LeapRate's Daily Forex Industry Newsletter
Join now to receive first access to our EXCLUSIVE reports and updates.
Screenshot of a breaking news alert e-mail from Q2 2017
LeapRate Exclusive… Continuing our exclusive coverage of all the fallout from the unparalleled Swiss Franc volatility on Thursday, LeapRate has learned from a number of retail forex brokers that online payments company Skrill (formerly Moneybookers) has temporarily suspended payouts to certain retail forex brokers.
Skrill is keeping the accounts suspended over the weekend, and expects to reevaluate the situation early next week.
Skrill cited ‘the exposure [which] some of our FX merchants are facing as a result’ of the Swiss Franc move as the reason for its halting of withdrawals by the brokers.
The following email was received Friday by one forex broker:
Skrill has become a very important payments provider for retail forex brokers, and has a long list of forex brokers as clients.
We would assume that for all the forex brokers affected, their accounts with Skrill will be unfrozen once they can demonstrate that they remain well capitalized and in good standing with their various regulators.
Stay tuned to LeapRate as we continue to provide exclusive coverage of this story.