Comment for Proposed Rule 75 FR 3281
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From:
Stan James
Organization(s):
Comment No:
942
Date:
1/20/2010
Comment Text:
i0-001
COMMENT
CL-00942
From:
Sent:
To:
Subject:
Stan
Wednesday, January 20, 2010 9:53 AM
secretary
Currency Trading.
It has come to my notice that you are contemplating reducing the Forex
leverage to 10:1
I have currency trading accounts at a number of USA based brokerages and
would immediately cancel these and move to European based firms, that
would not have or ever be allowed such draconian measures. If your
intension is to preserve new traders(novice) then I suggest a scaled
approach. $100 - $500 10:1 $501-$1000 20:1 $1001 to $2500 30:1
$2501 to $5000 50:1 above $5000 100:1. When they get up to this size of
account they should be well versed at trading Forex. Why should I be
penalized for all the hard work I have put in to learn my trade. Unless your
aim is to cost the USA 1000,s of Jobs because that is the result of one shoe
fits all approach.
Regards Stan James uk resident.
