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Comment for Proposed Rule 75 FR 3281

  • From: Michael Regal
    Organization(s):

    Comment No: 6850
    Date: 3/12/2010

    Comment Text:

    i0-001
    COMMENT
    CL-06850
    From:
    Sent:
    To:
    Cc:
    Subject:
    Mike Regal (mregal)
    Friday, March 12, 2010 6:07 PM
    secretary
    [email protected]; Mike Regal (mregal)
    Regulation of Retail Forex
    RIN 3038-AC61
    I am against the proposal to subject US traders to a 10-to-1 leverage limitation. I've already had to swallow a 200-to-1 downto
    100-to-1 leverage move based on NFA compliance. A move from 100-to-1 downto 10-to-1 would seal the deal. I would close
    my brokerage account here in the US and do business with overseas brokers.
    This is a bad for business proposal.
    As a trader, I'm responsible for assessing the amount of risk I'm willing to take. While you may think you're protecting
    irresponsible traders, there are many more responsible ones who understand the risks involved and can trade "within their
    means".
    I vote NO to this proposal.
    Regards ... Michael Regal