Luno Review: Users Report Blocked Withdrawals on an Unregulated 'Suspicious Clone'

Luno operates at lunomte.cc and advertises crypto, forex, and perpetual and delivery contracts on MetaTrader 5. WikiFX scores it 1.78 out of 10, and its profile describes the platform as unregulated and flags it as a “suspicious clone.” Here is what the data confirms and what to verify before depositing.

Basic Information

The profile lists the company as “lunomte.cc,” a recently established platform based in China, with no specific founding date confirmed. Note that this site should not be confused with any well-known company sharing the Luno name; several users allege it impersonates the established Luno crypto exchange.

Regulation and Safety

WikiFX found no regulatory information for Luno: the safety data shows no active licences, and the profile states the platform is unregulated. A licensed broker is normally subject to capital requirements, client-fund segregation, and dispute resolution, while an unregulated platform typically offers none of these protections. No regulatory disclosures or warnings were returned either.

Trading Platform and Products

Despite that gap, the platform advertises a broad product range, listing cryptocurrencies, foreign exchange, and perpetual and delivery contracts, all on MetaTrader 5. MT5 is a legitimate, widely used third-party terminal, but its availability does not mean the broker is licensed or that client funds are protected. The profile also mentions an app and online support, though its fee structure is described as unclear.

Complaints and User Feedback

Complaints on WikiFX follow a consistent pattern: deposits are accepted, small withdrawals may succeed, and then larger withdrawal requests are blocked. According to one complaint from Italy, a user who tried to withdraw was told to pay a tax first and, after paying, was asked for an additional “violation fee”; the user reported roughly 55,434 USDT frozen.

Screenshot submitted by the user with the complaint (2024-07)

Another complaint from Australia described the same sequence and reported a frozen balance of around 71,822 USDT, citing a domain at lunomte.xyz. Other users allege the operation changed its name while continuing the same activity, and one complaint says the platform was “pretending to be LUNO.” These are user-submitted accounts, but the repeated theme of blocked withdrawals and demanded tax payments is the key risk signal.

Final Thoughts

The hard data points one way. Luno scores 1.78, no regulatory information was found, and the profile flags the platform as a “suspicious clone” of a better-known name. Against that backdrop, the recurring withdrawal complaints fit a newly launched, unregulated site rather than a licensed broker.

Before depositing, verify the regulator yourself and treat the branding with caution, since users report the platform has changed names. If you do proceed, test with a small amount and a withdrawal first. Check Luno's live score, regulation status and complaint history on the WikiFX App before committing funds.