Comment for Proposed Rule 75 FR 3281
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From:
Steve Tafoya
Organization(s):
Comment No:
787
Date:
1/19/2010
Comment Text:
i0-001
COMMENT
CL-00787
From:
Sent:
To:
Subject:
Steve Tafoya
Tuesday, January 19, 2010 6:30 PM
secretary
Forex Changes - THANK YOU.
I applaud your efforts to
finally bring regulation to an unstable market. My marketing company has been approached by many self proclaimed experts in the Forex market. These
"gurus" are selling forex trading platforms that supposedly make the market easier to understand and trade. These gurus are making hundreds of
thousands dollars and in some cases millions of dollars by selling programs that do not work. Whether we are talking about robots that
supposedly automate the entire process or broker accounts that make it possible for people to deposit their life long earnings into an account
that "seasoned traders" invest on their behalf, the end result is almost always the same; the person investing the money loses. Let me go on the record
as saying that until your office begins to regulate the forex market by first reducing the leverage, more and more hard working Americans will continue to
lose their earnings to criminals operating under the guise of a "guru".
I implore you to make these changes sooner then later.
Thank you
-Steve Tafoya
