Comparison of Independent Reserve vs Swyftx [ 2024 ]

The crypto exchanges compared by their commissions, cryptos, security and much more. Here is the Independent Reserve vs Swyftx comparison!

Your expert: Alejandro Borja

independent reserve

Independent Reserve

  • Threenvest valuation: 4/5
  • US legal: No
  • Security: High 4,6/5
  • Mobile App: No
Go exchange

Investing risks losing your money

Your expert: Xavier Tarrasó

Swyftx

Swyftx

  • Threenvest valuation: 4/5
  • US legal: No
  • Security: High 4,6/5
  • Mobile App: No
Go exchange

Investing risks losing your money

Main points

Fees

≤0,50%

Earns

No

Customer service

4/5
≈ 0,06%

Fees

No

Earns

4/5

Customer service


Recommended for

Beginners

Yes

Trading

Yes

Passive income

No

Buy and hold

Yes
Yes

Beginners

Yes

Trading

No

Passive income

Yes

Buy and hold


Comparison of fees

Rating

3.9 – Reasonable fees with strong local support in Australia and New Zealand.
4.0 – Competitive fees with strong local support in Australia and New Zealand.

Level

≤0,50%
≈ 0,06%

Brief explanation

Independent Reserve operates with a tiered fee structure that incentivizes higher trading volumes with progressively lower fees. The standard trading fee starts at 0.50% and can decrease to as low as 0.02% depending on the user’s 30-day trading volume. For deposits, there are no fees for electronic fund transfers (EFT) over AUD 100, and SWIFT transfers are free for amounts over AUD 5,000. Withdrawals to Australian bank accounts are free, while international withdrawals incur a fee of AUD 20. Cryptocurrency withdrawal fees are competitive, with a fee of 0.0003 BTC for Bitcoin, which is significantly lower than the global industry average​​.
Swyftx charges a competitive trading commission which is built into the spreads, typically around 0.6%, making it quite transparent and straightforward. The platform does not charge any deposit or withdrawal fees for AUD transactions, which is a notable advantage for local users. Additionally, Swyftx keeps its fee structure uncomplicated with no hidden charges, allowing traders to easily understand what they will pay when executing trades on the platform.

Independent Reserve

independent reserve
Read Independent Reserve review
  • Year Founded: Independent Reserve was established in 2013, making it one of the longest-running cryptocurrency exchanges in Australia. Its longevity in the market is a testament to its reliability and stability​​.
  • Reputation and Reviews: With over a decade of operation, Independent Reserve has built a strong reputation among users for its reliability and customer service. It has consistently received positive reviews and high ratings for its security, user experience, and customer support​​.
  • Regulation and Compliance: The exchange is registered with AUSTRAC (Australian Transaction Reports and Analysis Centre) and complies with stringent anti-money laundering (AML) and counter-terrorism financing (CTF) regulations. This regulatory adherence ensures a high level of trust and security for users​​.
  • Customer Service: Independent Reserve offers comprehensive customer support through various channels including email, support tickets, and a well-resourced help center. This ensures that users can get timely assistance for any issues they encounter​​.
  • Security Methods: Independent Reserve employs robust security measures including two-factor authentication (2FA), encryption of sensitive data, and cold storage for the majority of its cryptocurrency holdings. The exchange also conducts regular security audits and penetration testing to identify and mitigate potential vulnerabilities​​.
  • Pros
  • Strong adherence to regulatory standards.
  • High level of platform security.
  • User-friendly interface for beginners.
  • Cons
  • Limited selection of cryptocurrencies.
  • No margin trading available.

