Comment Text:
i0-001
COMMENT
CL-05415
From:
Sent:
To:
Subject:
Sunday Olaode
Tuesday, February 16, 2010 10:27 PM
secretary
Regulation of Retail Forex
Dear Secretary,
While I have a strong supporter of ethical and fair business practices and the protections offered
to traders through industry regulation. However, I do not support the CFTC proposal
(Regulation of Off-Exchange Retail Foreign Exchange Transactions and Intermediaries).
I believe this proposal discourages beginners like me from developing and strengthening my
trading style. It will also prevent investors like me from evaluating my own risks and making
personal investing decisions.
The doors recently opened for retail investors like me to trade in this market; will effectively be
closed through the proposed rules, once again making the forex market accessible only to financial
institutions (big corporations).
The 10:1 leverage proposed, retail trader like me will be subject to a 10% margin requirement.
Please do not implement this proposal.
Sincerely,
Sunday Olaode
Retail trader
