Comment Text:
i0-001
COMMENT
CL-00877
From:
Sent:
To:
Subject:
Dave Payne
Tuesday, January 19, 2010 11:23 PM
secreta ry < secretary@ C FTC. g ov >
"Regulation of Retail Forex"
Dear Mr. Secretary:
I strongly object to the proposed further regulation of the U.S. Foreign Exchange trading by
limiting the maximum leverage to 10:1. The disclaimers and disclosures required are enough to
warn the trading public about the risks of trading this market.
This further constriction of the free market system is unwarranted. The retail trader depends on
the leverage ata higher level to be able to execute trades and makea profit. Iviewthis proposed
action as an attempt to force the little guy out of the market, and most likely make the trader try
to make more trades, which will ultimately only benefit the broker and market makers by giving
them more transaction costs.
I suggest the continued warnings and disclosures, and having the FTA help the new traders with
educational seminars to further educate the new traders in trading, and money
management, rather than forcing them from the market.
Do~v~d Payee
Retail Trader
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