Comment for Proposed Rule 75 FR 3281
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From:
Riivo Polluste
Organization(s):
Comment No:
1979
Date:
1/21/2010
Comment Text:
i0-001
COMMENT
CL-01979
From:
Sent:
To:
Subject:
riivo
Thursday, January 21, 2010 4:35 PM
secretary
Regulation of Retail Forex
Hi.
Here are my thoughts why this new rule is unvelcome:
Right now my trading capital is about 10 000 EUR.
I am pulling off trades with size about 0.7 standard lot (70 000).
I do not hold my entire trading capital on my brokers account because in the US, there are no law to protect
me in case of my broker goes broke...instead I hold about 25% of my trading capital on my brokers acount, the
rest of it is sitting safely on my bank account.
With the new rules...I mean 1:10 leverage I would have no choice but to trust my entire capital to a FOREX
brokers hands just to make trades I would normally do!
I understand your concern and willingness to protect traders, but before you apply a tighter leverage rule you
should seriously consider making some rules to protect traders in case if broker goes bankrupcy.
Thanks in advance
Riivo PNluste
