Comment for Proposed Rule 75 FR 3281
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From:
Ben Woolston
Organization(s):
Education Department
Comment No:
2489
Date:
1/22/2010
Comment Text:
i0-001
COMMENT
CL-02489
From:
Sent:
To:
Subject:
WOOLSTON, BEN
Friday, January 22, 2010 7:49 AM
secretary
Regulation of Retail Forex
RIN 3038-AC61
Hi,
I would like to express my concerns over the proposed changes to leverage in the Forex markets. As a person who is trying to break into the Forex markets, this change is
very distressing to me as a US Citizen. I am working to gather $10,000 to start a proper Forex account so I may trade in the markets. Under the conditions of 10:1 trading, this
would severely limit my abilities to make any significant trades in the markets. I can understand the change from 200:1 to 100:1, but 10:1 seems a bit extreme considering the
capital required to start any sort of investing. Honestly, it seems more like a wall to the common man entering the markets versus a protection from harm. Please, do not change
the regulations concerning leverage, 100:1 works fine now and will continue to work. Thank you for your time,
Ben Woolston
Audio / Visual Technician
Education Department
410-912-2818 (phone)
410-548-0745 (pager)
[email protected]
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