Comment Text:
i0-001
COMMENT
CL-04963
From:
Sent:
To:
Subject:
Greg Campbell
Thursday, February 4, 2010 9:51 AM
secretary
Regulation of Retail Forex
To Whom It May Concern,
The proposed amendment to the current law regarding leverage on forex
accounts would put me, a casual investor, out of business. I have
been responsible with my finances all my life, own outright two homes,
have never been bankrupt, have no credit card debt, and so on. I have
set aside a small amount to 'dabble' in the spot forex market. If I
lose that, I will not reinvest more funds. The point is that I don't
need someone else to mitigate my losses. Currently I am with MB
Trading, a very responsible broker. Their leverage is 100:1 which
allows me to trade small amounts without a huge investment. Should
the requirements go to 10:1, I would either have to quit, or invest a
greater amount. If your intention is to help me mitigate my losses,
setting up a situation which would require me to invest more into my
account would be counter productive. I respectfully request that you
drop the change requiring a 10:1 requirement and leave leverage as it
is.
Thank you,
Greg Campbell
