LBank Review

LBank was founded in 2015 by Eric He and is registered in the British Virgin Islands, with reported operational ties to Hong Kong. It does not hold a major tier-one license from regulators like the FCA or ASIC. Instead, LBank has picked up a patchwork of narrower registrations, including US state money transmitter licenses (such as Alabama, obtained in 2024) and money services business registrations in the US and Canada, which cover specific payment-related activities rather than the exchange's core crypto trading business.

This offshore, multi-jurisdiction structure means LBank users have limited recourse through formal regulatory complaint channels compared with exchanges holding licenses in major financial centers. Independent reviewers frequently note that LBank's regulatory footprint is thin relative to its trading volume.

LBank uses a flat spot trading fee of around 0.10% for both makers and takers, which is straightforward but not tiered down for high-volume traders the way some competitors are. Futures trading fees are lower, with makers typically paying around 0.02% and takers around 0.06%.

Crypto deposits are generally free. Withdrawal fees vary by asset and network and are described by several reviewers as running higher than exchanges such as Binance or Bybit, reportedly because LBank routes withdrawals through third-party payment processors rather than handling them directly.

LBank lists a very large number of assets — estimates from third-party trackers range from around 800 to over 1,000 coins and well over 1,000 trading pairs — with a reputation for listing new and small-cap tokens earlier than larger exchanges. Products include spot trading, margin, futures (with high leverage), staking-style earn products, and copy trading tools.

The breadth of listings is a double-edged feature: it appeals to traders looking for early exposure to new projects, but many of the smaller listed tokens carry high volatility and liquidity risk.

LBank does not enforce mandatory KYC for basic crypto deposits, trading, or withdrawals in most supported regions, though this comes with daily withdrawal caps for unverified accounts (reported figures include limits in the tens of thousands of USDT equivalent, or a set BTC-denominated cap per day). Completing KYC raises these limits substantially. Fiat-related transactions always require full identity verification.

Withdrawal complaints — including funds held for extended 'security review' periods — are a recurring theme in independent reviews and should factor into how much capital a trader is comfortable keeping on the platform at any time.

LBank offers 24/7 live chat and a support ticket system, but its Trustpilot scores are poor — commonly cited between roughly 1.6 and 1.9 out of 5 — with the large majority of reviews being one-star and centered on withdrawal delays and unresponsive support. This pattern is consistent enough across independent review sites to be treated as a real risk factor rather than isolated complaints.