I posted a pretty long discussion on January 19, 2010 about the new proposed regulations that the CFTC is considering imposing on the retail forex market in the US. For the most part, I feel that these regulations are necessary to clean up the forex market. However, the part of the proposal that reduces retail forex leverage to 10:1 will kill the retail forex industry in the US, in my opinion. If this leverage requirement is put into place, there will be no more of a market to regulate because traders will move their funds offshore.
Anyway, here is a video on what you can do to get your voice heard. There is also some additional information from Rob Booker on why this is happening, what the effects will be and what you can do about it. Do NOT delay because the deadline for public opinion is March 22, 2010. Be sure to email the CFTC or your Congressperson immediately after watching this video because we have to put a stop to this!
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