Independent Reserve Review

Cryptocurrency exchanges have been under intense scrutiny these past few years. So, if you're looking to trade safely in a platform that has earned the government's trust, especially in Australia, I'll introduce you to one such platform in this Independent Reserve review.

With over 11 years in the industry, Independent Reserve has established itself as a regulated platform for trading Bitcoin, Cardano, and a range of other cryptocurrencies. Beyond security, user Independent Reserve exchange reviews have also noted how its features cater not just to average traders but also to institutional ones.

That said, there are multiple facets when considering is Independent Reserve safe. Plus, the platform may not be 100% well-suited for you, especially if broad fiat support is your focus (for which I'd recommend Binance or Bybit, where you can trade in numerous currencies). So, let's see what the Australian cryptocurrency exchange is all about in this Independent Reserve exchange review!

Verdict at a glance: Independent Reserve is a secure and regulated trading platform with clear fees and strong asset protection. It is ideal for traders in Australia and Southeast Asia, but the limited fiat support and higher fees for certain withdrawals could be a drawback for international users.

What is Independent Reserve?

Independent Reserve is one of Australia’s leading cryptocurrency exchanges since 2013, now serving 350,000+ traders (as of writing). Diving into this Independent Reserve review, the Australian platform has expanded to cater to users in New Zealand and Southeast Asia.

Founded by three crypto enthusiasts, Independent Reserve provides a secure and regulated space to trade major cryptocurrencies like Bitcoin and Ethereum, just like its founding vision. What sets it apart? It's not just their experience, but their strict compliance with Australian financial laws.

And for anyone wondering, is Independent Reserve safe? Many user Independent Reserve Bitcoin reviews praise its credibility and security for digital asset trading. Since 2013, it has adapted to market demands and regulatory changes, showing resilience where many exchanges have faltered. Its stability highlights the platform's ability to thrive despite industry volatility. 

Their expansion into Singapore, becoming the first licensed exchange under the Monetary Authority of Singapore, showcases their ambition. With global growth and partnerships like PayPal, the platform continues to build its reputation.

As corroborated by testimonials in user Independent Reserve Bitcoin reviews, the platform remains responsive to user needs worldwide. The exchange supports diverse currencies to boot, from AUD and USD to NZD, facilitating easy trades.

Independent Reserve Review: PROS

After getting to know the platform, this wouldn’t be a full-fledged Independent Reserve review without highlighting its special features. All I can say, the Australian cryptocurrency exchange Independent Reserve provides beginner- and expert-friendly features that make it a trusted choice.

With top-tier security and strict regulatory compliance, let’s dive into what makes this exchange so credible.

Strong Security Features

Independent Reserve is serious about protecting your assets, and its robust security measures make it clear why. As I tested the platform out and compiled this Independent Reserve review, I figured out how it offers a well-rounded security suite designed to give traders peace of mind.

One of the key features is two-factor authentication (2FA), which adds an extra layer of defense beyond your password. 2FA enhances the usual login process by requiring an additional authentication factor^[1], like a code from a smartphone app such as Google Authenticator or a one-time PIN sent via SMS.

With 2FA, even if someone manages to get your login credentials, they’d still need this unique code, making it a simple yet highly effective way to keep your account secure.

While Two-Factor Authentication (2FA) adds an important layer of security, Independent Reserve offers even more protection. One such feature is IP address monitoring. Whenever a new device or unfamiliar IP address attempts to access your account, the platform will notify you and request additional verification to ensure your account is secure.

Additionally, for high-security needs, you can set up a duress password. If you're ever in a situation where you feel your account is compromised, entering this special password will temporarily lock your account for 24 hours, preventing any unauthorized access. 

But if all those features are insufficient to answer, is Independent Reserve safe? Well, wait until you hear about encryption protocols. All personal data and transaction details are heavily encrypted on the exchange, meaning your sensitive information is locked down and protected from cyber threats.

