Comment Text:
i0-001
COMMENT
CL-06522
From:
Sent:
To:
Subject:
[email protected]
Monday, March 8, 2010 7:41 AM
secretary
regarding proposed regulations on retail forex (RIN 3038-AC61)
To whome it may concern
Dear Sir/Madam
With regards to proposal RIN
3038-AC61
I agree that regulation on retail forex brokers is necessary, especially to prohibit practices such ar slippage and
requotes, and to ensure the brokers are solvent.
I have only one concern with the proposed regulations concerning the leverage of 1 to 10.
For small time forex traders who engage in short term trading(scalping) a 1 to 10 leverage is impossible.
I propose a better limitation would be 50 to 1.
Certainly, many brokers offer ridiculous leverage of up to 400 to 1 which is not sustainable and clearly designed to
allow novice traders loose their capital with the broker.
But a 50 to 1 maximum is still ethical.
Thank you for your time and good luck with your endevours.
Best Regards
Matthew Brady
