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10 to 1 leverage suggestion by the CFTC - a death to the US forex market?

Elkart
Elkart
Feb 17 2010 at 12:46
941 posts
Gentleman Jim
GJim
Feb 25 2010 at 12:55
14 posts

michigansurveys posted:
    Everyone thinks that they get thousands of emails every day. Did you send one? Do you know anyone that has? They cannot get those thousands of emails if you do not send them. However naive an idea it may be, they are supposed to catalog and post each one here https://www.cftc.gov/lawandregulation/federalregister/federalregistercomments/2010/10-001.html Right now I only count 69 comments. If you really think it is a bad idea, take two minutes and send an email. It won't cost you anything to send it, but not sending in your comments may cost you a great deal more down the road.


Thanks for posting that link.

I did check, and my comment is there - page 412 (of 538) of the comments posted on Jan 20th.

G'Jim c):{-

bizWiz
Feb 25 2010 at 13:11
397 posts

GJim posted:
    
Thanks for posting that link.

I did check, and my comment is there - page 412 (of 538) of the comments posted on Jan 20th.

G'Jim c):{-


you've really searched for you comment among the 5000'ish comments there? must have taken you a couple of hours.. 😱

interesting to see such a low number of mails they've received..i would expect at least 50,000 mails..maybe they haven't published them all? or might it be that most traders don't care if this rule goes through or not?

Sleep is for the weak.
pc8multifx (pc8multifx)
Feb 25 2010 at 13:23
879 posts
I guess a lot of affected USA traders left already after the 100:1 leverage downgrade by NFA. So only the desperate rest of the gang wrote them. Adios America!
BTW Even not be punished by the new rules, I'm a free😝 European citizen, I wrote them twice and they published it as well

Gentleman Jim
GJim
Feb 25 2010 at 13:37
14 posts

biz0101 posted:
    
GJim posted:
    
Thanks for posting that link.

I did check, and my comment is there - page 412 (of 538) of the comments posted on Jan 20th.

G'Jim c):{-


you've really searched for you comment among the 5000'ish comments there? must have taken you a couple of hours.. 😱

interesting to see such a low number of mails they've received..i would expect at least 50,000 mails..maybe they haven't published them all? or might it be that most traders don't care if this rule goes through or not?


Didn't take very long at all. I knew which day that I sent my comment; just opened the document for that day and then did a search for my name.

BTW, not that it will probably do any good, but I'm going to send the same comment to my two senators and our lone congresswoman - not that I have any respect for any of the three, but just as one more 'dog in the fight'.

G'Jim c):{-

pipdetector
Feb 25 2010 at 14:55
78 posts
It looks that some brokers saw the writ on the wall. FXDD is moving their European clients accounts to FXDD Malta...

They started to prepare for it in December 2009.

Lion Asset Management (WhyLose)
Mar 08 2010 at 21:32
102 posts
FXDD emailed me about that last week. Malta is a secure jurisdiction to be registered in. Their MFSA is based on the UK FSA model.

Time is more valuable than money. You can get more money, but you cannot get more time.
pipdetector
Mar 08 2010 at 22:05
78 posts
Let's hope that they will be as reliable as FXDD New York...

Lion Asset Management (WhyLose)
Mar 08 2010 at 22:11
102 posts
If they carry on like FXDD New York IMO they'll be closed pretty soon by the MFSA. Even though I had an account with them which has now been moved to Malta I don't rate them highly but I can now be on their doorstep within 30 minutes most of the year. And the MFSA's complaint desk even quicker!

Time is more valuable than money. You can get more money, but you cannot get more time.
Elkart
Elkart
Mar 08 2010 at 23:19
941 posts
Guys the CFTC ruling will apply to liquidity providers, of which at least half is US. There no hiding in Europe or elsewhere.The CFTCF does this we're all going to be affected.

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