Comment Text:
i0-001
COMMENT
CL-08138
From:
Sent:
To:
Cc:
Subject:
Besarion Lordkipanidze
Wednesday, March 17, 2010 6:48 AM
secretary
[email protected]
Regulation of Retail Forex - Rule ID: RIN 3038-AC61
To: David Stawick, Secretary
Commodity Futures Trading Commission
1155 21st Street, NW
Washington, DC 20581
Dear Mr. Stawick,
I welcome any regulatory activity that protects an individual investor and makes FOREX marketplace safe and fair.
However from a trader's perspective proposed rule RIN 3038-AC61 to limit leverage to 1:10 does not make it
efficient.
I strongly believe that the proposed regulation is unjustified. FX traders and investors should have their own choice
how to leverage their trading activities but with a proposed maximum 1:10 leverage limit they will lack flexibility in
trading and will have very limited options which will put their trading at more risk.
To get a better than 1:10 leverage US based FX traders and investors will be forced to take away their business
from solid and trustworthy US based FX firms to overseas where they will not have the same protection as in the US
and where they can be exposed to a counter-party risk. I personally will not feel myself comfortable to wire my
funds to a foreign country but if my trading suffers in the first place because of the proposed maximum 1 : 10
leverage limit I will be forced to look for a foreign FX dealer.
Please reconsider the maximum leverage limit of the proposed rule RIN 3038-AC61.
Thank you for your time and consideration,
Besarion Lordkipanidze
269 Ocean Pkwy, Apt 1C
Brooklyn, NY 11218
Phone: (347) 429 2985
[email protected]
