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Independent Reserve Review

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Independent Reserve Review

Independent Reserve Review

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Since its formation in 2013, Independent Reserve has found its place—being one of the most trusted crypto exchange platforms in Australia and boasting more than 200,000 users.

Changes in the world market in 2009 saw the emergence of this digital currency trading platform—recasting crypto technology to a robust, regulated, and reliable financial service that people can trust.

Independent Reserve Review

Even though Independent Reserve is more prevalent among Aussies, the Kiwis (New Zealand residents) also appreciate this crypto exchange. The Australian Digital Commerce Association (ADCA) regulates and partly manages it.

Independent Reserve undergoes authorised audits, so users can trade safely. In addition, the ADCA, in collaboration with the Australian Transaction Reports And Analysis Centre (ATRAAC), have come up with a proper structure for introducing crypto laws in Australia.

Why Should I Choose Independent Reserve?

Independent Reserve Review

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Even though Independent Reserve is primarily popular in Australia and New Zealand, this crypto exchange is still appreciated and used globally. It (Independent Reserve) also supports many fiat currencies, including the US dollar and features low fee charges.

Independent Reserve gives all crypto investors an excellent opportunity to utilise many cryptocurrencies such as Bitcoin, Litecoin, Bitcoin Cash, and Ethereum.

Crypto investors can trade using the Australian (AUD), New Zealand (NZD), and US dollars (USD). Independent Reserves also ensures it effectively converts orders into crypto traders’ currency choices as they have a well-functioning currency book.

Independent Reserve Review

The Independent Reserve has made it possible to check the market order supporting various fiat currencies. Similarly, it helps implement multiple orders such as Limit Buy, Market Buy, Limit Sell, Market Sell, Stop Limit Buy, and Stop Limit Sell.

Independent Reserve is reliable, trusted and transparent;
This crypto exchange stores traders’ assets safely using cold storage wallets;
It features an in-built tax calculator for appropriate and straightforward filing of tax returns;
Users can set up crypto traders Self Managed Super Funds and invest in cryptocurrencies for the perfect retirement;
It supports various fiat currencies such as USD, NZD, and AUD.

Includes high deposit fees for a wire transfer;
Coins offered by Independent Reserve are limited
Has hidden trading fees and relatively low liquidity;

Independent Reserve Full Review

Independent Reserve Review

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Trading Fees

Independent Reserve uses a flat fee model, unlike other great crypto exchanges.

It charges a flat 0.5 percent trading fee for the takers and makers according to the regular 30 days trading volume, but this fee reduces significantly to 0.002 percent as the trading volume increases.

There’s no doubt that the fee is meant to attract Self Managed Super Fund and high net traders who have no problem injecting vast sums of money in exchange for relatively low trading fees.

Moreover, the exchange gives fair discounts for highly valued traders to invest more. In a nutshell, the 0.02 percent trading fees are for the elite and not beginners.

Withdrawal Fees
The Independent Reserve doesn’t charge any fees for users withdrawing in AUD. However, you’ll have to pay a cost of $20 for every withdrawal you make when making critical international withdrawals.

SDG withdrawals are even worse as they are priced at 0.55 percent. However, you’ll need to keep in mind that fees will vary significantly depending on the cryptocurrency you’re trading.

Independent Reserve Review

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For example, Bitcoin withdrawals have always been at 0.0003 BTC, which is fair compared to other exchanges. However, crypto withdrawals have a network fee identified and placed by blockchain load.

Deposit Fees
No fees (such as network fees or SWIFT payment fees) are charged when depositing money into Independent Reserve, though processing fees will apply.

Accepted Payment Methods
Independent Reserve is famous among Australian and New Zealand residents as it provides multiple deposit methods.

You can wire transfer and start trading without holding any digital currencies in the retail investor accounts. Similarly, it benefits non-Aussies by injecting funds through SWIFT bank transfers.

