Luno
Luno
Luno is an exchange with over 15 million users, dual FSCA and BNM licensing, and access to xStocks, tokenized US equities. Its strength is regulated coverage of emerging markets, but its fees are not competitive against global CEXs and exposure to volatile local currencies remains a risk factor.
Data & conditions
| Maker / Taker fee | 0.1% / 0.1% |
|---|---|
| Markets | Spot |
| Max leverage | 1× |
| Supported assets | 35+ |
| Trading pairs | 25+ |
| 24h volume | $2.16M |
| Fiat on-ramp | Yes |
| Deposit methods | bank_transfer, card, instant_eft |
| Geo restrictions | US |
| Staking / Earn | Savings Wallet (ETH, ADA, SOL, DOT, ATOM, NEAR) |
| Fund custody | Custodial (platform holds funds) |
| KYC | Full |
| Supported countries | AFRICA, APAC · 10+ countries |
| Regulator | FSCA |
| OAM Italy registration | No |
| Segment | B2C |
| MiCA / License status | FSP Sud Africa + FCA UK FSCA (SA); BNM (Malaysia) |
Strengths
- 15M+ users; xStocks (shares USA tokenized); FSCA + BNM dual license.
- No notable sovereignty advantage documented.
Weaknesses
- Fee not competitive vs CEX globali; emerging focus.
- Custodial: the platform holds your funds and can freeze or lose them.
- Full KYC required: verified identity, zero pseudonymity.
- Subject to regulation (FSCA (SA); BNM (Malaysia)): reporting to authorities and freezes on order.
- Geographic restrictions (US).
Verdict
Luno is among the strongest in the category on protection: over 15 million users, dual FSCA and BNM licensing, competitive 0.1% fees and access to tokenized US equities via xStocks justify its place at the top of its tier. The score doesn't climb higher because of its focus on emerging markets and exposure to volatile local currencies, which remain a risk factor for users operating in those regions.
Despite low fees and regulatory solidity, Luno remains custodial with full KYC: the user does not control the keys and identity is fully verified. The tokenized equities in xStocks are a centralized, regulated asset, not an example of trustless finance. Through this lens the broad emerging-market coverage does not offset the complete absence of self-custody and privacy.
Promp's editorial rating based on real fees and net annual cost. Promp reviews third-party products independently.
"Sovereignty" rating: score computed on privacy/anonymity (30%), fund control (20%), censorship resistance (20%), trustless/auditability (20%) and costs (10%). Same data, different weights.
FAQ
What are Luno's fees?
On Luno, spot fees are maker 0.1% / taker 0.1%. They drop with monthly volume and VIP tier.
Is Luno regulated in Europe?
Regulatory status of Luno: FSCA (SA); BNM (Malaysia). Licence: FSP Sud Africa + FCA UK (ZA).
Does Luno publish Proof of Reserves?
Proof of Reserves publication is not documented for Luno. No third-party reserve audit is documented. Reserve transparency is a critical factor after the FTX collapse.
Can I send transfers to third-party IBANs from Luno?
No, Luno is an exchange and does not allow transfers to third-party IBANs: fiat withdrawals return to a bank account in your own name.
Does Luno support derivatives and futures?
Luno does not offer derivatives: it focuses on spot trading.
Sources
- Official service page Maker/taker fees · Regulatory framework · Derivatives · Bug bounty · +1 Data verified on Jun 15, 2026
- businesswire.com Legal name · Company type Data verified on Jun 15, 2026
- cer.live Certifications Data verified on Jun 15, 2026
- finextra.com Proof-of-Reserves Data verified on Jun 15, 2026
Show 8 more sources
- guide.luno.com OAM Italy registry · Geo restrictions · Deposit methods · Proof-of-Reserves Data verified on Jun 15, 2026
- techcentral.co.za Investors Data verified on Jun 15, 2026
- techpoint.africa Proof-of-Reserves Data verified on Jun 15, 2026
- tracxn.com Stock ticker · Stock listing · IPO date · Latest funding round Data verified on Jun 15, 2026
- bitdegree.org Staking & Earn · Past incidents Data verified on Jun 13, 2026
- himalayas.app Founders · Geographic availability · Third-party audit Data verified on Jun 13, 2026
- liquidityfinder.com Trading pairs · 24h volume · Volume data · Max leverage Data verified on Jun 13, 2026
- trustpilot.com Trustpilot reviews Data verified on Jun 13, 2026