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Swyftx Review

Should you trust your money with Swyftx?

Swyftx Homepage screenshot

If you’re thinking of depositing money or doing some research on Swyftx, this review should help answer some commonly asked questions. We’ve taken a lot of things into consideration while doing our research for this Swyftx review so you don’t have to. Keep reading to see if Swyftx is the right option for you and your money…


Review Summary:
Hey! Warren here. After carefully reviewing Swyftx we believe it is one of the most trusted platforms to buy, sell, and trade crypto in Australia and the crypto community obviously agrees because they have over 3600+ reviews on TrustPilot with a excellent score of 4.8/5 stars.

Their fees are lower compared to their competitors, the interface is very easy to use and they have over 310+ tradable assets.

Swyftx logo small

★★★★★ 9.8/10

(1.4k Votes)

Click here to get $20 worth of BTC free when you sign up to Swyftx today.

Swyftx Compared

Best Overall
  • 0.6% Fees
  • 310+ Tradable assets
  • Beginner friendly
  • Fast support
  • 1% Fees
  • 310+ Tradable assets
  • Beginner friendly
  • Fast support
Digital Surge
Digital Surge
  • 0.5% Fees
  • 270+ Tradable assets
  • Beginner friendly

Ease Of Use

Swyftx goes out of its way to ensure the platform is easy to use by both experts and beginners.

Their website and mobile apps are fairly easy to navigate, and once you sign up, an account manager is assigned to you.

The ID verification process is quick, and you don’t have to upload documents.

Their user experience is also unmatched.


Swyftx is a licensed and regulated trading platform that is registered with the AUSTRAC (Australian Transaction Reports and Analysis Centre).

They also have a 2-factor authentication protocol to keep your account secure and eliminate unauthorized access.

Part of their security measures includes regular penetration testing and data encryption. This helps them identify and protect your account against any suspicious activities.


Swyftx has one of the lowest trading fees in Australia because all trade executions happen at market value.

They don’t charge withdrawal and deposit charges for fiat and cryptocurrency except for fiat transfers below $200.

Their spreads are as low as 0.45%, and a 0.6% fee is imposed on all trades.

There are no trading limits.

Supported Cryptocurrencies

There are more than 310 supported cryptocurrencies on Swyftx, and the list is regularly updated. You can trade with popular digital currencies like Ethereum (ETH), Bitcoin (BTC), Litecoin, and Ripple.

They also have lesser-known coins like Mithril (MITH) and Civic (CVC.

You can trade these assets against AUD, USD, and BTC.

Deposit & Withdrawals

Swyftx enables fast and easy AUD deposits & withdrawals through POLi and PayID, which both offer instant deposits.

You can also deposit via OSKO (money will reflect in your account on the same day), bank transfer, credit card, cryptocurrency, and debit card.

Deposits and withdrawals have a $20,000 limit which can be increased to $ 100,000 with enhanced verification.


Swyftx has excellent customer support, as is indicated by its trust pilot reviews.

They have an average of 4.8 stars after more than 3600+ reviews, most of which speak to their amazing customer service.

Users can reach out to them via phone, email, live chat, and most recently, telegram.

Their average response time is below 3 minutes.

Editors Swyftx Review


Hello everyone! My name is Warren, and I have been using Swyftx for 7 months now.

After several issues with crypto exchanges that have insufficient liquidity, high fees, poor customer service, and terrible interfaces, I decided to give this platform a chance.

I have to admit that I was pleasantly surprised by how easy it was to use and the safety protocols. Here’s a simple review based on my experience…

Account Creation

The signup process was fairly easy, and all I had to do was click on the Signup button located on the website’s upper right corner.

This opened up the registration page where I had to input details such as name, phone number, email address, country of residence, and finally, my password.

The final step was agreeing to the terms & conditions and clicking on the create my account button.

ID Verification

Since Swyftx is bound by the KYC regulations, I had to verify my identity before I could make any deposits.

One thing that stood out is the fact that the verification process took me less than 5 minutes to complete and it was very easy.

Verification process: navigate to the left side sidebar > Profile> Verification link.

After clicking on the verification link, I had to fill out an online form with my email address, phone number, and ID number.

The verification could either be done via phone or email, but I chose the SMS option because it was more convenient. The more you verify your account it gives you extra member benefits. I’m now a GOLD member and that was easy to achieve.

First Impression: The Interface

I found the platform simple and easy to navigate, even though they don’t show the buy and sell options on the same monitor.

The fact that they have a mobile app compatible with android and iOS was also a huge plus because it meant that I could trade on the go.

The app has a biometric security feature that ensures your account is safe even on a mobile

The Transaction Process

Even though Swytfx charges a standard commission of 0.6%, they compensate for this by having lower spreads. They have an average spread of 1.7%, while other crypto trading sites average at 2.6%.

They also have a fair AUD to USD rate and a recurring deposit feature that allows you to automate your trades.

