Comment Text:
i0-001
COMMENT
CL-05378
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[email protected]
Monday, February 15, 2010 10:59 AM
secretary
Public Submission for 2010-00456
Public Submission for 2010-00456.zip
Please refer to the attached file.Please Do Not Reply This Email.
Public Comments on Regulation of Off-Exchange Retail Foreign Exchange Transactions and
Intermediaries:
Title: Regulation of Off-Exchange Retail Foreign Exchange Transactions and Intermediaries
FR Document Number: 2010-00456
Legacy Document ID:
RIN: null
Publish Date: Wed Jan 20 00:00:00 EST 2010
Submitter Info:
first name Scott
last name Hassa
address1 679 William Bliss Drive
city New Milford
country United States
us state NJ
zip 07646
company
Most if not all people who trade forex know the danger of leverage and how to properly use
it.. Many including myself keep a certain percentage of cash in the forex brokerage account
and a certain percentage in a cash equivalent account which we treat as a total sum when
trading our account, using the leverage in a calculated and responsible manner. Limiting
leverage to such a low 1:10 ratio will impact our ability to trade how we have been trading,
and many traders including myself will transfer our accounts overseas and the US market will
lose our business and tax revenue. I am all for regulation and oversight of the FX market, but
this change is doing more harm than good.
