Last update: Jun 28, 2022
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Independent Reserve Review

With a reputation for being one of the best digital currency trading platforms available, Independent Reserve is also one of the most trusted. The platform hosts more than 200,000 members and is suitable for beginners who are eager to learn through experience as well as education.

  • Independent Reserve

    1. Operating Since 2013
    2. Currencies Supported 30+ cryptocurrencies
    3. Fees Varies
    4. Deposit Methods EFT, PayID, POLi, Osko, SWIFT, debit card
    5. Fiat Currencies Yes
    6. Verification Methods 2FA
    7. Margin Trading No
    8. Futures Trading No

Independent Reserve strives to stand out from the many cryptocurrency exchanges available, providing its traders with a secure fiat currency to cryptocurrency exchange that runs seamlessly. At Independent Reserve, their primary goal is to do things the right way.

You can learn more about all that this popular digital currencies trade platform has to offer in this Independent Reserve review and see if it may be the right fit for your cryptocurrency trading.

About Independent Reserve

Independent Reserve was founded in 2013 in Sydney, Australia, the product of a partnership between Adrian Przelozny and Adam Tepper. Noteworthy specialists in the world of digital platforms and digital security, the company was designed to provide a digital currency platform that educated people about cryptocurrency trading, helping them understand it and use it for themselves.

Today, Independent Reserve is considered one of the best Australian crypto exchanges out there, a significant distinction in a country well-known for its highly regulated financial sector. They are incredibly supportive of new investors and have built a platform that is easy for even beginners to use.

Supported Digital Currencies

Independent Reserve supports several of the most popular cryptocurrencies on their crypto exchange. You can trade the following digital currencies on Independent Reserve:

  • Bitcoin (BTC)
  • Bitcoin Cash (BCH)
  • Ethereum (ETH)
  • Ethereum Classic (ETC)
  • Litecoin (LTC)
  • Ripple (XRP)
  • EOS (EOS)
  • Stellar Lumens (XLM)
  • Augur (REP)
  • Basic Attention Token (BAT)
  • Ox (ZRX)
  • OmiseGO (OMG)
  • Golem (GNT)
  • PlayChip (PLA)
  • Cardano (ADA)

Suppose you are new to digital currency trading and want to learn more about digital currencies, how the exchange works, and how Independent Reserve keeps your data and money safe. In that case, there is a wealth of educational materials and information available on their website.

Payment Methods

You can link your bank account with Independent Reserve and make deposits using your debit card or a regular bank transfer. Independent Reserve does not support deposit methods of credit cards. You can also instantly deposit funds via EFT, PayID, POLi, Osko, or by SWIFT transfer and start trading immediately.

Independent Reserve’s Trading Features

Independent Reserve offers several notable features that assist with trading strategies, investment management, and calculating taxes and fees.

OTC Trading Desk

The OTC (Over the Counter) desk offers assistance for traders interested in large-scale trading who need high-liquidity platforms for making orders. The OTC trading desk is ideal for high net-worth investors, clients associated with financial institutions, and SMSFs (Self-Managed Super Funds).

KPMG Tax Estimator

Developed by KPMG, the tax estimator allows you to calculate tax obligations on the digital currency investments in your portfolio.


This free-to-use feature enables traders to implement automated strategies from Independent Reserve’s cryptocurrency trading strategy library.

Additional trading features include:

  • Real-time cryptocurrency market data
  • Option to create an SMSF account

Independent Reserve also supports multi-currency orders, which allows you to swap your order for your preferred currency. This gives you a trading advantage in that you can get the best prices on your digital currency trades. Supported order types include:

  • Market buys
  • Market sells
  • Limit buys
  • Limit sells
  • Stop limit buys
  • Stop limit sells

You can also view all your market orders regardless of the fiat currency they are associated with.

Crypto Insurance

Premium account users can access an insurance feature that protects their digital currency assets if Independent Reserve’s website is hacked. Insurance is available in packages offering basic Starter coverage to comprehensive Diamond coverage.

The insurance does not cover losses from unauthorized access to the account, but it covers losses caused by employee theft or a cold storage breach.

Fees and Limits

Digital currencies are not regulated in the same manner as currencies in the traditional financial market, so you should expect trading fees for various services within Independent Reserve.

Certain exchange services do not incur fees when you use Independent Reserve, such as cryptocurrency deposits and withdrawals in the Australian dollar (AUD). You can also receive a brokerage fee discount based on your 30-day trade volume and fee discounts when purchasing an account plan.

It’s also crucial to keep in mind that crypto withdrawals contain a network fee determined by the blockchain load.

Withdrawal Fees

International and non-Australian dollar withdrawals like USD have a set withdrawal fee of $20. Withdrawal fees, which are relevant to the specific supported cryptocurrency, can be viewed on Independent Reserve’s website.

Customer Service

This Independent Reserve review details their customer service and how they ensure a quality experience for its users.

Support Team

Independent Reserve offers high-level support for their customers and their success as their customer-centred business practices greatly influence a company.

The Independent Reserve website provides a secure support channel where they will answer any questions and help handle any problems. Customer data is carefully protected through the support process. If logging in to the website is part of the problem, a separate secure form is offered to users to allow access to support.

Independent reserve also offers customer support email for additional access.


Independent Reserve offers several different security features to protect you during currency trading. These security features protect your financial information and your trading data.

