Comment Text:
i0-001
COMMENT
CL-08067
From:
Sent:
To:
Subject:
Dan Morganti
Tuesday, March 16, 2010 10:06 PM
secreta ry < secretary@ C FTC. g ov >
FW: Regulation of Retail Forex - leverage limitations
Dear Sir or Madam,
Regarding proposal RIN :~0:~8-AC61; I'm a non-affiliated, U.S. based retail forex trader and I am
STRONGLY OPPOSED to any reduction in the leverage offered by retail forex brokers. The only
thing this proposal would do is prevent traders with small accounts/limited trading funds from
participating in the market, it will do nothing to protect reckless traders. Irresponsible traders who
lose their money will still be irresponsible traders who lose their money, and they get what they
deserve. Don't punish all the small traders, by pushing them out of the market, because of the
actions of a few.
If the margin requirements increase by 10 times, as you're proposing, I'll be forced to move my
forex accounts to an off shore broker where they'll be potentially exposed to questionable
practices.
RIN :~0:~8-AC61 is a short sighted proposal with many potential unintended consequences.
So, again, please count me as one who is
very much opposed
to any reduction in leverage
offered by U.S. based retail forex brokers.
Thank you for your attention.
Dan Morganti
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