Comment Text:
i0-001
COMMENT
CL-06995
From:
Sent:
To:
Subject:
Steven Williams
Friday, March 12, 2010 8:36 PM
[email protected]; secretary ; [email protected]
RE: Voice Your Opinion on the CFTC's Proposed Leverage Change
I am against the proposal to subject US traders to a 10-to-1 leverage limitation. The 200-to-1 down to 100-to-1
leverage move based on NFA compliance was more than I would prefer. A move from 100-to-1 down to 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 l'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 ... Steven M Williams, D.M.D.
From:
FXDD.com [mailto:[email protected]]
Sent:
Friday, March 12, 2010 4:09 PM
To:
[email protected]
Subject: Voice Your Opinion on the CFTC's Proposed Leverage Change
If you cannot read this message, please click here
VISIT OUR WEBSlTE
Dear valued FXDD clients,
We wanted you to be aware that The U.S. Commodity Futures Trading Commission (CFTC) is
iseeking 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
iencouraged to voice your opinions.
According to the CFTC, "leverage in retail Forex customer accounts would be subject to a
10-to-
il
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
icomments directly to the CFTC at: [email protected]
(please CC: [email protected])i0-001
COMMENT
CL-06995
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-AC61.
You can also submit your comments by any of the following methods (include above ID number):
F ax:
Courier:
(202)418-5521
David Stawick, Secretary
Commodity Futures Trading Commission
1155 21st Street, N.W., Washington, DC 20581
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
leve rage.**
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
~;licking here.
In the meantime, we encourage you to voice your opinions to the CFTC and your local
U.S. representative.
Best Regards,
FXDD Team
DISCLAIMER: Trading in the Foreign Exchange market involves a significant and substantial risk of loss and may not be
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 FXDD's trading policy and rules andi0-001
COMMENT
CL-06995
be thoroughly familiar with the operation of and the limitations of the platform on which you are going to trade.
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