Comment Text:
i0-001
COMMENT
CL-05312
From:
Sent:
To:
Subject:
Chinpior
Wednesday, February 10, 2010 5:55 PM
secretary
Regulation of Retail Forex
Hi CFTC,
i understand that The Commodity Futures Trading Commission (CFTC) has released a public proposal,
Regulation of Off-Exchange Retail Foreign Exchange Transactions and Intermediaries,
which imposes
new requirements on the U.S. Forex industry. The proposal significantly changes the leverage permitted
on certain accounts and, if passed, would have a drastic effect on retail investors & leverage in retail
forex customer accounts would be subject to a 10-to-1 limitation, i always been a strong supporter of
ethical and fair business practices and the protections offered to traders through industry regulation.
However, i do not support this CFTC proposal, i believe that this proposal discourages beginners
from developing and strengthening their trading style. It effectively prevents investors from
evaluating their own appetite for risk and making personal investing decisions.
Thanks
Regards,
Jason Kern
