In light of the trauma that hit the markets and consequently various financial institutions as a result of the swiss havoc, a suspension was placed on payouts from certain forex brokers’ accounts by skrill, an e-commerce business that allows payments and money transfers to be made through the Internet, with a focus on low-cost international money transfers regulated by FCA.
The decision to hold payouts over the weekend is meant as a safeguard, "considering the exposure (which) some of our FX merchants are facing" as a result of the swiss event which has already resulted in some brokers declaring insolvency. This was communicated to certain brokers via email, as skrill assured that a reevaluation of the situation will be carried out early next week. It is expected that it should resume business as usual as soon as the affected brokers can clarify to be safe and sound certified by their various regulators and adequately capitalized to continue business.
The Cyprus securities and exchange commission also stated that all Cyprus Investment Firms have until Tuesday January 20, 2015, to report if client funds have been compromised or whether business, liquidity or funds have been impacted.
For the time being, it appears that Skrill freezes Forex broker accounts as a precautionary measure.
