jhmalnowski
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Dont forget to write you congressman and senators
Dear Senator Hutchison
(also sent to Senator Cornyn or Rep. Joe Barton)
I would like to express may concern over the proposed rule change being considered by the Commodity Futures Trading Commission that would decrease the Forex leverage allowance from 100:1 to 10:1. Because foreign currency values change in tenths and hundredths of a percent, this change in leverage would simply eliminate any benefit or incentive for individual investors to be involved in Forex trading.
While the change in regulation is supposedly being considered to protect uninformed investors; this rule change would have the unintended consequence of harming the same people.
As you are probably aware, Forex trading has become both a primary and secondary form of income for countless thousands of average Americans. Forex trading has been described by some as the "ultimate home business." The explosion of Forex trading in the US has lead to the formation of many brokerages, investment services and software developers to meet the needs of these investors and business people. These individual investors are also helping drive the economy of our country through the use of the aforementioned services are well as home office equipment, like computers, printers and high speed internet service.
The change in leverage that is being considered would jeopardize all of this with the stroke of a pen; leading many brokers to move their services out of the United States and to foreign countries where US investors would be in even more risk.
This of course, would lead many employed by the brokerages to lose their livelihoods as well; as more US jobs will be shipped overseas.
Those of us who are involved in the Forex market as investors understand the power of leverage; both for good and for harm. But, it is a risk that we are willing to endure for the potential profits that are available to us through the Forex.
I would like to ask if you would consider contacting the CFTC secretary David Stawick and tell them that you are aware of this proposed rule change and that your constituents are opposed to this change.
Sincerely, your name here
Dear Senator Hutchison
(also sent to Senator Cornyn or Rep. Joe Barton)
I would like to express may concern over the proposed rule change being considered by the Commodity Futures Trading Commission that would decrease the Forex leverage allowance from 100:1 to 10:1. Because foreign currency values change in tenths and hundredths of a percent, this change in leverage would simply eliminate any benefit or incentive for individual investors to be involved in Forex trading.
While the change in regulation is supposedly being considered to protect uninformed investors; this rule change would have the unintended consequence of harming the same people.
As you are probably aware, Forex trading has become both a primary and secondary form of income for countless thousands of average Americans. Forex trading has been described by some as the "ultimate home business." The explosion of Forex trading in the US has lead to the formation of many brokerages, investment services and software developers to meet the needs of these investors and business people. These individual investors are also helping drive the economy of our country through the use of the aforementioned services are well as home office equipment, like computers, printers and high speed internet service.
The change in leverage that is being considered would jeopardize all of this with the stroke of a pen; leading many brokers to move their services out of the United States and to foreign countries where US investors would be in even more risk.
This of course, would lead many employed by the brokerages to lose their livelihoods as well; as more US jobs will be shipped overseas.
Those of us who are involved in the Forex market as investors understand the power of leverage; both for good and for harm. But, it is a risk that we are willing to endure for the potential profits that are available to us through the Forex.
I would like to ask if you would consider contacting the CFTC secretary David Stawick and tell them that you are aware of this proposed rule change and that your constituents are opposed to this change.
Sincerely, your name here