Comment Text:
i0-001
COMMENT
CL-00572
From:
Sent:
To:
Subject:
Ron Wear
Tuesday, January 19, 2010 1 : 11 PM
secretary
Regarding: Regulation of Retail Forex
Attn:
David Stawick, Secretary,
Commodity Futures Trading Commission
Dear Sirs:
I just wanted to weigh in on this proposed 10 to 1 leverage limit on
Forex traders.
If this proposed rule is imposed, the billion-dollar forex industry in
the US will suffer greatly.
If we are limited to such restrictive levels, then most forex traders in
the US would be forced to move to a foreign-based forex broker.
This would devastate the US forex industry.
High leverage is one of the key characteristics of forex trading. If
this proposal is implemented, it will practically kill the American
forex industry, as traders will move their business elsewhere.
Please kill this proposal dead in it's tracks. It will do nothing to
help the economy overall and would represent just one more unnecessary
restriction on trade.
Sincerely,
Ron Wear
