Comment for Proposed Rule 75 FR 3281
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From:
James Soetanto
Organization(s):
Comment No:
961
Date:
1/20/2010
Comment Text:
i0-001
COMMENT
CL-00961
From:
Sent:
To:
Cc:
Subject:
James Soetanto
Wednesday, January 20, 2010 11:17 AM
secretary
[email protected]
Leverage 1:10 in forex ? this is bad
Dear CFTC,
are you going to use 1:10 leverage in forex retail ?
because this is not good, as you know we are a retail forex trader and we can't trade with this 1:10, because this
is not protect us, but this is will kill us (kill the forex customers / traders).
Hope you not use 1:10, or you would not help us to trade better.
we don't have a flexibility in our order positions with this very low leverage.. (1:100 is the bottom)
last time you avoid hedging, and it is very bad (a lot of the clients are move to Europe company), but now it is the
most bad things if you only allow 1:10.
You can see in many forex forums (search it in google or yahoo), all of them are not agree with this NFA/CFTC
rule. Better they move to Europe brokers with FSA Regulation.
Please consider this again, and please make the rule that most people agreed it, and not by some people.
(ask with most traders, and not with some traders that may be they don't have any experience with this)
you not make the situation become better with this 1:10.
1:10 is not suitable for retail forex trader.
Thank you
James
