Comment Text:
i0-001
COMMENT
CL-00589
From:
Sent:
To:
Subject:
T Sharp
Tuesday, January 19, 2010 1:22 PM
secretary
Regulation of Retail Forex
Dear Sir or Madam:
RE: R1N 3038-AC61
I must voice my opinion that I strongly disagree with the proposal to limit leverage to 10:1 in forex
trading. I realize that most traders in forex lose their money; however, that is not only true in most
forms of securities investing, but is forex, in my opinion, is more due to a lack of education.
Instead, the focus of any reform bills should be on working toward more standardization on the
"provider" side. One example would be to find ways to limit the ability of the various brokers to
manipulate their platforms and the data to take advantage of traders. Along these lines, traders should
be "forced" to at least acknowledge upon the setup of an account with a forex broker just how the
process works (ie, that the broker is taking the opposite position of the trader when they open a
position).
Tim Sharp
