Comment Text:
10-002
COMMENT
CL-07829
From:
Sent:
To:
Subject:
Pontius, Kenneth Allen
Wednesday,
March 10, 2010 3:41 PM
secretary
Proposed
Regulations Regarding Retail FOREX Transactions, Release 5772-10
Dear Chairman Gensler,
Thank you for inviting comments on the proposed regulations regarding retail forex transactions.
I am an individual investor and I strongly support much of what your Commission is proposing. When I was choosing a
brokerage firm I was searching for many of the qualities and requirements that you set forth in your proposed regulations.
However, as an individual investor I am strongly opposed to your proposal to limit leverage in retail forex customer accounts
to 10-to- 1.
I was able to start with a modest $400.00 account that allowed trades as small as $10.00. With the 100-to-1 leverage that I
employ, I am able to grow my account on a consistent basis while minimizing the risk of losing a substantial portion of my
account through misjudgment. A limiting 10-to-1 ratio would be a great hindrance to my continued and steady account
growth.
Please consider small individual investors like me. We have taken the time and made the effort to learn to trade in a non-live
practice account, and then moved to a minimally funded account where we can use the 100-to-1 leverage to expand our re-
invested capital gains.
Thank you very much for taking the time to read and consider my email.
Best regards,
Kenneth A. Pontius
[email protected]
785.760.6954
