Comment for Proposed Rule 75 FR 3281
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From:
Peter Vanderburg
Organization(s):
Comment No:
3154
Date:
1/23/2010
Comment Text:
i0-001
COMMENT
CL-03154
From:
Sent:
To:
Subject:
Peter Vanderburg
Saturday, January 23, 2010 7:01 AM
secretary
Regulation of Retail Forex RIN 3038-AC61
I would like to register my sincere concern about a proposed new Forex regulation limiting leverage in
trading to only 10:1. I have been trading Forex since 2004 and have been with the same broker since the
beginning. This broker (Oanda) offers a maximum leverage of 50:1 and I have found that trading with
this 50:1 leverage enables me to limit risk very successfully.
If the proposed 10:1 regulation comes in, I shall be forced to look elsewhere to get the leverage I need to
trade successfully without committing very large sums to any one account.
Many of the other proposed regulations are very welcome. Please do not restrict the freedom of traders
to limit their own risk by imposing this arbitrary 10:1 rule. Such a change would threaten my livelihood.
I am diabled with Parkinson's Disease and I work from my office at home. My ability to trade Forex is a
lifesaver to my wife and me.
Sincerely,
Peter Vanderburg