In a nutshell;

Credit cards cannot be used as a payment method on Independent Reserve;
Electronic fund transfer or ETF can only be applied in Australia;
SWIFT transfer deposits are open to US investors who want to deposit in USD or the Kiwis who wish to deposit funds in NZD;
You can use OSKO/ PaylD to deposit a maximum of $20,000 daily;
Fees will be applied depending on the amount you’re depositing and the payment method you’re using.

Supported Currencies

Independent Reserve Review

Basic Attention Token

Bitcoin Cash
Ethereum Classic
Stellar Lumens
OMG Network
Independent Reserve uses Cobalt—a third-party provider that tests and checks the website’s insufficiencies and vulnerabilities.

Independent Reserve Review

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Its safety is highly guaranteed as its database is efficiently encrypted and needs to be signed multiple times on four different data centres.

Moreover, it has crypto assets stored in cold storage, guaranteeing safety.

That said, Independent Reserve security and protection features include;

A 2-factor authorisation – Independent Reserve incorporates a 2-factor approval on 3rd-party devices and mobile phones;
Duress password – This is among the unique security features of the exchange, which utilises the duress password if, by bad luck, someone physically forces you to sign in to your account. The Duress password will lock your account for 24 hours.
Validation – It requires primary and secondary mobile numbers for better security.
Manual withdrawal verification – Independent Reserves enables users to verify their withdrawals manually. However, you’ll be contacted by the support team if there’s any malicious or unauthorised withdrawal.

Privacy and Security
Independent Reserve will require account holders to verify their identity before further registration steps. In some cases, you’ll be required to produce some additional information.

The provided information will be substantiated using your country alongside the AML and CTF databases. New crypto users can start trading after a successful confirmation process.

Independent Reserves take the security of their users seriously—with two data centres in Australia. The purpose is to ensure there are no cases of data loss—with data mostly getting replicated simultaneously in various locations in real-time.

The configured platform will take charge of the primary platform if there’s a need to. Moreover, Independent Reserve’s data is encrypted regularly and signed using dispersed keys.

However, Bitcoins bulk is secured in cold storage with additional 2-factor authorisation for extra security.

Customer Support
Independent Reserve always offers quality customer support, responding to all clients’ queries. Sadly, Independent Reserve’s customer support service is only available to users when logged in.

All the same, you can still shoot an email to the customer support team if you need further assistance on something. Users who prefer social media can reach the customer support team through Linkedln, Twitter, and Facebook.

Mobile Support

Independent Reserve Review

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Independent Reserve includes mobile trading apps for Android devices and iOS.

Users can track price movements and portfolios, store, sell and buy cryptocurrencies on their unique apps.

All you have to do is create an account (which is free), deposit some funds, and then start trading on the platform.

Tax Estimator and Independent Reserve OTC

Independent Reserve Review

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The crypto tax estimator introduced by KPMG is one of the digital tools that connects instantly to the Independents Reserve user interface, allowing users to effectively gauge tax responsibility on their portfolio with just one click.

The tax estimator is generally an API (Application Programming Interface) that helps Independent Reserve give its valued users real-time tax exposure for their benefit. It is channelled towards the sell and buy activities performed on the exchange.

The tool effectively covers various cryptocurrencies used on Independent Reserve, Such as Ethereum, Litecoin XRP, Bitcoin Cash, and Bitcoin.

However, the OTC is an exclusive premium service available mainly for institutional and high net worth clients that need critical assistance and execution when dealing with large volume trades.

Trading View

Independent Reserve Review

Even though different exchanges incorporate different trading views, you should check, evaluate and use the best trading view that suits your trading plan.

However, there’s a common feature among these views that display the order book or some part of it, order history, and sometimes specific price charts that match the cryptocurrency chosen.

Note: Before settling on an exchange platform, check and assess the trading view so that you’re sure it matches what you’re looking for.

User Interface.

Independent Reserve has implemented a clear-cut user interface to sell and buy currencies. Those who have embraced the technical analysis market page are TradeView control, which ensures high fidelity analysis and charting.

The Independent Reserve default interface includes market depth, visual charts, and recent trades to help beginners or experienced users. However, the Reserve charts are clunky to modify, and it’s impossible to incorporate technical indicators or draw trend lines.

