LBX Review 2026: Regulation, Accounts, Fees and Risks

Short answer: LBX is a CFD brand of the Libertex Group. Every client signs with MAEX Limited, an investment dealer licensed by the FSC of Mauritius (licence C118023400), which acts as market maker and takes the other side of your trades. The Standard account has no commission, the Zero account needs a $500 first deposit and charges $6 per lot according to the help centre, and leverage reaches 1:1000 on forex for smaller accounts.

How this review was made: we read the LBX website, its help centre, MAEX Limited’s Client Agreement, Risk Disclosure, Legal Declaration, Rules for Non-Trading Operations and inactivity fee rules, plus the FSC Mauritius register, IOSCO’s alert database and the RBI Alert List, as of October 2026. We have not opened a live account, so this edition has no measured spreads or withdrawal times.

LBX in four numbers. Source: LBX website, help centre and MAEX Limited legal documents, October 2026.

LBX at a glance

Is LBX safe and legit?

LBX is a brand name. The legal entity behind it is what decides your protection, and for every LBX client that entity is the same Mauritius company.

Who holds your account

The website footer and the License and Regulation page name MAEX Limited and licence C118023400 (source). The Client Agreement says it is “entered into by and between the Client” and MAEX Limited, that the company holds an Investment Dealer licence from the FSC, and that the agreement is governed by Mauritius law with proceedings in Mauritius courts (Client Agreement). The FSC’s online public register lists MAEX LIMITED as an “Investment Dealer (Full Service Dealer excluding Underwriting)” licensed on 17/11/2020, with no lapse annotation, as of October 2026 (FSC register). The register list does not show the licence number, so C118023400 comes from LBX’s own documents.

What you do not get. MAEX’s Risk Disclosure states that “the Client shall not be protected by any statutory compensation arrangements in any event whatsoever” (Risk Disclosure). The Legal Declaration you accept at sign-up says that “No regulator or government authority in your country of residence has authorised or licensed MAEX LIMITED’s activities” and that following local law is your responsibility (Legal Declaration). In practice that means no UK FSCS, no EU investor compensation, no Financial Ombudsman and no ESMA or ASIC leverage caps.

Client money: segregated or pooled?

The FAQ says “All client funds are held in segregated accounts” (source). The Client Agreement is more precise. Client money goes into bank accounts held in MAEX’s name, and “We do not hold individual segregated accounts, and your money will be co-mingled” with other retail clients’ money in omnibus accounts. Money placed as margin “ceases to be ‘Client Money’”, and MAEX may move unrealised losses from the client account to its own accounts while positions are open. If a bank or MAEX fails, no single client has a claim on a specific sum.

Financial Commission membership

The Financial Commission, a private dispute-resolution body, lists LBX as an active member since 13 January 2026. Its page says LBX clients can file complaints free of charge and are covered by its Compensation Fund up to €20,000 per client (source). This fund pays when a member does not honour a Commission ruling. It is not a government scheme and does not cover trading losses.

How LBX makes money

The help centre says plainly: “LBX operates as a Market Maker”, does not offer an STP model, and acts “as your direct counterparty”, with orders filled internally (source). The Client Agreement says MAEX may pass orders to liquidity providers but “contractually, we are the sole counterparty to all your Trading Operations” and that the company “is itself the Execution Venue”. Revenue therefore comes from spreads, commission on Zero, swaps and, on positions it does not hedge, from client losses. That is common for retail CFD brokers, but LBX says it openly, which helps you judge the conflict of interest.

Regulator warnings we found

• UK (FCA): IOSCO’s I-SCAN database records an FCA warning dated 8 July 2025 under the name “London Block exchange/LBX” for the website www.lbx.com, categorised as an unregistered or unlicensed entity offering crypto and digital asset products (I-SCAN entry). The FCA page that I-SCAN links to returned “Page not found” when we opened it in October 2026, and a search of the FCA register for “LBX” showed no firm by that name. We could not confirm whether the warning concerns MAEX Limited’s LBX brand or an earlier business on the same domain, but it names the same web address, so UK residents should treat it as a red flag.
• Libertex brand: I-SCAN also lists warnings that use the Libertex or Forex Club Libertex name from Ukraine’s NSSMC (2024), the Dominican Republic’s SIMV (2023), Brazil’s CVM (2018, against Forex Club International Limited and libertex.org), Belize’s FSC (2026, in a notice naming several firms and libertex.org) and Thailand’s SEC (2025, against a LINE account called “Libertex Service”) (I-SCAN). None names MAEX Limited or lbx.com. The Dominican Republic is on LBX’s list of served countries.

