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Comment for Proposed Rule 75 FR 3281

  • From: John Badavas
    Organization(s):

    Comment No: 8206
    Date: 3/17/2010

    Comment Text:

    i0-001
    COMMENT
    CL-08206
    From:
    Sent:
    To:
    Cc:
    Subject:
    John Badavas
    Wednesday, March 17, 2010 1:56 PM
    secretary

    j ohnbadavas@hotmail, com
    Regulation of Retail Forex
    RIN 3038-AC61
    From: John Badavas in San Francisco, CA
    The proposed rule by the CFTC requiring IB's to be guaranteed by one broker is wrong and should be rethought.
    Independent Introducing Brokers like Currensee Inc. (NFA #0403251) provide me with a very valuable service by matching
    my trading style with the right brokerage offering. Many of the products brokers offer vary widely regarding spreads, roll
    cost, customer service, trading platforms etc. Customers such as myself need an independent party to research and explain
    these differences. I would not want the recommendation of a captive IB that can only refer me to one brokerage offering no
    matter what the quality of the service.
    I do not understand who is being protected by this. Futures IB's have the option of independence or being guaranteed. If the
    CFTC regulates both industries why would there not be consistent regulations? Please change your stance on the matter.
    This mail was sent via IB Coalition http://ibcoalition.org/take-action/