Bullish vs Luno 2026
Both records check out. What separates them is how you trade.
The case for Bullish rests on tighter spreads, more listed coins (60 vs 45); Luno pulls ahead where a trader weighs specific use cases detailed below more heavily.
Head to head
| Bullish | Luno | |
|---|---|---|
| Primary regulator | GFSC (Gibraltar DLT) Registered | FCA cryptoasset register Registered |
| Regulation tier | offshore | tier-1 |
| Min deposit | None | None |
| Taker fee | 0.1% taker | 0.5% taker |
| Listed coins | 60+ | 45+ |
| Native platform | Standard | Standard |
| Copy trading | No | No |
| Spot self-custody | Custodial | Custodial |
| Inactivity fee | None | None |
| Founded | 2021 | 2013 |
| Headquarters | Cayman Islands | London, United Kingdom |
Regulation: Bullish vs Luno
Bullish operates as Bullish (GI) Limited under GFSC (Gibraltar DLT). This is a lighter-touch registration with fewer customer protections than major frameworks such as the FCA cryptoasset register, MiCA CASP or a NYDFS licence.
Luno operates as Luno Money Ltd under FCA cryptoasset register. This is a recognised registration framework, with customer-asset segregation, AML rules and ongoing compliance obligations.
On the register, Luno carries the heavier record — a FCA cryptoasset register registration from a tier-1 authority.
Trading fees
Bullish's taker fee is 0.1% taker. Luno's taker fee is 0.5% taker. Bullish offers lower trading fees.
Bullish does not charge an inactivity fee. Luno does not charge an inactivity fee.
Platforms and tools
Both Bullish and Luno provide native web and mobile trading platforms.
Neither exchange offers copy trading.
Minimum deposit
Bullish requires a minimum deposit of None. Luno requires None. Both require the same initial deposit.
Keep in mind that the opening figure shifts with account type and with the entity that maps to your country. An offshore book can set the bar below the tier-1 entity.
Which is better for beginners?
Both platforms are accessible to new traders, though neither is specifically designed as a beginner-only exchange.
Which is better for experienced traders?
Bullish's lower fees (0.1% taker) make it better for high-frequency strategies. Bullish lists more coins (60) for portfolio diversification.
Verdict: Bullish vs Luno
Bullish is the record to take if tighter spreads, more listed coins (60 vs 45) is what you are after; its GFSC (Gibraltar DLT) registration (Registered) carries offshore-style latitude.
Luno reads as the better fit for specific use cases detailed below, with a FCA cryptoasset register registration (Registered) that carries the weight of a tier-1 authority.
Both files are genuine and on the register. Which one wins is settled by what you actually need at the terminal.
Frequently asked questions
Bullish vs Luno: which is better?
Bullish is better for tighter spreads, more listed coins (60 vs 45). Luno is better for specific use cases detailed below. If regulation quality is your priority, Luno (FCA cryptoasset register).
Is Bullish or Luno safer?
Luno holds a FCA cryptoasset register licence (Registered) from a tier-1 regulator. Bullish is regulated by GFSC (Gibraltar DLT).
What is the minimum deposit for Bullish and Luno?
Bullish minimum deposit: None. Luno minimum deposit: None. Minimums vary by entity and account type.
Do Bullish and Luno have API access?
Both Bullish and Luno provide native web and mobile platforms.