Comment Text:
i0-001
COMMENT
CL-04779
From:
Sent:
To:
Subject:
Cindy Wahe
Tuesday, February 2, 2010 11:40 AM
secretary < secretary@ C FTC. g ov >
RE: Regulation of Retail Forex
Dear Sir / Madam:
The note below has been brought to my attention:
The CFTC is making an attempt to reduce the leverage that retail FOREX traders will be able to use in the United
States with regulated FOREX brokers. What this would mean for you under the proposed legislation, is that the
100:1 leverage FOREX brokers allow retail customers would be reduced to 10:1. In order to control $1 OK (1 lot) in
currency, you would have to have $1K in available margin with your broker. Currently you only have to have $100.
This would be a drastic difference what you would be able to trade from an intraday and longer term time frame.
As a small currency trader I respectfully request that you do not make any changes to the legislation concerning
the leverage which is currently available to traders like myself. I personally believe that if you make the proposed
change, potentially you will force traders such as myself out of the market or you will send Forex Traders and their
funds out of this country as other countries are not changing their leverage for traders in the Forex market. In
these economic times, this makes no sense to force a situation which could potentially send American dollars out
of the country and doesn't accomplish what this proposed change is trying to accomplish.
Sincerely,
Cynthia Wahe
16732 W 48th Ln
Golden, CO 80403
303.987.0565
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