Luno Trading Signals - TU Expert review
Trading signals are one of the best trading options for beginners and for earning passive income. Novice traders can use such signals and earn a profit, while still learning. Brokers can offer various ways of receiving signals. Traders Union analysts have prepared a detailed analysis of Luno trading signals. You will learn what kinds of trading signals Luno offers and what the conditions for using them are.
Short introduction of 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.
| 💰 Account currency: | Cryptocurrencies, EUR, and GBP |
| 🚀 Minimum deposit: | $1 |
| ⚖️ Leverage: | 1:1 |
| 💱 Spread: | Market |
| 🔧 Instruments: | Cryptocurrencies, EUR, and GBP |
| 💹 Margin Call / Stop Out: | No |
Luno Pros and Cons
👍 Advantages of trading with Luno:
•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).
👎 Disadvantages of Luno:
•no referral program;
•fiats are represented only by EUR and GBP.
What are trading signals?
Trading signals are signals to enter a trade, which the broker provides to traders. They can be based both on fundamental and technical analysis.
A broker can provide signals in several ways:
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Copy trading.
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Email alerts.
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Signals through a blog on the website.
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Recommendations of a personal manager, etc.
When choosing signals, it is important to take into consideration their profitability, the list of trading instruments, the conditions of their provision – fees, markup, etc.
Luno Trading Signals
The company has withdrawal fees. The fee on most assets is dynamic. For Ripple, the commission is fixed at $0.03. There is no commission for BTC. There are no fees for depositing cryptocurrency. Fiats are deposited free of charge, they are withdrawn only via SEPA with a flat fee of €0.30.
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 | Spread (minimum value) | Withdrawal commission |
| Standard | 0.07% per order | Yes |
Conclusion
Based on the results of the analysis, Traders Union analysts have concluded that Luno does not have the best conditions for trading signals. The broker offers a limited choice of instruments, for which signals are provided, high fees and there are questions about signal profitability. Therefore, if you are planning to trade signals, it would be a good idea to consider another option.
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FAQs
How do I choose a signal provider?
Consider the profitability, the list of instruments the signals are provided for and the risk level of the strategy.
Are there fees charged for trading signals?
Yes. As a rule, the fee is charged as a markup to the spread, or it could be a subscription fee, or a percentage of the profit, etc.
Can I test signals on a demo account?
If you mean copy trading, it depends on the broker. If the signals are provided as a newsletter or notification, you can decide where and how to test them yourself.
Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.