Comment Text:
i0-001
COMMENT
CL-08172
From:
Sent:
To:
Cc:
Subject:
Daniel Worthy
Wednesday, March 17, 2010 11:38
AM
secretary
[email protected]
Regulation of Retail Forex
Dear secretary,
Trading in the Forex market is very risky, a risk every trader is made
aware of when they open a trading account.
Trying to artificially reduce this risk to traders by restricting
margins to 10:1 may seem a good idea in theory, but in practice I
believe it will cause many traders - new and old alike - simply to
open accounts with overseas brokers, which are not subject to these
margin limits, thereby avoiding this and future US regulations placed
upon the Forex market.
This would effectively reduce control, increase risk, and move
potential profits off-shore.
The negative impact of this move seems to far out-weight any positive benefits.
Sincerely,
Daniel Worthy
(402) 472-6630
RIN 3038-AC61
