STUDY RECORD · last re-checked 2026-09
LMAX Digital — institutional liquidity provider
LMAX Digital Broker Limited is regulated by the Gibraltar Financial Services Commission under licence FSC1342B. The firm focuses on execution and custody services for institutional cryptocurrency market participants. Claims regarding its liquidity and volume are self-measured and should be approached with caution.
LMAX Digital Broker Limited · Gibraltar · evidence score 55/100
Licence, read on the register
last checked September 2026
| Regulator | Licence number | Jurisdiction | Tier | Source |
|---|---|---|---|---|
| GFSC | FSC1342B | Gibraltar | tier-2 | open source ↗ |
Tier classification follows the same scale as the retail register: tier-2 means real supervision and client-money segregation, without an investor compensation scheme — never misread it as tier-1 protection.
What this record teaches
Reading skills, each anchored to something the firm actually published.
- 01 — Teaching pointLMAX Digital operates under tier 2 licence from GFSC in Gibraltar.
- 02 — Teaching pointIt serves institutional cryptocurrency market participants with execution and custody services.
- 03 — Teaching pointNo specific venues or connectivity details are published by LMAX Digital.
Claims ledger
Claims specific enough to be falsified — and the ones that remain the venue's own measurement.
Testable claims
- LMAX Digital is a trading name of LMAX Digital Broker Limited, authorised and regulated by the Gibraltar Financial Services Commission, licence FSC1342B (Gibraltar company 117528) — stated on lmaxdigital.com
- Regulated by the GFSC as a DLT provider for execution and custody services
- Custody uses a tiered offline wallet system based on cold wallets and vault storage
Claims we cannot verify from outside
- 'The institutional spot cryptocurrency exchange' positioning and volume/liquidity claims are the firm's own marketing
Perimeter and coverage
| Asset classes | Venues | Connectivity | Clients accepted | Explicitly refused |
|---|---|---|---|---|
| Spot cryptocurrencies | none published | none published | Institutional cryptocurrency market participants | none published |
A firm that publishes its own negative space — who it refuses, where it is not licensed — is materially easier to diligence than one that doesn't. The refusal list is treated here as a disclosure, not a defect.
Self-check
Answer these before you consider the record read. If you cannot, re-read the licence and the claims ledger — the answers are all in what the firm published.
- What type of clients does LMAX Digital serve in the cryptocurrency market?
- What regulatory body oversees LMAX Digital's operations in Gibraltar?