Comment Text:
i0-001
COMMENT
CL-05830
From:
Sent:
To:
Subject:
George Karliychuk
Wednesday, March 3, 2010 10:01 PM
secretary
Regulation of Retail Forex
Dear Sir/Madam,
Limiting leverage to 10:1 is simply ludicrous. It looks like this proposition is coming from a person who
never traded. I'll explain, you would need to have 10005 to keep one mini lot open (10k). It means that I
would need to have around 13005 to trade 1 mini lot to allow some 300 pips per one lot in case I make a
mistake trading and suffer a margin call when my balance falls to 10005, as it would be ridiculous
trading with 1 mini lot having 1000 dollars lying there getting moldy in the account. I know this could
be profitable for brokers to have 10-fold influx of funding into their accounts which will give them all
this excess capital to work with. This move is against retail traders, what will happen we will move our
money away from the USA completely and will be trading in the countries of Europe, because having
1300 dollars in the account to trade one mini lot is a madness, because you will then be making around
100 pips a month, say, which is 100 USD. What kind of trading is that?
