Comment Text:
i0-001
COMMENT
CL-07071
From:
Sent:
To:
Cc:
Subject:
Kirkland
Friday, March 12, 2010 10:38 PM
secretary
[email protected]
Regulation of Retail Forex
ID: RIN 3038-AC61
Dear Secretary Stawick,
I respectfully request that you NOT limit the leverage allowed in FOREX
trading. Please do not treat us like children. FOREX traders are well capable
of determining risk, which is the most important ingredient of successful
trading. That is an often expensive lesson that must be learned by all
traders. It should not be dictated. I believe that you would provide a far
greater service and protection to retail FOREX traders by requiring all Brokers
to use fixed spreads ONLY. The retail FOREX trader is completely at the
mercy of the Broker when it comes to variable spreads, which drastically
increases risk. Brokers, of course, are in business to make money, but they
should not be allowed to do so by manipulating spreads.
Thank you for requesting comments before making your decision on new
regulations.
Very Sincerely,
Burl Kirkland
