Comment for Proposed Rule 75 FR 3281
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From:
Michael Regal
Organization(s):
Comment No:
1202
Date:
1/20/2010
Comment Text:
i0-001
COMMENT
CL-01202
From:
Sent:
To:
Subject:
Mike Regal (mregal)
Wednesday, January 20, 2010 9:39 PM
secretary
Mike Regal (mregal)
Regulation of Retail Forex
RIN 3038-AC61
I am against the proposal to subject US traders to a 10-to-1 leverage limitation. I've already had to swallow a
200-to-1 downto 100-to-1 leverage move based on NFA compliance. A move from 100-to-1 downto 10-to-I
would seal the deal. I would close my brokerage account here in the US and do business with overseas brokers.
This is a bad for business proposal.
As a trader, I'm responsible for assessing the amount of risk I'm willing to take. While you may think you're
protecting irresponsible traders, there are many more responsible ones who understand the risks involved and
can trade "within their means".
I vote NO to this proposal.
Regards
...
Michael Regal
