Company profile
LBMA Review SummaryFounded1987Registered Country/RegionUnited KingdomRegulationUnregulatedMarket InstrumentsPrecious metals (gold, silver, platinum, palladium...)Demo Account❌Leverage/Trading Platform/Min Deposit£1,000Customer SupportTel: +44 (0) 20 7796 3067Email: mail@lbma.org.uk, ask@lbma.org.ukPhysical Address: 1-2 Royal Exchange Buildings Royal Exchange London EC3V 3LFRegistered Address: 7th Floor, 62 Threadneedle Street, London EC2R 8HP LBMA, the London Bullion Market Association, is a UK-based international trade association representing the global Over The Counter (OTC) bullion market, established in 1987. It sets market rules and providing price discovery mechanisms. Membership in LBMA requires meeting a set of stringent standards, not just paying a fee. However, LBMA now operates without legal license.Pros and ConsPros Cons Long history of operationNo regulationTransparent pricing listNo demo accountsMembership fee chargedHigh minimum depositNo live chat supportIs LBMA Legit? LB operates in an environment where details concerning its regulatory status and licensing requirements may not be publicly available or well-defined.What Can I Trade on LBMA? LBMA focuses on precious metal trading like gold, silver, platinum, and palladium. LBMA LBMA also publishes authoritative data and information, such as the fixing prices of gold and silver, which are widely used as reference indicators by financial institutions and investors globally.Tradable Instruments Supported Precious metals✔Forex ❌Commodities❌Indices❌Stocks❌Cryptocurrencies❌Account Type Before registering as a member of LBMA, you must pass a qualification test. Once you pass the test, you can apply to be a member. LBMA has five types of memberships, and all applicants must pay a non-refundable application fee of £1,000. After joining the association, members are required to pay an annual membership fee, which may change from time to time. The fees for 2024 are as follows:Member TypeFeeMarket Maker£28,700Full Member Bank/Trader£18,400Full Member Other£11,900Affiliate Member – Exchange£11,900Affiliate Member£7,100Fees The fees required by LBMA are quite complex. They impose the following charges:Good Delivery List Application and Maintenance FeesFees GoldSilverOn application (25% on submission of RSG Audit) (plus VAT at the applicable rate)£4,000£4,000Stage 1: Assay Test (not normally subject to VAT)£11,940£5,500Stage 2: Testing of applicants bars (not normally subject to VAT)£13,100£13,100Total£29,040£22,600Annual Maintenance Fee An annual maintenance fee of £9,900 per metal or £14,900 if a refiner is listed for both gold and silver.LBMA Subscriber Fee Please refer to the previous dimension.Proactive Monitoring Fees The supervising company will charge a fixed fee (US$2,000) for each dip sampling operation witnessed (US$2,300 including bar casting)ESG/Provenance Bar Listing Application Fees: £1,000