What Could They Improve on?

The Swyftx mobile app could use a few upgrades, including the chart view and near-constant glitches. They also offer custodial services only and could use a dark theme on their interface.

Ignore the above, Swyftx just updated their mobile App and it works GREAT!!! They have also added dark theme option as well and I love it. They actually listen to customer feedbackGreat job Swyftx!

They are currently only available to Australians and New Zealand. This is a good thing for us Aussies, but for those outside Australia and NZ will not be able to join.

All in all, I would recommend this platform to both beginners & expert traders because Swyftx is a trusted service and signing up is very easy.

Sign up process: Create Account > Verify ID > Instant Verification > Make Deposit > Start Trading

Swyftx logo small


User interface screenshots

Here are some screenshots of what the user interface of Swyftx looks like:

And here if a video showcasing their new App…

The new app is super clean and easy to use. It’s definitely worth signing up and giving it a try…

Click here to join Swyftx

What are the Top Features of Swyftx?

Swyftx is one of the top Australian crypto trading sites, and some of the features that make it stand out are;

  • A superior TradeView interface.
  • A customizable dashboard that shows the most preferred and frequently used technical indicators.
  • Pain-free accounting due to downloadable tax reports.
  • Demo mode that simulates real-life market depth that allows you to practice crypto trading without risks.
  • A wide selection of cryptocurrencies to trade with.
  • Advanced password security and 2-factor authentication login.

Swyftx allows you to compare their current spreads with those of other Australian cryptocurrency exchanges so that you can know how much you’ll be saving by trading with them. They also have an interactive dashboard that gives you insights into your trades.

Most of their deposits are instant, except for non OSKO deposits that take a maximum of 6 hours and cryptocurrency deposits that can take some time depending on the coin.

Most Fiat withdrawals happen on the same day except those initiated late. Swyftx also has a crypto news section that allows traders to keep up with the latest industry trends.

This feature is especially useful to new traders that are looking for enough information about digital assets before they can start trading. It’s also important to note the Swyftx is a hybrid exchange site that brings you the best of the trading and brokerage worlds.

Is Swyftx Safe?

Yes, it is…

Swyftx is licensed and regulated under AUSTRAC, the main Australian body that’s responsible for financial intelligence.

Swyftx ASIC certificate

This government agency monitors all financial transactions to identify and prevent tax evasion, money laundering, terrorism financing, welfare fraud, and organized crime.

Since Swyftx is a registered DCEP, it has to maintain strict transaction monitoring programs and Know Your Customer policies. What this means is that they have to verify every user, and they have a regulator who ensures that they do.

These strict protocols, however, don’t interfere with the swiftness of the signup process because Swyftx only deals with Australian citizens & residents. In addition to the normal password, this platform has a two-factor authentication protocol to keep your digital assets secure.

They also monitor all accounts on the back end to protect your account from hacks and data breaches. If they detect any suspicious activity on your account, it’s immediately locked until you can reset the password.

The ultimate security feature, though, is that Swyftx has partnered with a third party, Auth0, to safely store all user login details on the cloud.

Visit Swyftx Website

Is Leverage Trading Available on Swyftx?

Swyftx currently doesn’t have this option, but their development team is looking for ways of implementing it in the future. Leverage trading is only available on sites that accept cryptocurrency deposits, but this platform only accepts AUD deposits.

This is, however, more convenient to most traders, especially beginners. If you’d like to trade with leverage, you can buy bitcoin on your account and then transfer it to another reputable site that allows it.

Swyftx will even help you look for a reliable site.

A Review of the Swyftx Cryptocurrency Wallet

When you start trading with Swyftx, you get a custodial wallet that allows you to store all the supported coins.

The cryptocurrency wallet is secured with high-level security protocols, and you can store your coins in a cold or hot wallet.

It’s, however, important to note that online wallets are most susceptible to hacks which is why Swyftx recommends that traders use a hardware wallet instead.

What Crypto Can You Buy With Swyftx?

You can buy and trade over 310 cryptocurrencies on Swyftx and they have made it very easy to do so on their platform.

They have all the major tradable assets such as Bitcoin, Etherium, Litecoin and Ripple just to name a few. They also have a wide range of Altcoins available which really sets Swyftx apart from the competition.

Here is just a small handful of crypto you can buy on Swyftx…

  • Aergo (AERGO)
  • AirSwap (AST)
  • Algorand (ALGO)
  • Bitcoin (BTC)
  • Bitcoin Cash (BCH)
  • Bitcoin Gold (BTG)
  • Binance Coin (BNB)
  • BurgerSwap (BURGER)
  • Litecoin (LTC)
  • Nano (XNO)
  • OMG Network (OMG)
  • PancakeSwap (CAKE)
  • Polkadot (DOT)
  • Ripple (XRP)
  • Shiba Inu (SHIB)
  • Solana (SOL)

This is just a small list of available crypto on Swyftx but if you want to see a full list you can visit their Assets Archive page here.

