for granted until it's gone,
I for one shudder at the thought of ~vhere this
great country is headed!
commenter_name: Thomas Christopher Robertson
commenter ~vithhold address on: ON
commenter_addressl : 228 Dog~vood Stand Rd
commenter_city: Delco
commenter state: NC
commenter_zip: 28436
commenter~hone: 9106559035
