Comment Text:
i0-001
COMMENT
CL-08501
From:
Sent:
To:
Subject:
Thomas W Baxter
Thursday, March 18, 2010 9:01 AM
secretary
Upcoming regulation changes
David Stawick,
Secretary, Commodity Futures Trading Commission
Mr. Stawick,
I am a former client of several forex-related firms and as a result am receiving several emails encouraging me to
email and dissuade you from implement your proposed changes.
In fact, I am writing you to voice my support. The current 100:1 leverage offered by firms is absolutely dangerous.
While the firms do state risks inherent to forex trading as required, they also advertise a very easily attainable lavish lifestyles
from currency trading. Also the lot sizes, including "mini", are well out of bounds of any sane trading plan especially when they
open accounts with such low minimums. I am a Canadian and have been trading several different markets since the 90s. I
tried this market for a few months and was appalled at the practices in various firms. I can't imagine how much hard earned
money goes to these companies. In these times, with people losing much of what they took for granted as secure, the
government needs to keep businesses on the up and up.
Thanks for coming up with a responsible plan and I only hope there are more in the offing.
Thomas Baxter
