Comment Text:
i0-001
COIMMENT
CL-06164
From:
Sent:
To:
Subject:
Ron McKee
Friday, March 5, 2010 11:20 AM
secretary
'Regulation of Retail Forex - public comment submission
Issue identification number: RIN 3038-AC61
Deliver to the Attention of:
David Stawick, Secretary
Commodity Futures Trading Commission
1155 21st Street, N.W.,
Washington, DC 20581
I am personally writing to express my concern about the proposed changes in regulations to the
forex retail trading system available to investors around the world.
I believe that these proposed regulations will so significantly change the leverage factor as to
eliminate the forex trading opportunity for many individual traders. The ability for a small
investor to personally makes trades and investment choices has given the middle class Americans
freedom of control over their investment options under the current regulations.
In addition, those wishing to trade forex with any meaningful leverage would have to seek
alternatives outside of the United States if those avenues would even be available to U.S. customers
because new regulations would not allow a small investor to leverage their trade to a level where
they could experience meaningful profits from their investment. Right now, minimum investments
are low enough for me to be eligible to use the forex trading system. I don't have $10,000 to place
in a single investment transaction as the new regulations would require according to my
understanding.
I agree America is in a position where we are taking a close look at the markets, and making them
more responsible. In some areas this essential including new banking regulations. However, this
regulatory change is probably more a reactive response to the current winds than an actual
strongly required need. Where is the data to support the proposed changes? Please, I request you
consider my request to leave the regulations as they are currently set.
Respectfully submitted,
Ronald K. McKee
2065 Brandon Dr. NW
Grand Rapids, MI 49504-4770
[email protected]
home phone 616-735-0566
Current requirements for minimum investment and percentage of
