Comment for Proposed Rule 75 FR 3281
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From:
Richard Pollak
Organization(s):
Comment No:
2249
Date:
1/21/2010
Comment Text:
i0-001
COMMENT
CL-02249
From:
Sent:
To:
Subject:
Rich Pollak
Thursday, January 21, 2010 8:45 PM
secreta ry < secreta ry@ C FTC. g ov >
RIN3038-AC61 (DO NOT REDUCE THE LEVERAGE)
To whom this may concern:
I urge the commission not to reduce the leverage from 100:1 to 10:1. By doing this, most people
trading in the retail market will be shut out of the market like myself in that individuals do not have
$10,000.00 USD to keep in an account in order to enter in on the buy or sell side of a currency pair
for one lot. By having a higher leverage, many people can participate in the retailforex market
with a few hundred dollars in their account. There is no good reason to reduce the leverage. If the
leverage is reduced, it will just mean that you have to have a lot of money in order to make money
in this type of market, which is unfair. Everyone should be given the opportunity to enter into this
type of market if they so choose.
If we shut out investors, companies like FOREX.com are generating less revenues. This will cause
jobs to be lost. Ido not think it is fitting forjobsto be lost in the current economic environment
that has an unemployment rate above 10%.
The current leverage is fair and should not be changed.
Sincerely,
Richard Pollak
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