Comment Text:
i0-001
COMMENT
CL-08706
From:
Sent:
To:
Cc:
Subject:
Stuart
Saturday, March 20, 2010 4:35 PM
secretary
secretary
OPPO SE Regulation of Retail Forex/ID R1N 3038-AC61
Mr. David Stawick,
Secretary Commodity
Dear Mr. Stawick,
The purpose of this e-mail is
to
express my opposition
to
the proposed CFTC regulations
regarding retail Forex trading. As trader, I don't see how these regulations will protect the
interests of traders; on the contrary, these measures will cause the trader to lose money if there
were an unexpected move in the currency being traded. I fully agree that steps should be taken
to ensure fair trading but making sure the trader is aware of the risks of leveraged trading. I
also think that regulations are in place to make sure a trader, especially the new trader, is not
being taken advantage by unfair practices of a broker. This objective, I believe, is addressed by
the warning each broker is required to disclose to the trader. The proposed regulation does not
reflect that aim. On the contrary, the new CFTC regulation will leave the trader no choice but to
venture with foreign Forex brokers, where none of these regulations are in place, thus
defeating the purpose of regulating the Forex industry in our country.
Best regards,
Stuart Torres
ID RIN 3o38-AC61
