LBank has been flagged by Ontario Securities Commission for "Unregistered/Unlicensed entity offering financial products or services". LBank, also known as LBank Exchange (PT LBK Teknology Indonesia) and LBK Exchange Limited found at www.lbank.com is not registered in Ontario to engage in the business of trading in securities. This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm.
I referred a friend to LBank from a review site like this one. We both deposited. The referral bonus never arrived. Support said we did not meet the terms. When we asked which terms they pointed to a clause that was added after we signed up. Shady.
Pros: Multiple order types|Stable platform|Customizable dashboard
Cons: Mobile app could be improved
Several red flags with LBank: (1) They promise unrealistically high returns, (2) They're not registered with Ontario Securities Commission, (3) Their contact information is vague, (4) They pressure you to deposit quickly. I recommend everyone do thorough due diligence before investing with any company.
Pros: Website looks legitimate on the surface
Cons: Listed in warning databases|No transparency|Pressure to invest quickly
I joined LBank through a forum discussion and from the start, things felt off. The signup process collected far more personal information than necessary, the verification took unreasonably long, and when I finally got access, the platform was nothing like what was advertised.
Pros: Risk management tools|Detailed reporting
Cons: Website design could be more modern