Comment for Proposed Rule 75 FR 3281
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From:
William Chee
Organization(s):
Comment No:
1515
Date:
1/21/2010
Comment Text:
i0-001
COMMENT
CL-01515
From:
Sent:
To:
Subject:
simonchee999@gmaihcom on behalf of
William Chee
Thursday, January 21, 2010 3:25 AM
secretary
'Regulation of Retail Forex'
Identification number RIN 3038-AC61
Dear Mr. David Stawick,
Taking into consideration of the purpose of reducing the leverage in retail forex customer account to a
limitation of 10:1, you are killing all of us as individual player of the forex market.
I believe strongly that with proper training and knowledge in forex, it is safe and profitable to trade in
the fx market.
Most of the losers are those who are no different from gamblers in casinos which have worst risk than
forex trading. You may as well ban people from gambling in the casinos.
With that in mind, you are actually compelling us to transfer all our accounts to most European
countries who do not have such requirement. But I would feel very sad as I prefer to maintain acount in
the U.S.
Finally, I would like to propose that the leverage should be reduced to 50:1 which I even consider as a
very conservative figure comparing to most countries in Europe and Asia who gave leverage up to 200:1
currently.
Sincerely and warmest regards,
William Chee
