Comment Text:
10-001
COIMMENT
CL-00015
From:
Sent:
To:
Subject:
Scott Johnstone
Thursday, January 14, 2010 1:52 PM
secretary
Regulation of Retail Forex
Hi, I would like to voice my opinion and say that I oppose this proposed new regulation of 10:1 leverage as I feel it
is up to the individual trader to decide what leverage they should use. It is absolutely ridiculous to do this. Let
traders make up their own mind and access the risk or leverage they want to use take on themselves.
We don't need government's to hold our hand and put restrictions like this in place. We are not babies, we can
make our own choices. If the government wants to keep the average joe from losing his shirt then they need to
make the brokers advertise the risks invovled in trading the forex market a lot more. That is it.
And reducing the leverage isn't going to decrease the risk involved in trading, that just means the average joe has
to fork out more money into his account in order to trade and losing say $5000 instead of $500, it is going to cost a
lot more in learning the lessons that all beginning traders must learn when trading the forex market. I don't see
how this new proposal is going to do one good thing for the average trader or anybody else. I completely oppose
Scott J.
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