Comment Text:
i0-001
COMMENT
CL-05161
From:
Sent:
To:
Subject:
Robert Speulstra
Monday, February 8, 2010 11:24 AM
secretary
Regulation of Retail Forex
LS,
I herbey oppose to the proposal for the resitiction of leverage in the Forex market to 1:10
Yes the Forex market needs regulation, but instead of making it hard for small traders, the CTFC main focus
should be protecting investors for malicious or fraudulus brokers who manipulate the forex datafeed or sell robots
which will leed to disastrous results. And the CTFC should protect customers against brokers who trade for their
own account while they have insight in where the stoplosses of their clients are. This is no equal playing field.
How much risk a trader wants to take is his own responsibility. As long as he can not loose more than he invested
this is normal market behaviour.
Besides: this regulation which will only leed to clients running away from USA brokers and start trading in an other
country.
I agree that a leverage of 1:100 or even more is riduculous, but 1:10 is the other opposite, something in the
middle would be wise 1:50 by example. It would also be wise reducing the risk brokers are taking themselves
because their tradng on their own account. This will almost always leeds to a confilict of interest with their own
customers.
With kind regards,
Robert Speulstra
The Netherlands
