Comment for Proposed Rule 75 FR 3281
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From:
Michael Jennings
Organization(s):
Comment No:
2291
Date:
1/21/2010
Comment Text:
i0-001
COMMENT
CL-02291
From:
Sent:
To:
Subject:
msj [email protected]
Thursday, January 21, 2010 9:34 PM
secretary
Regulation of Retail Forex
Greetings,
I oppose the proposed change in leverage for retail spot forex trading.
As a leader of a group of individual forex traders, I know that traders do not see a
need to decrease the leverage of forex trading accounts. Traders understand the
risks inherent in leveraged trading. Those few individuals who get started in forex
trading without comprehending the implications of leveraged trading losses as well
as leveraged trading gains are quick to get the point after only a few positions.
If the proposed change for leverage in retail forex customer accounts is subject to a
10-to-1 limitation, the retail spot forex market traders will withdraw from trading,
adversely affecting liquidity of the market for all.
Michael Jennings, MD
Salt Lake City
