Wirex vs Luno: Fees, Security, Features & Which to Choose (2025)

Trying to choose between Wirex and Luno This side-by-side comparison reveals total cost (fees + spreads), security & licenses, coins/derivatives, deposits/withdrawals, and app quality. In 2 minutes you’ll see who wins for beginners, active traders, and long-term holders. Clear pros/cons, a quick verdict, and safe links to get started.

Last updated on August 16, 2025

Wirex

Luno

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Available Countries

United States

Yes

Europe

Yes

Latin America

Yes

India

China

Canada

Yes

United Kingdom

Yes

United States

Yes

Europe

Latin America

India

China

Canada

Yes

United Kingdom

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Wirex is ideal if:

Seamless multi-currency spending: Manage both crypto and fiat in one app, with real-time conversions and no FX charges whenever you use the Wirex debit card—even abroad.
Simple yet rewarding daily use: Tap into automated rewards like crypto cashback and easy-to-use savings tools, all wrapped in an intuitive, user-friendly interface built for everyday transactions.
Straightforward crypto access: Buy, store, exchange, and spend top cryptocurrencies—all in a unified, mobile-first platform that minimizes complexity for regular users.

Luno is ideal if:

Excellent for beginners – Luno’s interface and mobile app are clean, intuitive, and built with simplicity in mind, making crypto entry easy and user-friendly.
Strong security and compliance – With features like deep-freeze storage and a regulation-first approach, Luno prioritizes the safety and trustworthiness of user investments.
Designed for local currency users in emerging markets – Ideal if you want to trade using your local fiat or participate in markets underserved by bigger exchanges.

Wirex isn’t ideal if:

Not for heavy institutional users: Transaction and ATM withdrawal caps may frustrate those handling large volumes or needing high-limit flexibility.
Limited appeal for advanced traders: The platform focuses on simplicity and lacks deep trading tools or broad asset variety for seasoned crypto professionals.
Potential support or availability hurdles: Region-based restrictions and occasional delays in resolving account issues could hinder seamless access and smooth customer service.

Luno isn’t ideal if:

Limited asset variety – If you seek a broad selection of cryptocurrencies or niche altcoins, Luno’s offering may feel too narrow for you.
Few advanced trading features – Traders who need margin, derivatives, social or P2P trading tools may find Luno’s functionality too basic.
Restricted geography – If you’re located outside its supported regions—or in underserved markets—Luno may not serve you fully or at all.

Fees & Total Costs

Spot Maker/Take

Wirex applies a flat trading fee—both maker and taker orders on spot are charged the same rate of approximately 0.20 % per trade, with no tiered volume discounts or token-based reductions.

Maker and taker fees adjust based on your rolling 30-day trading volume—makers generally pay no fees while takers see reduced fees at higher tiers, with no discount tied to any native token.

Futures/Derivatives

Wirex does not offer futures or derivatives trading, so maker, taker, or funding rate data are not applicable.

Luno currently does not support futures or derivatives trading, so there are no maker/taker or funding fees to consider.

Average Spreads on Liquid Pairs

Wirex sources liquidity via over-the-counter or interbank channels, offering exchange rates that reflect market-leading rates with competitive—but variable—spreads depending on live liquidity.

Luno maintains competitive, tight spreads on major crypto-fiat pairs thanks to strong liquidity, but exact spread values vary and are shown in real time during your transaction.

Fiat Deposits & Withdrawals

Fiat funding methods include free SEPA (EUR), Faster Payments (GBP), ACH (US), and PIX (Brazil), with fast processing time and no fees, while card top-ups typically incur around a 1 % charge depending on region.

You can deposit or withdraw fiat through local bank transfers, cards, and other methods specific to your jurisdiction; most deposits are free, withdrawals involve your bank’s processing time and possible nominal charges, and timing depends on your region.

On-chain Withdrawals

Wirex does not charge its own fee; however, external wallet transfers are subject to network fees only, which fluctuate based on blockchain congestion.

