Comment Text:
i0-001
COMMENT
CL-04713
From:
Sent:
To:
Subject:
Eric Sneed
Monday, February 1, 2010 9" 58 AM
secretary < secretary@ C FTC. g ov >
RIN
3038-AC61
To Whom It May Concern:
I was recently reading the comments about regulation RIN 3038-AC61 and had not seen my
comment on the site, so if it had been recieved I apologize but if my email had not made it to you
then here is my message:
I am writing to you to express my worry and concern over the leverage regulations proposed for
retail forex transactions. I believe that this would do nothing but
harm people and force them
invest more capital that they could still potentially lose. Trading is a risk-based business, that is
well expressed in the disclaimers used by regulated forex brokers.
I humbly ask of you all to reconsider and not pass this proposal to limit the leverage to 10:1.
Instead rather, I believe you should allow traders to choose the leverage they feel is appropriate.
Many traders rely on trading at leverage as it is now to provide for their families and to make an
honest living. Limiting this would rob someone of this right.
I have read the other proposals in the rest of the document and I feel these proposals are perfectly
just, my only problem is with the 10:1 leverage, please consider how much of a negative impact
this would have. Thank you for your time.
Sincerely,
Eric Sneed
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