Comment Text:
i0-001
COIMMENT
CL-06165
From:
Sent:
To:
Subject:
brett morris
Friday, March 5, 2010 11:19 AM
secretary
RIN 3038-AC61
To Whom it may concern at the CFTC.
I am a retail forex trader who is very concerned regarding the proposed leverage change in the RIN
3038-AC61.
I feel that this change is a discrimination against the small retail trader who will not be able to meet the
margin requirements if this legislation is passed. I fit this category as I am a very small trader who
enjoys trading to supplement my retirement income. I will not have the required margin or funds to
continue trading with US based brokers.
I have no idea why the CFTC is concerned about the leverage by in my experience what is written and
what is the truth is different. I am sure that someone is to benefit from this change and it is not the retail
traders.
If this proposal passes I will be forced as many to seek brokers outside the USA thus moving our
American money out of country. This change is exactly what is not needed in this time of our
economy. We need to keep jobs here and not support other countries with our business. We need to
bring the business here.
If there are any proposals to be added to the already long list it would be in the best interest of all to
propose how to bring forex business to the USA not try and force out the already large retail crowd.
I believe the already strict 100:1 leverage rule is very strict but is manageable for most. So I would ask
that this amendment not be passed.
Sincerely,
Brett Morris
