Comment for Proposed Rule 75 FR 3281
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From:
Dave Friedholm
Organization(s):
Comment No:
2512
Date:
1/22/2010
Comment Text:
i0-001
COMMENT
CL-02512
From:
Sent:
To:
Subject:
Dave Friedholm
Friday, January 22, 2010 8:37 AM
secretary
Regulation of Retail Forex
Please Leave Leverage at 100:1
I'm an active Forex Trader and strongly object to the proposals to reduce Forex Leverage from 100:1 to
10:1 for all NFA and CTC regulated firms.
This portion of the regulation would effectively put US traders at a SEVERE DISADVANTAGE
against global traders, and force many of our accounts offshore into unregulated areas.
This business is NOT like commodities. There are
no margin calls to drive a trader into huge debt. If the
trade goes
insanely wrong, the trader's position is simply closed out.
Thank you,
Dave Friedholm
[email protected]
sent from my iPhone