Withdrawals in crypto (e.g. BTC, ETH, TRX) use dynamic fees based on current blockchain congestion plus minimal operational cost—there’s no flat fee.

Hidden Costs

Potential indirect costs include exchange rate margins on OTC conversions, fees for card top-ups from credit/debit cards, and an administrative fee (around GBP 30) for account closures that violate terms—these are not always obvious upfront.

Luno is clear about fees, but you may face currency conversion costs if depositing or withdrawing in a diff

Real-World Cost Example: “€500 BTC

For a €500 BTC purchase, you’d pay a spot trading fee of ~0.20 %, plus live OTC spread embedded in the rate—if you then withdraw BTC on-chain, you’d pay only the blockchain’s variable fee (Wirex doesn’t add extra charges).

If you plan to buy €500 worth of BTC, the total cost would include a small taker fee (unless using a maker order), a modest spread embedded in the quoted price, and a dynamic blockchain fee when withdrawing—all of which are clearly shown before you confirm the transaction.

Crypto Offering & Trading Features

Number of Coins & Pairs

Wirex supports around 30–37 cryptocurrencies globally (and about 9 on its dedicated exchange), including Bitcoin, Ethereum, Litecoin, Dai, Nano, XRP, Stellar, Waves, and WXT; the top 20 pairs by volume would naturally include those with major liquidity like BTC/USD, ETH/USD, and other mainstream tokens.

Luno currently offers around 18 cryptocurrencies, with roughly 114 trading pairs available; the top 20 by volume typically include major ones like BTC, ETH, XRP, SOL, ADA, USDT, USDC, LTC, DOT, AVAX, and LINK.

Product Range

The platform is built around spot trading, flexible earning products like X-Accounts and DUO (short-term fixed-return pools), crypto-to-fiat spending via its debit card, and multi-currency wallets—but it does not offer margin, perpetuals, options, ETFs, copy trading, grid bots, or DCA automation.

Only spot trading is available—there’s no margin, futures/perpetuals, options, crypto ETFs, copy trading, or grid bots; Luno does offer straightforward staking and has a recurring buy (DCA) feature, but lending or advanced products aren’t supported.

Liquidity

Wirex uses OTC and interbank channels for liquidity, offering live market rates with generally smooth execution—but it does not publicly publish 24-hour trading volume or detailed order book depth for BTC or ETH.

While exact numbers aren’t public, Luno maintains solid liquidity on top pairs, contributing to tight spreads; 24-hour trading volumes usually fall in the tens of millions USD range, indicating healthy order book depth for basics like BTC and ETH.

Tools

Users get a mobile-optimized interface with basic order types (market, limit), real-time charts, price alerts, but there’s no advanced charting like native TradingView, nor official API or WebSocket endpoints for automation.

Luno supports standard spot order types like limit and stop-limit, enables price alerts, includes basic charting (with TradingView embedded), and offers API and WebSocket access for automated or programmatic trading.

Geographic Restrictions by Product

Derivatives and advanced trading features are limited or unavailable in certain regions—for example, U.S. users have access only to basic crypto buying/selling and wallet functions; higher-tier products remain restricted based on local regulatory allowances.

Derivatives and advanced trading tools are not offered anywhere, as Luno is strictly spot-only; availability of certain trading pairs and features also depends on the user’s country or regulatory region.

Innovation

Wirex offers investment innovations like X-Accounts for flexible interest and DUO for fixed-return digital pair products; it also integrates cashback with its card and live OTC rates, but it doesn’t feature launchpads, launchpools, or staking in the traditional sense.

Luno includes simple staking for a select set of assets like SOL, ADA, and ETH, with flexible unstaking and weekly payouts; they don’t offer complex launchpad programs or a variety of flexible-vs-locked “earn” products.

Security, Regulation & Custody

Operating Entity & Jurisdiction

Wirex’s legal structure includes distinct entities such as Wirex Limited (established in the UK), Wirex USA Inc. (Delaware), Wirex Australia Pty Ltd (Sydney), and others; the original parent company dates back to 2014.

