Comment Text:
i0-001
COMMENT
CL-07062
From:
Sent:
To:
Subject:
Nancy Kettle
Friday, March 12, 2010 10:19 PM
secretary
FW: Regulation of Retail Forex
My full address included below.
RE: RIN 3038-AC61.
Dear Mr. Stawick,
I am writing to strongly object to the proposed new leverage for spot Forex to lo:1 because it will
effectively shut out many retail traders out of the Forex market, at least out of the US Forex market
and limit currency trading market to the wealthiest individuals. I trust this is not CFTC's intent and
that it will leave current maximum leverage at loo:~.
Current, aoo:a leverage is reasonable in that it allows retail traders to start small start up capital and
build it up to something substantial. Without this aoo:l leverage retail traders would have to have
much higher capital in order to trade and have a chance to generate decent income. Please allow retail
traders this opportunity here in the US market because it is still the safest. Your proposed ao:a
leverage will not stop retail traders from trading, they will have to take their chances in a less safe
countries that allow better though riskier opportunity to generate income. This is a time for expanding
opportunities, not to Please think of those seeking an opportunity to survive and thrive. Your
proposed ao:a leverage will cripple them, especially in the current economic environment with high
unemployment and limited work opportunities. This new proposal would make things even
worse.limit them. Yes, many people have not done well in Forex but there are those who have done
extraordinarily well. Your proposed lo:a leverage will not affect the wealthy or the wealthiest
individuals because they have sufficient capital already.
l am a retail Forex trader and I strongly object to the proposed ao:a leverage. Please allow me and
others the opportunity to take care ourselves by leaving aoo:l leverage intact. I trust that you will take
our objections seriously.
Best regards,
Nancy Kettle
86~ Snowy Owl Way
Tampa, FL 33647
