Comment Text:
i0-001
COMMENT
CL-06475
From:
Sent:
To:
Subject:
[email protected]
Sunday, March 7, 2010 12:54 PM
secretary
Regulation of Retail Forex
RIN 3038,AC61
Why dent families give theirneW!y !iCensed teen age drivers thekeys to the fami!yls newest andm0st Va!uab!e Cars?Because history
has shown that because 0f their lack 0f experience, they are the most !ikely t0be inyo!ved in accidents The insurance C0mpanies a!so
know What fami!ies know; and therefore they Charge higher rates for these drivers; unti! they gain m0re experience.
!no rder to protect inexperien Ced an d new forex traders You r department might CO nsider requir!ng that brokerages assign minima!
leverage levels renew trade rs until they gain more experience. YOucould esta bliSh a Sliding SCale that Would allow them to gradually
increase leverage !eve!s on!y after customers h ave maintainedth eir !ive acco unts over specified periods of timei demonstratin g th at
they have acquired the knowledge and u nderstan din gel th e risks in this market you Cou!d then fol!ew~u p andm e niter th em tom ake
sure that they are adhering to your guide!ines
! think you Wou!
d
ag ree tha
t the shotgun type;on e sto p sh 0p,
o0 kie Cutter,
0
ne Size fits a!! approach, o
f
redu CJag the leverage !e~e!s
across the board for a!! traders, w0uld simp!y resu!t in the season ed, proven traders moving their accou nts to off,sh0re brokerages. Or
that the brokerages themse!ves Wou!d move 0ff shore an d take these j0bseff shore with them, to side step th e 0ne+size fits a!!
restrictionsi The seasoned traders have already demo nstrated over time that they grasp, u nderstand, and have adjusted to the risks of
this speculative m arket.
Thanks for your concern abo ut higher !everage !eVe!s pOssib!y haVin g an adverse effect onnew and or inexperienced forex traders Who
may not understand the risks associated With trading in this market
Nat R ....
