Comment Text:
i0-001
COMMENT
CL-07288
From:
Sent:
To:
Subject:
Huseman, Kevin
Saturday, March 13, 2010 11:14 AM
secretary
Regulation of Retail Forex
To whom it may concern,
Regarding RIN 3038-AC61, I strongly oppose the changing of margin requirements on retail forex
accounts from 100:1 to 10:1.
I am in full support of having a responsible, appropriate regulatory environment. A fundamentally
important aspect of the regulator environment is making sure that the forex dealers are sufficiently
capitalized and that they have communicated the risks inherent to the trading activity to their customers,
ie: the retail forex trader. I feel it is the responsibility of the retail forex trader to understand the activity
that they have voluntarily decided to participate in. As long as the information relative to risk is highly
assessable to the retail forex trader, which I suggest it is, let that person be accountable for the
consequences, both positive and negative as related to their voluntarily decision to participate. A
significant reason as to why the retail forex trader exists is because of the leverage aspect. The net result
if the CFTC enacts the margin change from the current max of 100:1 to 10:1, will be to drive the current
U.S. portion of the retail forex activity to foreign based brokers. It will not do anything to make
participating in the forex markets as a retail trader less risky.
I strongly oppose the CFTC enacting the proposed leverage change contained within RIN 3038-AC61.
Thank you in advance for not enacting the proposed acct margin reduction.
Kevin Huseman
Responsible Trader
