Comment Text:
i0-001
COMMENT
CL-04701
From:
Sent:
To:
Subject:
D Owens
Monday, February 1, 2010 12:02 AM
secretary
Regulation of Retail Forex
DearCFTC,
I'd like to voice my concern over the recent proposal to limit the leverage on forex accounts to 1:10.
As an employee of a company that would be affected by this change, the proposal is frightening as it
will severely limit the opportunity we have to serve our clients or attract new clients. Because these
limits are only placed on firms in the United States, clients will look for higher leverage and more
freedom from companies outside of the United States and the jurisdiction of the CFTC.
The CFTC has already limited the leverage of forex trades to 1:100; this in combination with the
disclosures of risk demanded by the CFTC, already limits the risk clients take while investing in forex.
Clients should have the option to read the disclosures, study the risks, and decide for themselves the
leverage they would like to trade with. This is good for the clients and for American companies
working to succeed in an international market.
Please reconsider your proposal to limit the leverage of forex trading to 1:10 leverage. Give the clients
and companies that work in the forex market freedom to make their own choices and ability to succeed.
Sincerely,
D. Owens
