Comment Text:
i0-001
COMMENT
CL-07227
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Sent:
To:
Subject:
e-mail linstanfinancials
Saturday, March 13, 2010 8:56 AM
secretary
regulation of retail forex.
ID No Rin 3038-AC61
With the upcoming deadline for submissions I would like to make the following comments.
1. The 10:1 restriction could be for traders were accounts have been opened for less than a specific time
say 1 year, till they gain experience. So the trade with $1000 account would be 0.1 lots. Which is about
right. Will stop new traders gambling.
2. Accounts opened after initial period 50:1 say 2 years.
3. Professional Traders 100:1.
The main problem is unsubstantiated claims for forex success. Brokerage commissions etc not being
transparent. Unregulated spreads varying widely from inception of trade to execution.
Must have guaranteed stop loses, as manipulation in this field is widespread to basically steal money
from newish account holders.
Hope this helps.
Regards Stan James Professional Trader.
