Comment Text:
i0-001
COMMENT
CL-04216
From:
Sent:
To:
Subject:
Rick.
Wednesday, January 27, 2010 4:19 AM
secretary
Regulation of Retail Forex.
As a forex trader, just a comment regarding the proposed 10-1 leverage limitation.
Forex trading allows the small investor with little capital to get started in trading which they would" nt
otherwise be able to do, a 10-1 leverage limit would severely disadvantage these small traders and
would also prevent a lot of them from trading, Leverage of 10-1 will make it hard to make any money
with small trading accounts. Even if your trading with a larger account it will also cut the amount that
can be made with a USA broker, so it would effect everyone whatever there account size is, large or
small.
USA forex brokers will also be very effected by this 10-1 proposal with many traders leaving.
I personally use Oanda for my forex trading because I think there one of the best in the business, unlike
many if not most US forex brokers with leverage of 100-1, Oanda" s limit is 50-1, F m quite happy
trading at 50-1 and don't beleive this is risky at all, I think it's a happy medium, but i know a lot of
traders prefer 100-1 leverage and I think they have every right to able to trade at 100-1, including
myself.
As one trader said, you are supposed to be there to provide a safe environment to trade in, not kick us
out of the game.
