Comment Text:
i0-001
COMMENT
CL-04607
From:
Sent:
To:
Subject:
Mo
Saturday, January 30, 2010 5:14 PM
secretary
Regulation of Retail Forex
RIN 3038-AC61
I would like to express my objection to the proposed regulation of retail Forex trading which reduces
allowed leverage to 10-to-1. I should be given the freedom and right to choose the amount of leverage
that is appropriate for my individual desired risk, and that this basic principle of 'choice' is in jeopardy
by the proposed CFTC regulations.
The CFTC's job is to prevent fraud, not tell traders how much risk they can use. This regulation will also
harm U.S. brokers since many clients will move their accounts to foreign firms.
An alternative to the proposed regulation would be a new rule requiring brokers to better explain
leverage to new clients. It would be easy to implement and not be intrusive to experienced traders.
Regards,
Peter Moss
Glendale, AZ
