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Comment for Proposed Rule 75 FR 3281

  • From: Trey Tate
    Organization(s):

    Comment No: 5590
    Date: 2/25/2010

    Comment Text:

    i0-001
    COMMENT
    CL-05590
    From:
    Sent:
    To:
    Subject:
    Trey Tate
    Thursday, February 25, 2010 4:09 PM
    secretary
    Regulation of Retail Forex
    I'm an investor in foreign currency through a U.S. dealer. I am very concerned about the proposed rules from the
    CFTC. The CFTC's recent rule proposal, which would limit customer trading leverage to 10 to 1, would be a crippling
    blow to the U.S. forex industry.This unsustainable rule would drive U.S. forex dealers, which brings tens of millions
    of dollars into the U.S. banking industry each day, offshore into the hands of foreign competitors. It would
    encourage fraud both at home and abroad as customers seeking to trade retail forex would have no other legitimate
    domestic alternative. As an investor, I would be forced to take my business outside of the United States.
    Trey Tate
    Gainesville FL, 32607
    treyisdaman3 @myself.corn