Comment Text:
i0-001
COMMENT
CL-08100
From:
Sent:
To:
Subject:
Ambur Ventures
Wednesday, March 17, 2010 12:43 AM
secretary
'Regulation of Retail Forex'
Dear CFTC Regulator,
Subject: RIN 3038-AC61
I have reviewed and support 99.9% of the proposed CFTC rules and also support the original Farm Bill in 2008 that
allowed the CFTC more authority over FX dealers. I particularly like where all brokers have required all money
managers and all solicitors to be registered with the NFA which instills a safe and well regulated trading environment
I stand behind the belief that the retail trader should be given the freedom and right to choose the amount of
leverage that is appropriate for our individual desired risk. This basic principle of 'choice' is in jeopardy by the
proposed CFTC regulations. Since the CFTC was created with a mandate that would prohibit it from creating any anti
competitive rules and regulations in regards to its members. As we can see, 10:1 leverage would do just that.
This change would create an anti-competitive environment for Forex brokers in regards to competition with banks
not regulated by the CFTC. In addition, 10:1 leverage would also allow the entire United States Forex community to
be uncompetitive with global competitors. In fact why is it that Futures can offer a leverage of greater than 10:1
while retail FX traders cannot ? And why is it that futures offer infinite risk and has lesser regulations than FX
traders - whose maximum risk is limited to the amount deposited - no more!
As a proud American, we want the best for our FX traders and want to retain jobs and this industry in the US and
hope it does not go outside the US. We hope you'll will consider thisrequest and retain the 100:1 leverage
requirements.
Thank you for your time.
Too busy to be sad,
too positive to be doubtful,
too optimistic to be fearful
and too determined to be defeated
U.S. Government Required Disclaimer - Commodity Futures Trading Commission Futures and Options trading has
large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them
in order to invest in the futures and options markets. Don't trade with money you can't afford to lose. This is neither
a solicitation nor an offer to Buy/Sell futures or options. No representation is being made that any account will or is
likely to achieve profits or losses similar to those discussed on this web site. The past performance of any trading
system or methodology is not necessarily indicative of future results.
CFTC RULE 4.41 - HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE
AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE
THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE
IMPACT, IF ANY, OF CERTAIN MARKET FACTORS.
