Independent Reserve employs a fee discount system with 28 levels, with commissions starting from 0.5% down to 0.02% for traders with $200M+ 30-day trading volume.
Besides, the exchange provides leveraged trading with access to maximum leverage of 5x.
Independent Reserve Information + Regulation
Independent Reserve is a cryptocurrency exchange founded in 2013 in Sydney, Australia.
The brainchild of Adam Tepper, Adrian Przelozny, and Lasanka Perera, the platform is now led by Adrian Przelozny as Group CEO.
Currently, the company with the legal name "Independent Reserve Pty. Ltd." serves 400,000+ clients.
This platform is registered as a Digital Currency Exchange (DCE) with the Australian Transaction Reports and Analysis Centre (AUSTRAC) under the code DCE-100461150-001.
It is also regulated by the Australian Securities & Investments Commission (ASIC). The company is headquartered at Level 26, 44 Market Street, Sydney, 2000, New South Wales, Australia.
In Singapore, it holds a Major Payment Institution license issued by the Monetary Authority of Singapore (MAS), becoming the first crypto exchange to receive such approval under the Payment Services Act.
Independent Reserve Crypto Exchange Key Specifications
As it happens in every other crypto exchange review article on this website, here is a table summarizing the discussed platform's features and offerings:
Exchange | Independent Reserve |
Launch Date | 2013 |
Levels | None |
Trading Fees | 0.5% Down to 0.02% |
Restricted Countries | United States, China, Turkey, Iran, North Korea, Afghanistan, Syria, etc. |
Supported Coins | 32 |
Futures Trading | None |
Minimum Deposit | $1 |
Deposit Methods | Bank Transfers, Crypto Transactions |
Withdrawal Methods | Bank Transfers, Crypto Transactions |
Maximum Leverage | 5x |
Minimum Trade Amount | N/A |
Security Factors | 2FA, 1:1 Reserves, Audits, Segregated Funds, Cold Storage, Multi-Layer Encryption of Hot Wallet Private Keys, Browser Whitelisting |
Services | Leveraged Trading, AutoTrader, OTC Desk |
Customer Support Ways | Ticket, Email |
Customer Support Hours | 24/7 |
Fiat Deposit | Yes |
Affiliate Program | Yes |
Orders Execution | Market |
Native Token | None |
Notable Pros and Cons
Here are some of the most important and critical benefits and drawbacks of trading with Independent Reserve. Look at the table below:
Pros | Cons |
Registered with AUSTRAC | No Futures Trading Available |
Various Security and Safety Measures | Relatively Low Number of Tradable Coins/Tokens |
Fiat Currency Support | Relatively High Trading Fees |
Does Independent Reserve Employ Any User Level Systems?
This exchange does not employ any tiered user level structure or similar models for its clients. However, there is a fee discount system based on the trading volume, which will be examined in the next section.
Trading Fees and Other Commissions
Independent Reserve offers a fee structure based on 30-day trading volume, starting at 0.5% and decreasing to 0.02% for high-volume traders. Trading Commission Levels:
30D Trading Volume (AUD) | Fees |
0 | 0.50% |
50,000 | 0.48% |
100,000 | 0.46% |
200,000 | 0.44% |
300,000 | 0.42% |
400,000 | 0.40% |
500,000 | 0.38% |
600,000 | 0.36% |
800,000 | 0.34% |
1,000,000 | 0.32% |
1,200,000 | 0.30% |
1,400,000 | 0.28% |
1,600,000 | 0.26% |
1,800,000 | 0.24% |
2,000,000 | 0.22% |
2,500,000 | 0.20% |
3,000,000 | 0.18% |
3,500,000 | 0.16% |
4,000,000 | 0.14% |
4,500,000 | 0.12% |
5,000,000 | 0.10% |
10,000,000 | 0.08% |
15,000,000 | 0.07% |
30,000,000 | 0.06% |
50,000,000 | 0.05% |
100,000,000 | 0.04% |
150,000,000 | 0.03% |
200,000,000 | 0.02% |
Also, the exchange charges a fee for deposits and withdrawals in most cases. However, crypto deposits are free at any case.
Available Trading Symbols on Independent Reserve
This exchange offers a curated selection of over 30 cryptocurrencies, focusing on established and reputable projects. The available cryptocurrencies include:
- Bitcoin [BTC]
- Ethereum [ETH]
- Ripple [XRP]
- Litecoin [LTC]
- Tron [TRX]
- Bitcoin Cash [BCH]
- Maker [MKR]
- The Graph [GRT]
- The Sandbox [SAND]
- And more
The platform supports trading against four fiat currencies: AUD, NZD, SGD, and USD - making it particularly accessible to users in Australia, New Zealand, and Singapore.
For institutional and high-net-worth clients, Independent Reserve also provides over-the-counter (OTC) trading services with deep liquidity and personalized execution.
Futures Market and Margin Trading
At the time of writing this review, Independent Reserve offers a certain feature called "Leveraged Trading", which is the same as margin trading.
It enables traders to earn amplified profits at the risk of amplified losses. The maximum leverage available on the platform is 5x.
You can trade these pairs with leverage:
- BTC/AUD
- ETH/AUD
- XRP/AUD
- DOGE/AUD
- SOL/AUD
Account Opening and Identity Authorization Tutorial
Creating an account with Independent Reserve is a simple process that is not complex. However, the verification takes some time and will be processed in 24 hours.
