Comment for Proposed Rule 75 FR 3281
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From:
Bryan Ma
Organization(s):
Comment No:
2419
Date:
1/22/2010
Comment Text:
i0-001
COMMENT
CL-02419
From:
Sent:
To:
Subject:
brainnova
Friday, January 22, 2010 2:12 AM
secretary
Regulation of Retail Forex
RIN 3038-AC61
To,
David Stawick, Secretary Commodity
Futures Trading Commision 1155 21 st Street, N.W.,
Washington, DC 20581
Dear Sir,
As a private investor and trader in Forex, along with many other traders, we firmly believe that we
should be given the freedom and right to choose the amount of leverage that is appropriate for our own
individual desired risk.
The proposed CFTC regulations on the maximum leverage of 10:1 would take away this basic right
and principle of 'choice' of each trader. Moreover, first and foremost, the proposed regulation will kill
off all the brokerage businesses within the United States, in fact, the non-hedging and FIFO rules have
already done enough of that damage; regulating choice of leverage will be the last nail for the many
coffins of the forex brokerage industry.
We the people are of the view that such regulation is unnecessary. The more important task is to regulate
the banks to prevent them from stealing from the people.
Thank you for your consideration.
Best regards,
Bryan Ma
St. Louis, MO
