DFX vs LMEX
It is a trade-off. DFX has the higher Safety grade (6.2 against 4.3), while LMEX has the higher Privacy grade (2.4 against 0.3).
DFX
Swiss bank-transfer on/off-ramp that pays out to the customer's own wallet
Privacy
0.3/ 10
Poor
Safety
6.2/ 10
Fair
ID mandatory KYC 4 Docs reviewed Full review →
LMEX
Spot and derivatives exchange run by a BVI company, with KYC possible at registration
Privacy
2.4/ 10
Poor
Safety
4.3/ 10
Caution
ID on risk flag KYC 3 Docs reviewed Full review →
Side by side
| DFX | LMEX | |
|---|---|---|
| Category | No-KYC Exchanges | No-KYC Exchanges |
| KYC policy | ID mandatory | ID on risk flag |
| Custody | Non Custodial | Custodial |
| Sign-up | Email required | Email required |
| Open source | Yes | No |
| Tor onion address | No | No |
| Coins | BTC, ETH | BTC, ETH, XMR, SOL |
| Pay with | Bank transfer, Crypto | Crypto, Monero |
| Fees | Standard for private individuals by bank transfer: 1.49% buy, 1.99% sell | Not published |
| Limits | Limits are set per user by DFX. Terms require KYC before any use; homepage FAQ states KYC is mandatory from CHF 1,000 per transaction. The two texts conflict. | Not confirmed: the official help centre was unavailable (account suspended) during this review |
| Jurisdiction | Switzerland | British Virgin Islands |
| Not available in | Approved for sale in Switzerland only; no business with persons in FATF high-risk jurisdictions | Terms: United States, Belarus, Canada, Cuba, Eritrea, Iran, North Korea, Syria, Singapore, Taiwan, Russia and Venezuela |
| Incidents on record | 0 | 0 |
| Published tests (180 days) | 0 | 0 |
Only DFX
Open sourceOwn liquidityAML screening
Both
Legal entity disclosedRequires emailMay request IDRuns an affiliate programme
Only LMEX
CustodialAccepts MoneroExcludes US usersClosed source
Where they sit among no-kyc exchanges
Questions
Is DFX or LMEX safer?
DFX has the higher Safety grade: DFX 6.2, LMEX 4.3, out of 10.
Does DFX or LMEX require KYC?
DFX is KYC level 4 (ID mandatory). LMEX is KYC level 3 (ID on risk flag).
Which has more incidents on record?
DFX has 0 and LMEX has 0 documented incidents in the registry.