#1 Visit the Independent Reserve Official Website
To begin the registration process, visit the official website of the platform. Once you're on the homepage, look for the "Start today" or "Create your account" button and click on it to start signing up.
#2 Create a Username and Set Your Password on Independent Reserve
Next, you'll be prompted to create a username, provide your email address, and set a strong password. Make sure your password follows the platform’s required conditions, such as including a mix of letters, numbers, and special characters, to ensure account security.
#3 Submit the Verification Code sent by Independent Reserve
After submitting your information, you'll receive a verification code sent to your email address. Enter this code into the platform to confirm your email and complete the registration process.
#4 Independent Reserve KYC
Now, you have your account opened on the platform. For the activation and identity verification, you will need to provide additional details like country of residence, identity information as shown in your ID, home address, and more. Also, you must submit the required documents.
Independent Reserve Platforms and Applications
The exchange offers a proprietary trading platform designed for both desktop and mobile use:
- Web-Based Platform: A sleek, intuitive interface with useful trading tools accessible from any modern web browser
- Mobile App: Available for iOS and Android devices, offering full trading functionality on the go
Exchange Safety; Is It Secure Enough?
Security is a top priority for Independent Reserve, and the exchange employs multiple layers of protection:
- Two-Factor Authentication (2FA)
- 1:1 Reserves (fully backed customer assets)
- Regular third-party audits
- Segregated client funds
- Cold storage for the majority of crypto assets
- Multi-layer encryption for hot wallet private keys
- Browser whitelisting for added account security
- Bug Bounty
This crypto platform has taken more security measures than most other exchanges in the industry.
Payment Methods for Deposits and Withdrawals
Independent Reserve supports a variety of options for deposits and withdrawals. We will briefly review the selection here:
- Cryptocurrency: Direct deposits and withdrawals for supported cryptocurrencies
- Fiat Currencies: Withdrawal to bank accounts (AUD, USD, NZD, SGD), Electronic Funds Transfer (for depositing AUD), Osko (AUD deposits), SWIFT (international wire transfers for deposits)
AUD withdrawals are free of charge. For non-AUD withdrawals, a fee of $20.00 applies. Cryptocurrency withdrawals also have specific fees: Bitcoin (XBT) withdrawals incur a fee of 0.0001 XBT, while Ether (ETH) withdrawals carry a fee of 0.001 ETH.
Additionally, withdrawals through the Airbridge™ API are free.
Independent Reserve Trust Evaluations and Scores
Trust scores from various platforms such as Trustpilot, ScamAdviser, and CoinGecko provide insight into user experiences and overall reputation:
- Trustpilot: 2.5/5 stars (based on 90+ reviews)
- ScamAdviser: 100/100 Trustscore, 2.5/5 user reviews score (95+ ratings)
- CoinGecko: 7/10 Trust Score
The high ScamAdviser Trustscore and solid CoinGecko rating suggest that Independent Reserve is a legitimate and trustworthy platform overall.
Independent Reserve Features
Let's check the availability of advanced features on the exchange; Independent Reserve Features:
Staking | Yes |
Yield Farming | No |
Social Trading | No |
Liquidity Pool | No |
Crypto Cards | Yes |
Independent Reserve Exchange Support
Customer support options on the discussed exchange include:
- Email: support@independentreserve.com
- Ticket System: Only available to registered clients
The company claims to offer customer services on a 24/7 basis. However, the lack of live chat or phone support may be a drawback for users who prefer immediate assistance.
Copy Trading and Passive Income Options
Based on our investigations, Independent Reserve does not offer a copy trading service with such title. However, a feature named "AutoTrader" is provided which works in a similar way to copy trading platforms; you can use automated crypto trading strategies offered in the library and earn profits.
There are no additional commissions for implementing these strategies. Also, strategies do not have a expiry time.
Banned Countries and Regions of Independent Reserve
The exchange operates globally and accepts clients from most countries. However, some countries are restricted because of the international sanctions or local regulations. The list includes, but is not limited to:
- China
- United States
- Iran
- North Korea
- Oman
- Turkey
- Sudan
- Nigeria
- Turkmenistan
- Afghanistan
- Syria
- Thailand
Independent Reserve Comparison Table
Let's compare Independent Reserve features with its rivals; Independent Reserve Comparison:
Features | Independent Reserve Exchange | |||
Number of Assets | 32 | 150+ | 1300+ | 700+ |
Maximum Leverage | 5x | 1:125 | 1:100 | 1:200 |
Minimum Deposit | $1 | $1 | N/A | 1 USDT |
Spot Maker Fee | 0.5% Down to 0.02% | 0.02% - 0.1% | 0.005% - 0.1% | 0.0126% - 0.2% |
Spot Taker Fee | 0.5% Down to 0.02% | 0.04% - 0.1% | 0.015% - 0.1% | 0.0218% - 0.2% |
Mandatory KYC | Yes | Yes | Yes | Yes |
Futures Trading | None | Yes | Yes | Yes |
Mobile Application | Yes | Yes | Yes | Yes |
Fiat Payment | Yes | Yes | Yes | No |
Staking | Yes | Yes | No | Yes |
Copy Trading | N/A | Yes | Yes | Yes |
Writer's Opinion and Conclusion
Independent Reserve, serving over 400,000 traders across the globe, has a ISO 27001 certification and is a member of the Digital Economy Council of Australia.