Comment Text:
i0-001
COMMENT
CL-07077
From:
Sent:
To:
Subject:
Admin -
Friday, March 12, 2010 10:46 PM
secretary
Regulation of Retail Forex
RIN 3038-AC61
To whom it may concern:
Please do not change the leverage to 10:1, this change is unfair to many of us who has to depend on
trading forex for a living. All individuals should be responsible for their trades and must have spend
very long time to research, months or even years..,
changing this leverage to protect the lazy traders
from getting themselves burnt at our expense is totally not justifiable, changing this will also result in
both the experience AND inexperience traders to open new accounts not registered with CFTC. Kindly
re-consider, please. Thank you.
On Sat, Mar 13, 2010 at 8:01 AM, FXDD.com wrote:
If you cannot read this message, please click here
N FXDD - Trade Forex. Seriously.
VISIT OUR WEBSITE
www.fxdd.com
Dear valued FXDD clients,
We wanted you to be aware that The U.S. Commodity Futures Trading Commission (CFTC) is
seeking 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 encouraged to voice your opinions.
According to the CFTC, "leverage in retail Forex customer accounts would be subject to a
10-to-1 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 comments directly to the CFTC at: [email protected]
(please CC:
[email protected])
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-A061.
You can also submit your comments by any of the following methods (include above ID number):i0-001
COMMENT
CL-07077
Fax:
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
leveracje.**
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 clicking 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 and
be thoroughly familiar with the operation of and the limitations of the platform on which you are going to trade.
FXDD 75 Park Place, 4th Floor, New York, NY 10007 USA
Toll-free in the US: 1-866-367-3933 or +1-212-791-3933. Or visit us on the web at:
http://www.fxdd.com
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