Comment Text:
i0-001
COMMENT
CL-07594
From:
Sent:
To:
Subject:
Kevin Nguyen
Monday, March 15, 2010 7:19 AM
secretary ; [email protected]
Regulation of Retail Forex
RIN 3038-AC61
Dear Sirs/Madam,
First of all, I would like to thank CFTC for its activities to protect Forex traders/investors and its care for the stable
market development is appreciated.
Regarding the proposed regulations on Maximum leverage 10:1 (10%) I have the following opinions:
The leverage 10:1 will reduce the trading risk of traders, but it is too low enough for effective business. However,
the traders who intentionally want to take risk in Forex trading will be better than anyone to know what he is going
to do. He understands the high risk of high leverage and the high opportunities that high leverage offers to him, so
taking which leverage should be free for any trader. It will let the freedom for free people to take risk and want to
risk in the free business world. Hence, CFTC should focus on more revealing illegal and fraudulent tips and tricks of
the Retail Forex Providers, that facilitates the sustainable development of Retail Forex market and respect personal
freedom.
In my opinion, leverage 100:1 is reasonable. However, to protect freedom in offering business conditions and doing
business, the maximum leverage may be left as free to choose for the traders.
Yours sincerely,
Kevin Nguyen
On 3/13/2010 6:53 AM, FXDD.com wrote:
If you cannot read this message, please click ..h..e.[.e.
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Dear valued FXDD clients,
We wanted you to be aware that The U.S. Commodity Futures Trading Commission (CFTC) isi0-001
COMMENT
CL-07594
seeking public comment on proposed regulations concerning retail Forex trading.
PLEASE NOTE: FXDD Malta customers will not be affected by these proposed changes, but
are still encouraged to voice your opinions.
According to the CFTC, "leverage in retail Forex
customer accounts would be subject to
a
10-to-1 limitation,"
which means
10:1
leverage would be the maximum amount
allowed for Forex traders in the
U.S.
VOICE YOUR OPINION NOW
Should you feel strongly about the proposal, there is still
time for you to help determine the
outcome.
The deadline for public comment is March 22, 2010. Make your opinion heard by
sending comments directly to the CFTC at: secreta~ (please CC:
.c..~.c..f..e..e...d...b..a...c..k. @~..d..d..&..o...m..)
Please include
'Regulation of
Retail Forex' in the subject line of your message and the
following identification number in the body of the message: RIN 3038-AC61.
You can also submit your comments by any of the following methods (include above ID number)
Fax:
Mail:
Courier:
(202)418-5521
David Stawick, Secretary
Commodity Futures Trading Commission
1155 21st Street, N.W., Washington, DC 20581
Use the same address as mail above.
**All of your comments, no matter how short, will have an impact on the outcome of the
proposed rule change so do not hesitate to send a brief email objecting to the
reduction in leverage.**
An example of how the proposed regulatory restrictions would affect a major currency pair
appears below:
Maximum
Leverage
Maximum Leverage
under
Current
Regulations
under
Proposed
Regulations
USD/JPY
USD/JPY
1 lot (100,000)
1 lot (100,000)
100:1 leverage (one percent)
10:1 leverage (10
percent)
Margin requirement: $1,000
Margin requirement:
$10,000
Learn more about the CFTC's proposed leverage changes and how they may affect your
trading by clicking here.
In the meantime, we encourage you to voice your opinions to the
CFTC and your local U.S. representative.
Best Regards,
FXDD Team
DISCLAIMER: Trading in the Foreign Exchange market involves a significant and substantial risk of loss and may not be
suitable for everyone. You should carefully consider whether trading is suitable for you in light of your age, income, personal
circumstances, trading knowledge, and financial resources. Only true discretionary income should be used for trading in the
Foreign Exchange market. Any opinion, market analysis or other information of any kind contained in this email is subject toi0-001
COMMENT
CL-07594
change at any time. Nothing in this email should be construed as a solicitation to trade in the Foreign Exchange market. If
you are considering trading in the Foreign Exchange market before you trade make sure you understand how the spot market
operates, how FXDD is compensated, understand FXDD's trading policy and rules and be thoroughly familiar with the
operation of and the limitations of the platform on which you are going to trade.
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