The Swyftx Self Managed Super Fund

Traders can create a self-managed super fund that is equivalent to retirement benefit funds. This service is a result of a partnership between Swyftx and New Brighton Capital, where users also get tax benefits.

To sign up for this fund, further verification is required, including a trust ABN, details of the trust beneficiary, and a registered trust name and address.

Beneficiaries with more than a quarter of your stake are required to have verified Swyftx accounts. The Australia Tax Office recognizes Swyftx SMSF as a retirement savings fund which is why all trustees should be in compliance with ATO regulations.

A 15% tax is imposed on all benefits.

6 Quick Reasons Why We Recommend Swyftx?

  • Best value for your money: Swyftx offers discounts to high-volume traders and doesn’t have trading volume limits. Despite its relatively high commissions, you can easily make profits from the low spreads.
  • Referral bonuses: if you have a friend who’s interested in joining the platform, you can send them your referral link, which awards you a 30% bonus on trading fees. This bonus is applicable for life and is a great way of earning passive income.
  • Advanced trading platform: a powerful trading platform is one of the necessary considerations when you start looking for a cryptocurrency exchange site. Swyftx has a TradeView interface that gives users access to a huge variety of trading indicators.
  • High Liquidity: compared to its competitors, Swyftx is one of the most liquid. They optimize your trades automatically across various exchanges so that you can get the best prices. Their price charts are also detailed enough for traders to conduct technical analysis.
  • Seamless User Experience: the mobile app interface is similar to that of the web app, and both platforms have the same features. This ensures that your experience across both platforms is seamless. You, however, have to log in using Face ID recognition or fingerprint authentication on the app.
  • Over 3600+ Reviews: With over 3600 Swyftx reviews on Trustpilot alone and a positive rating of 4.8/5 you can see the crypto community love using Swyftx.

Best Swyftx Alternatives:

The process of choosing a safe and reliable cryptocurrency site is often tedious and involves reading a lot of reviews. You are, after all, entrusting the platforms with distal assets trading.

Based on my experience, I would recommend Swyftx because of its;

  • Security features.
  • Easy verification.
  • Variety of trading tools and available assets.
  • Great customer support.
  • Low spreads

There’s always room for improvement, but this platform has most of the major aspects covered. It would be nice, though, if they could offer leverage trading and work on the mobile app.

If after this review you’re still not convinced that Swyftx is the best fit for you, check out our alternatives on our best cryptocurrency exchange page


Best Overall Exchange


  • Number of crypto assets: 310+
  • Trading fees: 0.6%
  • Acceptable deposit methods: credit card. PayID, POLI, Bank transfer, Debit card, Cryptocurrency.
  • Allows AUD deposits and withdrawals: Yes

Most Beginner Friendly


  • Number of crypto assets: 290+
  • Trading fees: 0.1% on OTC trades and 1% for the instant buy feature
  • Acceptable deposit methods: credit card. PayID, POLI, BPAY, cash deposit, OSKO
  • Allows AUD deposits and withdrawals: Yes

Best Crypto Exchange for Advanced Traders


  • Number of crypto assets: 250+
  • Trading fees: 0.1%
  • Acceptable deposit methods: PayID, credit card, debit card, bank transfers, Cryptocurrency, OSKO
  • Allows AUD deposits and withdrawals: Yes

Longest Standing Exchange


  • Number of crypto assets: 20+
  • Trading fees: 0% – 1%
  • Acceptable deposit methods: PayID, debit/ credit card, cash deposits, bank transfer
  • Allows AUD deposits and withdrawals: Yes

Best For Traders


  • Number of crypto assets: 20+
  • Trading fees: Spread only
  • Acceptable deposit methods: Debit card, Paypal
  • Allows AUD deposits and withdrawals: No

Best For Mobile App


  • Number of crypto assets: 40+
  • Trading fees: 0.5% – 3.99%
  • Acceptable deposit methods: Bank transfer, Debit/credit card
  • Allows AUD deposits and withdrawals: Yes

Is SwyftX Better than CoinSpot?

Swyftx and CoinSpot would have to be the two most popular exchanges here in Australia. You might be wondering, is Swyftx better than CoinSpot?

After reading a lot of customer reviews and feedback from crypto communities, a lot of people make the move from CoinSpot to Swyftx because Swyftx has lower fees for instant trading and much better support.

Personally, I prefer the Swyftx app over CoinSpot.

Check out:

Home » The 6 Best Cryptocurrency Exchanges In Australia » Swyftx Review

4.7/5 - (60 votes)

Disclaimer: This article is intended to be used and must be used for informational purposes only. It is important to do your own research and analysis before making any material decisions related to any of the products or services described. This article is not intended as, and shall not be construed as, financial advice.