Comment Text:
i0-001
COMMENT
CL-07219
From:
Sent:
To:
Subject:
George
Saturday, March 13, 2010 8:21 AM
secretary
Regulation of Retail Forex
Dear U.S. Commodity Futures Trading Commission (CFTC),
ID NUMBER: RIN 3038-AC61.
RE: 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.
I ask that you consider the ramifications of this action to the individual private trader. Little by little,
the benefits of the individual trader are being eroded in both the equities and FOREX market.
This action will create another barrier to private individuals' ability to compete in the FOREX market. It
will hurt the U.S. FOREX broker industry by encouraging traders to seek foreign brokers. And, it will
reduce revenues received by the U.S. Government.
I realize the spirit in which this is conceived; to save the private investor from themselves. However, it
will have the opposite effect. These 'unintended consequences' will further the erosion of fostering
capitalism within a free market society. The more these types of regulations are bestowed upon the
markets, the more difficult it is for our country to grow and prosper.
I ask that you consider this information in your decision.
Thank You
George
