Comment for Proposed Rule 75 FR 3281
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From:
William Archer
Organization(s):
Arrow Technical Business Development
Comment No:
1727
Date:
1/21/2010
Comment Text:
i0-001
COMMENT
CL-01727
From:
Sent:
To:
Subject:
William Archer
Thursday, January 21, 2010 11:05 AM
secretary
Regulation of retail forex
Good morning,
I'm writing to voice my concern about proposed regulation RIN 3038-AC61.
I am a successful retail forex trader and have multiple accounts with brokers located in the USA as well as the UK.
US regulation that reduces my leverage option to 10:1 will make it impossible for me to trade with US brokers. My only
option - shared by a number of other traders I know - will be to close my US accounts and continue to trade with other
brokers outside the USA. While I am willing to do this, I am concerned about the overall impact that this will have on the
economy.
I fail to understand the benefits of this regulation to traders other than large financial institutions, many of whom I suspect
will also utilize offshore options should this proposed regulation become law.
Sincerely,
William Archer
Managing Director
Arrow Technical Business Development
Website: http ://www. arrowtbd, corn
