Comparison of Independent Reserve vs Coinex [ 2024 ]

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

coinex

Coinex

  • Threenvest valuation: 3,7/5
  • US legal: No
  • Security: High 4,6/5
  • Mobile App: Yes
Go exchange

Investing risks losing your money

Main points

Fees

≤0,50%

Earns

No

Customer service

4/5
≤0,20%

Fees

Yes

Earns

4/5

Customer service


Recommended for

Beginners

Yes

Trading

Yes

Passive income

No

Buy and hold

Yes
Yes

Beginners

Yes

Trading

Yes

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 additional benefits for token holders.

Level

≤0,50%
≤0,20%

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​​.
CoinEx employs a straightforward and transparent fee structure that appeals to a broad range of traders. The platform charges a flat trading fee of 0.2% per transaction, which is competitive within the industry. This rate applies uniformly to both makers and takers, simplifying the trading process and making it easier for users to understand their potential costs. Additionally, CoinEx offers tiered discounts based on the trading volume and CET holdings, allowing active traders to significantly reduce their fees. This approach not only incentivizes more trading activity but also enhances loyalty to the platform. Overall, the fee policy at CoinEx is designed to support both casual and serious traders effectively.

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

Coinex

coinex
Read Independent Reserve review
  • Security Methods: CoinEx uses an advanced multi-tier, multi-cluster system architecture and a strong set of security protocols to protect users' data and assets.
  • Customer Service: CoinEx provides 24/7 customer support and has a comprehensive FAQ and support system, helping users resolve their issues quickly and efficiently.
  • Reputation and Reviews: CoinEx has maintained a positive reputation within the crypto community, often praised for its user-friendly interface and robust security measures.
  • Transparency: CoinEx is known for being upfront about its trading fees, wallet maintenance, and system upgrades, contributing to a transparent trading environment for its users.
  • Volume Managed and Trading Volume: CoinEx supports a significant trading volume and liquidity, making it a reliable choice for executing large trades without a major impact on the market price.
  • Pros
  • Wide variety of cryptocurrencies supported.
  • Competitive trading fees.
  • User-friendly interface.
  • Cons
  • Limited educational resources.
  • Customer support can be slow.

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Product selection

Native token

No
No

Earns

No
Yes

NFT marketplace

No
No

Cripto/debit card

No
No

Company information

Full name

Independent Reserve Pty. Ltd.
ViaBTC Technology Limited

Regulation

Regulated in Australia
Not regulated

Year founded

2013
2017

Founder

Adam Tepper
Haipo Yang

Payment methods

Transfers

Yes
Yes

Mastercard

No
No

Wire transfer

Yes
No

Card

No
No

Comparative table

Independent Reserve FEATURES Coinex
Minimum trade amounts at Independent Reserve are relatively low, making it accessible for new investors.
Minimum Trade
CoinEx allows for relatively low minimum trade amounts, making it accessible for beginners.
Fees are moderate compared to other exchanges, but some users might find them slightly higher for smaller trades.
Trading and Transaction Fees
Fees are competitive but not the lowest in the market, impacting frequent traders.
Independent Reserve supports a decent range of popular cryptocurrencies, providing enough options for most investors.
Number of Cryptocurrencies
Offers a wide selection of over 500 cryptocurrencies, providing vast trading opportunities.
The exchange offers a fair selection of crypto-to-crypto pairs, though not as extensive as some larger platforms.
Crypto-to-Crypto Trading Pairs
Extensive range of trading pairs, allowing for versatile trading strategies.
The website is user-friendly and transparent about fees, regulations, and available services.
Website Transparency
The website provides clear information on fees and policies but could improve on educational content.
Independent Reserve does not offer a card for in-store purchases.
Credit/Debit Card
CoinEx does not currently offer a branded card for customers to use for in-store purchases or benefits.
Offers secure storage options, including insurance for stored assets, enhancing user confidence in the platform’s safety.
Storage Offering
Offers secure storage options, including cold storage, though details can be more transparent.
Independent Reserve does not have extensive staking or rewards programs compared to some other exchanges.
Staking and Rewards
Provides staking options with competitive rewards, though not as high as some specialized platforms.
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 usability and feature set.
Customer service is responsive, though there is room for improvement in speed and availability during peak times.
Customer Service
Responsive but sometimes slow, especially during high demand periods.
Deposits and withdrawals are processed efficiently, with multiple options available, although some methods might incur fees.
Deposit and Withdraw
Efficient processes with multiple crypto options, though limited fiat options impact the score.

Key features

Analysis tools

Basic charting tools
Basic to intermediate charting tools

Mobile APP

No
No

Security

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

Additional features

OTC trading, SMSF services, staking, insurance options
Margin trading, futures trading, staking, CoinEx token (CET) rewards

Anonymity

No
Yes

Key points

Available cryptocurrencies

20+
100+

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.
CoinEx offers a straightforward and easy-to-use platform that is ideal for beginners. The interface is clean and intuitive, making it easy to navigate and execute trades.

Value for money

Delivers good value for money with competitive fees and strong security features, suitable for Australian and New Zealand users.
Offers good value for money with competitive fees and a diverse range of supported cryptocurrencies, making it an affordable option for traders.

Countries of operation

Australia, New Zealand, Singapore
United States, United Kingdom, Canada, Australia, Singapore

Best for

Best for Australian and New Zealand investors looking for a reliable platform with competitive fees and strong security.
Suitable for traders of all experience levels seeking a platform with a wide range of cryptocurrencies and competitive fees.

Base currencies available

AUD, NZD, USD, BTC
USD, BTC, USDT

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.
CoinEx provides a good selection of cryptocurrencies and competitive fees. It offers advanced trading tools but has moderate liquidity compared to larger exchanges.

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.
CoinEx supports various deposit methods, including bank transfers and crypto. Withdrawals are processed efficiently, usually within a day, with low 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.
CoinEx offers a straightforward and fully digital account opening process. Users need to provide personal information and verify their identity. The process is quick, usually taking less than a day to complete.

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.
CoinEx offers customer support via email and live chat. The support team is responsive and helpful, but the lack of 24/7 support may be a limitation for some users.

Security

Independent Reserve employs comprehensive security measures, including 2FA, encryption, and cold storage. It is regulated by Australian authorities, ensuring high security for investors.
CoinEx offers robust security features, including 2FA and cold storage. However, it is not regulated by major financial authorities, which might be a concern for some 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 an expert closely observing the cryptocurrency exchange landscape, I find CoinEx to be a commendable platform for both novice and experienced traders. Its expansive selection of cryptocurrencies caters well to those looking to diversify their portfolios beyond the mainstream offerings. The user interface, designed with clarity in mind, ensures that even those new to crypto trading can navigate and execute trades with ease. However, it’s important for users to be aware of the customer support response times, which, while reliable, can experience delays during peak times. This understanding should prepare traders to manage their trading activities effectively, keeping in mind the support dynamics. Overall, CoinEx’s robust security measures and competitive fee structure make it a worthy contender in the crowded market of cryptocurrency exchanges.

View all comparisons against Independent Reserve

View all comparisons against Coinex

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.

More comparatives Independent Reserve and Coinex