LBank review
LBank is a centralized cryptocurrency exchange founded in 2015 by He Wei (also referred to as Eric He), offering spot, margin and futures trading, options, copy trading, staking/Earn products, a launchpad, P2P and grid trading across 800+ cryptocurrencies and 1,000+ trading pairs. The company is registered in the British Virgin Islands and reports 20 million-plus users across 210+ countries. According to CoinGecko's exchange assessment, no primary financial-market regulator authorization has been identified for the exchange; LBank instead holds ancillary registrations, including US and Canadian money-services-business (MSB) registrations and an Italian OAM registration, which are administrative registrations rather than full trading licenses. Independent security auditor Hacken rates its cybersecurity posture at 2 out of 5 stars.
LBank key facts
- Website: www.lbank.com
- Category: Centralized cryptocurrency exchange (CEX)
- Founded: 2015, by He Wei (Eric He)
- Headquarters: British Virgin Islands (registered); offices reported in Lithuania, Canada and Singapore
- Regulatory status: No primary market regulator authorization identified; holds US/Canada MSB and Italian OAM registrations only
- Products: Spot, margin, futures/options, copy trading, staking/Earn, launchpad, P2P and grid trading
- Trading fees: Spot flat 0.10% maker/taker; futures from about 0.02% maker / 0.06% taker
- Supported assets: 800+ cryptocurrencies across 1,000+ trading pairs
- Security rating: 2/5 stars from independent auditor Hacken; no confirmed incidents in the trailing 12 months per CoinGecko
- FYI Score: 83.6/100 (ranked #12 of the 48 crypto exchanges we track)
Trading fees
- Flat 0.10% maker and taker fee on spot trading
- Futures fees starting from roughly 0.02% maker and 0.06% taker
- No deposit fees; withdrawal fees vary by cryptocurrency
Supported assets
- 800+ cryptocurrencies listed across 1,000+ trading pairs
- Frequent early listings of newer and smaller-cap altcoins
- CoinGecko records an exchange trust score of 8/10 based on liquidity and volume metrics
Products
- Spot and margin trading, plus crypto futures and options with leverage reported up to 125x
- Futures copy trading, with LBank citing 1,350+ listed lead traders
- Staking/Earn programs and a token launchpad
- P2P trading and grid (automated) trading tools
Security & regulation
- No primary financial-market regulator authorization identified for the exchange itself, per CoinGecko's exchange assessment
- Holds a US/Canada money-services-business (MSB) registration and an Italian OAM registration -- administrative registrations, not full exchange licenses
- Independent auditor Hacken rates LBank's cybersecurity posture at 2 out of 5 stars
- CoinGecko reports no confirmed security incidents in the trailing 12 months as of this review
Markets
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Who LBank is for
LBank suits traders prioritizing broad, early access to smaller-cap altcoins and leveraged futures over regulatory protection. Its offshore BVI registration, lack of confirmed primary regulator authorization, and a below-average independent security rating are worth weighing against its flat, low headline spot fee.
Pros
- Very broad asset coverage: 800+ coins and 1,000+ trading pairs, with frequent early listings of newer altcoins
- Wide product range in one account: spot, margin, futures/options, copy trading, staking, launchpad and P2P
- Simple, flat 0.10% spot trading fee with no deposit fees
- Reports broad fiat and payment-method coverage for on-ramping, and no confirmed security incidents in the trailing 12 months per CoinGecko
Cons
- No primary financial-market regulator authorization identified for the exchange; it is registered offshore in the British Virgin Islands, and its US/Canada MSB and Italian OAM registrations are administrative registrations rather than full trading licenses
- Independent auditor Hacken rates LBank's cybersecurity posture at only 2 out of 5 stars
- Community-forum user reports describe accounts being frozen or facing additional verification demands after large withdrawals, a recurring complaint pattern
- Heavy emphasis on small-cap and newly launched token listings raises the risk of low-liquidity or short-lived assets appearing alongside major coins
- Leadership history is not consistently reported across sources: founder He Wei is described as having stepped back around the exchange's ninth anniversary, and FYI could not confirm a current CEO name from reputable sources
LBank FAQ
Is LBank regulated?
No primary financial-market regulator authorization has been identified for the LBank exchange itself, per CoinGecko's exchange assessment. LBank is registered in the British Virgin Islands, an offshore jurisdiction, and holds ancillary registrations, including money-services-business (MSB) registrations in the US and Canada and an OAM registration in Italy. These are administrative registrations, not full exchange trading licenses.
Is LBank safe?
Independent security auditor Hacken rates LBank's cybersecurity practices at 2 out of 5 stars, and CoinGecko lists no confirmed security incidents within the trailing 12 months as of this review. LBank does not carry the regulatory oversight of exchanges licensed in major jurisdictions, so that gap is worth weighing against its reported security record.
What are LBank's trading fees?
Spot trading uses a flat 0.10% fee for both maker and taker orders, with no separate deposit fee. Futures trading starts from roughly 0.02% maker and 0.06% taker. Withdrawal fees vary by cryptocurrency.
Who founded LBank?
LBank was founded in 2015 by He Wei (also referred to as Eric He), who served as founder and chairman. Reports describe a leadership step-back for He Wei around the exchange's ninth anniversary; current top-executive details are not consistently reported across sources, so FYI has not confirmed a current CEO name.
Compare LBank with other crypto exchanges
See all crypto exchanges ranked by FYI →
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