Comment for Proposed Rule 75 FR 3281
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From:
Organization(s):
Chinaclub
Comment No:
2561
Date:
1/22/2010
Comment Text:
i0-001
COMMENT
CL-02561
From:
Sent:
To:
Subject:
chinaclub chinaclub
Friday, January 22, 2010 9:49 AM
secretary
Regulation of Retail Forex
To whom it may concern:
I am a forex trader in China 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:
Strong and respectable regulation bodies,
Sound and sophisticated financial infrastructure,
US as a country have a tradtion for the protection of international investors,
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.
Regards,
