Comment Text:
i0-001
COMMENT
CL-05163
From:
Sent:
To:
Subject:
beverly bansil
Monday, February 8, 2010 11:29 AM
secretary
Proposed Leverage Change tol0:1 on Retail Forex Traders
February 08, 2010
To Whom It May Concern:
I am writing in response to the public proposal to change the leverage on retail forex from 100:1 to 10:1,
I believe this proposed change will greatly impact a lot of retail forex traders
here in the US and will also devastate the retail forex market here. A significant number of US based
forex account holders will definitely close their accounts here, I myself included,
and move their business abroad, generating revenues for brokers abroad like UK and Australia. This will
also discourage other investors especially foreigners to open forex accounts here. I do believe in strict
regulations in protecting consumers, but with any investment, risk goes along. Education and awareness
are essential to inform consumers about the risk, not restrictions.
Repectfully Yours,
Bev Bansil
