Comment Text:
i0-001
COMMENT
CL-04590
From:
Sent:
To:
Subject:
Bill Merritt
Saturday, January 30, 2010 1:16 PM
secretary
Proposed changes for FOREX trading
Good morning,
Just wanted to express my utmost displeasure and opposition to the increases proposed for small account
traders. It leads me to only one conclusion. Fewer traders, larger accounts, easier to manage, potential of
greater profit for brokers. It follows the trend and current line of thinking that it is the banks, brokerage
houses, investment firms that require the protection from government while being assured a greater
profit at the traders expense.
Perhaps I can suggest a different view. More small account traders, even lower spreads, greater
competition, and let the market (traders) determine the champions.
If you are willing to allow trade with restrictions while passing on costs to traders for the sake of the
brokers, you now become a partner and the enabler for the eventual demise of capitalism.
You can add all of the fees they would like, but without traders, I doubt they will continue to exist.
Thanks for listening,
Bill Merritt
Phoenix, AZ
