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If you haven't read the article about the consequences of the new CFTC 10:1 leverage limits, please read it now...
https://www.forexpeacearmy.com/fore...f-cftc-does-say-goodbye-retail-forex-usa.html
If you have or are thinking of opening an account at any forex broker in the USA, I want you to write a letter.
If the USA does this, it is possible that other countries might do the same. Even if you aren't ever planning to open an account at a US forex broker, you can still tell them that this rule will ruin retail forex.
Here's the contact information and instructions from the article...
I'd like as many FPA members as possible to write in. Please share what you wrote in this thread. It may give other members ideas about what to write.
Don't copy other letters, but go ahead and use them for ideas to help you write your own.
If you've gotten emails from brokers or other forex groups, please click here and share them.
.
https://www.forexpeacearmy.com/fore...f-cftc-does-say-goodbye-retail-forex-usa.html
If you have or are thinking of opening an account at any forex broker in the USA, I want you to write a letter.
If the USA does this, it is possible that other countries might do the same. Even if you aren't ever planning to open an account at a US forex broker, you can still tell them that this rule will ruin retail forex.
Here's the contact information and instructions from the article...
What to do
It's not a law yet. There's still time to complaint and try to stop this.
Before I tell you where to complain, be aware: All comments sent to the CFTC on this topic will be very public. Ranting about government conspiracies won't help. Typing profanity IN ALL CAPS is very tempting in this case, but it won't help. Ten well worded individual letters will carry more weight than 100 copied and pasted letters or even a single petition with hundreds of signatures. I would be honored if you do quote some of this article and/or include a link to it in your complaint, but please also express your feelings in your own words too.
According to the rather lengthy (193 pages) document detailing these proposed rules, this is how to complain:
You may submit comments, identified by RIN 3038-AC61, by any of the following methods:
• Federal eRulemaking Portal: http://www.regulations.gov/search/index.jsp. Follow the instructions for submitting comments.
• E-mail: secretary@www.cftc.gov. Include “Regulation of Retail Forex” in the subject line of the message.
• 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 U.S. Commodity Futures Trading Commission, including any personal information provided.
Please, write something and submit it. Even a few sentences. Focus on what that 10:1 rule will do to your trading. Tell them how much money you may move to an offshore broker. Tell them they are costing jobs. Tell them the really good rules closing registration loopholes won't matter so much if there aren't any US forex businesses left to register.
I'd like as many FPA members as possible to write in. Please share what you wrote in this thread. It may give other members ideas about what to write.
Don't copy other letters, but go ahead and use them for ideas to help you write your own.
If you've gotten emails from brokers or other forex groups, please click here and share them.
.
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