In This Article
- Facts at a Glance
- Independent Reserve Pros & Cons
- What Is Independent Reserve?
- Independent Reserve Review Australia: Products & Services
- What Cryptocurrencies Can You Trade on Independent Reserve?
- Independent Reserve Fees
- Independent Reserve Wallet
- Independent Reserve Australia Review: Deposits & Withdrawals
- How Secure Is Independent Reserve?
- Customer Support
- Account Types
- Our Independent Reserve Review Methodology
- Independent Reserve Review: Final Verdict
Dating back to 2013, Independent Reserve has long been one of Australia’s most recognisable crypto exchanges. Over a decade, it has positioned itself as a top destination for institutional investors and experienced crypto traders.
If you want to be one of the 450,000 Australians and people from other countries who actively trade here, you can claim a $20 bonus in BTC once you sign up with our link and start trading. The platform offers you the chance to buy and sell crypto with AUD, store it in a safe custodial wallet, open different accounts, and so much more.
Beyond a free bonus, what are the pros and cons of the exchange? Check out our independent thoughts in our Independent Reserve review.
Our Verdict on Independent Reserve
- With over 450,000 users, most of whom are Australian, Independent Reserve is one of Australia’s leading crypto exchanges.
- The exchange offers both standard and advanced trading features, including auto trading and leveraged trading, making it ideal for experienced speculators.
- The exchange supports 37 cryptocurrencies and accepts payments via bank transfer, PayID, Visa, Mastercard, and PayPal.
- Independent Reserve features a competitive fee model, with trading fees decreasing as your trading volume increases.
- The platform caters to high-net-worth individuals, businesses, and institutions, offering dedicated account types and OTC desk transactions exceeding $50 million.
Facts at a Glance
- Owner: Independent Reserve (to be acquired by IG Group)
- Founded: 2013
- License: AUSTRAC
- Certifications: ISO 27001
- Number of users: 450,000+
- Type of exchange: Custodial CEX
- Supported cryptocurrencies: 37, including BTC, ETH, USDT, and XRP
- Deposit methods: Bank transfer, PayID, SWIFT, Visa, Mastercard, PayPal
- Withdrawal methods: Bank transfer, PayID, SWIFT
- Fiat currencies: AUD, USD, NZD, SGD
- Features: Crypto exchange, different account types, OTC trading desk, API, adviser program, AutoTrader, leveraged trading, merchant solutions, remittance & payments, wallet
- Mobile app: iOS and Android
- Trading fees: From 0.5% to 0.02%
Independent Reserve Pros & Cons
Pros:
- Ideal for both standard and advanced crypto trading
- Supports buying and selling of 37 cryptocurrencies
- Uses a tiered system for trading fees that go from 0.5% to 0.02%
- The OTC desk can handle transactions higher than $50 million
- Very transparent about its trading, deposit, and withdrawal fees
- Regulated by AUSTRAC and ISO 27001 certified
- Top-notch security measures and 1:1 reserves
Cons:
- Supports a relatively low number of altcoins compared to others
- Doesn’t offer customer support via live chat or phone
What Is Independent Reserve?
Independent Reserve is an Australian crypto exchange that operates mainly in Australia, but also in New Zealand, Singapore, and more than 30 other countries.
It was launched in 2013, making it one of the oldest in the country, together with bitcoin.com.au, another prominent crypto exchange that’s been part of the Independent Reserve family since 2023. You can learn about it in our bitcoin.com.au review.
Adam Tepper and Adrian Przelozny were the co-founders, with Tepper as the CEO. After he passed away in 2015, Adrian Przelozny became the CEO.
The company has expanded significantly since 2018, when Mike Tilley and KTM Ventures entered the picture by acquiring 25% of the company.
In September 2025, it was announced that IG Group, a UK-based online trading provider, would acquire Independent Reserve for $178 million.
The platform is made for both experienced crypto traders and institutional crypto investors, which is why it allows the creation of different types of accounts. It lets you trade 37 cryptocurrencies using several payment methods and boasts several advanced features, including leveraged trading and auto trading.
Thanks to its well-rounded offer and accessibility to Australians, Independent Reserve is also our top choice for beginners learning how to buy Bitcoin in Australia.
Independent Reserve Review Australia: Products & Services
Independent Reserve is primarily a crypto exchange designed for Australians to buy and sell 37 cryptocurrencies with Australian dollars easily. The trading platform is designed with this in mind, coming with both an easy-to-use interface and favourable trading fees.
Besides the digital currency exchange, the platform also offers leveraged trading, allowing you to trade with funds loaned by the platform. There’s also a simple auto-trading service that will enable you to create automated trades.
Independent Reserve caters to professional traders and investors, which is why it also offers an advanced trading platform filled with charts and numerous other useful tools and metrics.
