Comment Text:
i0-001
COMMENT
CL-05182
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[email protected]
Monday, February 8, 2010 12:51 PM
secretary
Public Comment Form
Below is the result of your feedback form. It was submitted by
([email protected]) on Monday, February 08, 2010 at 12:51:08
commenter_subject: RIN 3038~ "AC61
commenter_frdate: January 20, 2010
commenter_frpage: 3282
commenter_comments: Please do not reduce the overall leverage of
Off-Exchange Retail Foreign Exchange Transactions
from 100:1 to 10:1. I feel this is not the proper
way to address the high failure rate (90% or
greater) of retail investors/traders in general and
will limit the choices of experienced professional
or individual investors. Instead it would be
better to allow each individual the choice to
throttle their own Forex account leverage limits
based on a mandatory (for example) risk disclosure
(and course/online quiz?) presented by retail Forex
brokers. For example, rather than limiting the
overall leverage to 100:1, it might be better to
require a mandatory risk disclosure that obligates
account holders to sign a form to throttle higher
than a default leverage level of 10x. To prevent a
boilerplate yes response applicants might be
required to complete a quiz of some sort based on a
set of required course material to ensure
comprehension. This provides protection for newer
traders but allows experienced traders the
flexibility of higher leverage.
Regards,
commenter name: Jason Chan
commenter withhold address on: ON
commenter addressl: 744 Oakwood Court
commenter_city: Westmonti0-001
COMMENT
CL-05182
commenter state: IL
commenter zip: 60559
commenter~hone: 630-532-2222
