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NFA looks to ban Credit Card or PayPal deposits
The NFA (and those lobbying it) clearly looking to kill the Retail FX sector in the US. LeapRate Exclusive -- LeapRate has learned that the NFA (the self-regulatory body of the U.S. futures industry) has sent a Request-for-Comments letter to various industry members regarding its plan to ban the use of credit cards or "alternative funding mechanisms" such as PayPal to fund retail customer accounts. If implemented, the main industry hurt will be Retail FX. Retail FX firms see a majority of their customer deposits arrive via credit cards (and other electronic, near-instant payment solutions such as PayPal). The ... (full story)
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