Comment for Proposed Rule 75 FR 3281
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From:
Jim Bo
Organization(s):
Comment No:
1970
Date:
1/21/2010
Comment Text:
i0-001
COMMENT
CL-01970
From:
Sent:
To:
Subject:
Jim Bo
Thursday, January 21, 2010 4:17 PM
secreta ry < secretary@ C FTC. g ov >
Regulation of Retail Forex
i have read you proposed changes due to the level of claimed fraud in the industry, and i do agree
that there needs to be more transparency in this market. However, as a retail forex traider, Kl=l=p
YOUR HANDS OFF MY LEVERAGE!!!
While i do agree that there are many who over leverage themselves, that CHOICE should be up to
the trader, not a company or bureaucrat. If you wish to implement variable account leverage from
10-1 up to 50-1, or even to 100-1, which can be selected by
the account holder,
i believe you
would find support in the forex community. But if the proposed mandatory maximum of 10-1 is
implemented, you will see the forex community move their money off shore to non-us regulated
brokers as we did when the anti-hedging rules were put into effect (another stupid idea aimed
against the interests of the trader).
Thank you for your time,
Jim
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