To add another level of protection, the platform offers withdrawal whitelisting, where you can pre-approve certain addresses for withdrawals. That way, your funds can only be sent to specific, trusted locations. This further proves how the answer to "Is Independent Reserve safe?" is crystal clear: yes, it is.

Furthermore, regular audits and penetration testing keep Independent Reserve ahead of potential vulnerabilities. By constantly updating its security practices, the exchange maintains a strong defense, leaving fewer doubts for those still wondering is Independent Reserve safe.

Top-Tier Cryptocurrency Markets

Being a licensed, secure, and trusted exchange, user Independent Reserve reviews have highlighted how the platform is ideal for traders seeking top-tier cryptocurrencies. After all, Independent Reserve delivers its founding vision's promise, ensuring that only reputable projects make the cut to their list.

Although Independent Reserve supports only 25 cryptocurrencies, the platform does still give you a variety, as you can find a solid mix of major coins and altcoins. Whether you’re trading Bitcoin (BTC) or Ethereum (ETH), this platform has you covered.

Beyond the big players, the Australian cryptocurrency exchange Independent Reserve offers altcoins like XRP, LTC, and XLM. For those looking to dive deeper into Web3 or DePIN markets, you can also trade tokens like GRT, UNI, and SAND. So, yes, the platform is suitable for traders who want to experiment with both popular and emerging coins.

While writing this Independent Reserve review, trading with these coins is made even easier with the detailed market overview. There, you can track real-time prices, volumes, and more.

For those who like more in-depth analysis, Independent Reserve provides historical charts and market data, giving you the tools you need to track trends over time. Whether you're buying altcoins, memecoins, stablecoins, or top-performing coins, the platform's market data helps you make informed, data-driven decisions.

What’s even more handy is the fiat-to-crypto support. You can deposit and trade SGD as well as AUD directly against your preferred cryptocurrencies, avoiding unnecessary conversions. This setup is also known as multi-currency trading, which is a standout feature worth mentioning in this Independent Reserve review.

That said, if you'd like to diversify your portfolio further and maybe invest in coins or tokens not listed on Independent Reserve, I'd suggest either Bybit, HTX, or Binance. Supporting more than 500+ cryptocurrencies, you'll likely find what you need on any of those platforms.

Regulated and Trusted Platform

One thing that stands out in user Independent Reserve Bitcoin reviews is how seriously the platform takes its compliance with Australian regulations. Operating under strict financial rules, the exchange ensures a secure and transparent trading environment.

Independent Reserve is registered with AUSTRAC, Australia’s financial watchdog, which means it adheres to anti-money laundering (AML) and counter-terrorism financing (CTF) laws. For traders, this means enhanced safety and confidence, knowing their funds are in good hands.

Followingly, if you're an Australian resident, you may qualify for Independent Reserve’s FastTrack verification, which allows you to start trading and depositing funds immediately after creating your account. This feature is especially convenient for those who want to begin trading immediately without waiting for full verification.

While FastTrack gives you instant access, you’ll still need to complete the whole Know Your Customer (KYC) process to remove any account restrictions and continue trading long-term. Doing so ensures that your account complies with Australian regulations, but in the meantime, you can enjoy immediate access to deposit and trade.

The platform’s strong regulatory stance is further bolstered by its expansion into Singapore. Becoming the first licensed cryptocurrency exchange under the Monetary Authority of Singapore shows that the exchange isn’t just focused on Australia; it’s expanding its credibility on the global stage.

Finally, as many Independent Reserve exchange reviews highlight, its dedication to security and compliance has earned it a solid reputation worldwide.

Competitive Trading Fees

Independent Reserve offers a straightforward and transparent fee system that benefits active traders. Trading fees start at 0.5%, but as your trading volume increases, you can lower that to as little as 0.02%. It's a setup that works well for those who trade frequently or handle larger transactions, helping to keep costs predictable and manageable without hidden surprises.

