The U.S. Commodity Futures Trading Commission (CFTC) recently proposed broad regulatory changes that include reducing the current leverage available to forex traders from 100:1 to 10:1.
So far, over 7,000 traders have expressed their strong opposition to the proposed leverage change.
Your opinion matters. The time to act is now!
The close for comments is Monday, March 22, 2010. Simply email your comments directly to the CFTC at: [email protected] and include 'Regulation of Retail Forex' in the subject line of your message.
You can also submit your comments by any of the following methods:
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.
HOW WOULD THE PROPOSED CHANGE AFFECT YOU?
Max leverage under current regulations
100:1 leverage (one percent)
1 lot (100,000)
Margin requirement: $1,000
Maximum leverage under proposed changes
10:1 leverage (10 percent)
1 lot (100,000)
Margin requirement: $10,000
I am a below-average-incomed person who trades with minimal capital, therefore this rule will definitely impact myself as I need to fork out more capital.
Means, only well-to-do people can afford to learn forex trading, but not everyone.
I hope to bring this to everyone's attention. Ideally, everyone feedbacks to [email protected] to oppose 10:1 leverage.
So far, over 7,000 traders have expressed their strong opposition to the proposed leverage change.
Your opinion matters. The time to act is now!
The close for comments is Monday, March 22, 2010. Simply email your comments directly to the CFTC at: [email protected] and include 'Regulation of Retail Forex' in the subject line of your message.
You can also submit your comments by any of the following methods:
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.
HOW WOULD THE PROPOSED CHANGE AFFECT YOU?
Max leverage under current regulations
100:1 leverage (one percent)
1 lot (100,000)
Margin requirement: $1,000
Maximum leverage under proposed changes
10:1 leverage (10 percent)
1 lot (100,000)
Margin requirement: $10,000
I am a below-average-incomed person who trades with minimal capital, therefore this rule will definitely impact myself as I need to fork out more capital.
Means, only well-to-do people can afford to learn forex trading, but not everyone.
I hope to bring this to everyone's attention. Ideally, everyone feedbacks to [email protected] to oppose 10:1 leverage.