The credit card giants MasterCard and VISA are taking measures against unregulated brokers by classifying all transactions to forex, binary, CFD and crypto brokers, as well as ICOs as high risk.
MasterCard has already implemented the new rules, while VISA is expected to follow suit in December.
For the customer of VISA and MasterCard the new rules mean that they will successfully be able to file for a charge back within 540 days. Currently charge backs are only available within the first 180 days after the deposit was made.
Re: MasterCard and VISA crack down on offshore forex brokers
2The e-payment provider Skrill is the next to crack down on unregulated forex and binary options brokers operating in the EU.
Skrill has reportedly required all brokers offering their services in the EU to provide a copy of their license. If a company fails to submit the additional documentation required within 24 hours, its merchant account will be restricted regionally.
Skrill has reportedly required all brokers offering their services in the EU to provide a copy of their license. If a company fails to submit the additional documentation required within 24 hours, its merchant account will be restricted regionally.