Launched in 2016, LBank is an online digital currency exchange that is committed to creating a professional digital asset trading platform, providing secure, professional, and convenient digital asset exchange services. They also have advanced investment services and Staking services.
LBank Review, Pros & Cons
- A proprietary trading platform
- Educational resources
- A range of useful trading tools
- Unregulated exchange
- Cryptocurrency trading only
- No MetaTrader or cTrader platforms
- Limited account funding options
In this detailed LBank review, our online broker research team has covered some of the most important aspects for you to consider when choosing the best broker for your online trading needs.
Operating out of Hong Kong, LBank is a digital asset exchange that claims to have over 4.8 million registered users and 1 billion US dollars average daily trading volume. They provide traders with their proprietary trading platform for trading several digital assets, such as Bitcoin, Bitcoin Cash, Litecoin, Tether, Ethereum, and more. Traders also access a range of trading tools, educational resources, and a dedicated client support team.
There is no regulatory information on the Exchange’s website at the moment. Many experts and professionals would not trade with an unregulated broker as they cannot offer the same protection to investors that a regulated brokerage firm can. Please see our trading broker reviews for alternative regulated brokers.
The Exchange does not offer its services to residents of countries or jurisdictions where the use of such services would be contrary to local laws or regulations.
Some LBank features and products mentioned within this LBank review may not be available to traders from certain countries because of legal restrictions.
LBank provides traders with their proprietary trading platform, which is web based. The platform is very simple with an intuitively designed interface that is easy to use and navigate. Also, the platform incorporates some advanced tools and features with various technical analysis indicators, which enables traders to trade several cryptocurrencies. There is also the LBank mobile app, which is designed for Android and iOS devices and can be downloaded from the respective app stores.
LBank Trading Tools
Traders get to enjoy some trading tools, including trading APIs, to try and help to enhance their trading experience.
There is a selection of educational resources on the Exchange’s website, which are in place to try and improve clients’ trading expertise and to help ensure they make informed trading decisions. These include market news, announcements, trading guides, and an FAQ section.
LBank offers multiple digital assets, such as Bitcoin, Bitcoin Cash, Ethereum, Litecoin, and more.
LBank Accounts & Fees
Traders are allowed to open a single live trading account. Multiple trading accounts are not allowed for a single user.
As broker fees can vary and change, there may be additional fees that are not listed in this LBank review. It is imperative to ensure that you check and understand all of the latest information before you open an LBank broker account for online trading.
The Exchange’s client support team is always on hand to offer knowledgeable responses to clients’ inquiries via email, Live Chat, and social media.
LBank Deposit & Withdrawal
Deposit and withdrawal requests are processed using bank wire transfers and cryptocurrency.
LBank Account Opening
To open a live trading account, click on the ‘Sign Up Now’ tab at the top of the website and choose whether to sign up with an email or phone number. Then, enter the code sent to you and create a password.
It is imperative to ensure that when you are going through a broker application, you clearly read all of the broker’s terms, conditions, and policies. Only proceed if you fully understand and agree to them.
LBank is an online cryptocurrency exchange that makes it possible for traders to buy and sell various digital assets through an intuitive trading platform. There is also a dedicated support team on hand to assist traders. However, there is no regulatory information on the broker’s website at the moment. The lack of regulation may cause a concern for some potential clients of this particular broker.
Trading digital assets involves significant risk and can result in the loss of your invested capital. You should not invest more than you can afford to lose and should ensure that you fully understand the risks involved. Trading leveraged products may not be suitable for all investors. Before trading, please take into consideration your level of experience, investment objectives, and seek independent financial advice if necessary