Comment Text:
i0-001
COIMMENT
CL-05616
From:
Sent:
To:
Subject:
Ian Mathews
Saturday, February 27, 2010 2:20 PM
secretary
Regulation of Retail Forex
Re: CFTC Proposed Regulations Regarding Retail FOREX Transactions
Dear Sir of Madam,
As a retail FOREX Trader, I respectfully submit this, my view and opinion, to be included with the overwhelmingly negative views and
opinions that have been submitted to you regarding your proposed changes to leverage in retail forex accounts.
After long and careful analysis and due diligence on my part, I chose retail forex as my primary investment vehicle. In part, my
investment decision was arrived at through my analysis of the terms and conditions of retail forex trading, not the least of which is the
attractiveness of the high leverage available. To change this leverage, as you propose, would result in a serious negative impact upon
my forex trading options. The options available to me, if your proposal to limit retail forex accounts to a 10-to-one leverage limitation is
passed into law, would be to immediately relocate my forex trading accounts outside of the jurisdiction of the CFTC.
As a retail forex trader, I acknowledge and accept the risks involved in any investment particularly forex. I do agree with your interest in
regulations designed to ensure the financial integrity of firms engaging in retail forex. I support FCMs and RFEDs being regulated, but
the individual investor should be left to make his or her investment choices.
Your proposed changes will only serve to encourage the individual forex trader to seek the most competitive environment. That will
eliminate the United States as a provider of retail forex, with the resultant loss of revenue and employment associated with such short
sighted and oppressive regulation. Is this the Great American Way?
Yours truly,
lan B Matthews
812 - 94 Ave. S.W.
Calgary, AB
T2V 0X9
