Comment Text:
i0-001
COMMENT
CL-03388
From:
Sent:
To:
Subject:
(;:ac~r~ G01er
Saturday, January 23, 2010 8:00 PM
secreta ry < secreta ry@ C FTC. g ov >
Regulation of Retail Forex
RIN 3038-AC61
Dear Sirs,
I am a retail forex trader from Europe and I have been relying on a US forex broker services to my
best satisfaction for some time now.
As of recently, I have heard that CFTC has plans to downsize (yes, this is probably the most
appropriate word for it), the US retail forex leverage down to 10:1.
In few words, should this really happen, I and many other people I know who currently rely on US
brokers are going to transfer our capital from BOA and other US banks and brokerages to European
banks and brokerages which are far less convenient for trading but at least have no problems with
100
: 1 leverage.
With all due respect, it is my honest opinion as a forex trader that this regulation of yours can
represent the final blow to the US retail forex, so if it is your aim to destroy this industry entirely in
the US and have the capital transfered elsewhere then feel free to proceed with it. If on the other
hand you do happen to care for the industry, then please, by all means, abandon this idea forever.
Trading is risky. All trading is risky. Those who don't understand and/or are not ready to assume
this risk should not be trading and not you nor any other body should try to "protect" them against
themselves at the expense of other traders.
Also, I would like to remind you that forex is the very least risky market. Exchanges can and do
crash. Exchanges can and do open with huge gaps. Exchange traders can and do end up owing
commodity and stock brokers more than they have in their accounts. Forex traders are immune to
these risks. But then again, you already know this. Therefore, being well aware that you have
already received tons of similar appeals I will have no other option but to judge your decision
(again, should it take place) as malevolent and counter to common sense and financial interests of
the United States.
Looking forward to your soon reaction and complete rejecting the 10:1 leverage related regulation.
Sincerely,
Windows 7: GOndelik i~lerinizi basitle~tirin.
Size en uygun bilgisayar~ bulun.
