Comment for Proposed Rule 75 FR 3281
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From:
Vincent Then
Organization(s):
Comment No:
1796
Date:
1/21/2010
Comment Text:
i0-001
COMMENT
CL-01796
From:
Sent:
To:
Subject:
Vincent Then
Thursday, January 21, 2010 12:13 PM
secretary < secretary@ C FTC. g ov >
Regulation of Retail Forex
Identification number
RIN 3038-AC61
Dear sir,
I understand the need to regulate the Retail Forextrade. However, Ido not agree
that reducing the margin to 1:10 will be a constructive move towards achieving
CFTC's objectives. It will only prevent us, the retail traders, from participating in
the forex trade and will drive us to conduct our trades with brokers outside the US.
This of course help to reduce US foreign income. We need a minimum margin of
1:100.
I believe it is better to have brokers maintain clients' accounts separate from their
operating accounts and offer some protection on clients' monies.
Sincerely,
Vincent Then,
Singapore.
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