Luno Forex Broker

AspectInformation Company NameLuno Founded YearWithin 1 year RegulationUnregulated Tradable AssetsCrypto currencies,Foreign exchanges,Permanent,Delivery Trading PlatformMetaTrader 5 Customer SupportOnline customer supportLuno Information Luno is a newly established trading platform, offering a diverse range of tradable assets including cryptocurrencies, foreign exchanges, and both permanent and delivery contracts. It operates on the popular MetaTrader 5 platform, known for its robust functionality and user-friendly interface, and provides online customer support. Despite its versatile offerings, the platform is unregulated, which could pose a risk to traders by lacking standard regulatory protections.Regulation Status Luno is an unregulated trading platform based in China. This absence of regulation may lead to increased financial risks for traders, as it lacks the protective oversight found in regulated environments.Pros and Cons Pros: Luno offers multiple trading instruments on the renowned MetaTrader 5 platform and has its unique app, enhancing mobile trading experiences. Online support is available to assist users. Cons: The platform is unregulated, labeled as a suspicious clone, and has an uncertain fee structure. Additionally, Luno's official website provides limited information, potentially complicating informed decision-making for users. ProsCons Multiple trading instrumentsUnregulated platform(Suspicious Clone) Famous Trading Platform(MT5)Uncertain fee structure Unique Luno APPLimited information on official website Online customer supportMarket Instruments Luno offers cryptocurrencies as one of its tradable assets, allowing users to trade various digital currencies, which are known for their high volatility and potential for significant returns. In the realm of foreign exchanges, Luno provides access to trading major, minor, and exotic currency pairs, attracting traders looking for opportunities in the global forex markets. Permanent contracts are another instrument available on Luno, enabling traders to speculate on the long-term price movements of assets without an expiry date, suitable for those with a longer investment horizon. Lastly, Luno offers delivery trading, where the actual assets are delivered on a specified future date, typically used for commodities or physical goods, providing an alternative for traders interested in tangible assets.Trading Platform Luno utilizes the MetaTrader 5 (MT5) trading platform, which is well-known for its advanced trading capabilities and analytical tools. MT5 supports trading in multiple asset classes including forex, stocks, and commodities. Its user-friendly interface, coupled with powerful charting tools, automated trading systems (Expert Advisors), and customizable indicators, makes it a popular choice among traders looking for an efficient trading experience.Customer Support Luno provides customer support primarily through online channels. This approach ensures that users can receive assistance and resolve their queries conveniently via the platforms digital support system. The availability of online customer support is particularly beneficial for addressing issues in real-time, allowing for a smoother trading experience for users around the globe.Conclusion Luno is a versatile trading platform based in China, offering a range of instruments like cryptocurrencies and foreign exchanges on the advanced MetaTrader 5 platform. Despite its modern trading tools and online support, Luno's lack of regulation and limited website information may pose challenges for users seeking transparency and security. The unique Luno app enhances mobile trading, accommodating traders on the go.FAQs What trading platforms does Luno use？ Luno uses the MetaTrader 5 platform. Is Luno regulated？ No, Luno is not regulated. Can I trade cryptocurrencies on Luno？ Yes, you can trade various cryptocurrencies on Luno.