LBank Review

LBank Review by professional Forex trading experts the “” FX trading team, Finding out everything you need to know about the broker in this LBank Review.

LBank Review

LBank is a digital asset trading platform with a focus on Asian markets. It offers mostly crypto-to-crypto spot trading, but also works with fiat. At this exchange, you can find a lot of altcoins for trade, and they are relatively low-cost.

By the time of writing this review, LBank is ranked 26th by trading volume on CoinMarketCap.

LBank Advantages

Low-cost trading

The costs of trading at LBank are rather low when compared to the offers by other exchanges. With a 0.10% flat fee on all trades, this exchange is one of the cheapest. As a comparison, major Chinese exchange OKCoin charges up to 0.20% per trade.

Besides, deposits at LBank are free and withdrawals are charged with rather competitive fees: 0.01ETH, 0.1%QTUM.

Fiat supported, bank transfers accepted

LBank accepts real money transfers, in Chinese Yuan (CYN) and US dollars (USD). Besides, users can use directly their bank accounts to deposit or withdraw, which is convenient for many crypto investors.

Many altcoins available

At the time of writing of this review, there are over 40 cryptocurrency pairs traded at LBank, which is white an extensive product portfolio. At this exchange, you can trade in Bitcoin, Litecoin, Qtum, Bitcoin Cash, Zcash, NEO, Ethereum, Ethereum Classic, and some less popular coins like Nebulas, VeChain, Bodhi, YoYow and others. Currently, the most popular pair at LBank is QTUM/BTC, which constitutes almost 50% of its overall trading volume.

Sufficient liquidity

Trading volumes on many of the cryptocurrency pairs offered at LBank seem to be comparatively high, which is a good thing, as it means that the exchange has sufficient liquidity.

Nice trading platform

LBank’s web trading platform is nice and simple, but yet equipped with some advanced tools such as technical analysis indicators (MACD, KDJ, RSI, CCI) and a market depth window. Trading instruments are grouped into four categories: coins traded against BTC, ETH, QTUM, and BTS.

Anonymous trading

You can trade anonymously at LBank, provided that there is no fiat currency involved and up to certain limits. This policy is rather common among crypto-exchanges.

LBank Disadvantages

Lacking presentation

LBank does not mention a lot of details, when it comes to its trading conditions and company background, or they are available only in Chinese on the website. Methods of payment, bank wire fees as well as its company headquarters are not mentioned in an easily accessible place.

No margin trading

Like most exchanges, LBank does not provide leverage. If you’d rather trade on margin, other exchanges, like Chinese OKEX, offer such. Besides, you can trade Bitcoin speculatively with forex brokers, all of which provide leveraged trading.

No mobile apps

We consider the lack of mobile trading apps a weak side of an exchange, as an increasing number of investors prefer to use their smartphones for Bitcoin trading.

LBank is a cryptocurrency exchange with a focus mainly on the Chinese market. It offers low-cost trading in wide range of digital currencies and its platform is nice and easy to use. Besides, this exchange supports fiat currencies, anonymous trading and appears to have sufficient liquidity on most pairs.

While China is not strictly against Bitcoin and cryptrocurrencies altogether, the ban on ICOs has forced cryptocurrency exchanges to turn more globally and to (re)register outside the country. That being said, BTCC shut down its local division, while Huobi re-registered in the Seychelles and cut a lot of its functionality. LBank, on the other hand, seems to operate out of Hong Kong, as the company that owns and operates its website, Superchains Network Technology Co., Ltd., is registered there. Like most cryptoexchanges, it is not regulated by any authority, which brings in additional risk. If you’d rather trade with a licensed entity, you may be better off trading in Bitcoin with a regulated forex broker.

LBank Review Conclusion

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