Independent Reserve uses two Tier-3 data centres to continually update data sources and ensure that trading continues even if one server suffers an outage or complete breakdown. All data replicates between the two data centres in real-time, so no data is lost in the event one site goes down.

Account safety is maintained with several layers of security protection. The first layer of account security is the account password. Independent Reserve offers a duress password function, which allows you to lock your account entirely for 24 hours if your password is stolen.

Another security measure used to protect your information and assets is two-factor authentication. Independent Reserve ensures that your data and assets are kept safe by requiring you to identify yourself in two different ways. Two-factor authentication is required whenever you make a withdrawal or log in to your account.

Independent Reserve’s two-factor authentication is accomplished with an app called Google Authenticator. The process requires entering the necessary information, such as a password or PIN, and then entering a code sent to a pre-validated device such as your phone or computer.

Independent Reserve requires confirmation of your identity for secure exchanging. You’ll need to validate your email, address, and phone number to confirm your identity. You’ll also need to establish a second phone number to allow for two-factor authentication.

Once your identity is confirmed, additional personal information is legally required. Independent Reserve uses this extra personal information to compare your identity between databases to ensure no fraudulent activity is connected to you as a trader.

Cold Storage of Your Digital Assets

Digital currencies are “bearer instruments,” meaning whoever is in possession (the bearer or holder) of the private key for those digital assets is considered the owner. Therefore, those private keys must always be secure.

Independent Reserve uses Cold Storage to store most of the digital assets it holds. Cold Storage is secured by multi-layer encryption and maintained on offline storage devices. This hardware is stored in physical vaults in several underground locations, employing the best security for all digital assets in holding.

Independent Reserve Review – Pros & Cons


  • Cold storage for your assets
  • Highly trusted with an excellent reputation, primarily due to its high level of transparency
  • Built-in tax calculator
  • Self-Managed Super Fund set-up and investment in cryptocurrencies


  • Digital currencies available for exchange are limited; only 24 assets are listed of the more than 4,000 digital currencies in circulation
  • Trading and deposit fees are higher with Independent Reserve than with other cryptocurrency exchanges

Independent Reserve Competitors

A number of crypto exchange platforms offer a competitive alternative to Independent Reserve, which include Swyftx, Coinspot, eToro, Binance, CoinJar, Cointree, Digital Surge, BTC Markets, and Coinbase.

If you want to find out more about these Independent Reserve alternatives, you can check out our Best Crypto Exchanges in Australia for 2024 article.

Independent Reserve Review – Frequently Asked Questions

What Countries Are Supported By Independent Reserve?

Independent Reserve operates everywhere cryptocurrency exchange is legal. However, you must first pass through an identity verification for AML purposes before you are authorized to use the exchange. Certain countries have faster verification rates for accounts, including:

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

You may be subject to longer review times or even rejection if you live outside of these countries. Since the list of verifying countries is so extensive, this isn’t a significant downside to Independent Reserve.

Does Independent Reserve Have a Mobile App?

No, Independent Reserve does not have its own app. All trading and account management are done through the Independent Reserve website. The website is mobile-friendly, though, so you can access all elements of your trading accounts and platform from your phone or tablet and your computer.

An unofficial app is available from CoinBucket for Android users, but this app is new, and little is known about its security or performance. Independent Reserve does not offer this app, and it is not official.

Do I Need a Digital Currency Wallet When Using Independent Reserve?

You are not required to have a crypto wallet with Independent Reserve, but the exchange does have an online wallet for account holders to use. You can use your Independent Reserve crypto wallet to store your private exchange key. Through their secure transfer system, you can transfer your digital currencies to a personal cryptocurrency wallet at any time.

Does Independent Reserve Have an Affiliate Program?

Yes, Independent Reserve offers a competitive affiliate and referral program to traders, allowing you to earn up to a 50% commission on brokerage fees that your referral pays during the first 90 days of trading.

When you join the program, you receive a unique referral code that you can use to promote Independent Reserve through social media and invite your friends to sign up.

What Fiat Currency Does Independent Reserve Support?

The crypto trading exchange facilitates trading crypto assets in four fiat currencies which include SGD, NZD, USD, and AUD. Moreover, Independent Reserve comes with a multi-currency order book which automatically converts all open orders into your preferred fiat currency.

Is Independent Reserve Legit?

This crypto exchange is not only a legit but trustworthy company headquartered in Sydney, Australia. Independent Reserve is regulated by prominent financial sector govered in Australia to ensure proper conduct and operations with the investor’s money. It’s one of the first crypto exchange platforms in Australia to be a reporting entity to the government agency Australian Transaction Reports and Analysis Centre or AUSTRAC.


Hopefully, our Independent Reserve review answered your questions regarding the user-friendly exchange platform with a beautiful user interface and easy-to-use features. It offers multiple options for deposits and withdrawals and low fees or no fees for trading digital currencies.

Their security systems are top-notch, and their customer service responsive and accessible. However, it could be helpful to include options for phone support or other online points of contact, such as a chat option.

If you’re just getting started with cryptocurrency trading and want a user-friendly, functional platform that provides easy-to-use tools, educational materials, and a secure system for even beginners to buy Bitcoin and altcoins and sell them, then Independent Reserve is an ideal choice for you.



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author Marco Vela

A crypto obssessed digital marketer passionate about making a difference in the world. When he's not behind the computer he can be found hiking, camping and relaxing with his dog.