VENUE FILE · filed 2026-09 · last re-checked 2026-09
LMAX Digital — the liquidity layer, one venue at a time
LMAX Digital Broker Limited operates as an institutional spot cryptocurrency exchange in Gibraltar, regulated by the GFSC for execution and custody services.
LMAX Digital Broker Limited · Gibraltar · evidence score 55/100
Licence, read on the register
| 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.
The claims ledger
Claims specific enough to be falsified — and the ones that remain the venue's own measurement.
- 3testable claims
- 1venue-measured claims
- 0named data centres
- 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 | Institutional cryptocurrency market participants |
A firm that publishes its own negative space — who it refuses, where it is not licensed — is materially easier to assess than one that doesn't. The refusal list is treated here as disclosure, not as a defect.
What the desk watches next
The follow-up plan attached to this file — each item re-checked on a future pass, dated and kept falsifiable.
- Self-measured claims on volume and liquidity
- Tier 2 license limitations