Comment Text:
i0-001
COMMENT
CL-00470
From:
Sent:
To:
Subject:
colin old
Tuesday, January 19, 2010 10:46 AM
secreta ry < secreta ry@ C FTC. g ov >
Regulation of Retail Forex
From: [email protected]
To: secreta [email protected]
Subject: Proposed reduction of leverage limits for retail forex trading
Date: Tue, 19 Jan 2010 09:42:57 -0600
To whom it may concern, ID # RIN
:~0:~8-AC61
100:1 leverage is good for me as I have rigid rules on losses. Currently the forex
brokerages also have margin mechanisms in place whereby they will take you out
of a trade prior to the trade becoming a problem of owing more than is in an individual's
account.
I fail to understand why you are so set on throwing so many retail forex traders out
of trading alltogether as this is exactly what your new 10:1 proposal will do.
Why don't you just leave us alone and go after the thieves you continually back up
on Wall Street?
The fall-out of your proposal will be for (even more) individual forex retail traders to either
leave the country or just trade with a foreign company.
I will be one of those traders who takes his business overseas if this 10:1 leverage is passed!!
I currently enjoy working through GFT here in the United States but will leave them in
the blink of an eye if this new proposal passes.
It seems you are dead set on destroying American retail forex brokerages - well done!!
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