Comment Text:
i0-001
COMMENT
CL-00009
From:
Sent:
To:
Subject:
[email protected]
Thursday, January 14, 2010 10:20 AM
secretary
Public Comment Form
Below is the result of your feedback form. It was submitted by
([email protected]) on Thursday, January 14, 2010 at 10:20:09
commenter_subject: Forex Regulations
commenter_frdate: 1/13/10
commenter_frpage: Release: 5772-10
commenter_comments: In referance to release 5772-10 proposed
regulations for the retail Forex market I feel that
regulation of firms is needed but I feel that
limiting leverage to 10:1 is a bad idea. As with
all markets the majority of new investors lose
their money. Regulation is needed to help people
understand the risks such as risk disclosure.
Relizing this there are numerous FCMs that offset
their clients trades. This needs to be stopped.
Overall I feel that regulat in the retail forex
market in a similar fashion to how commodities and
futures are regulated is a good idea. Stopping
companies from trading against their clients is a
high priority issue that needs to be stopped. 10:1
leverage will make investors put more in the market
and more at risk making it a very bad idea the
current limit is more than enough.
Thank you
commenter_name: Bradford Smith
commenter_addressl: 2930 Day Ave
commenter_address2: Unit PHIN
commenter_city: Miami
commenter_state: FL
commenter_zip: 33133
commenter_phone: 3054967815
