Comment Text:
i0-001
COMMENT
CL-04515
From:
Sent:
To:
Cc:
Subject:
HB HENDERSON
Friday, January 29, 2010 9:16 PM
secretary
HB HENDERSON
Regulation of Retail Forex:
RIN3038-AC61
Dear Mr Secretary:
It has been brought to my attention by GFT that proposed Leverage Changes would adversely affect
my ability to stay in the currency market. I strongly urge you to reconsider as this would most definitely
force me out and I'm sure limit any small investors possibility of ever getting into the market. If that is
your purpose then how are we ever going to get back in? Thank You H Henderson
From : [email protected]
To: [email protected]
Subject: Deadline for CFTC's Proposed Leverage Changes
Date: Fri, 29 Jan 2010 16:32:24 -0600
View this email as a web page.
Dear valued GFT customer,
The recently proposed margin changes by the U.S. Commodity Futures Trading Commission (CFTC) could increase the
minimum margin requirement to 10 percent (10-to-1 leverage), which could destroy the U.S. retail foreign exchange
industry.
If you were trading a major currency pair, this is how the CFTC's proposed regulatory restrictions would affect your margin
requirement:
Maximum Leverage under
Current
Regulations
USD/JPY
1 lot (100,000)
100:1 leverage (one percent)
Margin requirement: $1,000
Maximum Leverage under
Proposed
Changes
USD/JPY
1 lot (100,000)
10:1 leverage (10 percent)
Margin requirement: $10,000
Based on the above example, positions will require much more capital, and eliminate a large number of potential and
existing market participants.
As the March 22, 2010
deadline for public comments
nears, the CFTC needs to know that the proposed leverage
regulation would be devastating to forex traders in the U.S. You can voice your comments directly to the CFTC at
[email protected].
Please include 'Regulation of Retail Forex' in the subject line of your message and the ID number RIN 3038-AC61 in the
body of the message. You can also submit your comments by any of the following methods (include above I D number):i0-001
COMMENT
CL-04515
¯ Fax: (202) 418-5521
¯
Mail: David Stawick, Secretary
Commodity Futures Trading Commission
1155 21 st Street, N.W.,
Washington, DC 20581
¯
Courier: Use the same as mail above.
We feel that it's important that as a forex trading customer, you must make your feelings known to the CFTC that this 10:1
leverage rule must not stand, or your ability to trade forex on a leverage basis will end.
As always, we thank you for your business and support.
Best Regards,
GFT
616 956 9273 616 956 9273
US MAIN
800 465 4373 800 465 4373
TOLL FREE
IMPORTANT NOTE: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree
of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment
objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and
therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange
trading, and seek advice from an independent financial advisor if you have any doubts. Past performance is not necessarily indicative of future
results. © 2010 Global Futures & Forex, Ltd. All rights reserved. CD05U.508.012910
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