Comment Text:
i0-001
COMMENT
CL-07195
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Sent:
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Cc:
Subject:
Peter A
Saturday, March 13, 2010 4:48 PM
secretary
[email protected]
New leverage rules - BAD idea
Dear CFTC !
I don't know if you realize it but the only thing you are going to achieve by reducing the leverage to
1:10 is that most forex brokers and traders are going to pack their staff (and all money) and send it
to Europe.
It's not just the US citizens. Remember that half of the world (if not more) have their trading
accounts in the US because they trust you. But if you push them against a wall what do you expect
them to do?
The very essence of forex trading is the fact that you can leverage your money by 50 or 100
(sometimes even more). Otherwise there is no point.
Basicly you are killing this industry in the US and at the same time strengthening Europe. If
that's what you want .... Go ahead
It is still not too late to reconsider ...
Please!
Yo u rs
Peter - forex trader
