Comment for Proposed Rule 75 FR 3281
Note:
If you experience an issue clicking on the "View Comments", the "Submit Comments", or any other buttons, please clear the cache in your browser and refresh the page. In Chrome or Edge, you may refresh the cache by holding down the ctrl key and clicking the F5 button.
-
-
From:
Rich LeDude
Organization(s):
Comment No:
1432
Date:
1/21/2010
Comment Text:
i0-001
COMMENT
CL-01432
From:
Sent:
To:
Subject:
Rich Le Dude
Thursday, January 21, 2010 12:52 AM
secretary
Regulation of Retail Forex
RIN3038-AC61
To whom it may concern,
In reference to R1N 3038-AC61, I COMPLETELY DISAGREE with a 10:1 leverage limitation. This
would mean that a smalltime trader like myself would only be able to profit cents from any successful
trades I make. Not only this, but in order to be able to make a decent profit, to be able to trade 1 full lot,
the margin requirement would be $10,000. So, now you limit profitable trading to only the rich and
wealthy? So the margin requirement for. 1 lots would be $1,000? So I would be getting 10 cents per pip?
I don't see how this is fair to many traders, myself included. Who proposed this? My guess is either a
very wealthy person who wants to keep the average j oe out of trading, or someone who doesn't know
how to trade and thinks the rest of the world should share his/her limits.
Regards,
Rich (Just another average j oe)