When it comes to deposits, the platform doesn’t charge fees if you’re putting in over AUD 100. Drop below that, and there’s a small AUD 0.99 fee. Even credit card deposits come with a clear 1% fee. For international traders, USD and NZD deposits over a certain threshold are also fee-free—nice for those trading from abroad.

Withdrawals? No hidden costs here, either. EFT bank withdrawals are free in AUD, while SWIFT transfers for USD and NZD come with minimal fees. The crypto withdrawal fees are straightforward, too. For example, Bitcoin withdrawals carry a tiny fee of 0.0003 BTC, and Ethereum withdrawals cost 0.005 ETH.

Compared to other platforms, Independent Reserve incurs everything upfront. No hidden costs, just a predictable and cost-effective fee structure that’s suitable for high-volume traders and institutions.

Institutional Support and OTC Trading

For the big players out there, the Australian cryptocurrency exchange Independent Reserve is designed with institutional clients in mind. Whether you’re managing large funds or making bulk trades, the platform offers features tailored for you.

The OTC Trading Desk (that’s "over-the-counter" for those new to the term) lets you make large trades without shaking up the market price. Whether you're moving $50,000 or $50 million, it helps you avoid price slippage. Plus, with access to deep liquidity, trades settle fast, and you get competitive pricing across global markets.

Now, how do they handle such large trades without causing market fluctuations? They split orders across multiple exchanges to find the best prices and minimize disruption. Think of it as spreading out your trades to get the best possible deal. It’s like grocery shopping at multiple stores to find the best bargains but for crypto.

Institutions also benefit from bulk order processing, allowing high-volume trades to go through without delays or price shifts. And if you need something more customized? Independent Reserve offers dedicated account management and personalized trading strategies, giving institutions all the tools they need to execute their investment plans efficiently.

For those who love automated trading, Independent Reserve's AutoTrader has you covered. You can set up strategies like Dollar Cost Averaging (DCA), where you invest a fixed amount regularly, buying more when prices are low and less when they’re high^[2], helping to reduce your overall cost per share.

You can also explore Grid Trading, where you allow the platform to manage your trades as you focus on the bigger picture. If you’re a tech-savvy trader, Independent Reserve's JSON API (AirbridgeTM) lets you integrate the platform seamlessly into your custom setups.

Using Independent Reserve’s API, you can automate your trading strategies. The API allows you to access real-time market data, place trades, and manage your account programmatically. This feature is ideal for creating custom trading bots or integrating the platform into your own trading software.

It's no wonder that user Independent Reserve reviews also gain the attention of institutional traders. The platform shines with its solid tools for serious traders, offering top-notch efficiency.

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Independent Reserve Review: CONS

Let's face it: no platform is perfect, and Independent Reserve has a few drawbacks you should know about. In this Independent Reserve review, we’ll dive into the key limitations that might affect your trading experience, especially if you're an international trader or someone looking to keep those withdrawal fees low. Ready? Let’s get into it.

Limited Fiat Support

Independent Reserve has some solid support for fiat currencies, but it’s not as extensive as you might find on other global exchanges. If you're trading in AUD, NZD, USD, or SGD, you're all set. But if you prefer using EUR, GBP, or other local currencies, you might hit a snag. The lack of broader fiat support is one key aspect worth noting in this Independent Reserve review.

Compared to global platforms like Binance or Bybit, which support a broader range of fiat currencies, Independent Reserve doesn’t offer the same level of flexibility. Both Binance and Bybit, for instance, enable you to trade in JYP, MXN, GBP, and UAH, ensuring there's an option wherever you are geographically.

	BYBIT	BINANCE
Overall Score	9.8	9.6
Best For	More Advanced Users	Buying, Trading, and Holding a Wide Variety of Cryptocurrencies
Operating Countries	Russia, South Korea, United Kingdom, Ukraine, Turkey, +150 more	Turkey, Russia, Argentina, Vietnam, Ukraine, + 40 more
Latest Coupons	$30,000 BONUS All Bybit Coupons	SECURE $600 BONUS All Binance Coupons
Verdict	A popular crypto derivatives exchange with some super-low trading fees.	One of the leading crypto exchange platforms in the industry.
	Visit site Read review	Visit site Read review

Table: Binance VS Bybit comparison.

