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- Dec 24, 2006
So I got this message from my account today. Yes, I understand that he does not head the CFTC. But they are his goons and they take their marching orders fromhis administration, and now they are coming after retail forex.
There is a reason why Forex trades are highly leveraged, ie: to gain from the miniscule PIP moves. But
I guess I shouldn't expect him to know what he is doing. The guy is not an economist. He has never run a business. Up until recently, he was just an angry"community organizer."
Dear Customer,
The U.S. Commodity Futures Trading Commission (CFTC) announced on January 13, 2010 that it is seeking public comment on proposed regulations concerning retailforex trading.
As part of the proposed regulations, "leverage in retail forex customer accounts would be subject to a 10-to-1 limitation," which means 10:1 leveragewould be the maximum amount allowed for forex traders in the U.S.
HOW WOULD THE PROPOSED CHANGE AFFECT YOU?
[table][tr][th=""]
[/th] [/tr][tr][td] [/td] [td]Max leverage under current regulations[/td] [td]Max leverage under proposed changes[/td] [/tr][tr][td] [/td] [td]USD/JPY[/td] [td]USD/JPY[/td] [/tr][tr][td] [/td] [td]100:1 leverage (one percent)[/td] [td]10:1 leverage (10 percent)[/td] [/tr][tr][td] [/td] [td]1 lot (100,000)[/td] [td]1 lot (100,000)[/td] [/tr][tr][td] [/td] [td]Margin requirement: $1,000[/td] [td]Margin requirement: $10,000[/td] [/tr][tr][td]
[/td] [/tr][/table]
We believe that all traders should have the right to choose the amount of leverage that is appropriate for his/her risk appetite, and that this basic principleof 'choice' is being threatened by the proposed CFTC regulations.
Should you feel strongly about the proposal, there is still time for you to help determine the outcome of these proposed regulations. You can make an impact bysending comments directly to the CFTC at: [email protected].
Please include 'Regulation of Retail Forex' in the subject line of your message and the identification number
RIN 3038-AC61 in the body of the message.
You can also submit your comments by any of the following methods (include above ID number):
In the meantime, we encourage you to voice your opinions to the CFTC and your local U.S. representative.
As always, we thank you for your business.
There is a reason why Forex trades are highly leveraged, ie: to gain from the miniscule PIP moves. But
I guess I shouldn't expect him to know what he is doing. The guy is not an economist. He has never run a business. Up until recently, he was just an angry"community organizer."
Dear Customer,
The U.S. Commodity Futures Trading Commission (CFTC) announced on January 13, 2010 that it is seeking public comment on proposed regulations concerning retailforex trading.
As part of the proposed regulations, "leverage in retail forex customer accounts would be subject to a 10-to-1 limitation," which means 10:1 leveragewould be the maximum amount allowed for forex traders in the U.S.
HOW WOULD THE PROPOSED CHANGE AFFECT YOU?
[table][tr][th=""]
We believe that all traders should have the right to choose the amount of leverage that is appropriate for his/her risk appetite, and that this basic principleof 'choice' is being threatened by the proposed CFTC regulations.
Should you feel strongly about the proposal, there is still time for you to help determine the outcome of these proposed regulations. You can make an impact bysending comments directly to the CFTC at: [email protected].
Please include 'Regulation of Retail Forex' in the subject line of your message and the identification number
RIN 3038-AC61 in the body of the message.
You can also submit your comments by any of the following methods (include above ID number):
- Fax: (202) 418-5521
- Mail: David Stawick, Secretary
Commodity Futures Trading Commission
1155 21st Street, N.W.,
Washington, DC 20581 - Courier: Use the same as mail above.
In the meantime, we encourage you to voice your opinions to the CFTC and your local U.S. representative.
As always, we thank you for your business.
