Comment Text:
i0-001
COMMENT
CL-08132
From:
Sent:
To:
Subject:
MiaoDavid < [email protected]>
Wednesday, March 17, 2010 4:15 AM
secretary
Regulation of Retail Forex
Dear Sir/Mis.,
I am a forex trader in China and I have been using US brokers for almost 7 years and very satisfied.
Compared with other countries or district brokers, the aspects of US counterparties appealing me,
which I thinkapply to other countries clients also, are:
1, Strong and respectable regulation bodies,
2, Sound and sophisticated financial infrastructure,
3, US as a country have a tradition for the protection of international investors,
4, US based forex firms are generaly more financially solid and well-managed.
Regarding your recently regulation proposal, I fully agree to enhance industry oversight, but I don"t
like put any restrictions on leverage,because the risk is not comes from the leverage itsself, I think.
Otherwise,Leverage is a very important tool for us seeking financialfreedom as your Amercian, and
lowering leverage dramatically like this will not only hurt ourself clients
feeling but also drive us to other countries' (ie. unregulated) brokers despite above advantage. This
isnot a win2win situation, it's a Iose21ose situation that you probably wouldn't expected.
Please reconsider your proposal.
Regards,
