Comment Text:
10-001
COMMENT
CL-07386
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[email protected]
Saturday, March 13, 2010 6:39 PM
secretary
Public Submission for 2010-00456
Public Submission for 2010-00456.zip
Please refer to the attached file.Please Do Not Reply This Email.
Public Comments on Regulation of Off-Exchange Retail Foreign Exchange Transactions and
Intermediaries:
Title: Regulation of Off-Exchange Retail Foreign Exchange Transactions and Intermediaries
FR Document Number: 2010-00456
Legacy Document ID:
RIN: null
Publish Date: Wed Jan 20 00:00:00 EST 2010
Submitter Info:
first name Charles & Sandra
last name Elliott
address1 402 Car Mol Dr
city Johnson City
country United States
us state TN
zip 37601
company
We strongly object to the proposed rule changes that reduces the leverage to 10:1 for retail
Forex traders. The foreign exchange market is very liquid and is one of the LEAST volatile of
the many investment instruments available to the retail trader or investor. We feel that the
last rules were in excess when the leverage was reduced to 100:1 which puts our brokers at
a disadvantage to brokers in other countries. We trade with small accounts and our risk
taking is measured intelligently. We have never had a margin call and our broker has always
treated us fairly. Don't make us take our business offshore where the overall risk will be
difficult to measure. This country's financial mess was not caused by trading in the Forex
Market, so please leave this part of your rush to change the rules to "protect the public" alone.
