Comment Text:
i0-001
COMMENT
CL-08051
From:
Sent:
To:
Subject:
Christine
Tuesday, March 16, 2010 9:07 PM
secretary
Regulation of Retail Forex RIN 3038-AC61
The 10:1 leverage proposal by the CFTC for retail forex traders is a blatant disregard to traders' rights and their
freedom to choose how they wish to trade, and should be immediately prohibited. It is severely limiting to many
trading strategies. The amount of money that is invested in a trader's forex account is their own and they should
be allowed the option of how much risk they will take with it. They cannot lose any more money than the amount
they have already invested. A low leverage does not guarantee safety of account, in fact it may become a risk in
itself because the potential for profit becomes severely limited on a timescale, and many strategies would become
unuseable. It would essentially weed out all forex traders who wish to earn large returns on a relatively small
amount of money invested.
Considering these very obvious and valid concerns to such an unjust leverage restriction, one immediately
questions the true motives behind such a proposal. What is the CFTC REALLY trying to do to the average
American retail forex trader to severely disadvantage them in such a way in comparison to the rest of the world?
Regards,
A Forex Trader
