Comment Text:
i0-001
COMMENT
CL-05187
From:
Sent:
To:
Subject:
[email protected]
Monday, February 8, 2010 1:30 PM
secretary
Regarding the reduction in Leverage to 10 to 1
To whom it may concern.
I am opposed to reducing the leverage to 10 to 1. A more appropriate leverage should be 50 to 1. That is very
reasonable for some one who is learning to trade.
I hear comparisons to the Forex being gambling, yet, I do not see the government trying to halt casinos and
lotteries from raking in the tax money for the. The CFTC and the NFA should have been looking more closely
at who was getting into the business. I lost $18,000 with a company called One World that you never warned
us about until they were unwilling and unable to return the money we had in our accounts. That is what you
should be concerned about.
I have never lost that much money trading and actually make my living trading the forex. But you want us to
place much more money at risk by having us to up the amount we have in our accounts. I TRUST NO ONE
with a lot of MY MONEY. But you want us to lose money when a broker collapses.
It will only be reasonable to lower the leverage to that extreme level if you are going to insure the accounts here
in the states. It will be very easy to transfer my money to e foreign account that is backed by governments.
That is my piece.
Robert Renk
303-521-7622
