Comment for Proposed Rule 75 FR 3281
Note:
If you experience an issue clicking on the "View Comments", the "Submit Comments", or any other buttons, please clear the cache in your browser and refresh the page. In Chrome or Edge, you may refresh the cache by holding down the ctrl key and clicking the F5 button.
-
-
From:
Daniel Malchow
Organization(s):
Comment No:
2802
Date:
1/22/2010
Comment Text:
i0-001
COMMENT
CL-02802
From:
Sent:
To:
Subject:
Dr. Daniel Malchow
Friday, January 22, 2010 3:36 PM
secretary ; [email protected]
Regulation of Retail Forex
Dear CFTC,
RE: RIN 3038-AC61
I want to make it very clear that I believe you are not helping traders
with your proposal to change the leverage to 10: 1. The rules are very
clear and the risk is very well known for all traders...I can understand
your proposal to watch the companies so that we (as traders) are treated
fairly...
...however, back to the 10-1 rule...it would greatly diminish my ability to
make a living. I am fully aware of my risks but by limiting retail traders
to that low of a leverage you are hurting the little guy and only allowing
the big dogs to play. From an American standpoint that is exactly what
has made America great, allowing the little guy to be successful...and
you would kill that American spirit...
I also believe you'll chase traders from American Brokers to brokers that
are outside of the USA and thus hurt American businesses as well...
Dr. Daniel Malchow
