Frequently Asked Questions About Our FX Services

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 with market beating payment speed and at competitive exchange 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.

A forward contract locks in today’s exchange rate for a transfer you’ll make in the future (up to 12 months ahead).

How it works:

1. Today: Lock GBP/EUR rate at 1.1500 for transfer in 6 months
2. Pay 10% deposit now (refundable if you don’t proceed)
3. In 6 months: Transfer at 1.1500 regardless of market rate
4. If market rate drops to 1.1200: You save money
5. If market rate rises to 1.1800: You still pay 1.1500 (protected budget)

Who uses them:

Expats with known future expenses (school fees, living costs)

Property buyers with completion 3-6 months away

Businesses hedging future supplier payments

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.

Lucid Financial Markets works with FCA-regulated banking partners including The Currency Cloud Limited (FRN: 900199), Equals Connect Limited (FRN: 671508), and Sciopay Ltd (FRN: 927951).

Your funds are:

• Held in safeguarded accounts (completely separate from operational funds)
• Protected under FCA Electronic Money Regulations 2011
• Never used for Lucid’s business operations
• Fully traceable with audit trail

We cannot access client funds for any purpose other than executing your specific transfer instruction.

Private Clients (£100k-£5m+ transfers):

• Overseas property buyers (France, Spain, Dubai, Portugal, Italy)
• Expats relocating or repatriating funds
• Pension transfers and inheritance distributions
• International investment management

Corporate Clients (£500k-£50m+ annual FX needs):

• Businesses with overseas suppliers or customers
• Companies hedging currency risk on margins
• International payroll (paying staff in multiple currencies)
• M&A transactions and cross-border investments

Partnerships:

• Wealth managers and financial advisors
• Solicitors (conveyancing and private client)
• Accountants with international clients
• Estate agents and property developers

Yes. If your property completes early or you need funds sooner, we can settle the forward contract before the maturity date at no penalty.

If the market has moved in your favor, you keep the gain. If it moved against you, you’re protected at your locked rate.

You’ll have a dedicated FX specialist assigned to you — a senior dealer who:

• Handles all your transfers personally
• Knows your situation and goals
• Provides proactive market updates
• Available 7 days a week (including evenings/weekends for urgent matters)
• Direct phone and email contact

No call centers, no ticket systems. You speak to the same person every time.

We specialise in property currency transfers for France, Spain, Dubai, Portugal, Italy, and other markets.

We provide:

• Forward contracts (lock rate between deposit and completion)
• Staged payment coordination (deposit, installments, completion)
• Direct transfers to notaries, solicitors, developers
• Market timing guidance (when to lock rates)
• Budget protection (no surprises from currency moves)

Typical savings: £10,000-£25,000 vs using your bank on a £500,000 property.

See our dedicated property pages: /clients/property-fx/

Yes, Lucid can help streamline your payments to overseas suppliers, making international transfers faster, simpler, and more cost-effective than using traditional banks.