Comment Text:
i0-001
COIMMENT
CL-02667
From:
Sent:
To:
Subject:
MyMisc
Friday, January 22, 2010 11:48 AM
secretary
Regulation of Retail Forex
Reference: RIN
3038-AC61
As many of you are aware, the U.S. Commodity Futures Trading Commission (CFTC) announced on January 13,
2010 that it is seeking public comment on proposed regulations concerning retail Forex trading. As part of the
proposed regulations, it is stated: "leverage in retail forex customer accounts would be subject to a 10-to-1
limitation," which means 10:1 leverage would be the maximum amount allowed for all Forex traders in the U.S.
Decisions like this receive a resounding NO!! This is not necessary so please quit trying to ram over regulation
down the throat of the American trading community. When you propose these really dumb regulations you sound
just like obama and his merry band of mindless followers who want to control the world. The American people are
very tired of being over regulated, all you will succeed in doing is driving our trading accounts outside the US and
bankrupting brokers established in the US.
You people at the CFTC and the NFA are making irrational decisions of late and are thereby making it impossible
for traders to maintain trading accounts in the United States. If you continue to pursue your current path of making
it difficult for traders I and many others will simply move our accounts out of the United States. Because of recent
NFA decisions and over regulation I, for one, am already exploring non-US Forex brokers.
May Our Gracious Savior and Lord Jesus Christ Bless and keep you.
"God grant me the serenity:
To accept the things I cannot change;
Courage to change the things I can;
And Wisdom to know the difference."
