Comment for Proposed Rule 75 FR 3281
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From:
Dan H
Organization(s):
Comment No:
883
Date:
1/19/2010
Comment Text:
i0-001
COMMENT
CL-00883
From:
Sent:
To:
Subject:
D H
Tuesday, January 19, 2010 11:59 PM
secretary
Regulation of Retail Forex to 10:1 and stop hedging rule..
To whom it may concern,
First you stop us retail traders to hedge our positions in Forex trading. Now you are trying to cut our ability leverage to 10:1
I am strongly opposed to the 10:1 leverage proposal by the CFTC. This regulation/requirement will drive many of the "smaller
guys" like us out of the markets entirely or to offshore (ie unregulated) brokers. Do you think going to offshore is less risky?!.
The liquidity provided by retail traders increase the efficiency of the markets. Removing them, or unfairly pricing them out of
the markets will result in increased price volatility overall and decrease the efficiency of the markets which is bad for everyone.
You are thus shooting yourself (and mainly us retail traders) in the foot!.
Please reconsider this proposal.
Thank you kindly,
Dan
