Comment Text:
i0-001
COMMENT
CL-07066
From:
Sent:
To:
Cc:
Subject:
j ay98711
Friday, March 12, 2010 10:32 PM
secretary
[email protected]
Regulation of Retail Forex
RIN 3038-AC61
Hi,
I would like to voice my objection to the maximum leverage rule change to 10:1 for retail forex trading.
That is a significant and rediculous change. That would drastically affect my trading strategy so much
that I would be forced to move all of my current trading accounts to either offshore brokerage houses
outside the US or to deal with unregulated brokers within the US. All of these rule changes in the forex
industry do not protect the investor. In fact the actually harm the investor. The leverage offered in forex
is the main reason why I choose to invest in forex. I became a trader seeking high risk high return types
of investments, and forex satisfied those desires. The only thing that these rules protect are the
uninformed ignorant forex investors that do no understand the fundamental rule of finance. Greater
the risk = higher rate of return. In the end these rules will just force customers to go outside the United
States which leaves the regulated US brokers an unfair advantage in attracting customers. Global
trading environments function best when there are a common regulations between all parties involved.
The forex market is not strictly a US market, therefore the US government will never be able to
completely control it.
Thank you,
Jason Eber
iay98711 @earthlink.net
