Comment for Proposed Rule 75 FR 3281
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From:
Moe Surani
Organization(s):
Comment No:
1117
Date:
1/20/2010
Comment Text:
i0-001
COMMENT
CL-01117
From:
Sent:
To:
Subject:
Moe Surani
Wednesday, January 20, 2010 8:32 PM
secreta ry < secreta ry@ C FTC. g ov >
Regulation of Retail Forex
To whom it may concern,
Re: Regulation of Retail Forex
I am a retail trader and have worked extremely hard for many many years in this industry
and have finally managed to keep my head above the water. I am against the 10:1 leverage
proposal by the CFTC. Reducing the leverage to 100:1 grossly affected my financial situation and
reducing it to 10:1 will incapacitate me and drive me out of business. My only recourse will be to
look for an offshore unregulated broker which leaves me uprotected and worse-off. This decision
will not affect the "big boys" and banks as they have the financial means to trade with a lower
leverage. The liquidity provided by retail traders increases the efficiency of the markets. Removing
them, or unfairly pricing them out of the markets will result in increased price volatility overall and
decrease the efficiency of the markets. Is it not the responsibility of the CFTC to look after interests
of the retail trader?
Kindly reconsider this proposal.
Thank you
Moe S
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