Comment Text:
i0-001
COMMENT
CL-04238
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Patrice marchand
Wednesday, January 27, 2010 9:51 AM
secreta ry < secreta ry@ C FTC. g ov >
Regulation of Retail Forex
Hi.
I'm that little guy who started trading a few years ago and who is now making a decent living out
of it. I pay income taxes as well.
There are only one way you could get me out if this business and this is passing this 10:1 leverage
rule. I think it would kill this entire industry
and once again, leave the good stuff to the big guys...I assume there's a bunch of income taxes
coming from retail forex traders and I'm sure you cannot afford to lose it.
Retail forex also creates jobs...which I assume you cannot afford to lose either.
I live in Canada so for my part, I'll just move my account elsewhere...like everybody else...it won't
solve the problem (Even if I don't see an problems), it will just help brokers in other country
to take a bigger chunk of this market thus keeping the taxes, jobs and benefits for themselves and
leaving the USA in the hole once more.
I love your country because it represents freedom...I now have doubts.
WE traders have not much to lose in this regulation...we'll move offshore but you regulators...have
much more to lose. 100:1 was fine...even brilliant...but 10:1 is way too tight.
Thank you for reading me and all the orders who are taking time to let you know our concerns
Patrice Marchand
7395 de gasp~ #6
montreal, qc, ca
h2r lz7
1-514-656-0765
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