Independent Reserve Review: The 1 Thing To Know (2020)

Independent Reserve Australia is a fiat-to-crypto exchange that was founded in 2013 in Sydney, Australia. The exchange is trusted by over 120,000 customers to buy and sell Bitcoin to AUD, in a safe and secure trading environment. The mission of Independent Reserve exchange Australia is to transform cryptocurrency technology into secure, robust and regulated financial services, and do things the right way

Independent Reserve crypto exchange is a legit and registered exchange that is governed by Australia's highly regulated financial sector and a member of Blockchain Australia. In this Independent Reserve review, we will take a look at the exchanges features, user-interface, deposit methods, fees and security. 

independent reserve

Why Trade With Independent Reserve?

You should trade with Independent Reserve if:

  • You want to use an established, well trusted and reputable crypto exchange
  • You want an exchange that allow you to buy altcoins in Australia
  • You are looking for an exchange with volume based fee structure
  • You prefer a regulated cryptocurrency exchange in Australia
  • You like an exchange that stores user funds in cold storage 
  • You want to buy crypto using a SMSF
independent reserve australia

Independent Reserve Compared

Bank transfer is one the most popular methods to deposit AUD on Independent Reserve. This comparison table lists other popular Australian cryptocurrency exchanges that offer bank transfers. 






0.6% (low spreads)

5 / 5

independent reserve

0.5% - 0.05%


4.5 / 5

coinjar exchange

0.1% - 1%

4.3 / 5


0.1% - 1%

4.3 / 5

How To Register With Independent Reserve

The process to register an Independent Reserve account is really easy. To start, visit the website and click on the 'Create Account' link at the top right-hand corner. This will bring up another page. You will need to enter in your username and password. Once you have done this, you now have a registered account and will receive a confirmation email.

To login, simply use your email ID and password.  When you login for the first time, you will be required to verify the following:

  • Primary telephone number: In the event you are unable to authenticate using 2FA, or you forget your password, this telephone number will be required to identify you
  • Secondary telephone number: Additional protection fin the event you lose the ability to authenticate using 2FA, or you forget your password and you lose your primary telephone
  • Your identity: Information to verify you according to a database from your own country that will be cross-checked against various AML (anti-money laundering) and CTF (counter-terrorism financing) databases

You should also setup and activate 2FA and SMS authentication (highly recommended) for extra security.  

independent reserve register

Funding Your Independent Reserve Account

Independent Reserve Exchange Australia allows its users to fund its account using the following deposit methods:

Bank Transfer (EFT)

Australian users can deposit AUD funds via Bank Transfer (Electronic Funds Transfer). It generally takes about 1-2 business days for the deposits to process. 

Once your deposit is processed, an email will be sent notifying you that the funds are available in your account.

PayID / Osko Deposits

Australian users can make instant AUD deposits via the Osko system.  The limit for Osko deposits is up to $10,000.00 within a 24 hour period. Deposits are generally processed immediately and will credited to your account instantly. 

After the deposit is processed, an email will be sent notifying you that the funds are available in your account.

POLi Deposits

Australian users can deposit AUD funds via POLi. The limit for POLi deposits is up to $1,000.00 within a 24 hour period. Deposits are generally processed immediately and credited to your account instantly.  

After the deposit is processed, an email will be sent notifying you that the funds are available in your account.

SWIFT Deposits

International users can deposit funds into Independent Reserve with USD or NZD bank account via SWIFT transfer. SWIFT transfers generally take 2-3 business days before funds are available to you.  

Cryptocurrency Deposits

Like most crypto exchanges, users can deposit crypto directly to the Independent Reserve unique wallet address. This deposit process time will depend on the crypto coin you are sending, but should appear in your account after approximately 15-20 minutes. 

