#107 of 115 in the US ranking · Institutional

LMAX Digital Review (October 2026): Fees, US States and Licenses

Best for: Institutional spot execution

4.1/10

US access 20%2.0
Regulation 20%2.0
Security record 15%6.0
Cost 15%9.6
Range 10%4.2
Popularity 15%1.0
Data quality 5%7.0

By Vahe Hakobyan Verified October 5, 2026 Medium confidence No affiliate links

Taker fee0.06%
US states— Not verified
New York— Not verified
Coins— Not verified
CustodyCustodial
App Store— Not verified

Our verdict

LMAX Digital is the institutional spot crypto exchange of London-based LMAX Group. It operates through LMAX Digital Broker Limited, licensed by the Gibraltar Financial Services Commission as a DLT provider for execution and custody. It lists a short set of large-cap assets and holds client coins in offline wallets. No US license was found, and individuals cannot open accounts.

Pros

Regulated by Gibraltar's GFSC for execution and custody
Client coins held in offline multi-signature wallets
Part of LMAX Group, operator of an FCA-regulated trading facility

Cons

Institutional clients only; no retail accounts
No US license or US eligibility statement found
Fees not published

LMAX Digital fees

Maker / taker: 0.02% / 0.06%
Simple buy: — Not verified
Volume tiers: Non-committed clients under $100M monthly volume: 2 bps passive / 6 bps aggressive; aggressive falls to 3 bps above $200M; committed makers: passive free, aggressive 3 bps
ACH deposit: — Not verified
Wire deposit: — Not verified
Card purchase: — Not verified
USD withdrawal: — Not verified
Crypto withdrawal: — Not verified
Minimum deposit: $100,000

Is LMAX Digital available in my state?

LMAX Digital describes itself as an institutional-only spot crypto exchange regulated in Gibraltar; whether US institutions are accepted was not stated on any page opened (Oct 2026).

The list of states this platform serves is not verified yet.

New York: — Not verified
ID check (KYC): — Not verified
Withdraw crypto: — Not verified
Funding: — Not verified

Is LMAX Digital regulated?

FinCEN MSB

US operator: — Not verified
Parent company: LMAX Group
State licenses: — Not verified
New York license: — Not verified
Other: LMAX Digital Broker Limited, authorised by the Gibraltar Financial Services Commission as a DLT provider (licence FSC1342B). No US registration found; not on the NYDFS regulated-entity list.
Founded: — Not verified
Headquarters: Gibraltar-registered entity; LMAX Group based in London, UK

How secure is LMAX Digital?

Proof of reserves: — Not verified
Audits: — Not verified
Insurance: — Not verified

Incidents since 2019

None found in the sources checked.

Crypto held on a platform is not covered by FDIC or SIPC insurance.

What you can do on LMAX Digital

Spot

Institutional spot order book with custody in offline multi-signature cold and vault wallets.

Apps: iOS
Support: — Not verified

LMAX Digital FAQ

What are LMAX Digital's fees?

On its order-book screen LMAX Digital charges 0.02% maker and 0.06% taker at the base tier.

Is LMAX Digital regulated in the US?

Registrations and licenses on record: FinCEN MSB.

Alternatives to LMAX Digital

Not financial advice. Crypto prices are volatile and you can lose everything you put in. World-Crypt earns nothing from the platforms reviewed here.