Comment Text:
i0-001
COMMENT
CL-08294
From:
Sent:
To:
Subject:
Ronda Jordan
Wednesday, March 17, 2010 7:30 PM
secretary
Proposed CFTC Regulation of Forex
Dear sirs,
I am sure by this point you have had an overwhelming response from the forex trading community. I, as one,
would like to add my voice of dissent to the proposed eel0 to 1 leverage rule of retail forex in ID #RIN 3038-
AC61.
There are some very real consequences if this was to pass, such as funded accounts immediately leaving the
U.S. for offshore accounts. I would expect this to cause forex fraud to worsen since there will be unregulated
dealers from all over the world which will thrive if this occurs. Also, I am concerned about the thousands of white
collar forex jobs that require advanced education that will be eliminated or move offshore.
I have been trading retail forex for 4 ½ years. There has been hours of time and money invested in my career. I
have developed excellent working relationships with various U.S. brokers that do an excellent job. Without doubt,
I much prefer to keep my money in the U.S.; however, will not hesitate to transfer my funds to Great Britain where
their regulating bodies understand forex and do not put such restrictions upon retail traders.
I appreciate your time in hearing my concerns and can only hope you will drop this proposed regulation and let
the retail forex thrive in the U.S.
Thank you,
Ronda Jordan