The site offers a custodial wallet embedded into the exchange, while you can also use an iOS or Android app for trading.
What Cryptocurrencies Can You Trade on Independent Reserve?
Independent Reserve supports the trading of 37 cryptocurrencies. Although a small number, it’s still a good mix of major coins and some niche cryptos, including:
- Bitcoin (BTC)
- Ethereum (ETH)
- Solana (SOL)
- Ripple (XRP)
- Tether (USDT)
- USD Coin (USDC)
- Dogecoin (DOGE)
- Avalanche (AVAX)
- Maker (MKR)
- Pepe (PEPE)
- Official Trump (TRUMP)
- 0x (ZRX)
All of these cryptocurrencies are available for both spot and leveraged trading on Independent Reserve.
Independent Reserve Fees
The trading fees on Independent Reserve start at 0.50%, but can get progressively lower the more you trade. The platform tracks your 30-day trading volume and adjusts the cost accordingly. The lowest fee is 0.02% for a trading volume of $200 million.
Leveraged trading uses the same fee structure, and there is no fee for opening or closing a position. However, there’s a 0.1% daily interest and a 1% mandatory liquidation fee applied to your entire loan. Both are charged when you close your position.
Crypto and bank transfer deposits are free of charge, but there’s a 1% fee on bank cards and PayPal, and a 3.5% fee on international cards.
As for withdrawals, only EFT withdrawals in AUD are free. PayID carries a fixed $1.50 fee, while crypto withdrawals come with a specific fee that depends on the coin or token you’re transferring out of the site.
Assisted transfers, whether they are deposits or withdrawals, have a fixed $20 fee.
| Fees | Costs |
| Spot trading fees | From 0.5% to 0.02% |
| Leveraged trading fees | From 0.5% to 0.02% |
| Deposit fees | Crypto, bank transfers – free
Bank cards, PayPal – 1% International bank cards, NZD bank card – 3.5% NZD SWIFT – NZD 15 (deposits up to NZD 5,000) USD SWIFT – USD 15 (deposits up to USD 5,000) |
| Withdrawal fees | EFT – free
PayID – $1.5 USD to AUD bank account – $50 NZD withdrawal – NZD 29 USD SWIFT – USD 20 Bitcoin – 0.0002 BTC Ethereum – 0.005 ETH Tether (ERC-20) – 10 USDT |
| Spread | None |
| Crypto storage | None |
User Experience: Is Independent Reserve User-Friendly?
The Independent Reserve website, although geared toward experienced traders and companies, remains highly user-friendly through its minimalist, contemporary design. It’s very easy to use, and the same goes for the trading platform.
The portal is designed for simplicity, and navigation is straightforward. Companies and institutions receive additional support from the OTC desk, where they trade with the assistance of experienced traders employed by Independent Reserve.
Independent Reserve Mobile App
Independent Reserve offers mobile apps for iOS and Android devices, which are certainly a better alternative to accessing the exchange via a mobile browser.
The apps let you buy, sell, and store with ease through a similar interface to the site, but optimised for the small screen. You can also get real-time updates through push notifications, and the app is available in light and dark modes.
The apps have also been well received by users, with a 4.8 rating on the App Store and over 50k downloads on the Google Play Store.
Features & Tools
This Australian crypto exchange has several tools and features you should know about, which is why this portion of my Independent Reserve review is dedicated to them. Together, these features make Independent Reserve one of the best Bitcoin exchanges in Australia.
Leveraged Trading
Independent Reserve offers leveraged trading, where you get to buy and sell crypto using funds loaned to you by the site.
However, since this carries significant risk, the platform has developed a test you need to take to see if you’re suited for this type of trading. While it might seem like an inconvenience, leveraged trading can be incredibly costly if you’re not sure what you’re doing.
Leveraged trading is offered on the following pairs: BTC/AUD, ETH/AUD, DOGE/AUD, SOL/AUD, and XRP/AUD.
Advanced Trading
Independent Reserve offers a separate advanced trading section with the same trading interface, plus more detailed charting options, various indicators, and more. You can even personalise the look of the charts to transform the interface into something you’re more used to.
AutoTrader
The free-to-use auto trading feature lets you create automated crypto trading strategies on the Independent Reserve exchange. You can set an Auto-Buy option after a deposit is made, an AutoBasket option that automatically buys a basket of cryptocurrencies upon deposit, or an AutoSchedule option for buying or selling on a regular schedule.
OTC Service
Independent Reserve offers a crypto OTC trading desk for experienced investors, high-net-worth individuals, businesses, and institutions to trade larger amounts. The service provides fast onboarding and settlements, as the brand’s traders ensure users’ trades are executed quickly and professionally.
