Comment Text:
i0-001
COMMENT
CL-00090
From:
Sent:
To:
Subject:
[email protected]
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?