Skip ahead to find out which crypto coins can be deposited into Independent Exchange.

independent reserve features

Independent Reserve User Interface

Independent Reserve crypto exchange features a straight-forward and well laid out user interface. Navigation is very easy to follow for first time Bitcoin buyers with clear menus along the top menu. Those who are familiar with financial investing in the market will be interesting in the charting user interface. When you navigate to the 'Markets' page, the BTC live price charts are extremely basic.  

independent reserve chart

The interface includes a simple visual chart, market depth profile and recent trades. Users will realize that Independent Reserve charts are quite clunky to adjust the time frame and there is no ability to draw trend lines or add technical indicators.

This can be problematic and frustrating to adjust the slider and zoom to view the exact time frame to analyze the candlestick patterns. If you rely on technical analysis, then you might want to use other crypto charting sites in conjunction with Independent Reserve (to make the most of the low trading fees).

Read more: 4 Best Crypto Charting Sites For Altcoin Traders

Overall, Independent Reserve's charting interface is actually quite disappointing for a major crypto exchange in Australia. The entire interface could do with a complete overhaul to modernize the trading experience and keep up to date. More and more crypto exchanges are integrating with TradingView charts by default which provides superior charting for serious investors and traders alike.

Independent Reserve Coins

Independent Reserve allows its users to trade in fiat currencies (AUD, USD and NZD) for crypto coins such as:

  • Bitcoin
  • Ripple
  • Ether
  • EOS
  • Bitcoin Cash
  • Litecoin
  • Ethereum Classic
  • Stellar Lumens
  • Basic Attention Token
  • OmiseGO
  • Augur
  • 0x
  • Golem
  • PlayChip
independent reserve coins

Independent Reserve Fees

Trading Fees

Independent Reserve trading fees are discounted based on your past 30 day trading volume that start at 0.5% per buy or sell trade.

Trade fees reduce as the trading volume increases (re-calculated every 4 hours) with the lowest fee at a meager 0.05%.

Compared to other crypto exchanges in Australia, Independent Reserve's trading fees are one of the lowest in the country and the main reason it's popular with high net individuals and those wanting to invest their SMSF into Bitcoin.

Deposit Fees

The deposit fees for transferring fiat currency into Independent Reserve depends on the selected deposit method.

  • EFT: Free for deposits above $100.00 (deposit less than this amount incur a $0.99 processing fee)
  • POLi: Incurs a $3.30 processing fee
  • PayID / Osko:  Free for deposits above $1,000 (deposit less than this amount incur a $2.50 processing fee)
  • SWIFT: Free for deposits above $5,000.00 (deposits less than this amount incur a $15.00 processing fee)
  • Crypto: Free

Withdrawal Fees

Withdrawals in AUD do not incur a processing fee. International or non AUD withdrawals incur a $20 fee.  

Users should be aware that crypto withdrawals will carry a network fee that is charged when you withdraw from the exchange. This fee is determined by the blockchain load.

Click here to view the full Independent Reserve withdrawal fees for crypto.

Independent Reserve Security

Site Security

According to the website, Independent Reserve Australia utilizes remote core servers that are securely located at data centers. This allows them to synchronously replicate all data across both locations in real-time, to ensure zero data loss should an exchange hack occur.

To ensure system continuity, Independent Reserve employs a fail-over environment to maintain service in the event of a data compromise.

Wallet Security

Independent Reserve employs a hardware wallet solution to store the overwhelming majority of digital assets.

The cold wallet solution is secured by multi-layer encryption and kept on offline digital hardware storage devices. The hardware is stored in physical vaults in geographically diverse locations.

Two Factor Authentication

To further enhance user security, Independent Reserve offers it users Two Factor Authentication to protect your account against unauthorized access. 

Users are recommended to set up the Independent Reserve Google Authenticator before withdrawing funds from the platform.

This means, investors are required to use a password AND a registered mobile phone in order to authenticate the account at login and to withdraw funds from Independent Reserve Exchange. 

Independent Reserve Alternatives

The following Independent Reserve alternatives are reputable cryptocurrency exchanges in Australia. 


Deposit Method


Our Review







coinjar exchange



Cash Deposit

0.1% - 1%





Cash Deposit

0.1% - 1%


Bank Transfer (EFT)



Cash Deposit

0.5% - 0.9%


Bank Transfer (EFT)

Credit card / Debit card


Frequently Asked Questions

Do I Need To Submit KYC Documents To Start Trading?