We found no I-SCAN entry for “MAEX”. LBX also runs a fraud-warning page about clone firms using the group’s name.

LBX account types

Sources: account types, Standard, Zero, help centre account types, Cent.

Where LBX’s figures disagree

LBX’s pages do not agree on several numbers, so check the figure inside your client area before you deposit:

• Minimum deposit. The account comparison page and the Standard page say $10. The payment methods page says “You can start from just $1”. The FAQ says the first deposit “is as low as $50”, and the help centre’s deposit article (last modified 9 April) says “a minimum first deposit amount is 50 USD (except ZERO accounts)” (source). The two help-centre-style sources agree on $50, so plan for that.
• Zero commission. The Zero page, the FAQ and several help centre articles say $6 per lot. A help article on trading conditions calls it “a fixed commission of $6 per lot for opening trades” (source). The comparison table on the account types page says $3.5 / lot. None of the pages says whether the figure is per side or per round turn.
• Standard spread. The Standard page and FAQ say “from 1.6 pips”. The comparison table says “from 0.1 pips”.
• Demo balance. The demo page says $100,000 in virtual funds, the account types page $10,000, and the FAQ $50,000.

The Cent account is listed in the help centre (last modified 9 October) but not on the website’s account comparison. It uses US cents (1 USD = 100 USC), runs on MT4 and MT5, covers forex majors and minors, metals and energies, and follows Standard trading conditions. The help centre also mentions LBX app accounts, with conditions “identical to the MetaTrader Standard and Zero accounts”, and a Boost account with a bonus, whose stop out is 80%.

Which LBX account fits whom?

• Beginner: start on the demo, then a small Standard or Cent account with low leverage.
• Scalper or EA trader: compare Zero (raw spread plus $6) with Standard (wider spread, no commission, cashback). Our spread vs commission guide shows how to add the two.
• Gold and oil trader on Standard: the cashback is larger on these instruments (see below), which partly offsets the spread.

Fees and costs

Swaps. The help centre says swaps are applied if a trade is open at 21:00 GMT, with a triple swap on Wednesday for all instruments except indices and crypto. Indices take the triple swap on Friday. Crypto swaps are daily on MT5 and the app, but triple on Friday on MT4 (source). Its worked example: a 0.05-lot EUR/USD long held Tuesday to Friday with a swap of -9.77 points per rollover is charged five rollovers, or -2.442 USD. Read what a swap is if the term is new.

Inactivity. MAEX’s inactivity rules define an inactive account as one with no open positions and no trading or non-trading operations for 90 calendar days, and set the fee at $10 per month per inactive trading account. If the balance is below $10, the fee takes the balance to zero (source). No fee is charged if any account in your profile is active. The Client Agreement adds that an account at zero balance may be closed without notice.

Cashback. On Standard accounts LBX pays $2.50 per lot on gold, silver, WTI, Brent and natural gas, and $0.50 per lot on other instruments except indices and crypto. Trades must be held at least 3 minutes, cashback stops at $10,000 per user, and it is credited to a cashback wallet that can be transferred once it reaches $50 and withdrawn once per calendar month (help centre, programme page). The Client Agreement lets MAEX change or cancel loyalty schemes “at any time and without any prior notice” and void profits where it suspects abuse.

Leverage, margin call and stop out

LBX uses tiered leverage that falls as your net equity rises (source):

Silver, palladium and platinum have their own lower tiers, starting at 1:100. New leverage applies only to new trades. The help centre shows what 1:1000 means: one lot of EUR/USD at 1.18250 needs 118.25 USD of margin, and a 0.01-lot position on many pairs needs between $0.50 and $2.00 (source).

Margin call is at 50% and stop out at 30% on Standard and Zero accounts, with the most loss-making position closed first. On the bonus Boost account the stop out is 80%, and bonus funds do not count toward equity (source). See margin call and stop out for how these levels work.

Negative balance protection: the documents differ

The Client Agreement says MAEX “applies a ‘negative balance protection’ policy pursuant to which you may not lose more than the amount deposited”, and waives a negative balance after a close-out. The Standard page lists negative balance protection too. The website’s risk warning page, however, says that if a forced closure “result[s] in a loss or deficit, the Client remains liable for such losses” (source). The Client Agreement also lets MAEX act where it believes a client has abused the policy. Treat the protection as a company policy, not a regulatory guarantee.

