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vs 
Luno vs Rain: 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 Luno is licensed by FSCA, BMA, SC Malaysia, and OJK.
- Only Rain is licensed by CBB, FSRA (ADGM), and VARA.
Side by side
| Criterion | Luno | Rain |
|---|---|---|
| Rating | ||
| Regulators | FSCA, BMA, SC Malaysia, OJK | CBB, FSRA (ADGM), VARA |
| Proof of reserves | published | not published |
| Deposits and withdrawals | Bank transfer, Visa / Mastercard | Bank transfer, Visa / Mastercard |
| Available only in | Bermuda, Indonesia, Malaysia, Nigeria, South Africa, Uganda +2 | — |
| Spot trading fees | — | maker 0%, taker 0.05% |
| Founded | — | 2017 |
| Headquarters | — | Bahrain |
| Read review | Read review |
Frequently asked questions
Which regulators license Luno and Rain?
Luno is licensed by FSCA, BMA, SC Malaysia, and OJK; Rain by CBB, FSRA (ADGM), and VARA.
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