London Bullion Market Association
abstrak：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.
| LBMA Review Summary | |
| Founded | 1987 |
| Registered Country/Region | United Kingdom |
| Regulation | Unregulated |
| Market Instruments | Precious metals (gold, silver, platinum, palladium...) |
| Demo Account | ❌ |
| Leverage | / |
| Trading Platform | / |
| Min Deposit | £1,000 |
| Customer Support | Tel: +44 (0) 20 7796 3067 |
| Email: mail@lbma.org.uk, ask@lbma.org.uk | |
| Physical Address: 1-2 Royal Exchange Buildings Royal Exchange London EC3V 3LF | |
| Registered 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 Cons
| Pros | Cons |
| Long history of operation | No regulation |
| Transparent pricing list | No demo accounts |
| Membership fee charged | |
| High minimum deposit | |
| No live chat support |
Is 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 Type | Fee |
| Market Maker | £28,700 |
| Full Member Bank/Trader | £18,400 |
| Full Member Other | £11,900 |
| Affiliate Member – Exchange | £11,900 |
| Affiliate Member | £7,100 |
Fees
The fees required by LBMA are quite complex. They impose the following charges:
- Good Delivery List Application and Maintenance Fees
| Fees | Gold | Silver |
| On application (25% on submission of RSG Audit) (plus VAT at the applicable rate) | £4,000 | £4,000 |
| Stage 1: Assay Test (not normally subject to VAT) | £11,940 | £5,500 |
| Stage 2: Testing of applicants bars (not normally subject to VAT) | £13,100 | £13,100 |
| Total | £29,040 | £22,600 |
- Annual 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
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