Comment Text:
i0-001
COMMENT
CL-04226
From:
Sent:
To:
Subject:
Beverly Bansil
Wednesday, January 27, 2010 7:22 AM
secretary
proposal to change leverage to 10:1
January 26, 2010
To Whom It May Concern:
I am writing in response to the public proposal to change the leverage of US based Forex accounts to
10:1. I believe with this change, a lot of US based Forex accounts would
be greatly affected, as well as, US Forex brokers. With this change, a lot of US Forex account holders
would be forced to close their accounts due to high required margin call. I, myself, a small time Forex
trader will definitely close my account and open an offshore account somewhere, like UK, where
brokers offer leverage as high as 200:1.
If significant numbers of account holders will move their accounts abroad, I think our fragile economy
will be affected due to probable loss of revenues by US brokers.
Lastly, traders are warn about the risks of high leverage trading before account opening and if they
accept the risk and responsibilty, then they should not complain about their losses.
Forex trading requires a lot of skills and knowledge, and if they imposed this high leverage margin here
in the US, a lot would be discourage to invest here, another negative
impact on our economy and forex market.
This is like shipping jobs overseas, with this case, shipping Forex accounts overseas, please do not let
foreign brokers benefit from this change.
Respectfully Yours,
Beverly Bansil
Forex Trader
