The window for submitting comments to the proposed CFTC regulation is closing on March 22nd. This is the last call to act against the proposed 10:1 leverage limitation. With traders, forex brokers, introducing brokers and also congressmen against this proposal, there’s some hope. Here are the details:
As we’ve seen in recent cases, the CFTC does a good job with fighting forex scams. It’s job is to protect traders. Limiting the leverage to 10:1 won’t protect traders – they’ll take their money and open accounts in other countries – some with better protection, and some without it.
If you disagree with the CFTC proposal to restrict leverage across the board to 10 to 1 leverage, you may submit your comments to
[email protected].
Include “Regulation of Retail Forex†in the subject line of the message and the identification number RIN 3038-AC61 in the body of the message.
Also, with the identification number RIN 3038-AC61, you can submit your comments by any of the
following methods:
- Fax: (202) 418-5521.
- Mail: Send to David Stawick, Secretary, Commodity Futures Trading Commission, 1155, 21st Street, N.W., Washington, DC 20581.
- Courier: Same as Mail above.
All comments received will be posted without change to http://www.cftc.gov, including any personal information provided.
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