Comment for Proposed Rule 75 FR 3281
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From:
Francisco J Lerma
Organization(s):
Comment No:
1948
Date:
1/21/2010
Comment Text:
i0-001
COMMENT
CL-01948
From:
Sent:
To:
Subject:
Francisco Lerma
Thursday, January 21, 2010 3:54 PM
secretary
"Regulation of Retail Forex"
identification number RIN 3038-AC61
Dear CFTC People,
I disagree with the new proposal, i.e. 10 : 1
points to discuss...
Leverage .... below Im going to point out some
important
1. According to the Rule CFTC 12.3, individual retail traders can trade legally on the fx markets.
2. This new proposal will cause traders to do business in other countries, i.e. unemployment rate in the
financial industry will soar.
3. I agree with other new regulations, CFTC must monitor every fx broker monthly in all transactions,
NOT to the individual fx investor / trader.
4. There must be a rule for high spreads on brokers.They scam others by using the trader's cost on
every currency pair on spreads. This is the main reason why the forex market is still unregulated.
Thank you for your support
Francisco J. Lerma
