Comment Text:
i0-001
COMMENT
CL-07474
From:
Sent:
To:
Cc:
Subject:
Jeff Gehr
Sunday, March 14, 2010 1:03 PM
secretary
[email protected]
Regulation of Retail Forex'
identification number
RIN 3038-AC61
David Stawick
Secretary, Commodity Futures
Trading
Commission,
2255 22st Street, NW,
Washington, DC 20582
Dear Mr. Stawick:
It has come to my attention in the recent days that there are proposals on the table to change
regulations for US brokers and their clients, such as myself, further on Leverage from 100:1 to
10: 1. While I am in support of the CFTC and NFA in their efforts to eliminate fraud and deception within the Forex
Market, l am however, VEHEMENTLY AGAINST any further reduction in the Leverage
regulations. I believe, asa professional trader that
I should
be given the freedom to choose
the appropriate amount of leverage for my individual trading style and risk tolerance,
The leverage guidelines / rules should remain now as they are and NOT be changed further.
Further reductions seriously handcuff our freedoms to trade effectively. It will also most certainly
drive traders/investors to offshore opportunities where the freedoms make sense and allow for
sound
independent
trading and thinking. This will be a detriment to the US Forex market and anyone
involved.
I am asking you clearly and loudly, with respect, to NOT reduce or
change the leverage requirements/rules/guidelines any further than they
have already been changed!
Sincerely,
Forex Trader
