Comment Text:
i0-001
COMMENT
CL-05682
From:
Sent:
To:
Subject:
Branakin@aol. com
Wednesday, March 3, 2010 12:02 PM
secretary
'Regulation of Retail Forex'
RIN 3038-AC61
Lowering my leverage to 10:1 would force me to close my account. I don't have $10,000 to invest in a forex trading account.
The normal working person that wants to participate in forex trading, like myself, normally has a small amount of money to
invest. I currently trade on a $2000 Forex account, and have been trading for over a year. Most traders are responsible
enough to control their positions and many of the other traders that I have spoke into, agree that many of their accounts
would be in jeopardy if the leveraged is reduced to 10 to 1.
I urge the CFTC to reconsider their position on this matter. Thousands of retail traders would immediately be knocked out
of the forex market if this new law passes. Keep the leverage as is, and allow us to continue trading as mature, responsible
ad u Its.
Sincerely,
James Vargas
