Comment Text:
i0-001
COMMENT
CL-07578
From:
Sent:
To:
Subject:
Tan Tan
Monday, March 15, 2010 3:57 AM
secretary
Regulation of Retail Forex
Hi.
When the leverage is changed to 10:1, many Americans and those people in the world using America Brokerages
will be forced to quit forex-trading, since they can't afford with more capital. There are many average-incomed
people who trade with minimal winnings, responsibility and knowledge. I am one of such people.
Consequences are:
1. Fewer participants.
2 Job losses due to closure of banks and brokerage firms etc.
3. The rich-poor income gap widens, which may lead to social problems
etc. (since only the big-capitalised rich people trade forex, whereas the
average-incomed people is forced out)
A huge market of many participants (strong liquidity) is needed than a
small market of fewer participants.
Yours Sincerely
Minister Tan
