Summary: Independent Reserve and Binance are cryptocurrency platforms designed to serve different global markets. Independent Reserve focuses on the Australian, New Zealand, and Singaporean markets, directly supporting AUD, NZD & SDG deposits. Binance is built for a worldwide user base, boasting low fees, support for numerous fiat currencies and languages, and a wide selection of cryptocurrencies with various trading types with high leverage.

Binance vs Independent Reserve - Winner
Registered as a Digital Currency Exchange (DCE) with AUSTRAC.
Table of Contents

Independent Reserve vs Binance Overview

Independent Reserve has built a strong reputation in Australia, Singapore, and New Zealand since its establishment in 2013, attracting a dedicated following. It is Australia’s oldest digital asset exchange and is considered the most secure trading platform in Australiasia. Some of its key features include leverage trading up to 2x, DCA-investing, an OTC desk, and a mobile app. 

Binance was launched in 2017 and has become a dominant player on the global stage, with over 150 million registered users. The platform is acclaimed for its extensive ecosystem encompassing its own blockchain, BNB token, crypto wallet, NFT marketplace, and Binance Academy. Additionally, it provides various services such as staking, borrowing and lending, plus a broad spectrum of trading options like spot, and derivatives with leverage.

Binanace Exchange.
Binanace Exchange.

Products and Services

Independent Reserve supports 50 cryptocurrencies with leverage up to 2x and offers trading features that resonate with the Australian and New Zealand markets, such as its Airbridge API for high-speed trading. Their standout feature is the “DCA-investing” designed to make dollar cost investing hassle-free for traders. The platform also offers an SMSF service for retirement investing in crypto.

Binance, on the other hand, has a staggering list of more than 350 cryptocurrencies and provides many trading options. This includes spot trading, futures, options, and specialty features like the Launchpad for token launches and Binance Earn for yield farming. Beyond trading, Binance also hosts an NFT marketplace, loans, a rewards hub, a demo account and even a crypto card.

Winner: Binance takes the lead with its broad selection of services, including advanced trading mechanisms, a wide variety of cryptocurrencies, and added utilities like staking and an NFT marketplace.

Supported Countries

Independent Reserve primarily targets the Australian, New Zealand and Singaporean markets, offering services exclusively to residents in these regions. The platform is fine-tuned to meet the regulatory standards of these three countries, ensuring full compliance with local laws.

Binance boasts a global footprint, making its services accessible in more than 180 countries. This international scope is a key strength, and the platform adheres to local laws and regulations, not just in Australia but in numerous countries around the world. It is also overseen by multiple government bodies.

Winner: Given its international reach that extends to more than 180 countries, Binance clearly has the upper hand over Independent Reserve in terms of geographical scope.

Binance: Country Selector.
Binance: Country Selector.

Payment Methods in AUD

Independent Reserve caters to its core market in Australia by offering various AUD payment options. These include credit and debit card transactions and the common local method, Electronic Funds Transfer (EFT). They even offer the Osko and PayID payment systems for instant bank transfers.

Binance, although globally flexible in handling multiple currencies, has limited options for AUD payment methods. The platform primarily supports payments through debit and credit cards, along with traditional bank transfers. However, it doesn't feature popular Australian local options like Osko, which many Australians find convenient.

Winner: Independent Reserve delivers a more tailored AUD payment experience, focusing on local options such as PayID and Osko, which cater specifically to the Australian market.


Independent Reserve employs a tiered fee structure, where the trading fees can range from 0.5% down to 0.05% depending on the trader's 30-day trading volume. This approach encourages frequent trading and benefits those who trade in higher volumes. While deposits in fiat currencies like AUD are generally free, a nominal fee applies to cryptocurrency withdrawals.

Binance has a fee structure starting at a base rate of 0.1% for spot trades. Users can lower this fee by holding the platform's native BNB tokens or achieving a high monthly trading volume. The futures trading costs are 0.02% for the maker and 0.06% for taker orders. Cryptocurrency deposits are free, but withdrawal fees can differ significantly based on the asset and withdrawal amount.

Winner: Binance provides a flexible fee system that rewards frequent traders and those holding BNB tokens, making it advantageous for a broad spectrum of users. 

Binance: Fee Schedule.
Binance: Fee Schedule.

Security and Regulation

Independent Reserve takes security seriously, aligning with Australia's rigorous regulatory guidelines. It is registered with AUSTRAC and ASIC, and it’s a member of Blockchain Australia, bolstering its credibility. The platform offers a range of security features like two-factor authentication (2FA), advanced cold storage for digital assets, and regular external security audits to maintain system integrity.

Binance, a global leader in cryptocurrency exchanges, has its own insurance fund to safeguard users' assets in case of system vulnerabilities or hacks. While it incorporates top of the line security measures such as 2FA, U2F, and anti-phishing safeguards, it's important to highlight that Binance is not registered with Australian regulatory agencies. Its compliance standards differ depending on the jurisdiction, making it less tailored to Australian regulations.

Winner: Independent Reserve offers a secure trading environment that adheres closely to Australian regulations, thereby providing a higher level of trust for residents of Australia. 

Final Thoughts

In conclusion, while both options offer robust trading platforms, Binance stands out for its comprehensive range of services and global accessibility. Its ecosystem extends far beyond basic trading, offering a multitude of cryptocurrencies, advanced trading options, staking, and even an NFT marketplace. For those looking for a comprehensive crypto investing experience with the freedom to access services from around the world, Binance is the recommended choice.