Comment Text:
i0-001
COMMENT
CL-00354
From:
Sent:
To:
Subject:
PositionSizer Support
Monday, January 18, 2010 4:05 PM
secretary
Against 10-1 Leverage Regulation of Retail Forex
Letter of Protest - New 10-1 Retail Forex Leverage Rules
To whom it may concern:
I recently reviewed the new guidelines on Retail Forex Leverage Requirements and would like to voice
my opinion a~gainst such action.
Please take into consideration that Retail Forex is a world wide market with many Brokers and Banks
offering services outside the United States. Introducing such strict rules concerning leverage in the
Retail Forex market would have a disastrous effect on many Brokers, Banks, and most importantly the
employees that risk losing their jobs due to outflow of capital.
The capital outflow would be in the billions. Clients will still find a place to trade with 100-1 leverage.
We are not talking about exchange traded products, so clients really do have the choice to go where
they see the best option to meet their needs.
With our economy already hurting and unemployment rates over 10%, this could very well be the straw
that breaks the camels back. Please reconsider that we are not in a position as a country to let every job
in the Retail Forex industry be sent to Europe. Millions of Income Tax Dollars will vanish.
I urge the CFTC in all its wisdom to reconsider the short and long term consequences of such a law
taking effect in United States. This is a very serious decision that I hope the CFTC will reconsider.
Thank you for hearing my opinion.
Regards,
Daniel Honorowski
PositionSizer Developer
