Comment Text:
i0-001
COIMMENT
CL-0
62 60
From:
Sent:
To:
Subject:
Derk Wehler
Friday, March 5, 2010 3:05 PM
secretary
New proposed forex ruling: opinion
Good day:
I'm writing to inform you that I am against the proposed change of forex trading leverage to 10:1.
I
believe that these proposed regulations will so significantly change the leverage factor as to eliminate
the forex trading opportunity for many individual traders. A few years ago, brokerages used to have
400:1 or 200:1 and it has already been reduced to 100:1.
If this passes, 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. The NFA's
interference has not benefited the consumer / individual trader in the least. Their ruling against hedging
has already driven many offshore. The USA is already so absurdly over regulated and taxed that it
drives all business from it's shores, and we become a weak nation of consumers with little national
product. All the changing regulation now is having the same effect of forex trading.
Therefore I am against the proposed change, as well as virtually every change that has been pushed
through by the NFA.
Best,
Derk Wehler
US Citizen and Forex Trader
