Comment Text:
i0-001
COMMENT
CL-04415
From:
Sent:
To:
Subject:
[email protected] <" omcken@j uno.com">
Thursday, January 28, 2010 11:43 PM
secretary
Regulation of Retail Forex
I oppose the proposed changes in retail forex to reduce trading leverage to 10:1 . 10:1 is CUlTently an option when opening an
account, and this I believe should be the choice of the trader what leverage they want to use. For most trades the lower
leverage is actually adding more risk, because instead of opening say $1000.00 account you will have to open a $10,000.00
account, with the same possibility of losing it. This will also cause people employed by most US brokers to lose their jobs,
because I can guarantee you that I will be moving my accounts overseas. There may also an impact on taxable earnings for
the government as some people may be less obliged to report income from trading of account is with overseas broker.
So, please don't go ahead with these changes. The option is there, let there be freedom of choice.
Thanks
Omar
917.306.4754
