Comment for Proposed Rule 75 FR 3281
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From:
Sotirios Bogris
Organization(s):
Comment No:
2061
Date:
1/21/2010
Comment Text:
i0-001
COMMENT
CL-02061
From:
Sent:
To:
Subject:
Sotirios Bogris
Thursday, January 21, 2010 6:11 PM
secretary
Regulation of Retail Forex
Dear Mr. Stawick,
I
stron~ll¥ object
to the proposal to limit retail forex trading to 10:1 leverage.
Said regulation will have a negative effect on my forex trading business as well as
to many other forex traders. The proposed regulation will essentially put me out of
business. I have to have at least 100:1 leverage to make it worth my while,
considering all the time I have to invest in learning the business and running it.
Furthermore, this regulation will cause plenty of damage to retail forex brokers as
many of their clients (traders) will look to open accounts in non-US jurisdictions
that do not have this regulation. Similar situation occurred when the last two
major rules were introduced: the no-hedge rule and the FIFO one.
Sincerely,
Sotirios Bogris
