Independent Reserve

Independent Reserve

Low fees, high liquidity

Independent Reserve is a highly trusted cryptocurrency exchange, widely known for its strict security measures and regulation in Australia, making it a preferred choice for Australians and New Zealanders.

Although the fees may not be the lowest in the market and the trading pairs are somewhat limited, its robust security protocols and regulatory compliance provide users with a sense of assurance and peace of mind.

Overall, Independent Reserve is an excellent platform for buying and selling cryptocurrency in Australia.


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Independent Reserve Details

Supported Countries
  • Easy to use for beginners
  • Low trading fees
  • No fees on EFT withdrawals
  • $0.99 Processing fee on deposits less than $100
  • Setting up an account can take awhile
  • Only available in Australia, New Zealand and Singapore

Setting up an Account

Creating a user account on Independent Reserve is a thorough process that takes a little longer than some other exchanges due to its strict compliance laws. However, this extra effort is necessary to ensure the highest level of security and compliance, which is essential for safeguarding your valuable assets.

Once you submit your documents, Independent Reserve takes the time to review them carefully. Once your account is approved, you can rest assured that you are using one of the safest exchanges in the industry. The peace of mind that comes with this level of security and protection makes the process more than worth it.

Safety and Security

The regulatory departments of ASIC and AUSTRAC in Australia have a reputation for enforcing compliance among smaller financial service providers. Interestingly, larger banks may commit numerous breaches with only minor consequences.

However, for companies like Independent Reserve, the regulations can be quite stringent. Nevertheless, this level of scrutiny is beneficial for customers, as Independent Reserve invests heavily in protecting their data. As a result, you can rest assured that your assets are secure when using Independent Reserve’s platform.

For extra peace of mind, it’s good to know that Independent Reserve have also obtained ISO 27001 certification (one of the most well known global security standard) as of 29 December 2021. They are also certified by Blockchain Australia.


Independent Reserve reports having over 450,000 customers, a considerable number in the Australian market. While it may seem small compared to the major players in the US and Europe, Independent Reserve’s size is impressive and indicates its growing popularity.

Despite the strict governance rules the platform follows, it maintains a high level of capital backing, ensuring that converting cryptocurrencies to fiat and vice versa is never an issue. This reliability is a testament to Independent Reserve’s commitment to providing its customers with a safe and seamless trading experience.

Ease of Use

Although it may be considered overly simplistic for experienced traders, the straightforward nature of the Independent Reserve platform makes it an ideal choice for your average trader, especially beginners looking to make simple trades.

While it may lack complex interactive graphs and other trending data that could assist with more strategic investments, this simplicity is a positive aspect for those who are just starting out in the world of cryptocurrency trading.

Overall, Independent Reserve provides an easy-to-use platform that allows for hassle-free trading and a great introduction to the world of cryptocurrencies.

Online Wallet

Independent Reserve offers a secure and convenient online wallet for storing multiple cryptocurrencies, accessible through their platform.

Advanced security measures such as two-factor authentication, SSL encryption, and cold storage protect users’ assets, with additional security features available.

The wallet’s multi-currency support is useful for managing diversified portfolios. Overall, it is a reliable and user-friendly option for cryptocurrency storage.


Independent Reserve charges competitive fees for trading on their platform, with a sliding scale based on trading volume. The fees range from 0.5% to 0.1% for maker fees and from 0.5% to 0.5% for taker fees, making it one of the most cost-effective exchanges in Australia.

Deposit Fees

Deposit TypeFees
Crypto DepositsNone
Deposits in AUDBank Transfers: No fees on amounts over AUD $100. Amounts under AUD $100 incur a processing fee of AUD $0.99
Debit & Credit Cards: No fees
PayPal: No fees
Deposits in NZDDeposits over NZD $5,000: No fees
Deposits under NZD $5,000: NZD $15 Processing fee.
Deposits in USD– Deposits over USD$5,000: No fees
– Deposits under USD $5,000: USD$15 Processing fee.

Trading Fees

Trading fees are based off the volume of trades done per 30 days.