The OTC desk offers deep liquidity, enabling you to trade from $50,000 to $50 million and beyond. Once you’ve onboarded, you get a direct line to the trading experts of the OTC desk that’s open on business days from 9 a.m. to 8 p.m. Sydney time.
Crypto Trading Solutions for Businesses
Businesses can integrate crypto trading services into their platforms via API. The exchange offers deep liquidity and competitive prices, while onboarding and integration are personalised.
Independent Reserve Wallet
Independent Reserve offers a simple custodial wallet that’s embedded with the exchange. The wallet is designed to hold both fiat and crypto, allowing you to trade on the Independent Reserve exchange with ease.
The wallet is highly secure and fully encrypted. The exchange takes excellent care to keep all the user funds safe. In essence, the vast majority of crypto is kept in cold storage, while the brand also offers 1:1 reserves on all fiat and crypto funds.
However, despite all that, the wallet is still custodial, meaning Independent Reserve retains control of your private keys and is ultimately the true custodian of your crypto funds.
To ensure that your crypto is absolutely yours, opt for a non-custodial wallet. It’s best to store the majority of crypto funds in such a wallet, while your trading funds remain in the Independent Reserve wallet. You can choose one from our list of the best decentralised crypto wallets.
Bear in mind that this opinion in no way discredits the safety of Independent Reserve and is based on standard crypto safety practices. It’s one I give in every analysis of a centralised exchange, so it naturally had to have a place in my Independent Reserve review.
Independent Reserve Australia Review: Deposits & Withdrawals
Australians can use several payment methods for deposits and withdrawals. You can deposit or withdraw any of the 37 supported cryptocurrencies.
When it comes to fiat, Australians can make payments in AUD, NZD, or USD. The good news is that payments in Australian dollars incur the lowest fees.
For deposits, you can use bank transfer (EFT or PayID), credit and debit cards, PayPal, and SWIFT (NZD and USD). Card and PayPal deposits are largely instant, EFT deposits take 1–2 business days, while SWIFT deposits are processed within 2–3 business days.
As for withdrawals, you can use EFT, PayID/NPP instant, and SWIFT(NZD and USD). Only PayID/NPP withdrawals are handled quickly, within minutes, while EFT withdrawals are processed the following business day. If you want to withdraw from a USD account to Australian bank accounts, the processing time is 2–3 business days.
| Payment method | Maximum deposit | Maximum withdrawal | Withdrawal time |
| Bank transfer (EFT or PayID) | User-based | None | Next business day |
| Credit and debit cards | User-based | N/A | N/A |
| PayPal | User-based | N/A | N/A |
| PayID/NPP instant | User-based | $200,000 | Within minutes |
| Cryptocurrency | Depends on crypto | Depends on crypto | Instant or near instant |
How Secure Is Independent Reserve?
As a fully licensed Australian digital asset exchange serving all types of clients, Independent Reserve maintains strict security features and standards.
It maintains a 1:1 reserve for all client funds, both crypto and fiat. Moreover, the majority of crypto funds are held in cold storage, i.e., offline, making them safe from cyberattacks.
Moreover, the company has segregated accounts for its own funds and those of its clients, all in an effort to protect the funds from attacks on its own accounts and allow users to withdraw their assets whenever they want.
External auditors regularly review the platform, all in accordance with the Australian Accounting Standards.
Moreover, clients’ hot wallet private keys are always multi-layer encrypted with geographically dispersed keys to make them as safe as possible from cyberattacks.
If you want to protect your account further, Independent Reserve has you covered in that regard as well. The platform supports 2FA via Google Authenticator, with an SMS backup as an optional feature. You can also change your email whenever you want, receive email notifications for each login, and track all logins to your account.
The brand also has an interesting feature that blocks all crypto and instant withdrawals for 72 hours after account details have been changed.
Customer Support
Customer support is primarily handled via a 24/7 ticketing system available to you in the support area of the platform. You can also contact the agents via email at [email protected].
Unfortunately, response times aren’t the best, and there’s no live chat or phone support, so you won’t get instant service.
Thankfully, the site has an excellent Help section with explanations, blog posts, and FAQs about the exchange’s services, as well as how to troubleshoot common problems.
Account Types
Independent Reserve offers several account types for personal and business use. Regular users can choose between:
- Personal: This is the default account every standard user should get.
- SMSF: If you need an account for your self-managed super fund (SMSF), this is the one to get.
- Trust: Independent Reserve offers this account type for trusts to invest in crypto.
Businesses have two more account types at their disposal besides a trust and an SMSF account:
- Company: Most companies should choose this type of account, as it is tailored to each business’s needs.
- Institutional: This account type is designed for direct investment and integration for institutions.
How to Use Independent Reserve
Getting started with Independent Reserve isn’t complicated, but I’ve prepared a simple guide to get you acquainted and simplify the process.