Going back to Independent Reserve, while the multi-currency order book converts your orders into your chosen fiat currency, direct deposits or withdrawals in non-supported currencies aren’t available. For traders outside Australia, New Zealand, Singapore, or the US, this can feel limiting. You might need to convert your currency first, which adds an extra step, especially for cross-border transactions.

However, all things considered, this Independent Reserve exchange review shows that it remains a secure and reliable option, especially for those prioritizing regulatory compliance and security over global fiat flexibility.

High Withdrawal Fees for Some Currencies

Now, let’s talk about fees again. Nobody likes them, but they’re part of the deal. While Independent Reserve’s trading fees are competitive, the withdrawal fees for certain currencies can catch you off guard, especially if you’re making smaller or frequent withdrawals.

For AUD users, it’s all good. As explained in this Independent Reserve exchange review, EFT withdrawals are free, and instant PayID transfers only cost AUD 1.50.

But if you're dealing in USD or SGD, things get pricier. For USD withdrawals via SWIFT, you're looking at a USD 25 fee, while SGD withdrawals (available only to Singapore customers) come with an SGD 25 fee. For DBS bank account holders in Singapore, that fee drops to a more manageable USD 1.50.

When it comes to crypto withdrawals, stablecoins like USDC and USDT have higher fees at 10.0 USDC/USDT. If you're withdrawing small amounts frequently, those fees can really add up and cut into your profits.

Considering all the points rounded up in this Independent Reserve Bitcoin review, the withdrawal fees (especially for smaller transactions) can be substantial for some traders. For instance, if those fees are stacked up against those charged by Binance or Bybit, the trading expenses are a little bit up there with Independent Reserve.

How to Use Independent Reserve

By this point, this Independent Reserve review covers everything you might want to know about the Australian exchange, from its pros to cons. If you've decided you'd like to use this platform, let me also show you how.

How to Sign Up on Independent Reserve

As always, you need to set up your account before starting out on the platform. By having an account, you'll have easier access to your funds, as well. So, follow these steps:

Step 1: Visit the Independent Reserve website and click "Create Account" at the top right of the page. Make sure you're selecting "Personal" (because there are other types of accounts, like Company). Enter your username and email address and create a strong password to secure your account. Be sure to choose a unique password that you don’t use for other accounts, as Independent Reserve emphasizes security here.

Additionally, they allow you to create a duress password, which will temporarily lock your account for 24 hours if you feel your security is compromised. 

After entering your information, check your email for a verification link to confirm your account. This link helps validate your email if you forget your password or need to authenticate your identity through two-factor authentication (2FA).

Step 2: Next, you’ll need to provide personal details such as your full name, date of birth, and home address, ensuring these match your legal identification documents (like a passport or driver’s license). 

As part of Independent Reserve’s strict KYC and AML regulations, you’ll also need to upload a selfie holding your ID alongside a note that says "Independent Reserve [date]" to verify your identity. Don’t forget to upload a recent utility bill or bank statement to verify your address.

Your phone number will also be verified through a one-time SMS code. Verification is often instant in supported countries such as Australia, New Zealand, and Singapore, but make sure all your information is accurate to avoid delays in activating your account.

Step 3: After verification, secure your account with Two-Factor Authentication (2FA). Independent Reserve supports both Google Authenticator and SMS-based 2FA.

You’ll need a unique one-time code generated by your phone, in addition to your password, whenever you log in or withdraw funds. This ensures that even if someone gains access to your password, they can’t access your account without your mobile device.

How to Trade on Independent Reserve

Now that your account is verified and secured, let's see how to deposit funds and start your trading journey in this Independent Reserve exchange review.