Deposits and withdrawals

Payment methods depend on your country. The help centre publishes separate tables for two Asian markets and for Latin America (deposits, withdrawals). For Latin America:

“Instant” means processed automatically on LBX’s side; the money may take longer to arrive. Card withdrawals above the amount deposited by card go back by bank transfer or another method, and third-party payments are not accepted (source).

Processing time: a conflict. The help centre says that if a request is not instant, “it will be processed within 1 business day” (source), and the payment page says 98% of withdrawals are approved automatically. MAEX’s Rules for Non-Trading Operations (October 2024) say a withdrawal request “shall be processed by the Company within ten (10) business days” (source). The legal document is the one you agree to, so 10 business days is the outer limit you can rely on. The same rules let MAEX block operations and charge investigation costs if a transaction looks dubious.

Platforms, instruments and copy trading

• Platforms: MT4, MT5, the LBX app and a browser WebTrader (FAQ). App accounts cannot be used in MetaTrader.
• Instruments: forex, metals, energies, indices, soft commodities such as coffee and cocoa, and crypto CFDs. Stock CFDs have been available in the LBX app since 18 May. Crypto is not offered to residents of Colombia (source).
• Copy trading: followers pay a performance fee only on profit, set by the provider at 0% to 30% and charged weekly or monthly (source). LBX says it takes no platform commission (source). Copying someone does not limit your risk; see what copy trading is.
• Execution: market execution with floating spreads on all accounts, and no fixed-spread account.

Bonuses and promotions

Beyond cashback, LBX says it runs promotions shown in your client profile, each with its own PDF terms. The Client Agreement allows only one bonus scheme at a time unless stated otherwise, and lets MAEX cancel bonus operations and profits on suspicion of “bonus or swap arbitrage, hedging positions” or other abuse. The Boost account, which uses a bonus, has a stop out of 80% rather than 30%.

Is LBX available in my country?

LBX says it “does not accept any customers from and does not operate in” Russia, the United States, Japan, Brazil and the European Union, countries identified by FATF as high-risk and non-cooperative, and countries under international sanctions (source). The Client Agreement also excludes residents of Mauritius, where MAEX is registered, and residents of countries where the service is prohibited or needs local authorisation.

LBX also publishes a list of where it does operate. The help centre (last modified 14 September) names Thailand, Vietnam, the Philippines, Indonesia, Malaysia, Argentina, Bolivia, Chile, the Dominican Republic, Ecuador, Guatemala, Honduras, Mexico, Panama, Paraguay, Peru, Uruguay, Venezuela, Costa Rica, Colombia, the UAE, Saudi Arabia, Qatar, Oman, Bahrain and Kuwait (source). The website FAQ gives a shorter list of 18 that leaves out Indonesia, Malaysia and the Gulf states. If your country is on neither list, ask support before you register.

United States: US residents cannot open an account. We do not suggest offshore brokers to US residents.

United Kingdom: the UK is not on LBX’s restricted list, but it is not on its served list either, and the FCA warning described above names www.lbx.com.

India: LBX is not named on the RBI Alert List (updated 19 November 2025). The RBI says the list is not exhaustive and that an entity not on it should not be assumed to be authorised. Under FEMA, Indian residents may trade forex only in permitted currency pairs through RBI-authorised persons, recognised Indian exchanges or RBI-authorised platforms, and India is not on LBX’s list of served countries.

Complaints

Start with support, then send a formal complaint from your registered email to [email protected] with your name, account number, order numbers and the date of the issue, as the Client Agreement describes. For trading disputes, the help centre says claims are usually answered within 1 to 7 business days (source). If that fails, the Financial Commission is the outside route; the courts of Mauritius have jurisdiction under the agreement.

LBX alternatives

Bottom line

LBX offers MT4, MT5 and its own app, a commission-free Standard account with withdrawable cashback, a Zero account from $500, and small 0.01-lot positions. It names its operator, MAEX Limited, and that company’s FSC Mauritius licence appears on the regulator’s register.

The protection is thin. MAEX is the counterparty to every trade, client money is pooled, there is no statutory compensation, leverage reaches 1:1000, and an FCA warning names the lbx.com domain. Its own pages also disagree on the minimum deposit, the Zero commission, the Standard spread and withdrawal times.

If you are in a country LBX serves and still want to try it, start on the demo, confirm the deposit and commission in your client area, keep leverage low, and only deposit money you can afford to lose.