Reading magnetic stripe on a credit/debit card with an EMV chip

The service code on the stripe data will notify you it is a chip capable card and you should use this to prompt for card insertion. US is using the first digit of 2 or 6 to signify a chip card.

Magnet Strip Card:

Service code values common in financial cards:

First digit

1: International interchange OK

2: International interchange, use IC (chip) where feasible

5: National interchange only except under bilateral agreement

6: National interchange only except under bilateral agreement, use IC (chip) where feasible

7: No interchange except under bilateral agreement (closed loop)

9: Test

No. There is no field on either track 1 or track 2 to indicate if the card is EMV capable. There is nothing that would prevent the card issuers from doing that but they haven't.

https://en.wikipedia.org/wiki/ISO/IEC_7813#Track_1

It is very possible that your merchant agreement with the major networks, prohibits you from requesting a customer use EMV chip even if you could identify them. It may sounds silly but the major credit card networks don't want anything which might disrupt the frequency that consumers use credit cards. This is the same reason banks have been dragging their feet on EMV so long that most of the third world has been using EMV regularly and US consumers are only getting EMV capable cards now. The merchant agreements are structured to ensure there is no friction that might reduce customer usage; "well that was a pain, maybe I should just pay by cash next time".