Comment Text:
i0-001
COMMENT
CL-02999
From:
Sent:
To:
Subject:
Peter Barlow < [email protected] >
Friday, January 22, 2010 8:01 PM
secreta ry < secreta ry@ C FTC. g ov >
Regulation of Retail Forex
David Stawick
Secretary
Commodity Futures Trading Commission
1155 21st Street, N.W., Washington, DC 20581
Dear Secretary Stawick,
I would like to officially levy my protest against the potential new retail forex regulation regarding
a 10:1 leverage policy for US-based forex brokers. I firmly believe that this new regulation, if
employed, will force tens of thousands of US traders offshore to potentially illegitimate and/or
inappropriate brokerages that are under-regulated and under-funded and thus creating
potentially more damaging situations for these traders than the rule would protect.
As a trader, I certainly understand the need for your agency to help provide a decent level of
safety and protection in a business that is often misunderstood by new traders and sometimes
fraught with brokerages that are little more than scare artists. However, only allowing a 10:1
leverage capability will not allow smaller, retail traders like me the chance to grow an account
balance with smart, well-placed trading strategies. Rather, people like me will be forced to trade
offshore with firms that do not have appropriate agencies such as yours to provide some
reasonable protection.
Secretary Stawick, I am asking that you and your agency perform some additional due diligence
and analysis before making the final decision on the 10:1 leverage policy. US-based forex retail
traders (like me) will be very appreciative of these types of efforts and support. Thank you for
your time and consideration.
Sincerely,
PLBarlo w
