LBank review

LBank lists 888 coins, which puts it at 10 out of 176 brands compared on coins listed. For context, bunq offers from 350, Vivid Plus from 300 and eToro from 150. Balances are held on a custodial basis by custodial.

Taker fees differ widely across the exchanges compared, with a median of 0.2% in this ranking and the highest rate reaching 5.5%. Most sit between 0.07% and 0.5%, and the rate that matters is the one on your own pair and tier.

Deposits go in by card, bank and sepa, so you can pick between several rails rather than relying on one. LBank is based in Virgin Islands, British and has run since 2015, and support runs on email, help centre and community once you are set up.

Proof of reserves is published, which lets you weigh reported holdings against balances, and the licences list National Futures Association, Organismo degli Agenti e dei Mediatori and Money Services Business (MSB) registration. The exchange is centralised by cex, so your counterparty is the platform itself rather than a protocol, and reserves are your main check on it.

The regulators listed are National Futures Association, Organismo degli Agenti e dei Mediatori and Money Services Business (MSB) registration, covering the US, Italy and Canada. A UK reader would be on an overseas platform rather than one regulated at home, which matters for how you fund and withdraw.

Derivatives are available, and the spot list runs to 888 coins. That puts spot trading and derivatives in the same place, though derivatives add leverage on top of the risk already carried by the coin you are trading.

Support runs on email, help centre and community, so help comes by email, the help centre or the community rather than a phone line or live chat. Worth knowing before you need it, especially if you trade outside normal working hours.

Losses are the norm on crypto: the median retail account gives up 70.15%, with the worst cases reaching 88%. Most accounts fall between 65.75% and 74.5%, so treat any LBank balance as money you can afford to hold.