KYC procedures are in place before you can trade and withdraw funds from Independent Reserve. New users will need to upload personal identification documentation to access higher limits. This is to protect the exchange and investors against anti-money laundering and counter-terrorism financing.

Does Independent Reserve Have Fund Insurance?

Independent Reserve maintains an Insurance Policy that is available to Premium Members only. 

The Insurance Fund protects users against a breach of Independent Reserve's physical security measures, employee theft or loss of any crypto held in an Independent Reserve wallet.  

Does Independent Reserve Allow SMSF Investing?

Independent Reserve exchange provides a Self Managed Super Fund (SMSF) service to allow every day Australian's to invest in cryptocurrencies such as Bitcoin, Ethereum, Ripple and others. According to the website, Independent Reserve has over 8,000 SMSF accounts. 

Is There An Independent Reserve Trading App?

Independent Reserve does not have a mobile phone app for iOS and Android devices. The web version of the platform is mobile friendly and can be used on smartphones.

Does Independent Reserve Have An Affiliate Program?

Independent Reserve's affiliate and referral program allow users to earn 50% of all brokerage fees paid by the customers you refer for the first 90 days.

Independent Reserve users can share their referral code to invite friends or promote Independent Reserve through content, videos, articles or ad placements.

Which Countries Are Supported On Independent Reserve?

Independent Reserve exchange allows users from the following countries to be verified:

  • Australia
  • Austria
  • Belgium
  • Canada
  • Cayman Islands
  • Czech Republic
  • Denmark
  • Finland
  • France
  • Germany
  • Greenland
  • Hong Kong
  • Hungary
  • Iceland
  • Ireland
  • Isle Of Man
  • Italy
  • Japan
  • Korea, Republic Of
  • Liechtenstein
  • Luxembourg
  • Macao
  • Monaco
  • Netherlands
  • New Zealand
  • Norway
  • Poland
  • Portugal
  • Singapore
  • Slovakia
  • Slovenia
  • Spain
  • Sweden
  • Switzerland
  • Taiwan
  • United Kingdom

Can US Customers Trade With Independent Reserve?

Investors from the United States can’t buy or sell crypto with Independent Reserve. We suggest that US customers read our article on the best fiat-to-crypto exchanges in the world to find a suitable exchange.


To conclude our Independent Reserve exchange review, it is a legit and safe crypto exchange provider that has server thousands of Australians. With one of the lowest trading fees in the country, it's no wonder it's such as popular exchange for beginners and experienced investors.  

There are some improvements however that Independent Reserve should consider:

  • Better charts with advanced tools and features to perform technical analysis
  • Trading app for mobile and ability to check live crypto prices on the exchange

Aside from the above, it is one of the easiest, smoothest cryptocurrency exchanges with a simple deposit process.  Not to mention, the customer support is outstanding. 

independent reserve crypto exchange

You Might Also Be Interested In:

Exchange fees are a very important consideration for any prospective cryptocurrency investor. The following exchanges - in addition to the above exchange - provide very competitive trading, deposit and withdrawal fees with a wide variety of deposit methods that will suit all types of investors in Australia. 

  1. Swyftx
  2. BTC Markets
  3. Zebpay
  4. Bitcoin Australia
  5. Digital Surge
  6. ZipMEX
  7. Easy Crypto
  8. Binance Lite
  9. Coinspot
  10. Mine Digital

Independent Reserve


Ease of use






Deposit methods


Customer support



  • Trusted and reputable exchange
  • Low trading fees
  • Cold storage wallets
  • Support for SMSF
  • Tax calculator


  • Limited charting features
  • Only 12 cryptocurrencies
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Kevin is the founder of hedgewithcrypto and is passionate about blockchain technology. He has been involved with Bitcoin since 2016 after discovering it's potential as an alternative to fiat currency. He is also a trader with over 8 years of experience and is now trading crypto using various platforms. Now, he is focussed on helping others learn about cryptocurrencies via hedgewithcrypto.

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