Comment Text:
i0-001
COMMENT
CL-07435
From:
Sent:
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Cc:
Subject:
[email protected] on behalf of
~
Sunday, March 14, 2010 3:57 AM
secretary
cftcfeedback < [email protected] >
Regulation of Retail Forex
To whom it may concern:
I am a forex trader in China and I have been using US brokers for several years and very satisfied. Compared with
other countries brokers, the aspects of US counterparties appealing me, which I think apply to other countries
clients also, are:
1, Strong and respectable regulation bodies,
2, Sound and sophisticated financial infrastructure,
3, US as a country have a tradtion for the protection of international investors,
4, US based forex firms are generaly more financially solid and well-managed.
Regarding your recently regulation proposal, I fully agree to enhance industry oversight, but I don"t like put any
restrictions on leverage. Leverage is a very important tool for us seeking financial freedom as your Amercian, and
lowering leverage dramatically like this will not only hurt our clients feeling but also drive us to other countries (ie.
unregulated) brokers despite above advantage. This is not a win-win situation, it"s a lose-lose situation that you
probably wouldn"t expected.
Please reconsider your proposal.
Regards
Wang Kui