Trading Volume (AUD)Fee

Fiat Withdrawal Fees

Withdrawal fees are dependent on the type of withdrawal method made:

Withdrawal TypeFees
AUD EFT WithdrawalsNo Fees
AUD Instant withdrawals via PayID/NPPAUD $1.50
USD Swift withdrawalsUSD $20
NZD WithdrawalsNZD $20

Crypto Withdrawal Fees

BitcoinBTC 0.0003
EthereumETH 0.005
RippleXRP 0.15
USD CoinUSDC 15.0
Tether USDUSDT 15.0
AaveAAVE 0.15
CardanoADA 0.5
Basic Attention TokenBAT 25.0
Bitcoin CashBCH 0.0001
CompoundCOMP 0.04
DaiDAI 15.0
DogecoinDOGE 5.0
PolkadotDOT 0.1
Ethereum ClassicETC 0.02
The GraphGRT 20.0
ChainlinkLINK 0.5
LitecoinLTC 0.001
DecentralandMANA 10.0
MaticMATIC 7.0
MakerMKR 0.007
The SandboxSAND 10.0
Synthetix Network TokenSNX 2.5
SolanaSOL 0.001
UniswapUNI 1.0
Stellar LumensXLM 0.01
yearn.financeYFI 0.0005
0xZRX 15.0

Overall, Independent Reserve’s fee structure is transparent, competitive, and designed to offer the best value for its users.


Independent Reserve supports a variety of cryptocurrency pairings, allowing users to trade various cryptocurrencies against fiat currencies like AUD, USD, and NZD. The platform offers a range of trading pairs, including popular cryptocurrencies like Bitcoin, Ethereum, and Ripple, as well as some lesser-known altcoins. This variety of pairings allows users to diversify their cryptocurrency portfolio and take advantage of market opportunities. The user-friendly interface and transparent fee structure make it easy for traders of all levels to execute trades quickly and efficiently.

Overall, Independent Reserve offers a robust selection of cryptocurrency pairings, making it a popular choice for users looking to trade in the Australian market.


Another handy feature in Independent Reserve is the ability to generate reports and see a history of all transactions.

While I haven’t tried it, they do also have a reporting function to generate a tax summary report powered by KPMG but it will cost AUD $39.95. I have always personally used Koinly, so I’ve never felt the need to use this function.

Customer Support

Independent Reserve provides 24/7 customer support to assist users with any queries or concerns they may have. Their support team is knowledgeable and responsive, providing timely and helpful solutions to any issues that customers may encounter.

They offer several channels of support, including email, phone, and live chat, ensuring that customers can get the help they need in a way that suits them best. The platform also has an extensive FAQ section and support center with useful articles and guides, helping users to find answers to common questions and providing them with valuable information to help them navigate the platform.

In my experience, I have used their support ticketing system and usually they respond within the hour:

Overall, Independent Reserve’s customer support is reliable, efficient, and always there to help their customers.

Premium Account with Insurance

Independent Reserve offers a premium insurance option for customers who want additional protection for their digital assets. The insurance covers any loss of funds due to theft, hacking, or other unexpected events. This insurance option is available for all customers and is provided by Lloyd’s of London, one of the world’s leading insurance providers.

The premium insurance option is available for a small additional fee, which varies based on the amount of coverage required. Customers can choose to insure their entire account balance or a portion of it, depending on their needs.

This insurance option provides peace of mind for customers who want to ensure the safety and security of their digital assets. In the unlikely event of a loss, customers can rest assured that they will be reimbursed for the full value of their lost assets, up to the amount of coverage they have purchased.

Independent Reserve App

The Independent Reserve app is a wonderful addition to the platform that allows users to easily manage their cryptocurrency portfolio on the go. Available for both iOS and Android devices, the app provides a user-friendly interface that makes it easy to buy, sell, and store cryptocurrency.

Here are some screenshots of what it looks like on my mobile:

The app offers several features that make it a great choice for cryptocurrency traders, including real-time market data, advanced charting tools, and the ability to set price alerts for specific cryptocurrencies. Users can also easily view their account balances, transaction history, and open orders through the app.

One of the standout features of the Independent Reserve app is its security. The app utilizes the same security measures as the web-based platform, including two-factor authentication and biometric login options. Additionally, the app is designed to be user-friendly and intuitive, making it a great choice for both experienced cryptocurrency traders and beginners alike.

The Independent Reserve app is a great addition to the platform that provides a convenient and secure way for users to manage their cryptocurrency portfolio on the go. They have made it available on both IOS and Android:

Australia's leading cryptocurrency exchange


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4.5 Overall Rating

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Independent Reserve