Comment Text:
i0-001
COMMENT
CL-05564
From:
Sent:
To:
Subject:
g perman
Wednesday, February 24, 2010 8:08 PM
secretary
Regulation of Retail Forex
Dear Mr. Stawick,
Here's my ideal vision of forex brokerage trading conditions:
1:100 leverage- this ratio has worked very well for many years to allow
small traders like me access to trading this market without prohibitive
amounts of capital. The only ratio limitation that seems to make sense
to me is where it is already commonly expressed, i.e. at the $100K
range- Every broker I have ever traded through has always had margin
call safeguards in place for protection.
Hedging (offsetting) allowed- this is an important feature for me to
protect myself in adverse market conditions, margin also correctly
reflects the effect of an opposing trade with this feature.
I find these two provisions are necessary for forex trading to be a
worthwhile endeavor to persue. I don't know of any broker or customer
who feels they should be denied. Any prospective customer is and should
be presented with clear warning about trading conditions. Unless the
goal is to make this country uncompetitive with the rest of the world, I
see no reason to end the above capabilities- especially considering that
I am trading MY money as I see best- the decision should simply be mine
in a free society.
Thank you for your time and consideration.
Respectfully,
Gregory Perman
