Comment Text:
i0-001
COMMENT
CL-07639
From:
Sent:
To:
Subject:
German Ciuba
Monday, March 15, 2010 1:35 PM
secretary
[email protected]
Regulation of Retail Forex
re: RIN 3038-AC61
Dear Sir:
I am concerned about the proposal to limit leverage in retail forex accounts to 10-to-l.
This would be very harmful to small individual forex traders, while not affecting large
speculators. The practical result would be to drive traders and their money to offshore
brokerages instead of U.S. domiciled and regulated firms. It would be deleterious both
to individuals and American brokers.
Forex traders understand or quickly learn the benefits and pitfalls of leverage.
Leverage of 100:1 or greater enables small traders to participate in the opportunities
offered by the world's largest trading market.
Please do not deprive American investors of this possibility. You would be harming us,
not helping us.
German Ciuba
