Font Size: AAA // Print // Bookmark

Comment for Proposed Rule 75 FR 3281

  • From: Mary Redmond
    Organization(s):

    Comment No: 90
    Date: 1/15/2010

    Comment Text:

    i0-001
    COMMENT
    CL-00090
    From:
    Sent:
    To:
    Subject:
    mary.redmond@comcast.net
    Friday, January 15, 2010 2:01 PM
    secretary
    regulation of retail forex trading
    Dear Sir or Madam
    Please do not increase margin levels to the 10:1 level which is being proposed. As an active
    forex trader, I know this will end up hurting US brokers and businesses and transferring the
    business to countries which have looser margin requirements. Retail forex traders are a
    miniscule drop in the bucket in the forex market which trades $3.7 trillion daily. For some of us,
    it is the only way to make a living and increasing margins would not prevent any financial
    crisis. They need to regulate the large investment banks which caused the financial crisis by
    selling subprime mortgage based derivatives and buying insurance policies on these
    derivatives (essentially selling a product and shorting it simultaneously). VVhy punish the little
    people for the big players' crimes?