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Will the FCA Follow the UKGC and Ban Credit Cards for Retail FX and CFD?

There’s a big change taking place in the forex arena in the United Kingdom, and it’s causing a stir worldwide. It all started when the UK Gambling Commission (UKGC,) in an attempt to tone down the levels of excessive gambling, announced that starting the middle of April 2020, clients (in Britain) of gaming websites will no longer be able to use credit cards to fund their bets. While the gambling sector is its own separate entity, it is still linked with the British retail forex and contracts for difference (CFD) trading sectors. This may be a case of causation/correlation because as a result, there is much speculation that the Financial Conduct Authority (FCA) might follow suit and ban the usage of credit cards for retail forex and CFD.

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