Comment Text:
i0-001
COMMENT
CL-07762
From:
Sent:
To:
Cc:
Subject:
xiao weiqiang
Tuesday, March 16, 2010 2:40 AM
secretary
[email protected]
Regulation of Retail Forex
RIN 3038-AC61
From: xiao weiqiang in singapore, singapore
Hi Sir,
I am a retail trader who trades currencies. The proposed is highly restrictive to retail traders like us.
Leverage is a double edge sword like everyone knows. However, I strongly believe that the proposed 1:10 will not
therefore urge one to increase his or her capital. As such, the regulation may put more into danger by premature
stop loss and excessive risk.
Furthermore, a free market will not be possible because the market will once again be exclusive to the well-
capitalized rich again. Capitalist Democracy will soon become Democratic Plutocracy.
As much as regulations are all working towards a common good, I do believe that the council should take human
psychology and tendency into consideration.
Towards a better future
Weiqiang
Retail Forex Trader
Singapore
16 Mar 2010
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