Comment Text:
i0-001
COMMENT
CL-02454
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Subject:
~
Friday, January 22, 2010 4:40 AM
secreta ry < secreta ry@ C FTC. g ov >
Regulation of Retail Forex
To whom it may concern:
I am a forex trader and I have been using US brokers for several years and very satisfied.
Compared with other countries brokers, the aspects of US counterparties appealing me, which I
think apply to other countries clients also, are:
1, Strong and respectable regulation bodies,
2, Sound and sophisticated financial infrastructure,
3, US as a country have a tradtion for the protection of international investors,
4, US based forex firms are generaly more financially solid and well-managed.
Regarding your recently regulation proposal, I fully agree to enhance industry oversight, but I
don"t like put any restrictions on leverage. Leverage is a very important tool for us seeking
financial freedom as your Amercian, and lowering leverage dramatically like this will not only hurt
our clients feeling but also drive us to other countries (ie. unregulated) brokers despite above
advantage. This is not a win-win situation, it"s a lose-lose situation that you probably wouldn"t
expected.
Please reconsider your proposal.
Best Regards
Hui Zhao
