Comment Text:
i0-001
COMMENT
CL-04076
From:
Sent:
To:
Subject:
gurpalchagar@hotmail, co.uk
Tuesday, January 26, 2010 1:23 PM
secretary
Comments on proposed Regulations on Retail Forex Transactions - RIN 3038-
AC61
Hope you are well. In response to RIN 3038-AC61.
As a Forextrader for the past year and a half, I do agree that there should be tighter regulations on
certain forex brokers for sure as you have described in your proposed regulation.
However I do not agree with new proposed leverage of a maximum of 10:1 that has been quoted in
the proposal. As in my opinion this would mean that a lot of small traders would not be able to
trade as effectively. The knock on effect of this could be numerous traders taking there capital out
of the US market, thus leaving the US banking system, to brokerages based in different
countries where the leverage is more workable for them.
Thus I agree with the proposed regulations, however I would like to suggest that wouldn't it be
more reasonable and workable to provide a maximum leverage of 50:1.
Thank you for reading
Yours Sincerely
Gurpal Chagar
