Comment for Proposed Rule 75 FR 3281
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From:
Adam Mason
Organization(s):
Comment No:
1454
Date:
1/21/2010
Comment Text:
i0-001
COMMENT
CL-01454
From:
Sent:
To:
Subject:
A M
Thursday, January 21, 2010 1:14 AM
secretary
Regulation of Retail Forex
DearCFTC,
I am a retail trader and I am strongly opposed to the 10:1 leverage proposal by the CFTC. This
regulation/requirement will drive many of the "smaller guys" out of the markets entirely or to offshore
(ie unregulated) brokers resulting in increase probability of emergence of scamming brokers. Just as
what happened after FIFO rule introduced previously, which lead retail traders to moved to offshore
brokers and lot of them suffered losses because of it.
The liquidity provided by retail traders increase 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 which is bad for everyone.
Please reconsider this proposal.
Thank you
Adam Mason