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Sign Up
Use our link to visit the official website and begin the registration process. Pick a username and password and provide your email. Verify your email through the link sent to your inbox.
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Choose Account Type and Country
Pick the account type, personal in this case, and then choose your country of residence. Australia is separate from the rest.
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Enter Personal Details
You’ll get a set of steps that require you to enter your personal details, such as your date of birth and address. Ensure all the information is correct and your own, as you’ll have to verify your identity later on.
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Verify Phone Number and Identity
The verification process starts with the phone number. You provide the number, and you receive an SMS with a code you need to enter on Independent Reserve. Then you’ll need to provide the necessary documents to verify your identity, age, and location, using a government-issued ID and a utility bill or bank statement. You also need to take a selfie. Once done, the site’s full capabilities will be unlocked.
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Make a Deposit
To make a deposit, visit the wallet section and click on Deposit next to the currency you wish to send. If you’ve chosen AUD, you’ll need to select the deposit method and provide the required details to complete the deposit. Follow the steps outlined by the platform, and you’ll quickly transfer funds to the site.
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Start Trading
Once the funds are in your account, you can start trading. Visit the Trade section and select the coin you want to buy. All you need to do is enter the amount and place the trade. The platform will do the rest.
How to Sell Crypto on Independent Reserve
Selling crypto on Independent Reserve is just as simple as buying. It’s done on the same Buy/Sell page; you just need to click Sell next to the cryptocurrency you wish to exchange.
In the new window, enter the amount you want to sell, check the calculated price, and complete the exchange. You’ll soon see the corresponding amount of AUD in your Independent Reserve account.
How to Withdraw Funds From Your Independent Reserve Account
You can withdraw both fiat and crypto from your Independent Reserve account. For both, you need to visit the wallet and click Withdraw next to the currency you want to withdraw. Then you only need to add the payment method details or the crypto wallet address to complete a withdrawal, along with the amount.
Once you complete the request, it will be shown as pending. After approval, you’ll see the assets in your chosen account.
Our Independent Reserve Review Methodology
The team here at 99Bitcoins and I have developed a detailed crypto exchange review method, which we’ve been using for a while now, constantly improving it as the industry advances.
It’s all about analysing exchanges using the same set of criteria, emphasising what makes each unique and outlining its drawbacks. We do this to separate ours from other Independent Reserve reviews and provide you with an honest analysis of the platform.
Naturally, we focus on security and regulation first because we need to ensure that an exchange like Independent Reserve is designed for the Australian market and has everything it needs to operate legally and safely.
Once that’s established, we move on to the products it offers and who they are for, the fee system, the features and trading tools, user experience, customer support, and everything else that matters. By the end, we have a clear picture of the platform’s quality.
Independent Reserve Review: Final Verdict
Independent Reserve is a high-quality crypto exchange made by and for Australians. Besides trading 37 cryptocurrencies, it also allows creating multiple accounts, auto-trading, and leveraged trading.
Its main strengths are excellent security, competitive fees, and its ability to serve individuals, companies, and institutions.
Although it has a few drawbacks, such as poor customer support and only 37 available cryptocurrencies, it’s still an excellent choice for advanced traders and businesses throughout Australia.
Remember, you can receive $20 in free BTC as a registration bonus when you use our link.
Independent Reserve
Pros
- Low trading fees
- Strong security measures
- Licensed and regulated
- User-friendly interface
- OTC desk
Cons
- Limited altcoin selection
- No live chat
FAQs
Is Independent Reserve legit in Australia?
Yes, it’s a fully legitimate exchange in Australia as AUSTRAC regulates it, and it has been on the market for well over a decade. Moreover, it’s ISO 27001 certified, regularly audited, and boasts an untarnished track record.
Is Independent Reserve an Australian company?
Yes, Independent Reserve is an Australian company. It was founded in 2013 in Australia and still has its headquarters in Sydney. Moreover, it’s entirely focused on Australia, despite serving over 30 countries, and features a licence from AUSTRAC.
Is Independent Reserve better than CoinSpot?
One is not necessarily better than the other, as it really depends on what you need an exchange for. Independent Reserve is more suited for experienced traders looking for lower fees and advanced features, while CoinSpot is more suited for casual investors and beginners who want to trade hundreds of altcoins.
How secure is an Independent Reserve?
Independent Reserve is very safe as it clearly prioritises safety by implementing numerous measures, including cold storage for most crypto assets, 1:1 reserves for all client funds, regular audits, and holding an ISO 27001 certification.
References
- Independent Reserve (Independent Reserve)
- Crypto asset transactions (Australian Taxation Office)
- What is ISO/IEC 27001? (ISO.org)
- Digital currency (cryptocurrency) (AUSTRAC)
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