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Comment for Proposed Rule 75 FR 3281

  • From: Luis Lara
    Organization(s):

    Comment No: 7194
    Date: 3/13/2010

    Comment Text:

    i0-001
    COMMENT
    CL-07194
    From:
    Sent:
    To:
    Subject:
    Luis Lara
    Saturday, March 13, 2010 6:38 AM
    secretary ; [email protected]
    Regulation of Retail Forex
    RIN 3038-AC61.
    Hi i'm writing this email to let you know if this proposal to reduce leverage in the forex trades i
    have no choice to send my money overseas to another brokers outside of the USA cause that's how
    i make profits..
    Instead doing that why don't work in education for new investors i worked hard to learn how to
    trade forex and also i help people who wants to learn...
    Thank you so much and i hope you guys can hear our voice...
    Date: Fri, 12 Mar 2010 17:42:40 -0600
    From : [email protected]
    To: [email protected]
    Subject: Voice Your Opinion on the CFTC's Proposed Leverage Change
    If you cannot read this message, please click here
    VISIT OUR WEBSlTE
    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):
    Fax:
    (202)418-5521i0-001
    COMMENT
    CL-07194
    Mail:
    David Stawick, Secretary
    Commodity Futures Trading Commission
    1155 21st
    Street, N.W., Washington,
    DC 20581
    Courier: 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
    levera~le.**
    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
    D i~(~.~,I M ER: ~a~tir~g ir~ the F oreigr~ E~l~a~ige ~ arket ir~oi~es a sig r~ific~a~i~ a~d s~Ji3s~ar~iai ~isR 0~ i0ss a~d ~na~, r~ot 5e .....
    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.
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    Toll-free in the US: 1-888-387-3933 or +1-212-791-3933. Or visit us on the web at:
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