Comment Text:
i0-001
COMMENT
CL-07144
From:
Sent:
To:
Cc:
Subject:
McWalis Consulting
Saturday, March 13, 2010 2:47 AM
secretary
[email protected]
Re: Change in Trading Leverage
MY OPINION ON CHANGE IN FOREX TRADING LEVERAGE
The reduction of available maximum trading leverage in FOREX from
1:100 to 1:10 to US retail traders will have the following impact;
1. Traders will be striped off the advantage of making good reliable
money from the FOREX
market.
2. US proposed regulation will be "shylock" in outlook, the once
liberal United State will drive out many people from trading FOREX
3. Resulting from No. 2 above; it may triger-off or increase unemployment rate.
4. The proposed regulation will short out many retail traders and will
confine it to the rich alone.
5. Income on transfers of fund in and out of US by retail traders will
be reduce and will have negative effect on tax income to the
government
6. Residents from other countries will avoid trading on US based
brokers platform- this will be a loss in customers population.
I WISH TO SUGGEST THAT THE US GOVERNMENT RETAINS THE CURRENT LEVERAGE
OF 100: 1. IT IS NOT TOO MUCH IF BROKERS FROM OTHER COUNTRIES CAN
AFFORD AS HIGH AS 500:1
Let me ask, what is the primary motive(s) behind the reduction of the
leverage ratio?
Adebo, T. Adewale
