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16Mar

CFTC 1:10 max leverage proposal

Old Posts

As you might know, the US CFTC (Commodities and Futures Trading Commission) has put out a proposal of introducing the maximal leverage of 1:10 instead of the current 1:100. If this proposal ever goes into effect, it will mean a serious harm to retail Forex overall and any Forex-related business in particular (just imagine what it’s like trading a live account with a 1:10 leverage). The change will concern absolutely all US-regulated brokers, not just the NFA members. Comments on the proposal are currently being accepted from the general public until March 22, 2010 at secretary@cftc.gov with the words “Regulation of Retail Forex” in the email’s subject line.

Retail traders are campaigning massively against the measure, with over 6,000 comments having been submitted to CFTC to date (heck, even a known Forex magnate Michael Greenberg sent one).

I therefore urge everyone reading my blog to join me in this effort and submit their comments to the above email address.

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