Established in 2013, Luno has a mission to make crypto investments simple and accessible for all. The brand has a customer base of 9+ million across 43 countries. Trading fees are competitive, with no market maker charges and access to popular tokens like Bitcoin.
Moomoo is an SEC-regulated app-based investment platform that offers a straightforward and affordable way to invest in Chinese, Hong Kong, Singaporean, Australian and US stocks, ETFs and other assets. Margin trading is available and the brand offers a zero-deposit account as well as several bonuses.
"Luno will appeal to beginners looking to trade popular cryptocurrencies on a user-friendly mobile app and web platform."
"Moomoo remains an excellent choice for new and intermediate stock traders who want to build a diverse investment portfolio. What really stands out is the broker's user-friendly app and the low trading fees."
Instant Trade, savings wallets, and crypto transactions supported
Third-party proof of reserves audits available to view
Transparent fee structure with zero market maker charges
Market news, insights and educational content available
'Deep Freeze' multi-signature wallets to store cryptos
High liquidity and high-speed platform so the spreads are kept low
Simple and easy-to-use interface
It is reassuring that Moomoo holds licenses with the US Securities and Exchange Commission (SEC) and the Monetary Authority of Singapore (MAS), among others
Moomoo is a Member of FINRA and the Securities Investor Protection Corporation (SIPC), adding another level of security for prospective clients
The ‘Moomoo Token’ generates dynamic passwords for transaction security - a unique and helpful safety feature
Moomoo's analytics and insights are impressive and detailed compared to other brands
There is no minimum deposit requirement making the broker accessible for beginners
The broker offers access to extended pre-market trading hours
There are reduced options contract fees from $0.65 to $0
Very narrow range of cryptos with up to 11 tokens available that varies by jurisdiction
Poor payment methods with restrictions in some countries
Below average customer support with no live chat or telephone
Limited analysis tools and features for seasoned traders
Not regulated or insured, raising safety concerns
There is no negative balance protection, which is a common safety feature at top-tier-regulated brokers
It's a shame that there is no 2 factor authentication (2FA), despite the other security features on offer
There is no phone or live chat support - common options at most other brokers
Luno supports cryptocurrency trading, staking and transferring on major tokens, including Bitcoin, Ethereum, Ripple and Cardano. There are no maker fees and taker fees vary by trading volume starting from 0.10%. 95% of cryptocurrencies are held in 'deep freeze' multi-signature, encrypted wallets.