Read Independent Reserve review

Swyftx

Swyftx
Read Independent Reserve review
  • Year Founded: Since its establishment in 2018, Swyftx has quickly grown to become a key player in the Australian cryptocurrency market. This rapid growth and sustained presence highlight its stability and enduring appeal to users.
  • Number of Users: Swyftx boasts a large user base, which is a testament to its popularity and trustworthiness. A significant number of users also suggests a high level of satisfaction and reliability.
  • Security Methods: Swyftx employs robust security measures including two-factor authentication (2FA), biometric logins, and custom withdrawal whitelist settings. These features ensure that users' funds and data are protected against unauthorized access.
  • Trading Volume and Liquidity: The exchange has a high trading volume and liquidity which ensures that users can buy and sell their assets easily without a significant impact on the prices, which is crucial for both new and experienced traders.
  • Reputation and Reviews: Swyftx has garnered positive reviews for its user-friendly interface, responsive customer service, and transparent fee structure. Its reputation within the Australian market is strong, with many users recommending it for both beginners and experienced traders.
  • Pros
  • User-friendly interface
  • Extensive cryptocurrency support
  • Competitive trading fees
  • Cons
  • Limited international availability
  • Higher market spread

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Product selection

Native token

No
No

Earns

No
No

NFT marketplace

No
No

Cripto/debit card

No
No

Company information

Full name

Independent Reserve Pty. Ltd.
Swyftx Pty Ltd.

Regulation

Regulated in Australia
Regulated in Australia

Year founded

2013
2017

Founder

Adam Tepper
Alex Harper

Payment methods

Transfers

Yes
Yes

Mastercard

No
Yes

Wire transfer

Yes
Yes

Card

No
Yes

Comparative table

Independent Reserve FEATURES Swyftx
Minimum trade amounts at Independent Reserve are relatively low, making it accessible for new investors.
Minimum Trade
Swyftx allows for relatively low minimum trades, making it accessible for beginners who wish to start small.
Fees are moderate compared to other exchanges, but some users might find them slightly higher for smaller trades.
Trading and Transaction Fees
The platform has competitive fees, lower than many of its local competitors, though slightly higher than global exchanges.
Independent Reserve supports a decent range of popular cryptocurrencies, providing enough options for most investors.
Number of Cryptocurrencies
Swyftx offers a wide selection of cryptocurrencies, catering to traders interested in both popular and less-known coins.
The exchange offers a fair selection of crypto-to-crypto pairs, though not as extensive as some larger platforms.
Crypto-to-Crypto Trading Pairs
Offers a robust range of trading pairs, enabling flexible trading strategies across various digital assets.
The website is user-friendly and transparent about fees, regulations, and available services.
Website Transparency
The Swyftx website provides clear, detailed information on fees, policies, and trading options, aiding users in making informed decisions.
Independent Reserve does not offer a card for in-store purchases.
Credit/Debit Card
The Swyftx crypto debit card seamlessly converts cryptocurrencies to fiat for easy everyday transactions, with added benefits such as reward points on purchases.
Offers secure storage options, including insurance for stored assets, enhancing user confidence in the platform’s safety.
Storage Offering
Provides secure storage options, though it’s always recommended users keep large amounts in personal wallets for added security.
Independent Reserve does not have extensive staking or rewards programs compared to some other exchanges.
Staking and Rewards
Offers staking options but with fewer choices and rewards compared to leading competitors.
Both mobile and desktop platforms are well-designed, ensuring a seamless trading experience across devices.
Mobile App and Desktop
Both mobile and desktop platforms are highly rated for their user-friendly interfaces and functionality.
Customer service is responsive, though there is room for improvement in speed and availability during peak times.
Customer Service
Generally responsive and helpful customer service, but peak times can see slower responses.
Deposits and withdrawals are processed efficiently, with multiple options available, although some methods might incur fees.
Deposit and Withdraw
Deposits and withdrawals are generally efficient, though some users report delays during high-demand periods.

Key features

Analysis tools

Basic charting tools
Advanced charting tools, technical analysis

Mobile APP

No
No

Security

High 4,6/5
High 4,6/5

Additional features

OTC trading, SMSF services, staking, insurance options
Staking, fiat on/off ramps, Swyftx Earn, demo mode

Anonymity

No
No

Key points

Available cryptocurrencies

20+
300+

User-friendliness

Independent Reserve offers a user-friendly platform that is easy to navigate, making it suitable for beginners. The interface is designed to facilitate a smooth trading experience with all necessary features easily accessible.
Swyftx features an intuitive and user-friendly interface that is easy to navigate, making it suitable for beginners. The platform focuses on providing a seamless trading experience.

Value for money

Delivers good value for money with competitive fees and strong security features, suitable for Australian and New Zealand users.
Delivers good value for money with competitive fees and strong local support in Australia, making it a good choice for regional users.

