Comment for Proposed Rule 75 FR 3281
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From:
Alex Chang
Organization(s):
Comment No:
2718
Date:
1/22/2010
Comment Text:
i0-001
COMMENT
CL-02718
From:
Sent:
To:
Subject:
Alex Chang
Friday, January 22, 2010 1:25 PM
secretary
Regulation of Retail Forex RIN 3038-AC61
Hello Relevant CFTC Official,
As an active forex trader, I would like to voice my opinion against the proposed leverage reduction from
100:1 to 10:1.
First off, such regulation is unneccessary since forex brokers already impose automatic sell-off protocols
once margin requirements have been depleted for their client's accounts.
As such, manditory imposition of regulations limiting forex leverage would be redundant and an unwise
use of public resources.
Furthermore, regulation aimed at reducing leverage would place all those subj ected at a competitive
disadvantage. Such a move in our current atmosphere of intense foreign competition is not only
unnecessary, but detrimental to the sustainence of the retail forex industry.
Please consider the information presented herein. I sincerely hope readig this email has been a worthy
investment of your time. Feel free to contact me if I may be of any assistance in this matter.
Thank you.
-Alex Chang (An engaged and concerned memeber of the forex-trading community)
(626) 922-9935