Luno is operated by Luno Group Holdings Limited, founded in 2013, with its main legal headquarters in London, UK, and maintains regional corporate entities across jurisdictions like Malaysia, South Africa, Nigeria, Australia, Indonesia, Uganda, and the UK.

Licenses/Registration

Wirex is regulated for fiat services—for example, Electronic Money Regulation permissions via the UK’s FCA and registration with AUSTRAC in Australia—while crypto service operations adhere to AML and fraud prevention norms even when crypto licensing is not applicable.

The platform holds official registrations with local regulators—such as the Securities Commission of Malaysia, AUSTRAC in Australia, BAPPEBTI in Indonesia, Nigeria’s Financial Intelligence Unit, South Africa’s FIC, and the UK’s Financial Intelligence Unit—demonstrating robust compliance across its operating markets.

Custody

Funds are held using Fireblocks’ MPC-based wallet infrastructure with multi-signature and time-locked withdrawals; most crypto assets are kept in secure cold storage; although formal Proof of Reserves or detailed audit reports are not publicly disclosed.

Luno uses a hybrid custody model involving both in-house controlled addresses and third-party custodial partners. It publishes independently audited proof-of-reserves using a Merkle tree methodology, showing assets fully covering all customer liabilities, often above 100% coverage.

Insurance & Protection Funds

No public insurance scheme is mentioned for digital assets, nor a segregated compensation fund; protection stems largely from internal fraud detection systems and robust custody protocols.

While Luno does not publicly list an insurance policy for user funds, its operational model focuses on strong custody practices and regulatory oversight rather than explicit insurance coverage.

Incident History

There are no public records of successful hacks or major service suspensions; Wirex has maintained a clean security track record without regulatory fines or platform-wide freezing incidents.

Luno has maintained a clean safety record, with no major hacks or regulatory penalties reported. Its platform continuity has been uninterrupted, and user wallet freezing or account issues are not prevalent.

Risk Controls

Security tools include mandatory 2FA, strong customer authentication, device whitelisting, biometric and PIN locks, multi-signature approval on large transfers, dark web monitoring, and automated fraud risk detection systems.

Luno enforces industry-standard security measures including two-factor authentication (2FA), address whitelisting, anti-phishing code support, and granular API permissions; it also integrates advanced geolocation risk detection to prevent spoofing and unauthorized access.

Transparency

While Wirex regularly undergoes third-party security audits and maintains compliance standards like ISO 27001 and PCI DSS, it doesn’t publish monthly proof-of-reserve statements or public wallet addresses, and there’s no explicit SLA visible for uptime or service responsiveness.

The platform emphasizes transparency through its regular proof-of-reserves audits, maintains risk and compliance reporting internally, yet does not publish public monthly wallet activity reports or formal SLAs—its transparency centers on audit-backed proof and internal governance.

Deposits, Withdrawals, KYC & Support

Fiat Deposit Methods

Wirex allows fiat funding through bank transfers (including IBAN for EUR and SEPA, Faster Payments for GBP), debit/credit cards, and select e-wallets—amount thresholds and processing times vary by region, with card top-ups processed instantly and bank transfers typically completing within 1–2 business days.

You can deposit fiat via bank transfers (including instant methods like PayID or FPX, where available), debit or credit cards in select regions, and even vouchers in some countries; minimums and maximums depend on your verification level, and funding can be instant or take up to a few business days depending on your bank and country.

Supported Fiat Currencies & Conversion

KYC (Verification Levels)

Wirex uses a tiered verification approach—unverified accounts offer minimal functionality, while verified users (identity verified) gain access to higher transaction and funding limits aligned with regional regulatory standards.

Account verification progresses through three levels—Level 1 (basic details), Level 2 (ID and selfie), and Level 3 (proof of residence and source of funds)—with each unlock offering higher deposit, trading, and withdrawal limits, often culminating in virtually unlimited access once fully verified.

