Comment for Proposed Rule 75 FR 3281
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From:
Todd Grant
Organization(s):
Comment No:
1548
Date:
1/21/2010
Comment Text:
i0-001
COMMENT
CL-01548
From:
Sent:
To:
Subject:
Todd Grant
Thursday, January 21, 2010 4:58 AM
secretary
Regulation of Retail Forex
*RIN 3038-AC61
I appreciate the efforts of the CFTC to insure the the necessary
regulatory environment is in place. But I do take serious issue with
the proposed leverage of 10:1.
One advantage of Retail Forex trading is I don't have to park a large
sum of money in a brokerage account to cover margin. Refco's collapse a
few years back is an excellent example of why large leverage is a good
thing, A trader would have lost a small sum of money, approximately
$7500.00 vs. $75,000.00 if your proposed leverage requirements go into
effect.
I think perhaps 25:1 would me more reasonable vs. 10:1.
Thank you for taking time to consider my comments,
Todd Grant
