Luno Review 2024
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- $1
- Proprietary platform
- Free crypto wallet, advantageous investment system, low commissions, there are pairs with fiats, high level of security
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- $1
- Proprietary platform
- Free crypto wallet, advantageous investment system, low commissions, there are pairs with fiats, high level of security
Our Evaluation of Luno
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
Luno is a cryptocurrency exchange with higher-than-average risk and the TU Overall Score of 3.34 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by Luno clients on our website, Traders Union expert Anton Kharitonov recommends users to consider a more reliable broker with better conditions, as, according to reviews, many clients of this broker are not satisfied with the company’s work.
The Luno crypto exchange has a proprietary trading terminal with convenient functionality for trading and exchanging cryptocurrencies in crypto-crypto and crypto-fiat in both directions. There are most major cryptocurrencies, and commissions are below the market average. They also offer an advantageous investment system with a high annual interest rate. The platform pays great attention to the security of user data and funds. They have their own Learning Portal for beginners in crypto trading.
Brief Look at Luno
The Luno exchange is a multifunctional service that provides users with a free multicurrency crypto wallet called the Luno Wallet which allows you to quickly exchange, buy, and sell cryptocurrencies. The service has an investment system that allows you to make money on cryptocurrency deposits. The proprietary trading terminal is represented by a web version and a mobile application for iOS and Android. They trade Bitcoin (₿), Litecoin (Ł), Ethereum (Ξ), XRP, USDC, and other cryptocurrencies. Among fiat assets are euros and pounds sterling. For beginners, the service offers free training programs as part of the proprietary Training Center. Data and assets are protected by two-factor authentication and hot and cold hybrid asset storage. he broker is especially in demand among residents of South Africa, Malaysia, Singapore and Nigeria.
- a convenient and functional trading terminal (web and application);
- they provide a free multicurrency wallet with free service;
- an investment system with an annual interest rate of up to 7.6%;
- a high level of information security over the platform;
- they trade most major cryptocurrencies, and there are crypto-to-fiat pairs;
- large trading volumes and high speed of the service;
- one of the lowest trading commissions (0.00% for a maker).
- no referral program;
- fiats are represented only by EUR and GBP.
TU Expert Advice
Financial expert and analyst at Traders Union
The Luno crypto exchange has been operating since 2013. The company is licensed, and its main investor is the DCG Group. The company provides services for the exchange and the sale of cryptocurrencies. There are many popular cryptocurrencies and fiat currency pairs. Fiats are currently represented by the EUR and GBP. Based on the results of the analysis, significant trading volumes and high progressive activity were confirmed.
The company’s Luno Wallet has standard functionality. The platform has its proprietary trading terminal, which is standard and with no specific or unique functions. As a feature of the platform, one can single out Luno Savings, an investment system with annual interest on cryptocurrency deposits. There are also proprietary solutions for business (API Luno). The tests revealed no technical problems.
The analysis of the exchange’s activities for 7 years did not provide data on controversial situations, deceptions, or the company’s non-compliance with its obligations to customers. The security system for data collection and the storage of funds has been recognized as reliable. Trading is convenient for beginners due to the simplicity of the trading terminal and the presence of the Learning Portal, but there are no demo accounts. Traders receive a standard trading terminal with one of the lowest commissions in the segment.
- You're a beginner, as Luno provides a user-friendly interface and comprehensive educational resources, making it an excellent choice for those new to cryptocurrency investing. Their instant buy options for major coins like Bitcoin and Ethereum, coupled with a well-reviewed app known for its simplicity, offer a seamless entry into the crypto market.
- You value regulation and security, as Luno is globally recognized for its compliance standards and prioritization of security measures. Undergoing independent security audits and maintaining robust KYC/AML procedures, Luno ensures a safe and secure trading environment for its users.
- You're looking for the lowest fees, as Luno's fee structure may not be the most cost-effective option, particularly for larger trades. If you prioritize minimizing transaction costs and seek exchanges with lower fee rates, you may want to explore alternative platforms that offer more competitive fee structures.
Luno Summary
| 💻 Trading platform: | Proprietary platform |
|---|---|
| 📊 Accounts: | Standard |
| 💰 Account currency: | Cryptocurrencies, EUR, and GBP |
| 💵 Replenishment / Withdrawal: | Bank cards and accounts, electronic and cryptocurrency wallets |
| 🚀 Minimum deposit: | $1 |
| ⚖️ Leverage: | 1:1 |
| 💼 PAMM-accounts: | No |
| 📈️ Min Order: | from 0 |
| 💱 Commission: | Market |
| 🔧 Instruments: | Cryptocurrencies, EUR, and GBP |
| 💹 Margin Call / Stop Out: | No |
| 🏛 Liquidity provider: | No |
| 📱 Mobile trading: | Yes |
| ➕ Affiliate program: | No |
| 📋 Orders execution: | N/A |
| ⭐ Trading features: | Free crypto wallet, advantageous investment system, low commissions, there are pairs with fiats, high level of security |
| 🎁 Contests and bonuses: | Traders Union rebates |
Luno does not require a minimum deposit, and the registration is free. There is no leverage, no stop loss, or take profit functions. Technical support is available 24/7, but please note that there is only one way of contacting them — through tickets in the Help Center. The company does not have a call center or other operational communication channels. The main trading conditions are presented in the table below:
Share your experience
- Best
- Last
- Oldest
Commissions & Fees
Trading commissions depend on the trading level. The trading level is determined by the volume of trades during the previous 30 days. The maker’s commission at all levels is 0.0%. Taker’s fees range from 0.03% to 0.10%. Instant commission for buying/selling with EUR is 3.5% for Google Pay and card, and 1.5% for a cryptocurrency wallet.
| Account type | Commission (minimum value) | Withdrawal commission |
|---|---|---|
| Standard | 0.07% per order | Yes |
Lunо has some of the lowest trading fees. For comparison, the table below shows data for some other cryptocurrency exchanges:
| Broker | Average commission | Level |
|---|---|---|
|
$0.03 | |
|
$20 | |
|
$0.1 |
Investment Programs, Available Markets, and Products of the Crypto Exchange
The Luno crypto exchange offers a proprietary investment system called Luno Savings. Each verified user gets access to the system. You have to go to the corresponding section of the personal account in the web version or open the Luno Saving tab in the mobile application.
Luno Savings is a catalog of offers from partners of the platform. Partners use the contributions of investors to solve their own business problems, in exchange for paying interest. The rate for all offers is annual, the percentage depends on the conditions, currency, and the amount of the deposit. The maximum rate is 7.6%.
The feature of the Luno investment system is its absolute transparency, as well as freedom of action for the investor. You immediately know all the terms of the contract, there are no hidden fees. You can withdraw your deposit at any time, but this will not allow you to receive interest.
If you are a large investor and plan on investments over $10,000, contact us at vip-invest@tradersunion.com or by the feedback form on our website. Our professional team will take you through all the intricacies of the deal and all the steps from signing up to withdrawal of profits.
Luno’s affiliate program:
The Luno crypto exchange does not provide partner (referral) programs. In addition to making money on the sale and purchase of cryptocurrencies and currencies, the user has only one resource for generating passive income — the investment direction. The absence of the referral program can be regarded as the absence of the need for the company to additionally stimulate the influx of new customers. This means that the trading volumes are already sufficiently large.
User Satisfaction