Comment Text:
i0-001
COMMENT
CL-08016
From:
Sent:
To:
Subject:
Steven Stern
Tuesday, March 16, 2010 5:43 PM
secretary
Regulation of Retail Forex
I am writing this letter to give you my thoughts on the Forex Market.
I believe the Forex market is a complete scam for individual under capitalized small investors. Forex
markets should be traded only by large banks and institutions. I believe the smaller investor is under
capitalized for the maj ority.
90 to 95 percent of individuals who trade the Forex market will blow up their account either by lack of
education or by "bucket shops" or front running traders. So, instead of changing the rules for leverage
you should eliminate all under capitalized investors from entering the Forex markets. The majority of
Forex traders who trade in the U. S are either now or in the future will trade in the
UK or other European
brokers because of changes here in the U.S. The majority of Forex systems for sale on the Internet are
scams. Case in point was "Forex Made Easy" marketed years ago that touted how easy it is to make
money in Forex bu using green and red arrows for trade signals. The small time under capitalized
traders are no match for the highly sophisticated big banks and institutions that trade millions of dollars
a day. I believe Forex trading should be limited to the big banks and institutions. This is my opinion.
Thank you!!
Steven Stern
