London Bullion Market Association

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

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.

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:

Fees

The fees required by LBMA are quite complex. They impose the following charges:

• Good Delivery List Application and Maintenance Fees

• 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