Comment for Proposed Rule 75 FR 3281
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From:
John O'Brien
Organization(s):
Comment No:
2257
Date:
1/21/2010
Comment Text:
i0-001
COMMENT
CL-02257
From:
Sent:
To:
Subject:
John O'Brien
Thursday, January 21, 2010 8:52 PM
secretary
Retail Forex Transactions
Dear Sir/Madam
As a UK citizen I participate and enjoy the retail Forex trading service provided by IBFX.
This service is an export product for IBFX and USA and a product which I choose to buy and want to buy because
the current leverage terms of trading are 100:1.
If the US regulatory authority (CFTC) intends to tighten up the leverage terms currently on offer from 100:1 to
10:1 for foreign traders, as well as US traders, then I will be looking to take my business elsewhere.
The authority should be aware that registered providers of Forex trading services are very open about the
investment risk of Forex trading and that investors very quickly become aware of the loss pitfalls as well as the
profit benefits. Moreover, any perceived harm to potential investors will in the end yield the same result regardless
of the leverage ratio.
Please consider this to be my view when drafting your new regulations.
Yours faithfully
John O'Brien
31 Myrtle Grove
Sketty
Swansea
UK
SA2 0SJ
