Comment Text:
i0-001
COMMENT
CL-07868
From:
Sent:
To:
Subject:
Weiping Qian
Tuesday, March 16, 2010 12:51 PM
secretary < secreta ry@ C FTC. g ov >
objection on FX Leverage Change
Hi, Dear Sir or Madam:
I was shocked by the notice bellow. As an individual "retail FX trader", I really object the
proposed leverage change concerning retail FX trading.
Sincerely
Weiping Qian
in Canada
From: FXDD.com
Date: Fri, Mar 12, 2010 at 7:42 PM
Subject: Voice Your Opinion on the CFTC's Proposed Leverage Change
If you cannot read this message, please click here
Dear valued FXDD clients,
We wanted you to be aware that The U.S. Commodity Futures Trading Commission (CFTC) is 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: [email protected]
COMMENT
CL-07868
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:
(202)418-5521
Mail:
David Stawick, Secretary
Commodity Futures Trading Commission
1155 21st Street, N.W., Washington, DC 20581
Courier: 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
leve rage .**
An example of how the proposed regulatory restrictions would affect a major currency pair appears
below:
Maximum Leverage
under
Current
Regulations
Maximum Leverage
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 to 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.
FXDD 75 Park Place, 4th Floor, New York, NY 10007 USA
Toll-free in the US: 1-888-387-3933 or +1-212-791-3933. Or visit us on the web at:
http://www.fxdd.com
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