Swyftx vs Independent Reserve


Review by Warren Wheeler

The main differences between Swyftx and Independent Reserve would have to be the fees, amount of tradable assets and deposit methods. Swyftx has the lowest fees, more tradable assets and more deposit methods compared to Independent Reserve.

Keep reading to discover which is the better exchange…

Swyftx vs Independent Reserve Review

Swyftx and Independent Reserve are two very popular exchanges here in Australia and there’s a good chance you may have already heard about both from a friend or someone you follow in the crypto community.

Swyftx is based in Brisbane, Queensland and would have to be the more popular of the two exchanges and their growth in the last two years has been massive. They have over 3500+ reviews on TrustPilot with an excellent 4.8 stars out of 5.

Independent Reserve is based in Sydney, New South Wales and have been around a little longer than Swyftx. They were founded in 2013 but they lack online reviews and testimonials and popular review site TrustPilot only has 46 reviews with a rating of 4.0 out of 5 stars at the time of writing this comparison article.

One noticeable difference between the two exchanges is the number of tradable assets they have. Swyftx has over 310+ cryptocurrencies available while Independent Reserve only has 30+ tradable cryptos available.

Let’s take a look at them both side by side in the table below…

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Comparison Table

Swyftx Logo Independent Reserve logo
Available Cryptocurrencies310+ Cryptocurrencies30+ Cryptocurrencies
Trading Fees0.6% per trade0.5% Limit Order
0.% Market Order
AUD Deposit OptionsBank Transfer, Debit Card or Credit Card, PayID/Osko, Cash and moreBank Transfer or PayID/Osko
Average Spreads1.7% spread on average1-3%
Year Founded20172013
Mobile Trading AppImageImage
Metaverse, NFTs and DeFiImageImage
No Data Breaches or HacksImageImage
TrustPilot Rating4.8 Stars (3540+ Votes)4.0 Stars (46+ Votes)
VerdictImage WinnerImage Loser
WebsiteSwyftx WebsiteIndependent Reserve Website

Swyftx vs Independent Reserve: Fees

Swyftx claims to have one of the lowest fee structures compared to its competitors. They do have low fees which are 0.6% per trade and that is on the low end compared to others.

Independent Reserve also has low fees for trading. The exchange charges a flat fee of 0.1% on all trades made on the platform. This is a pretty competitive rate in comparison to other exchanges that charge as high as 1%. The cheaper fees make Independent Reserve a great alternative to Swyftx for its transaction costs.

Deposit Fees

The good thing about Swyftx is it charges ZERO fees on all AUD deposits.

Independent Reserve on the other hand charges fees if you are depositing small amounts.

Trading Fees

When buying or selling cryptocurrency, Swyftx charges a 0.6% fee.

Independent Reserve charges a small 0.5% fee for buying / selling cryptocurrency.

Withdrawal Fees

Swyftx also charges ZERO fees for AUD withdrawals when withdrawing to an Australian bank accounts.

Independent Reserve charges ZERO fees for AUD withdrawals when withdrawing to Australian bank accounts also. However, if you want instant NPP withdrawals, then you’ll need to pay $1.50. International or non-AUD withdrawals will charge $20 at the point of withdrawal.

Winner: Swyftx 🏆

Swyftx has the better fee structure of the two exchanges. They have ZERO fees for deposits and withdrawals. Click here to confirm fees.

Swyftx vs Independent Reserve: Supported Cryptocurrencies.

There is a big difference between the two of these exchanges when it comes to supported cryptocurrencies. Swyftx has a lot more tradable assets available compared to Independent Reserve.

With over 310+ crypto assets to trade, Swyftx is the winner here. Independent Reserve only has 30+ tradable assets which is very limited compared to its competitors.

For traders who like to have a diversified portfolio, Swyftx will be the better option to go with.

Winner: Swyftx 🏆

Swyftx has over 310 supported cryptocurrencies which is a LOT more than what Independent Reserve offers.

Swyftx vs Independent Reserve: Security

Both Independent Reserve and Swyftx have not had any known security breaches of the time of writing this. They both provide customer support, multiple layers of security, and several measures to ensure your digital assets are safeguarded.

Swyftx and Independent Reserve are both registered with AUSTRAC and meet all the strict AML/KYC verification obligations to prevent money laundering and terrorism financing.

Winner: Tie!

Swyftx and Independent Reserve take security very serious and are both regulated by AUSTRAC.

Which Is Better, Swyftx Or Independent Reserve?

Swyftx and Independent Reserve are both legitimate exchanges with a very safe trading environment. They are among the best options in Australia for buying crypto.

But the questions is, which one is better?

After carefully reviewing and going through different features of the two exchanges we found that Swyftx is the clear winner.

They have lower fees, more supported cryptocurrencies available and their support is top-notch. It will come down to user preference but I do recommend Swyftx for people who are new or if they want an exchange with more options.

Swyftx also has some great resources to learn how to trade crypto. Visit Swyftx for details.

Winner: Swyftx 🏆

Swyftx is by far the better option overall for people living in Australia.

Swyftx and Independent Reserve Comparison

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Disclaimer: This article is intended to be used and must be used for informational purposes only. It's important to understand that digital assets are risky, you should always 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.