Provider profile · 2026 edition
LMAX Digital review 2026: scores, fees and alternatives.
An institutional spot exchange in the LMAX Group, regulated in Gibraltar for execution and custody.
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An institutional spot exchange in the LMAX Group, regulated in Gibraltar for execution and custody.
LMAX Digital scores 1.8 out of 5 (35 out of 100) in the Buckingham Intelligence Crypto Exchange and Liquidity for Businesses Index 2026 and ranks 11 of 12. It is strongest for banks and brokers wanting a regulated venue with a published instrument list, and its best criterion is regulatory standing at 4 out of 5. Not published or not stated on the pages read: pricing, execution access, settlement and security.
Scores from the Crypto Exchange and Liquidity for Businesses Index 2026.
No award in the Crypto Exchange and Liquidity for Businesses Index 2026.
| Segment | Score out of 100 | Rank |
|---|---|---|
| For payment and fintech firms | 37 | 11 of 12 |
| For funds and trading firms | 34 | 11 of 12 |
| For corporate treasuries | 35 | 11 of 12 |
The score out of 5 is the overall score out of 100 divided by 20. Leader goes to the top three overall, Best for to the first in each segment, and Top rated for to a score of 5 out of 5 on a criterion. Awards cannot be bought.
Where it scores best, and where to check closely, as shown in each ranking.
Banks and brokers wanting a regulated venue with a published instrument list.
What LMAX Digital publishes on its own pages, read on 26 October 2026.
An institutional spot exchange in the LMAX Group, regulated in Gibraltar for execution and custody. It publishes a full instrument list with quote currencies and cold storage for coins held. The pages read do not publish fees, API access, settlement terms or security certifications.
| Fact | What the provider publishes |
|---|---|
| Regulatory standing | "LMAX Digital is a trading name of LMAX Digital Broker Limited, authorised and regulated by the Gibraltar Financial Services Commission (license number FSC1342B)", as a DLT provider for execution and custody services. |
| Pricing | Not published on the pages read. |
| Asset and currency coverage | Published instrument list: 66 instruments on 26 crypto assets, quoted in 13 fiat currencies including USD, EUR, GBP, JPY, AUD and SGD, plus RLUSD and BTC. |
| Execution access | Exchange trading with daily hours set in the instrument list; API, RFQ and OTC desk not described on the pages read. |
| Settlement | "Cold Wallet: holds minimum number of coins required for settlement between institutional counterparties"; payment rails and credit not described. |
| Security | "All coins are held in cold storage with similar security infrastructure to gold vaults"; "Vault Wallet: holds majority of coins; it is a completely offline, multi-signature wallet." No SOC or ISO certification published. |
| Date read | 26 October 2026 |
A fact that is not published is scored as not offered or, for a fee, as if it were high. It is never estimated.
Facts read on 26 October 2026 from: lmaxdigital.com, assets.lmaxstatic.com/csv/….
Each score with the evidence behind it.
Each criterion is scored 0 to 5 against the best published offer in the Crypto Exchange and Liquidity for Businesses Index. 0 means not offered or not published. How it is scored
The other providers in the same ranking, ordered by score.
| Provider | Score out of 5 | Rank | Strongest for |
|---|---|---|---|
| Kraken | 4.5 | 1 of 12 | Businesses wanting exchange, OTC and API access with a full published fee table |
| Zerohash | 3.3 | 2 of 12 | Payment firms and fintechs embedding crypto buy, sell and payouts |
| Coinbase Prime | 3.2 | 3 of 12 | Funds and corporates wanting trading, financing and custody in one account |
| FalconX | 3.1 | 4 of 12 | Funds and fintechs needing wide token and fiat coverage through one counterparty |
| OSL | 2.9 | 5 of 12 | Asian and European businesses converting between stablecoins and fiat |
| B2C2 | 2.9 | 6 of 12 | Exchanges, brokers and fintechs wanting streaming prices without pre-funding |
| Wintermute | 2.7 | 7 of 12 | Funds and token projects wanting chat and API liquidity in hundreds of tokens |
| GSR | 2.5 | 8 of 12 | Treasuries and funds trading large blocks across many fiat currencies |
| Enigma Securities | 2.5 | 9 of 12 | UK and European firms wanting voice, chat and API execution |
| Galaxy | 1.9 | 10 of 12 | US institutions wanting OTC trading alongside lending and derivatives |
| Keyrock | 0.9 | 12 of 12 | Crypto platforms and token projects wanting a single OTC counterparty |
Full Crypto Exchange and Liquidity for Businesses Index ranking
Side by side on every criterion, fact and award.
Head-to-head comparisons cover pairs within the top five of each ranking. LMAX Digital is compared with its alternatives in the table above.
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