Comment Text:
i0-001
COMMENT
CL-00459
From:
Sent:
To:
Subject:
Matt Tague
Tuesday, January 19, 2010 10:33 AM
secretary
Proposed Forex Leverage Requirement Changes
To whom it may concern,
As a US Forex trader, I am writing to inform you of my strong
opposition to the proposed leverage requirements which I understand
would force traders to adopt lower leverage.
Forex trading is by it's very nature a speculative activity and I feel
that the industry in my experience takes great pains
to make users aware of the inherent risks involved with leverage. I
personally do not use high leverage amounts of say 100:1 or
higher but I would like the option to be able to should I so choose
and certainly don't need the CFTC to protect me.
People that need to have their leverage capped by the CFTC frankly
should not be active in the forex market anyway.
Please focus your efforts on the many other abuses in american finance
today that affect average people who really are hurt, like excessive
debit card fees and bank failures to disclose accurate interest rates
on those cards, skirting the law by calling the fees convenience fees.
Please leave traders that want to speculate with their own money and
manage their risk like adults alone to engage in the free market
practices that make our country great.
Best regards,
Matt Tague
