Comment Text:
i0-001
COMMENT
CL-05096
From:
Sent:
To:
Subject:
Igor Korabelnikov
Saturday, February 6, 2010 4:55 PM
secretary
Regulation of Retail Forex
To Whom It May Concern:
My name is Igor Korabel and I'm writing to express my opinion and concern regarding the new
proposed regulation that would decrease the available leverage to 10:1. I believe that this rule will
impact a large number of retail traders, including myself who earn part or all of their income from
trading retail forex. I believe that every trader should have a right to decide for themselves on the
amount of risk they should take and the amount of leverage to use when trading. The new rule will
force many traders to close their accounts with US brokers and move those accounts to offshore brokers.
In the long run that may hurt many traders because some countries do not regulate their brokers enough
and traders may end up getting scammed in the process. I would love to keep trading with a US broker
because I have much more trust in a US broker and CFTC than I would with a foreign entity. However,
if the proposed changes become the new rule, I and many other retail traders will have no choice but to
move their account offshore.
Sincerely,
Igor Korabel
