Comment Text:
i0-001
COMMENT
CL-05147
From:
Sent:
To:
Subject:
josh schultz
Monday, February 8, 2010 10:38 AM
secretary
Regulation of Retail Forex
The proposed restriction on retail forex would present many people with limited access to learn and
make money. It used to be that forex was only available to those with large sums of money. I don't know
about you but many people in these trying economic times do not have an extra $14,000 sitting around
to deposit into their trading accounts if this proposed restriction is put in place. Many people that now
trade reatail forex would be forced to close their accounts. It seems to me that that this would be a step
backwards. It would force many people to move their accounts off shore where the restrictions and rules
are less. It would also seem that this isn't exactly a "fair-trade" proposal at all. I believe in CFTC and
NFA oversight when it comes to protecting traders from unfair practices by retail brokers but really in
this situation there is no protection for traders from unfair practices by those governing the rules and
laws concerning who can trade what and how much money they must have.
