The absurd proposal by the CFTC to limit leverage in forex to 1:10 is causing anger. Here’s how you act to stop it! The CFTC is beginning to regulate American forex trading. In their initial proposal, there’s an idea to limit leverage to 1:10. High leverage is one of the key characteristics of forex trading. If this proposal is implemented, it will practically kill the American forex industry, as traders will move their business elsewhere. So, here’s what you can do. I’m quoting the information from a fresh blog post from FXStreet’s CEO, Fransesc Riverola. Thanks Fransesc! If you disagree with the CFTC proposal to restrict leverage across the board to 10 to 1 leverage, you may submit your comments to [email protected]. Include “Regulation of Retail Forex“ in the subject line of the message and the identification number RIN 3038-AC61 in the body of the message. Also, with the identification number RIN 3038-AC61, you can submit your comments by any of the following methods: 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 http://www.cftc.gov, including any personal information provided. Good luck to us all. Like this story? Vote for it on Forex Factory. More: In a poll that I ran in March, the most popular leverage is 1:100. In the UK, the max leverage is 1:200. A nice analysis by Michael Greenberg on the subject. The FXDC (Foreign Exchange Dealers Coalition has also petitioned against this move. Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam Other Forex Stuff share Read Next Forex Links for the Weekend Yohay Elam 12 years The absurd proposal by the CFTC to limit leverage in forex to 1:10 is causing anger. Here's how you act to stop it! The CFTC is beginning to regulate American forex trading. In their initial proposal, there's an idea to limit leverage to 1:10. High leverage is one of the key characteristics of forex trading. If this proposal is implemented, it will practically kill the American forex industry, as traders will move their business elsewhere. So, here's what you can do. I'm quoting the information from a fresh blog post from FXStreet's CEO, Fransesc Riverola. Thanks Fransesc! If you disagree… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
