FX SOULTIONS: CFTC new rules proposal
Dear FX Solutions Customer,
Recently, the U.S. Commodity Futures Trading Commission (CFTC) announced that it is seeking public comment on proposed regulations concerning Forex trading. In part, the proposed regulations states:
“to collect security deposits in a minimum amount in order to prudentially limit the leverage available to their retail customers on such transactions at 10 to 1”
This means that leverage limits will be reduced from current limits of 100:1 to 10:1 for all Forex trading in the U.S. Below is an example of how the proposed leverage reduction would affect your Forex trading account.
FX Solutions is a proud registrant of the CFTC and member of the NFA and we will continue to cooperate with the CFTC and NFA in their efforts to eliminate fraud and deception within the Forex Market. However, we believe that you should be given the freedom to choose the appropriate amount of leverage for your individual trading style and risk tolerance.
If you feel strongly about the proposal, we urge you to submit your comments directly to the CFTC. In order to ensure that your voice is heard, please send your comments to the CFTC by March 22, 2010 and be sure to include “Regulation of Retail Forex” in the subject line and identification number RIN 3038-AC61 in the body of your message.
You can contact the CFTC through any of the following methods:
Email:
secretary@www.cftc.gov
Fax: (202) 418-5521
Mail: David Stawick,
Secretary, Commodity Futures Trading Commission,
1155 21st Street, NW,
Washington, DC 20581
Web: Federal eRulemaking Portal
FX Solutions is currently reviewing these proposed rules and along with the U.S. Forex Dealer Coalition will publish our opinion in the coming days. For more details on the proposed regulation visit the CFTC.
FX Solutions is a global Forex company which is committed to providing our clients with the utmost in transparency and client service. Our clients have the option to open accounts in either the UK or Australia which offer flexible leverage and are not impacted by CFTC rules. For information about FX Solutions regulated outside the United States, please visit Trading with Higher Leverage or contact Customer Service.
Sincerely,
FX Solutions