Withdrawals

Fiat withdrawals are subject to regional limits and processing speeds, while on-chain crypto withdrawals utilize standard blockchain networks (e.g., BTC, ETH via their native chains), with processing time and fees set by the network and no added Wirex fee.

Fiat withdrawals must go to a bank account in your name, are subject to minimums and maximums per region tied to your KYC tier, and typically clear within standard banking times; crypto withdrawals are conducted over relevant networks (e.g., ERC20, TRC20) and use dynamic blockchain-based fees.

Customer Support

Support is available via email and an in-app help center; response times vary by inquiry but typically range from a few hours to a business day, complemented by an extensive knowledge base for self-service. (No direct citation possible but based on platform structure)

Luno offers 24/7 assistance via an in-app digital assistant (Toshi) or email, supplemented by a thorough FAQ and Help Centre; response times vary, but many users resolve routine queries quickly through the knowledge base before reaching out directly.

Languages & Localization

Wirex operates primarily in English but displays amounts and communicates in local currencies (€, $, £, etc.), and the platform adapts to regulatory requirements per region to ensure compliance and clarity for local users.

The platform supports native English (and other regional languages) and displays fees and balances in your local fiat (EUR, USD, ZAR, etc.), ensuring clarity and compliance with local regulatory frameworks in supported jurisdictions.

App Quality & Stability

The mobile app is polished and stable—no widespread outage or crash issues reported recently—with active maintenance and updates, and real-time system health monitoring indicating consistent operational performance.

Luno’s mobile and web apps are known for stability and frequent updates. While specific crash-rate statistics are not disclosed, the apps maintain a smooth user experience with regular enhancements and minimal downtime reported.

Experience, Performance & Ecosystem

UX/UI

Wirex delivers a clean, mobile-first interface that’s intuitive for beginners; it doesn’t offer distinct “Lite” or “Pro” modes, instead keeping a single streamlined layout that balances simplicity with access to core tools.

Luno offers a clean, intuitive interface ideal for beginners, alongside a slightly more detailed layout—not an explicit “Lite/Pro” toggle, but it achieves a simple-to-advanced feel within a single platform.

Performance

Order execution is generally swift with low latency under normal conditions, though during sudden market surges the simplistic UI may lag slightly; identity verification queues can become longer when crypto markets heat up, potentially delaying account activation.

Execution is generally swift with minimal latency under normal conditions; while occasional slowdowns may occur during sharp market spikes or KYC surges in bull runs, Luno’s infrastructure handles typical volume reliably.

Education

Wirex doesn’t offer a dedicated academy or trading simulator, but supports learning through blog guides, help articles, and statement exports to feed into tax platforms—though resources in Spanish remain limited compared to English.

Luno provides a robust Help Centre and educational articles for crypto basics, but it lacks a demo or simulator; Spanish-language support may be limited depending on your region, with most guidance in English.

Community

Wirex fosters engagement through its built-in referral program—users earn rewards when referred contacts deposit into X-Account Plus—and maintains active presence via its blog and help center, but it lacks a branded Discord or Telegram community forum.

The platform supports a referral program that rewards both parties in Bitcoin, and runs an ambassador program for content creators—though it doesn’t maintain dedicated forums or public Telegram/Discord communities.

Integrations

While Wirex doesn’t embed TradingView or support external trading bots, it enables export of transaction data and supports seamless integration with tax tools like Koinly and Blockpit for accounting and tax filing.

While Luno embeds TradingView for charting, it doesn’t support external bots; however, it integrates smoothly with top crypto tax tools like Koinly, Recap, CoinLedger, and other accounting platforms.

Who Each One Is Best For

Wirex suits everyday users who want crypto integrated into daily finance—spending, saving, and simple investing—rather than power users seeking advanced charting, bots, or simulation tools.

Luno is best suited for casual or beginner crypto users who prioritize simplicity, regulatory clarity, and basic staking—not ideal for traders seeking advanced automation, simulators, or robust community interaction.