Complaints policy
Last updated: 08/05/23
To submit a complaint, please email complaints@lucidfinancialmarkets.com with the relevant details. Clearly explain the issue, providing supporting documents and information to help us understand the problem.
Response Timeframe
We prioritise complaint resolutions and aim to respond within 1-2 business days.
Essential Complaint Details
Please include the following in your email so we can best address your concerns:
- Name, company (if applicable),email address for contact purposes
- Clear description of the complaint and pertinent background
- Date and time when the incident occurred or was noticed
- Any substantiating documents, screenshots, evidence
- The resolution you seek for the issue
Review Process and Communication
We thoroughly investigate each complaint and provide a comprehensive response in line with our commitment to timely complaint resolution. Our reply will address your specific concerns and suggest options to resolve the matter where feasible.
The business will endeavor to answer the clients complaint within 15 business days following receipt of the complaint. However, in exceptional circumstances we may be required to perform additional investigations into your complaint. In these circumstances we will issue a holding response within 15 business day sand a final response will be issued to the client no later than 35 business days after the complaint has been received.
Elevating Issues to the Financial Ombudsman
If you remain dissatisfied with our proposed resolution, you can escalate your complaint to the UK's Financial Ombudsman Service. As an independent organization, they impartially facilitate dispute resolution between consumers and financial companies. You can contact them online at www.financial-ombudsman.org.uk or by calling 0800 023 4567. The Ombudsman will review your case and pursue a fair outcome.
Lucid Financial Markets is your first port of call for any queries or concerns, including complaints. We will handle these complaints inline with our complaints process.
We work with e-money and payments institution partners in providing you withour service, namely Currencycloud, Equals Connect.
These counterparties provide you with spot/forward tradingfacilities
These partners have certain obligations as regulated financial servicesinstitutions, including around complaints.
Lucid Financial Markets keeps them informed of the complaints we receive fromyou regarding the regulated payments and e-money services they ultimatelyprovide to you. They oversee how we handle complaints to ensure we do this tothe standard required under the regulations.
However, if for any reason your complaint regarding your payments and e-money services has not been acknowledged or dealt with by us, or if you have concerns about the way it has been handled, Currencycloud’s complaints information can be found here, and Equals Connect’s can be found here.
That is the beauty of working with us – you'll be able to consider yourself a foreign exchange expert once you've worked with us.
Currency exchange involves buying and selling one currency for another at a specific rate – the same way that you buy anything else. Of course, the rates fluctuate based on interest rates, inflation, world events, and even market sentiment.
If you don't already work in the industry, it can be confusing. That's why our number one aim is to demystify it for you, so you are never wondering about when or how to move your money – which means you can proceed with your transaction without feeling stressed or rushed at any point.
Working with us is vastly different from working with a bank. We don't have chatbots, call centre options, or email automation systems.
We don't have financial targets, as we measure ourselves purely on client satisfaction and our 5* Trustpilot reviews. And all that while getting your money transferred faster and at a better rate.
We take security extremely seriously. If we haven't hammered home the point enough, transferring your money securely and safely is our number one priority - not marginal rate differentiators.
All client funds are held separately to our company funds and placed in safeguarded accounts held with UK and EU banks. In the extremely unlikely event that we or one of our counterparties were to become insolvent, the funds held would form an asset pool where clients would be paid above our creditors.
The bank(s) or authorised credit institutions have no rights over funds in safeguarded accounts. Counterparties have no rights over our clients’ accounts, other than where specified in the Terms and Conditions.
We offer the works: spots, forwards, market orders, limit orders, and stop-loss orders.
But what's important to us isn't the technicalities of what we offer - it's that you come away feeling informed, confident and happy.
We prioritise the security and confidentiality of client funds and transactions via our trusted panel of counterparties who are categorised as Electronic Money Institutions (EMI).
All funds held on a client's behalf are subject to safeguarding - they are always protected and can be issued back should any of our counterparties go into administration or liquidation.
Unlike holding money in a standard bank account, all clients’ funds are protected, regardless of the value.