Comment Text:
i0-001
COMMENT
CL-00552
From:
Sent:
To:
Subject:
[email protected]
Tuesday, January 19, 2010 1:00 PM
secretary
Regulation of Retail Forex
RIN 3038-AC61
As a retail forex trader, and someone who understands how leveraged trading works,
please do not imposea 10:1 leverage requirement. Before any person opens an account,
they are given the proper documents to read through and understand what trading with
margin is. It is the responsibility of each individual to understand the risk of loss. Forex
trading is only supposed to be done with money a person can afford to lose, not with
their retirement or savings. Imposing this new rule will strongly damage theforex
trading community and prohibit individuals who are trying to get started from ever being
able to make it asatrader. Ifa 10:1 margin is implemented, this will severely damage
the US based forex companies as they will lose their business overseas where they can
still get up to 400:1 leverage with certain brokers. Please leave the current margin
levels alone and do not destroy the US forex business.
