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vs 
Independent Reserve vs Luno: fees, licences and P2P
Facts for both companies from their official pages; each was checked on the date shown in its review.
Facts verified on October 18, 2026
Key differences
- Only Independent Reserve is licensed by MAS.
- Only Luno is licensed by FSCA, BMA, SC Malaysia, and OJK.
Side by side
| Criterion | Independent Reserve | Luno |
|---|---|---|
| Rating | ||
| Regulators | MAS | FSCA, BMA, SC Malaysia, OJK |
| Spot trading fees | maker 0.5%, taker 0.5% | — |
| USDT withdrawal | 4 USDT on TRC20, 10 USDT on ERC20 | — |
| Proof of reserves | not published | published |
| Deposits and withdrawals | Bank transfer | Bank transfer, Visa / Mastercard |
| Founded | 2013 | — |
| Available only in | — | Bermuda, Indonesia, Malaysia, Nigeria, South Africa, Uganda +2 |
| Read review | Read review |
Frequently asked questions
Which regulators license Independent Reserve and Luno?
Independent Reserve is licensed by MAS; Luno by FSCA, BMA, SC Malaysia, and OJK.
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