Countries of operation

Australia, New Zealand, Singapore
Australia, New Zealand

Best for

Best for Australian and New Zealand investors looking for a reliable platform with competitive fees and strong security.
Best for Australian and New Zealand investors looking for a user-friendly platform with competitive fees and strong local support.

Base currencies available

AUD, NZD, USD, BTC
AUD, BTC

Account

Trading

Independent Reserve is a popular exchange in Australia and New Zealand, offering a user-friendly platform and easy fiat integration. It supports a decent range of cryptocurrencies but has higher fees.
Swyftx is a popular exchange in Australia, offering a user-friendly platform and easy fiat integration. It supports a wide range of cryptocurrencies and competitive fees but lacks some advanced trading features.

Deposit and withdrawal

Independent Reserve is popular in Australia and New Zealand, offering easy fiat and cryptocurrency deposit methods. Withdrawals are processed efficiently, with competitive fees.
Swyftx is popular in Australia, offering easy fiat and cryptocurrency deposit methods. Withdrawals are processed efficiently, with competitive fees.

Account opening process

Independent Reserve provides an easy and user-friendly account opening process. Users need to provide personal information and verify their identity. The process is efficient and usually takes less than a day to complete.
Swyftx provides an easy and fast account opening process. Users need to provide personal details and verify their identity. The process is fully digital and usually completed within a day.

KYC required?

Yes
Yes

Customer Service

Independent Reserve provides extensive customer support via email, live chat, and phone. The support team is responsive and available 24/7, making it reliable for users globally.
Swyftx provides support through email and live chat. The support team is responsive and available 24/7, making it reliable for users in Australia and beyond.

Security

Independent Reserve employs comprehensive security measures, including 2FA, encryption, and cold storage. It is regulated by Australian authorities, ensuring high security for investors.
Swyftx ensures security through 2FA, encryption, and cold storage. It is regulated by Australian authorities, providing a secure environment for investors.

Which of these exchanges is for you?

alejandro-borja-analista-de-brokers.webp

Alejandro Borja

As an expert in cryptocurrency exchanges, I can confidently recommend Independent Reserve for several reasons. This platform excels in security and regulatory compliance, ensuring that your investments are protected. It supports multiple fiat currencies, making it accessible for users in Australia, New Zealand, and Singapore. While its selection of cryptocurrencies is somewhat limited, it offers a user-friendly interface and excellent customer support, making it ideal for beginners. For those prioritizing safety and reliability in their crypto trading experience, Independent Reserve is a solid choice.
Xavier-tarraso-mascarell.jpg

Xavier Tarrasó

As a cryptocurrency investment analyst, I find Swyftx to be an excellent choice for those new to the crypto market or looking for a user-friendly trading experience. The platform offers a wide range of cryptocurrencies and has a straightforward, easy-to-navigate interface that simplifies trading. While it could improve its offerings for more seasoned traders by adding advanced trading tools, for most users, Swyftx provides a reliable and secure environment to start their cryptocurrency investment journey. If you’re based in Australia, I highly recommend considering Swyftx as your go-to exchange.

View all comparisons against Independent Reserve

View all comparisons against Swyftx

How do we review crypto exchanges?

At Threenvest, we conduct a thorough review process to evaluate and rank the world’s leading crypto exchanges. Our goal is to offer an unbiased assessment, providing you with the information you need to make informed decisions on which ones best suit your needs. We strictly adhere to the guidelines of our editorial policy.

 

We collect data directly from exchanges through detailed questionnaires and conduct first-hand testing and observations during crypto exchange demonstrations. Questionnaire responses, combined with demonstrations and hands-on research from our experts, feed into our proprietary evaluation process that scores each provider’s performance on more than 15 factors. The end result produces star ratings ranging from poor (one star) to excellent (five stars).


For more details on the categories considered when rating brokers and our process, read our full methodology.

Risk Disclaimer

Investing in cryptocurrencies is very risky, you should only invest the money you are willing to lose. Also you should not expect to be protected if something goes wrong.

Neither Threenvest, nor the author, are recommending you to invest with this article.

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