FxPro, one of the leading global Forex brokers headquartered in the UK with operations also in Cyprus and regulated by both the FCA-UK and CySEC just two years ago launched a branded debit card system for clients in which traders could withdrawal funds on. The Mastercard enabled debit card allowed clients global spending abilities and ATM cash withdrawals of funds instantly. The system was managed within the traders back office.
However, now the card is being discontinued by the brokerage. The FxPro Mastercard which launched in April in 2014 as reported by LeapRate, is set to go offline next month for all European clients, whilst it has already been disconnected for all non-EU clients. The FxPro Mastercard debit card was suspended due to regulatory changes relating to the issuing bank as per FxPro client support.
FxPro Mastercard in its current form will officially retire on April 15th for remaining EU clients, and email notices have already been sent out. As of now, clients can only use current cards they have to transfer any funds on their card back to their FxPro Vault.