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

Trying to choose between TradeStation 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 January 2, 2026

TradeStation

Luno

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Available Countries

United States

Yes

Europe

Latin America

India

China

Canada

United Kingdom

United States

Yes

Europe

Latin America

India

China

Canada

Yes

United Kingdom

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TradeStation is ideal if:

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.

TradeStation isn’t ideal if:

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

TradeStation’s crypto spot offering has been discontinued, so volume-based maker/taker pricing and any native token discounts are no longer applicable.

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

Futures on TradeStation feature flat, per-contract maker/taker charges (e.g. Bitcoin futures around $7.50 per side) plus additional pass-through exchange and regulatory fees, with no separate funding rate structure since perpetual contracts aren’t available.

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

TradeStation’s model did not include embedded spreads on spot crypto—prices were transparent and routed through liquidity sources—but with its exit from spot services, spread data is no longer relevant.

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

You cannot deposit or withdraw fiat directly into a crypto account; instead, you need an equities account to convert fiat into crypto, and TradeStation does not charge specific crypto deposit or withdrawal fees.

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

TradeStation historically offered crypto withdrawals without explicit fees set by them—but since spot services are no longer supported, on-chain withdrawal fee structures are not currently relevant.

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

TradeStation was transparent with zero hidden fees for custody, deposits, or withdrawals on crypto; however, general account charges—like currency conversion fees if funding in non-USD, or inactivity fees—may apply through corresponding services.

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

Since TradeStation no longer provides spot crypto trading, this kind of transaction flow—comprising commission, spread, and withdrawal—is not feasible to illustrate in today’s context.

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

TradeStation Crypto supports around 11 digital assets, covering core coins like Bitcoin, Ethereum, Litecoin, USD Coin, and a few others; full pair listings are limited and none extend beyond the most liquid top-20 names.

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

TradeStation offers spot crypto trading and regulated crypto futures (e.g. XRP futures via CME) but does not provide margin, perpetual contracts, options on crypto, crypto ETFs, staking or earn programs, loans, copy trading, grid bots, or automatic DCA features.

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

TradeStation aggregates liquidity from multiple sources via its intelligent routing system, delivering solid execution quality, though specific 24-hour volumes or precise order-book depth data (for BTC/ETH) are not publicly disclosed.

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

The platform features advanced tools such as limit, stop, bracket/OCO orders, customizable alerts, richly featured charts with extensive technical indicators, plus REST and FIX APIs for automation—but does not embed native TradingView.

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

Crypto offerings—including spot and futures—are limited to users in the United States; many advanced products like regulated crypto derivatives are not accessible to users in other regions such as Europe, Latin America, or Asia.

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

TradeStation does not currently offer launchpad or launchpool-style offerings, nor any flexible or locked earning programs like staking or yield products.

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

TradeStation Crypto, Inc.—a subsidiary of TradeStation Group, Inc., itself owned by Monex Group—was established around 2018 and is headquartered in Plantation, Florida, operating under U.S. jurisdiction.

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

The crypto division operated under money transmitter licenses in multiple U.S. states, but lacked specific VASP or MiCA/European registrations, as it was not structured under those frameworks.

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

Crypto assets were held via a third-party custodian (BitGo), with no public proof of reserves, audit disclosures, or specified allocation percentages in cold storage.

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

There was no dedicated crypto insurance or indemnity fund; protections were limited to those applicable to the U.S. financial system (e.g. SIPC doesn’t cover crypto).

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

TradeStation faced regulatory sanctions for its crypto yield program—including a consolidated $3m settlement with the SEC and NASAA—and a separate FINRA fine of $85k for misleading communications; no major security breaches were reported.

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

The platform included layered security like encrypted access, automatic logout, account change alerts, and anti-fraud monitoring systems; however, specific features like withdrawal whitelists, sub-accounts, or segmented API permission sets were not disclosed.

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

There were no publicly available monthly cryptocurrency reports, wallet visibility, or formal SLAs related to crypto; financial safety was presented via reserve disclosures for futures accounts under CFTC rules.

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

TradeStation’s crypto arm doesn’t accept fiat deposits—these must go through a TradeStation Securities equities account via ACH, wire transfer, check, or transfer service, with typical same-day to few-business-day processing depending on method and no specified minimums.

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)

TradeStation requires a standard identity verification (including SSN/ITIN for U.S. users or passport/address proof for international users) during account opening; there are no tier levels publicly described, and trading access is granted post-full KYC, with no stated limitations tied to KYC levels.

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

Crypto withdrawals specify minimum amounts per asset (e.g., BTC 0.0012, ETH 0.018, USDC 50) and are processed only during U.S. business hours, with times varying by blockchain; network fees apply, but there’s no mention of support for multiple networks like TRC20 or BEP20.

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

TradeStation offers a chatbot (TSbot) and FAQ support to assist with common issues, but real-life reviews cite slow response times and occasional difficulty reaching live support; an online knowledge base is available, though 24/7 live chat support isn’t clearly offered.

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

The platform supports multiple languages on its global site, but Spanish-language support and pricing in EUR for crypto context are not explicitly available—its main interface and fee structure are U.S.-centric, so local regulatory or tax settings may vary.

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

TradeStation’s mobile app supports crypto trading for iOS and Android and receives regular updates, but user feedback indicates that while generally stable for advanced users, the platform can feel overly technical and occasionally glitchy, especially for newcomers.

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

The TradeStation interface is highly customizable and powerful, offering a learning curve that leans toward advanced users; however, it does not offer separate “Lite” or “Pro” modes—everything is accessible within the same professional-level platform.

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

TradeStation is known for its strong order execution speed, even during high volatility, thanks to multi-core optimization features—and though KYC delays can occur during major bull runs, the platform itself remains stable and responsive.

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

TradeStation offers a rich educational ecosystem—including webinars, video tutorials, and a dedicated learning center—but it lacks a built-in crypto simulator or demo for practice, and its educational content is primarily in English rather than Spanish.

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

While TradeStation provides a solid online help center and support forums, it does not run official Discord or Telegram groups for community interaction, nor does it feature any active referral or ambassador programs.

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

TradeStation supports powerful APIs for custom trading strategies and compatibility with trading journals and portfolio tools—but does not offer built-in integration with TradingView, external bot marketplaces, tax tools, or structured accounting features.

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

This platform is ideal for experienced, tech-savvy traders who want a high-performance, highly customizable trading environment—but less suitable for beginners seeking simplified interfaces, simulator tools, or Spanish-language support.

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.