Step 1: To deposit funds, navigate to the "Accounts" tab. Choose either fiat or cryptocurrency for your deposit. Independent Reserve supports multiple fiat currencies, including AUD, NZD, USD, and SGD, and will generate a wallet address for you if you're depositing crypto.

Remember, deposits over AUD 100 (or equivalent) are free, but smaller deposits may come with a minor fee.

For fiat deposits, Independent Reserve offers options like PayID and SWIFT transfers. SWIFT transfers for USD and NZD typically take 1-3 business days, while PayID deposits for AUD are usually instant. Be sure to double-check any fees or processing times for your specific deposit method.

Step 2: Start trading by heading to the "Trade" tab and selecting the cryptocurrency pair you want to trade. As mentioned in this Independent Reserve review, you can choose from over 25 cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), and many altcoins.

Whether you want to trade popular options like BTC/NZD or dig into altcoins, Independent Reserve’s multi-currency order book automatically converts orders into your chosen fiat currency, making trading more seamless.

When placing a trade, you can choose between a market order (buy/sell at the current price) or a limit order (set your preferred price and wait for it to be filled).

If you're trading in New Zealand, for example, you might use the BTC/NZD pair for Bitcoin. Double-check your order details before confirming to ensure you’re comfortable with the pricing and amount.

Step 3: Withdraw funds by returning to the "Accounts" section and selecting the currency you want to withdraw. Fiat withdrawals in AUD via EFT are free, while SWIFT transfers in USD incur a USD 25 fee. SGD withdrawals are limited to Singaporean users, with an SGD 25 fee or, alternatively, USD 1.50 if you withdraw to a DBS bank account.

For cryptocurrency withdrawals, fees vary based on the coin. For example, Bitcoin Cash withdrawals cost 0.0001 BCH, while Cardano withdrawals cost 0.5 ADA, and memecoins like Dogecoin come with a higher withdrawal fee of 5.00 DOGE.

Keep in mind that frequent or small withdrawals may see fees adding up, so it’s helpful to plan your withdrawals to minimize costs.

Pros

• Very low trading fees
• Exceptional functionality
• Mobile trading app

Main Features

• Very competitive trading fees
• An intuitive mobile app
• Up to 100x leverage available

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Pros

• A very well-known crypto exchange platform
• More than 500 different cryptos available
• Two-factor authentication

Main Features

• Over 500 different cryptocurrencies available
• Strong security
• Small withdrawal fees

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Pros

• Fully reserved and transparent
• Multiple tradable asset classes
• Early new token support

Main Features

• 265 supports cryptocurrencies
• Secure & transparent
• Fully reserved

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Conclusion

To wrap up this Independent Reserve review, the platform shines with its strong security measures, like two-factor authentication and encryption, offering peace of mind for traders. Its competitive fee structure, especially for high-volume traders, makes it appealing. Plus, the support for over 25 cryptocurrencies adds to its versatility.

That said, Independent Reserve's fiat support is somewhat limited to AUD, NZD, USD, and SGD, which may feel restrictive for international traders. Withdrawal fees for some currencies, especially altcoins or smaller amounts, can also be higher than on other platforms, making it less ideal for those frequently moving funds. So, if you're looking to save up on these fees, I'd suggest checking out Bybit or KuCoin.

Overall, Independent Reserve is a solid choice for both beginners and experienced traders, particularly those in Australia, Singapore, and New Zealand. That said, if you're from elsewhere, it'd be good to try out platforms that cover broader geographical support, like Binance.

The content published on this website is not aimed to give any kind of financial, investment, trading, or any other form of advice. BitDegree.org does not endorse or suggest you to buy, sell or hold any kind of cryptocurrency. Before making financial investment decisions, do consult your financial advisor.

Scientific References

1. E. De Cristofaro, H. Du, J. Freudiger, et al: ‘A Comparative Usability Study of Two-Factor Authentication’;

2. G. N. Smith, H. M. Artigue: ‘Another Look at Dollar Cost Averaging’.