LBank is a cryptocurrency exchange that is based in Hong Kong but allows clients from around the globe to buy and sell multiple cryptocurrencies, such as Bitcoin, Bitcoin Cash, Litecoin, Tether, Ethereum, and more. The Exchange came into existence in 2016 and has since grown into an established digital asset exchange with over 4.8 million registered users and 1 billion US dollars average daily trading volume. They make available a selection of useful trading and learning tools and also provide a customer support team to assist traders. The minimum deposit required to operate a live account is just $1, while a low commission fee of 0.1% is charged on trades.
LBank Review Introduction
In this LBank review, we will take a look at some of the most important factors worth considering when choosing a forex broker for your online trading needs. This includes trading platforms, trading tools, research and education, account funding options, customer support, and broker regulation.
You may also wish to view my best forex brokers based on countless hours that I have spent researching and testing hundreds of brokers, all of which you can see in my forex broker reviews. You can also use my free trading tool to compare forex brokers including LBank.
LBank Platforms & Tools
The Exchange provides traders with the LBank trading platform, which is an in-house-developed trading platform that is built with an easy-to-use interface to make trading easier for both beginners and the more seasoned traders. The platform offers several advanced trading tools and features, including multiple technical analysis indicators and some drawing tools. The Exchange makes the LBank trading platform available as a WebTrader that can run directly on most modern web browsers, and a mobile app that is compatible with Android and iOS devices and can be freely downloaded from the respective app stores. The mobile trading app gives traders access to their trading accounts even while on the go, provided there is an internet connection.
Traders are provided with some trading APIs to ensure a hitch-free trading process.
LBank Research & Education
LBank provides traders with a good selection of learning materials that can enable them to make knowledgeable trading decisions. They include announcements, trading guides, an FAQ section, and market news that keeps traders in the know on how the financial markets work.
LBank Trading Accounts
The Exchange offers a single live trading account with a required minimum deposit of just $1. There are also demo accounts that new traders can use to practice their strategies.
LBank Account Funding
The Exchange processes all account deposit and withdrawal requests via bank wire transfers and cryptocurrency.
Some payment methods are not available in specific countries, while the time taken to process transactions depends on the payment method used.
LBank Customer Service
LBank provides traders with a knowledgeable client support team that is always available to respond to their general, technical, and account-based inquiries. They can be contacted via email, Live Chat, and social media.
There is no regulatory information on the Exchange’s website at the moment. However, regulation in cryptocurrency trading is still in infancy.
LBank Review Summary
LBank is a digital asset exchange that allows clients to buy and sell various cryptocurrencies using a proprietary trading platform that is available in web and mobile versions. The Exchange has a selection of useful trading and learning tools and also provides a client support team to assist traders. The minimum deposit required to operate a live account is $1, and a commission fee of 0.1% is charged on trades. However, the Exchange is not regulated by any known financial authority at the moment, which may not go well with some potential traders and investors.
It is worth mentioning that some of the trading products and services in this LBank review may differ or not be available to traders in some countries due to regulations. As brokers’ terms can change over time, please verify all information is up to date directly from the LBank broker website which you can visit by using the link below.
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