LeapRate Exclusive: Skrill suspending payouts to certain Forex brokers

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 email to fx brokers

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.

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