Comment Text:
i0-001
COMMENT
CL-08915
From:
Sent:
To:
Subject:
Felipe Mora
Monday, March 22, 2010 9:55 PM
secretary
Regulation of Retail Forex
Dear sirs,
I am writing to oppose to your proposal to change Forex leverage to
i0:i.
First of all, I believe any person should have the freedom to select the best alternative suited to their own needs
and possibilities.
Forex is indeed a high risk investment, for which anybody who wants to use it has to learn and practice to
become a suitable and knowledgeable trader before investing any money. That is why brokers offer demo
platforms and learning courses. A person who decides to enter the market without the necessary preparation
will do it with a high or low leverage. (Maybe he does not even know what leverage is). A lower leverage will
not necessarily deter the ignorant trader from making bad decisions.
For the small investor, the 100:1 (or more) leverage is the only possibility of being part of this magnificent
trading instrument. Besides, since many other countries offer low leverages, regulating to 10:1 would make the
American brokers totally uncompetitive and all of the small investors, Americans and from many different
nationalities, would
"fly"
to other countries, taking all their money, which I believe is not insignificant.
American brokers are reliable and very well regulated, which makes them attractive to many traders across the
world.
I am including the identification number RIN 3038-AC61.
Thank you for taking in consideration my opinion.
I hope I can continue using American brokers in the future.
Regards,
Felipe Mora
Bogota,
Colombia
