Comment Text:
i0-001
COMMENT
CL-05625
From:
Sent:
To:
Subject:
Bamidele Adewole
Sunday, February 28, 2010 11:09 AM
secretary
Regulation of Retail Forex
To whom this may concern,
My name is Bamidele Adewole and I'm a client of AIpari, based in Lagos, Nigeria. I am writing to clearly express my
disapproval of the new proposal by the Commodity Futures Trading Commission (CFTC) to regulate Off-Exchange
Retail Foreign Exchange Transactions and Intermediaries, by significantly changing the leverage permitted on certain
accounts.
I believe that this proposal discourages beginners (like me) from developing and strengthening our trading style. It
effectively prevents investors from evaluating our own appetite for risk and making personal investing decisions.
I also believe that, with proper education, it is not necessary for the U.S. Forex industry to be subject to these
regulations. Only recently have the doors opened for retail investors to trade in this market; these doors are
effectively closed through the proposed rules, once again making the FX market accessible only to financial
institutions.
I therefore hope that the wishes of retail investors like us will be given serious consideration.
Best Regards,
Bamidele
