Font Size: AAA // Print // Bookmark

Comment for Proposed Rule 75 FR 3281

  • From: John Hinson
    Organization(s):

    Comment No: 698
    Date: 1/19/2010

    Comment Text:

    i0-001
    COMMENT
    CL-00698
    From:
    Sent:
    To:
    Subject:
    John Hinson
    Tuesday, January 19, 2010 4:20 PM
    secretary
    Regulation of Retail Forex
    Thank you for your oversight of the Retail Forex markets. It is comforting to know there is a watchdog
    keeping retail brokers operating with their customers best interest in mind.
    That said, I strongly oppose your recent recommendation to limit margin to 10:1.
    The liquidity and flexibility provided by the retail Forex brokers is a critical component to my retail
    trading success. If the maximum allowable margin were lowered to that degree then the capital required
    to trade in this market would prevent me from participating.
    Please don't take this opportunity away from me. As a trader I deeply understand the risks involved with
    trading these markets and the money discipline required. In my dealings with brokers they have all been
    VERY clear and professional when it comes to using margin. Changing the margin requirement like you
    suggest will devastate the retail Forex market and will severely limit my investment opportunity.
    Please do not pass the new margin requirement.
    Best Regards,
    John Hinson
    (206) 816-0781
    Seattle, WA.