Comment Text:
i0-001
COIMMENT
CL-0 62 90
From:
Sent:
To:
Subject:
C.W. & JoAnn
Friday, March 5, 2010 5:36 PM
secretary
'Regulation of Retail Forex'
ID #: RIN 3038-AC61
I believe that these proposed regulations will so significantly change the leverage factor that it will
eliminate the forex trading opportunity of many individual traders like myself who do not have the
income to go with a higher leverage. The 10-to-1 limitation would eliminate most middle class investors
in these hard times where this is our only source of extra income. We will have to go outside the United
States if any of these avenues are available to U.S. customers.
I agree that we need stronger anti-fraud authority with respect to off-exchange foreign currency
transactions but please don't change the leverage to 10-1 when so many Americans are hurting in these
hard financial times. We are setting up a mini account of $500 and this would not be available with the
10-to-1 limitation. There is no way we can afford $10,000 on our retirement.
Maximum Leverage under
Current Regulations
USD/JPY
1 lot (100,000)
100:1 leverage (one percent)
Margin requirement: $1,000
Maximum Leverage under
Proposed Changes
USD/JPY
1 lot (100,000)
10:1 leverage (10 percent)
Margin requirement: $10,000
Thank you for your consideration in this matter.
C. W. Allen
