Comment Text:
i0-001
COMMENT
CL-06501
From:
Sent:
To:
Subject:
Adam G. Thornsley
Sunday, March 7, 2010 7:41 PM
secreta ry < secretary@ C FTC. g ov >
Regulation of Retail Forex
Greetings,
The proposed regulation to reduce the margin allowance for forex trading from 100:1 to 10:1 is
absolutely ridiculous and unnecessary and Iam strongly opposed to it. All majorforex brokers in
the United States already help manage risk to margin users by automatically closing positions
before the client finds themselves in a negative equity position. By reducing the margin to this
degree, you'll only be adding to the frequency for which that occurs for legitimate investment
purposes that have sound macroeconomic reasoning behind them. Additionally, there are long-
term investors currently using 100:1 margin that would have to close their positions prematurely
as a result of this drastic margin change in order to keep their position from being called back.
Investing, just like any other form of business, requires a level playing field in order for individuals
in one country to do as well as those in another country. Changing the allowable margin levels to
this degree will essentially squeeze out all forex investing in the U.S. and put U.S.-based investors
ata severe disadvantage to the rest of the world. That's a huge transfer of wealth out of this
country and into others. That's alsoa big blow to tax revenue. I hope you reconsider this poorly
conceived regulation.
Thanks,
Adam Thornsley
Austin, Tx
[email protected]
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