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Luno vs Nexo

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Luno vs Nexo Comparison Table 2024
Luno Nexo
Review
2

Luno is #29 in our crypto broker rankings.

Review
3.9

Nexo is #21 in our crypto broker rankings.

United States Flag Traders from US accepted
United States Flag Traders from US accepted

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.

Nexo is a centralized crypto exchange founded in 2018 in Bulgaria and today operates across some 200 jurisdictions from its base in Switzerland. It provides services including spot trading, futures trading, peer-to-peer loans, cold wallet storage and fiat-on ramps to buy crypto tokens. The crypto firm is registered with some respected financial authorities, such as the ASIC, and offers some fairly unique additional services including a credit card.

Bonus Offer
Loyalty scheme with various bonuses, plus referral program and bonus paid to lenders on credit line
Comment by Reviewer
"Luno will appeal to beginners looking to trade popular cryptocurrencies on a user-friendly mobile app and web platform." "Nexo gives crypto traders the capability to trade, invest, lend and borrow digital assets in one place, and it’s especially good for its credit functions that pay out very high yields to lenders. However, its fees are relatively high and many day traders will prefer a more tightly regulated crypto broker."
Pros
  • 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
  • Reputable crypto exchange that has been in business since 2018 and has taken some steps toward regulation
  • Nexo Pro is a user-friendly proprietary platform that suits day trading strategies with great charting features
  • Value-add tools integrated into the trading platform including social media analysis and newsfeeds by asset
  • Traders can access perpetual futures to open long or short positions on crypto assets, increasing strategic opportunities
  • Nexo’s crypto staking and credit features support crypto lending and borrowing, and the yields lenders receive are among the best going
  • Traders benefit from bonuses and incentives including free trading funds paid to lenders and cashback in the form of the exchange’s native Nexo token
Cons
  • 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
  • Although Nexo has registered with some reputable watchdogs, it is riskier to trade with than established crypto brokers like AvaTrade and Vantage
  • High deposit and withdrawal fees for cards and e-wallets will price many traders out of the most convenient payment methods
  • Very few educational resources are available, reducing its appeal to beginners who can find more helpful resources at category leaders like eToro
  • High maker/taker fees mean day traders will pay more to trade derivatives than they would at rival exchanges like Binance
  • The range of tokens is extensive compared to most crypto brokers but still much smaller than similar crypto exchanges like Kraken
Awards
  • Best Cryptocurrency Wallet – FinTech Breakthrough Awards, 2023
  • Best Use of Crypto and/or Blockchain in Financial Services – PAY360 Awards, 2022
Instruments
Cryptos Cryptos
Demo Account
No No
Minimum Deposit
£1 $10
Trading Platforms
  • Own
  • Nexo Pro
Payment Methods
Minimum Trade
£10 $30
Margin Trading
No Yes
STP Account
No No
ECN Account
No No
DMA Account
No No
MAM Account
No No
PAMM Account
No No
LAMM Account
No No
Demat Account
No No
AI / Machine Learning
No No
Robo Advisor
No No
Negative Balance Protection
No No
Market Maker
No No
P2P Trading
No No
Spot Trading
No Yes
Mobile Apps
iOS & Android iOS & Android
Android App Rating
4
iOS App Rating
3.8
Copy Trading
No No
Social Trading
No No
VPS Hosting
No No
Tournaments
No No
Demo Competitions
No No
Ethical Investing
No No
Custodial Account
No No
Guaranteed Stop Loss
No No
Islamic Account
No No
Account Currencies
  • USD
  • EUR
  • GBP
Cryptocurrency
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. Nexo offers trading on an impressive suite of around 70 tokens, including Bitcoin. Digital assets can be bought, sold and swapped directly on the exchange or traded in over 500 pairs. Digital assets can also be used as collateral for fiat loans or used to generate passive income with the ‘smart staking’ tool or from interest earned via peer-to-peer loans.
Spread
Variable N/A
Coins
  • BTC
  • ETH
  • LTC
  • XRP
  • BCH
  • USDC
  • BTC
  • ETH
  • NEXO
  • USDT
  • USDC
  • AXS
  • RUNE
  • MATIC
  • DOT
  • APE
  • AVAX
  • KSM
  • ATOM
  • FTM
  • NEAR
  • BNB
  • ADA
  • SOL
  • XRP
  • LTC
  • LINK
  • BCH
  • TRX
  • XLM
  • EOS
  • PAXG
  • UNI
  • DOGE
  • MANA
  • SAND
  • GALA
  • SUSHI
  • AAVE
  • CRV
  • MKR
  • 1INCH
  • DAI
  • USDP
  • TUSD
Crypto Lending
Yes Yes
Crypto Mining
No No
Crypto Staking
No Yes
Auto Market Maker
Yes No
Review
Review