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One of the pros of LBMA is its long history and experience in the financial sector, having been founded in 2001. This longevity may suggest a certain level of expertise, particularly in the metals trading market, where it offers specialization. However, the biggest drawback is its unregulated status, which means that as a trader, I have no legal guarantees or protections in place. The absence of oversight is a huge risk, and in my opinion, it outweighs any positives. Additionally, LBMA offers only a limited selection of trading instruments, which might not cater to traders looking for a more diversified portfolio.