Home  >  Crypto Exchanges  >  Lbank Canada

LBank

Lbank Canada

400+

Coins 

0.10%

Trading Fee 

Indonesia

HQ

Last Updated Feb 25, 2024  |  Affiliate Disclosure

  • Review

  • Details

  • Compare

Highlights

  • LBank offers 400+ coins with competitive fees and billions in trading volume. Anyone can sign up here for a lifetime 10% trading discount.
  • They have an easy registration process with no KYC requirements.
  • Other key features include copy trading and 240+ futures markets with up to 125x leverage.

What Is Lbank?

LBank is a crypto exchange based in Indonesia and supported in 200+ countries. They were founded in 2015 and cater to over 7 million users worldwide. They support trading for over 400 cryptocurrencies, as well as derivatives trading, copy trading, and other crypto features.

It has a great user-interface and mobile app. Plus, it has a relaxed KYC policy for people who can't use Binance, KuCoin and other exchanges that are no longer available in Canada.

Lbank KYC Requirements

Canadians can use LBank for its simple, non KYC registration process. Users can access most features with just an email address when signing up. You will be able to deposit and withdraw crypto and make crypto-to-crypto trades, but you will need to verify if you want to make purchases with fiat currency.

Non KYC accounts can withdraw up to 0.5 BTC per day. For more platforms, you can check out our list of non KYC exchanges.

Things To Know

  • LBank averages billions in daily trading volume.
  • As of this writing, the 24H trading volume is $1.2B for spot and $4.8B for derivatives.
  • It has spot and margin trading, crypto futures with up to 125x leverage, copy trading, and more.
  • Spot trading fees are 0.1% and futures has a 0.02% maker fee and 0.06% taker fee.
  • They have never had any hacks (founded in 2015).
  • No proof of reserves are available, unfortunately. 
  • The website and mobile app have a simple user interface.
  • No KYC is required. You can access most features and withdraw up to 0.5 BTC per day.

Top Features & Highlights

LBank Futures Dashboard
  • 400+ Crypto Assets: LBank offers spot trading for hundreds of coins, more than the majority of cryptocurrency exchanges.
  • Crypto Futures: LBank has perpetual contracts with up to 125x leverage. You can trade over 240+ perpetual contracts on an easy interface and advanced orders like TP/SL.
  • Other Trading Tools: In addition, you have Copy Trading, Staking, ETF Trading, Grid Trading, competitions, and other features you can play with.
  • Easy Registration: What's nice is you can sign up with just an email address, which takes 30 seconds and get access to most features on the platform. Use our link for the best trading discount.
  • Good Volume and Fees: It's not as large as top players like Binance and OKX, but LBank still averages billions in daily trading volume. The trading fees are competitive as well. It's 0.1% fee for spot trading and futures have a 0.02% maker fee and 0.06% taker fee.
  • User Support: LBank has a good user interface and provides 24/7 customer service via live chat.

Is Lbank Safe?

LBank has been operating since 2015 and has never experienced any major hacks or loss of funds. The main downside for me, is that there is limited public information available about its security measures and no proof of reserves. 

Despite the lack of transparency, which will be a concern for some, LBank does have a good reputation without any hacks dating back to 2015. They also hold licenses and registrations in multiple countries, including a MSB license (Money Service Business) in Canada.

Security firm, Certik, gave LBank a security score of 77.17/100 and CoinGecko gave them an 8/10 trust score.

Trading Fees

LBank charges a 0.10% maker and taker fee for spot trading. For futures trading, the maker fee is 0.02%, and the taker fee is 0.06%. These rates are competitive when compared to the industry average. However, LBank does not offer discounts for increased trading volume like other places.

Is Lbank Worth It?

The Bottom Line: LBank is solid if you want to trade altcoins, play with leverage, and have access to lots of trading features with lots of volume and low fees. Plus, it has easy registration with no KYC.

It doesn't rival giants like Binance or KuCoin, but those platforms aren't available in Canada anyway, so LBank is a great alternative. LBank is also not a fiat on-ramp for Canadians. However, you can deposit crypto here to get all the features that regular Canadian exchanges don't offer.

Pros & Cons

  • Lots of Coins: Trade over 400 coins and 1000 trading pairs
  • Advanced Trading: Play with up to 125x leverage, copy trading, crypto loans, and more.
  • Competitive Fees: High volume and trading fees below the industry average.
  • Fast Registration: Sign up in 30 seconds with only an email.
  • Not a Fiat On-Ramp: You will need to buy crypto with $CAD somewhere else.
  • Withdrawal Fees: Pay attention to which coins you withdraw, as select coins have higher fees.
  • Limited Security Info: While LBank has never been hacked, there is not much security information available online and no proof of reserves.
  • Mixed Mobile App Reviews: Especially regarding user experience and P2P trading.

LBank Alternatives

For the best LBank alternatives, you can check my list of non KYC exchanges and list of crypto leverage exchanges. For the best fiat on-ramps in Canada, check out our best Canadian exchanges here:

NDAX.io

Out of 20+ platforms we tried, NDAX had the #1 lowest fee to buy Bitcoin in Canada. It's our top pick for 2024.

  • Lowest fees to buy Bitcoin
  • Free e-transfer deposits
  • Based in Canada
  • Low volume on some coins
  • Only 37 coins
Kraken

Kraken is fully regulated in Canada and offers 200+ cryptos, professional trading, and high liquidity. 

  • e-Transfers supported
  • Industry-leading security
  • Zero-fee staking
  • 0.25%/0.40% trading fees
  • Fiat withdrawal fees
BYDFi

If you want to trade altcoins, crypto futures and more without KYC, BYDFi is one of the top apps we found.

  • 500+ coins
  • No KYC, No VPN
  • Up to 200x Leverage
  • No $CAD supported
  • Beginner-friendly

Author

At RankFi.com, our goal is to be your trusted source for crypto reviews, guides and research. We seek out researchers with extensive crypto knowledge and firsthand experience using dozens of CeFi and DeFi platforms.


Compare Canada's

Crypto Exchanges

Save hours of research. We signed up for every crypto exchange and brokerage so you don't have to.