This makes it quite challenging to modify the zoom and slider to analyse the candlestick patterns using a real-time frame critically. You might have to try other cryptocurrency charting sites if you’ve pegged your hopes on technical analysis.

Generally, most people have expressed disappointment in the Independent Reserve’s charting interface. However, we can’t rule out that the interface will significantly benefit from an overhaul to modernise and better the trading experience.

Affiliate Program
Independent Reserve has a referral and an affiliate program that enables users to pocket 50 percent of the entire brokerage money financed by mostly referred customers within 90 days.

Users can issue their referral code to friends invitations or include them in blog articles, ad placements, content, and videos.

Account Creation
According to the anti-money laundering best practices and Australian regulations, the Independent Reserve requires that you complete identity verification before you can deposit funds and start trading.

Account Verification
For better verification of your Independent Reserve account, the following details will be critical:

A distinctive username;
A unique password for account access. Preferably, the password shouldn’t resemble your other platform’s password;
Identify the basis of your created account and how you’ll generate funds;
Your date of birth and must resemble the birth document;
The country you reside in;
Your phone number where they’ll send a one time code via SMS for verification;
Your email address, which you’ll use to verify;
A government identification document, such as a driving license or passport;
Selfie holding the same Government identification document with your official names;
Bank statement or utility bill for address verification.

Independent Reserve Alternatives
Even though Independent Reserve is a highly ranked crypto exchange in New Zealand and Australia, its high net features still don’t cater to the needs of first-time crypto traders.

That means that beginner crypto investors have alternatives they can compare and explore, depending on their crypto trading needs:


It is a high-ranking Australian exchange known for its exclusive top-notch features and over 280 digital currencies. Furthermore, it has a modern trading experience, best for beginner crypto investors;

Digital Surge.

Digital surge is a modern, innovative, and classically designed exchange that best suits beginners. The platform performs and supports over 270 digital currencies. Its unique features are a wide range of coins, quick AUD deposits and withdrawals, straightforward and fast account verification.


CoinSpot is one of the safest and most secure trading exchanges, with around two million active users. It’s the best replacement for Independent Reserve as it has the quick sell and buys feature, security, deposits method, and a variety of coins.


Cointree is also a tremendous Australian trading exchange that helps sell and buy crypto.

Easy Crypto.

Easy Crypto is a secure and safe broker that releases bought assets straight to a selected wallet address. It’s among the safest places for selling and buying crypto.

Frequently Asked Questions
Below are questions that you might find valuable concerning Independent Reserve.

Is Independent Reserve Regulated?
No. The required authority has not yet regulated the Australian exchange Independent reserve.

However, the company got a principal go-ahead signal from the Monetary Authority of Singapore to be incorporated and crowned as a digital payment token service provider.

How Does Independent Reserve Work?
The Independent Reserve supports fiat currencies such as NZD, USD, SGD, and AUD. It also features a multi-currency order book that effectively translates open orders into your preferred currency.

Who Owns Independent Reserve?
Adrian Przelozny and Adam Tepper formed independent Reserve in 2013 to develop Australia’s most competitive and secure route of securing Bitcoin and other cryptocurrencies.

Is Independent Reserve Registered With The FSPR?
No. Independent Reserve does not act as a Financial Service Provider Registry in New Zealand.

Do I Need To Create A Bitcoin Wallet To Use Independent Reserve?
No. It’s not a requirement to start a crypto wallet to enjoy and trade on an Independent Reserve exchange. However, it’s essential because hackers target exchanges to steal and exploit cryptocurrency holdings.

Is Independent Reserve Available In New Zealand?
Yes. The Independent Reserve is used widely in New Zealand.

Is Independent Reserve A Scam?
No. Independent Reserve isn’t a scam because of its high-profile partnerships.

Bottom Line
Overall, Independent Reserve is an excellent trading exchange that exists for the benefit of its users.

It includes an excellent customer support service that you can reach through various channels.

The significant part is that it enables you to fund your account using fiat currencies.


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