Comment Text:
i0-001
COMMENT
CL-06898
From:
Sent:
To:
Subject:
nance@rnkglobalenterprises, com
Friday, March 12, 2010 7:21 PM
secretary
URGENT: Regulation of Retail Forex
Dear CFTC (Commission):
Regarding: RIN
3038-AC61, please be advised that I object to both the 10:1 leverage
restriction AND I object to the "FIRST-IN, FIRST-OUT" trading restrictions being imposed by
the Commission. Both of these restrictions hurt the smaller trader. This is, yet again, an
attempt to squeeze out the little guy, to limit our resources and ability to make up the losses
we've incurred in the stock market, and it gives the central banks, big banks, and big
corporations the upper hand in the Forex market. It's time to put a stop to it. Allow us, the
small traders, the opportunity that the forex market should give ALL traders -- an EQUAL
playing field. These restrictions place a huge burden on us. Please remove them both -- the
10:1 leverage AND the first-in, first-out restrictions. If you continue to make restrictions such
as these, the smaller companies and individuals will be forced to go elsewhere to trade. Why
not keep American money in the U.S.?
Thank you for your consideration.
Sincerely,
Nance
Nance U Kowalski, President
RNK Global Enterprises, Inc.
[email protected]
Office: 224-267-0188
........
Original Message
........
Subject: [SPAM] Voice Your Opinion on the CFTC's Proposed Leverage
Change
From: "FXDD.com"
Date: Fri, March 12, 2010 5:34 pm
To: [email protected]
If you cannot read this message, please click here
VISIT OUR WEBSITE
ww~v.fxdd.com
Dear valued FXDD clients,
We wanted you to be aware that The U.S. Commodity Futures Trading Commission (CFTC) is
seeking public comment on proposed regulations concerning retail Forex trading.
PLEASE NOTE: FXDD Malta customers will not be affected by these proposed changes, but are
still encouraged to voice your opinions.i0-001
COMMENT
CL-06898
According to the CFTC, "leverage in retail Forex customer accounts would be subject to a
10-to-1 limitation," which means 10:1 leverage would be the maximum amount allowed for
Forex traders in the U.S.
VOICE YOUR OPINION NOW
Should you feel strongly about the proposal, there is still time for you to help determine the
outcome.
The deadline for public comment is March 22, 2010. Make your opinion heard by
sending comments directly to the CFTC at: [email protected]
(please
CC:
[email protected])
Please include 'Regulation of Retail Forex' in the subject line of your message and the following
identification number in the body of the message: RIN 3038-A061.
You can also submit your comments
by
any of the
following methods (include
above ID
number):
Fax:
(202)418-5521
Mail:
David Stawick, Secretary
Commodity Futures Trading
Commission
1155 21st
Street, N.W., Washington,
DC 20581
Courier: Use the same address as mail above.
**All of
your comments, no matter how
short, will
have an impact on the outcome of the
proposed rule change so do not hesitate to send a brief email objecting to the reduction
in
leverage.**
An
example
of how the
proposed regulatory
restrictions would affect a
major currency pair
appears below:
Maximum Leverage
Maximum Leverage
under
Current
Regulations
under
Proposed
Regulations
USD/JPY
USD/JPY
1 lot (100,000)
1 lot (100,000)
100:1 leverage (one percent)
10:1 leverage (10 percent)
Margin requirement: $1,000
Margin requirement: $10,000
Learn more about the CFTC's proposed leverage changes and how they may affect your trading
by clicking here.
In the meantime, we encourage you to voice your opinions to the CFTC and
your local U.S. representative.
Best Regards,
FXDD Team
D i~(~[~AIM ER: ~a~tir~g ir~ the Foreigr~ E~l~a~ige ~ arke~ ir~oi~es a sig r~ific~a~i~ a~d s~Ji3s~ar~iai ~isR 0~ i0ss a~d ~na~, r~ot i3e ....
suitable for everyone. You should carefully consider whether trading is suitable for you in light of your age, income,
personal circumstances, trading knowledge, and financial resources. Only true discretionary income should be used for
trading in the Foreign Exchange market. Any opinion, market analysis or other information of any kind contained in this
email is subject to change at any time. Nothing in this email should be construed as a solicitation to trade in the Foreign
Exchange market. If you are considering trading in the Foreign Exchange market before you trade make sure you
understand how the spot market operates, how FXDD is compensated, understand FXDDDs trading policy and rules and
be thoroughly familiar with the operation of and the limitations of the platform on which you are going to trade.
FXDD 75 Park Place, 4th Floor, New York, NY 10007 USA
Toll-free in the US: 1-888-387-3933 or +1-212-791-3933. Or visit us on the web at:
http://www.fxdd.com
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