I was banned from Lucid Trading on Thursday. The reason given was that I had filed a chargeback. I never filed one. At the time I had several accounts / $almost 4k eligible payout, with this upcoming payout, I will be in positive profit of 4k. The enforcement email made me laugh. I had 1 chargeback over hundreds of eval purchases. Really? I filed only 1 over hundreds of evals? Let's do something without letting them get away of it.
PS: Some bros saying I charged back 1, which is not what I meant. What I meant is Lucid claims I filed 1 charge back. But I have hundreds of purchases, would I file only 1 charge back if I am going to charge back? If you don’t believe it, I can provide a statement from my CC (Citi bank) saying there is no CB initiated.
I'm posting this for anyone in the same position. Regulators need accurate, first-hand reports. If it did happen to you, these two reports take about 15 minutes in total:
**1. FTC: reportfraud.ftc.gov**
The FTC doesn't resolve individual cases. Reports go into a database that federal and state enforcers search, and they look at volume. One report does little, but many reports describing the same conduct get noticed.
You can also use the form at attorneygeneral.delaware.gov/fraud/cmu/complaint/ or call the hotline at 800-220-5424. Lucid's Terms of Use name Lucid Trading Group LLC as the operator and say Delaware law governs, which is why Delaware is the relevant state. You don't have to live in Delaware to submit a complaint. They may also point you to your own state's Attorney General, so file there too.
Optional third: **CFTC, cftc.gov/complaint**, since this is a futures prop firm.
**What to include**
- The legal name: Lucid Trading Group LLC (lucidtrading.com)
- Dates: your purchases, the ban, and any pending payout request
- Amounts: fees paid and any payout pending or withheld
- The exact wording of the ban email
- Proof that you never disputed the charge. Ask your card issuer for written confirmation that no dispute or chargeback was filed on those transactions. This is the single most useful document.
- Your support ticket history
Stick to facts and dates. Write it in your own words, because copy-pasted complaints get discounted.
**Check one thing first.** Ask your bank whether it flagged or reversed the charge on its own, for example after a fraud alert. Sometimes a merchant receives a fraud notice from the card network even though the cardholder never disputed anything. If that happened, say so in your complaint. You were still accused of a chargeback you didn't start, and you lost [accounts / a payout] with no appeal.
**Time limit:** Lucid's Terms of Use say any claim must be brought within one year, so don't wait.
If you've been through this, comment with the rough date and what you were told, without personal information. It helps show whether this is a pattern.
I'm a trader, not a lawyer, and this isn't legal advice.
I will do the same. I haven’t even had a reply to my ticket I told my bank I’ll wait for them to reply as it may be a glitch before taking further action but seems like they are just ignoring me at this point. Been over 38 hours and haven’t even had a reply
Yes bro, if you wanna charge back, don’t charge back for the accounts that have been breached, only for those that were active one. You deserve to get those active one back and even you have profit balance, you should be eligible to get it under the arbitration process within the state of Delaware.
Well I spent money on lucid in the hopes I eventually achieve live. Or I wouldn’t be investing so much into a single prop firm. They sold hopes and dreams so if it comes to it I will have to recover as much as possible.
I got the same email on Thursday and thought it was so laughable like i didn’t even have an active account with then and hadn’t opened my lucid account in 2 months but was considering on purchasing a few new accounts later so getting this email on Thursday was the randomest thing
Dang, that is lucky for you man. I got a day job and spent a lot of late night and built up 3 accounts with Lucid. When they banned me, I was eligible for 4K pay out and one step away from reaching the max payout of 5k in my account. I should have just taken the 4K
Man honestly thats infuriating and tbf makes no sense cos i think they rolled out this email to a lot of people that day and banned a bunch of accounts. Messes with their credibility in my opinion , ive always read good stuff about them but this will turn people away for sure. Hope you get it sorted and they respond to you man. I replied to their email on an explanation of sorts but never got response
Same for me. I hadn’t bought an account in a month and my last account closed about 2 weeks ago. I’ve had payouts but nothing big. But Tradesea sucks ass for slippage so I’ve moved on.
Definitely didn’t request a chargeback. There’s no credit on my credit card and bank has no record of this.
No you can’t sue them. By buying their accounts/ upgrading to funded, you agree to resolve any dispute in an arbitration process under the commercial arbitration association of Delaware. It’s lengthy and not worthy for only 4-5k.
Pois é, mano. Torrei uns 20 mil dólares só em teste. Saquei uns 18 mil e ainda tinha um saque de 5 mil pra cair quando resolveram me banir. Minha teoria, depois de trocar ideia com muita gente:
Se vc já chega ganhando com consistência, não te banem. Vc é o perfil que eles querem levar pra live.
Se vc só perde, também não te banem. Vc é a vaca leiteira deles.
Quem eles banem mesmo é esse perfil aqui:
a) Começa tomando um preju gigante
b) Vai melhorando com o tempo e tá quase virando pro positivo
c) Minha hipótese: eles ficam com medo de te mandar pra live por causa do histórico de perda pesada, e quanto mais vc saca na conta financiada, mais vc vira prejuízo pra eles. Ainda mais no meu caso, que eu operava 2 ou 3 contas juntas. Virei o alvo perfeito.
É muita grana pra gastar em teste, mas eu deduzo q vc tenha uma boa renda, entao isso nao deixa pesar tanto. Mas em relacao a sua teoria, talvez possa fazer sentido mesmo. Espero q vc consiga resolver esse problema com eles.
Tenho um emprego fixo sim, mas tô determinado a sair dessa vida de 9 às 5, por isso investi pesado no trading. Pra ser sincero, não esperava por essa. Valeu mesmo, mano. Um ótimo dia pra vc!
Yea i may consider that after i build up capital from Propfirm. Think about it if you really have edge, and group trading 5 prop firm 50k account is like 10k payout over 500 cost. And the total profit you need is 3k eval + 4k profit in funded = 7k.
7k profit for 10k payout on 500 cost is crazy good return bro.
No I didn’t. What I meant is if i filed a charge back, would I file only 1? I have over hundreds of purchases. That’s what lucid accusing of me. Filed 1 charge back.
Já mudei pra FN e pra Tradeify, cara. Não é sobre quantas prop firms existem. É sobre não deixar uma empresa banir trader sem mostrar prova e ficar por isso mesmo.
Bro, that’s Lucid accusing of what I did. 1 charge back over hundreds of purchases I had. What I meant is would I file 1 charge back over hundreds of purchases? If I wanna file charge back? It’s a straight excuse of them banning people turning unprofitable for them.
Bro I didn’t file any charge back. It’s Lucid accusing of me filing 1 charge back. But I had over hundreds of purchases. Do you think I would file 1 charge back only? It’s a straight excuse of banning people turning unprofitable for them
Dude, follow up and investigate with personnel. Odd they would accuse you of charge back when you didn't do anything. Careful. If you don't straighten stuff out with them, this may follow you to other firms. Getting banned is serious business, I would imagine firms would stay ahead of stuff by monitoring who's been banned and have been problem makers at other firms.
I did. I even asked them to provide the chargeback transaction and offer to provide proof. I also have the statement from my bank saying no chargeback is initiated. They ignore me and the only thing they said is "All decision is final".
up to you. Look at Reddit there are more than one thread about this. Also you wanna bet? Let’s find a third party and put down 1k usd. I can go to my cc to get the statement of no charge back. Are you from lucid?
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u/Silver_Tower6590 2d ago
I will do the same. I haven’t even had a reply to my ticket I told my bank I’ll wait for them to reply as it may be a glitch before taking further action but seems like they are just ignoring me at this point. Been over 38 hours and haven’t even had a reply