Independent Reserve account opening

To open an account on Independent Reserve, follow these detailed steps:

1. Visit the Independent Reserve Website: Start by going to the official Independent Reserve website. Click on the “Create Account” button located at the top right corner.
2. Register Your Account:
   • Choose Account Type: Select the type of account you want to open—Personal, Company, Super Fund, or Trust.
   • Enter Basic Information: Provide your username, email, and a secure password. Then, confirm your email by entering the code sent to your inbox.
3. KYC Verification:
   • Provide Personal Details: You’ll need to input your full name, date of birth, home address, and phone number.
   • Upload Identity Documents: To verify your identity, upload a government-issued ID (like a passport or driver’s license) and a proof of address (such as a utility bill or bank statement).
   • FastTrack Option: If available, you can use the FastTrack option for quicker verification. Otherwise, you’ll have to manually submit documents and wait for approval.
4. Secure Your Account:
   • Set Up Two-Factor Authentication (2FA): While optional, enabling 2FA via Google Authenticator is highly recommended for added security.
5. Complete Account Setup:
   • Account Purpose & Income Source: You’ll be asked to specify the purpose of your account and the source of your income.
   • Review and Submit: Carefully review all the information provided. Once confirmed, submit your application.
6. Verification and Activation:
   • Verification Process: Independent Reserve’s team will review your submitted documents. This process can take up to 24 hours.
   • Start Trading: Once your account is verified, you’ll receive a confirmation email, and you can begin depositing funds and trading.

Different Types of Accounts on IR

Independent Reserve offers several types of accounts to cater to different needs:

1. Personal Account: This is the standard account type for individual users looking to trade cryptocurrencies. It includes access to all trading features, such as the ability to buy, sell, and hold digital assets.
2. Company Account: Designed for businesses that want to trade on behalf of a company. This account type requires additional documentation to verify the company’s identity and authorized representatives.
3. Super Fund Account: This account type is tailored for self-managed super funds (SMSFs) in Australia. It allows fund managers to invest in cryptocurrencies within a regulated framework, providing specific tools for managing investments in compliance with Australian laws.
4. Trust Account: This is intended for trustees who wish to manage and trade cryptocurrencies on behalf of a trust. Like the Company account, this type requires extra documentation to verify the trust and its trustees.

Minimum Deposit on IR

The minimum deposit requirements on Independent Reserve vary depending on the currency and deposit method used:

1. AUD Deposits:
   • For deposits under AUD $1,000, a fee of AUD $2.50 applies. However, deposits above this threshold are free.
   • The initial daily limit for PayID/Osko deposits is set at AUD $20,000, which can be increased upon request.
   • Bank transfers in AUD are free for deposits over AUD $100.
2. USD, NZD, and SGD Deposits:
   • Deposits in USD and NZD via SWIFT incur a fee of $15 for transactions under $5,000. Deposits above this amount are free.
   • There is no minimum deposit specified for other fiat currencies, but fees may apply depending on the deposit method.
3. Crypto Deposits:
   • Cryptocurrency deposits do not have a minimum amount, but they are subject to standard network fees.

Countries That Can and Cannot Open an Account on IR

Independent Reserve is available to users in several countries, but it does have restrictions based on geographic location. Here’s a breakdown:

Countries Where You Can Open an Account:

• Australia: Independent Reserve is headquartered in Australia and fully supports Australian residents, offering a range of services including AUD deposits and withdrawals.
• New Zealand: New Zealand residents can also open accounts, with full support for NZD deposits and withdrawals.
• Singapore: The platform is available to Singaporean users, providing SGD deposits and withdrawals.
• Other Supported Countries: Independent Reserve also supports users from a range of other countries, particularly in the Asia-Pacific region.

Countries Where You Cannot Open an Account:

• United States: Independent Reserve does not currently support users from the United States. This is primarily due to regulatory restrictions.
• Other Restricted Countries: While the list of restricted countries can change, it generally includes nations under international sanctions or those with stringent regulatory frameworks that Independent Reserve has chosen not to navigate.