Summary: Independent Reserve is a cryptocurrency exchange based in Sydney, Australia, founded in 2013. The platform offers a wide range of cryptocurrencies and services both individual and institutional investors, providing features like an OTC trading desk, tax tools, and API support for automated trading. With a strong focus on regulatory compliance, it is one of the few exchanges that are audited by PwC and adhere to strict AML/KYC policies.
- Most trusted exchange for high-net worth and institutional crypto investors in Australia.
- Trade 40+ Cryptocurrencies and Stablecoins with low fees and tight spreads.
- Most popular institutional platform and Crypto OTC Desk with white-glove service.
What is Independent Reserve?
Independent Reserve was founded in 2013 by Adrian Przelozny, who serves as the CEO. Since its inception, the exchange has grown significantly has garnered a large user base of over 200,000 customers, and is the most highly traded order book in Australia by a wide margin. The platform was among the early adopters of regulatory compliance in the cryptocurrency space, setting it apart as a trusted entity.
It has also been proactive in partnering with financial institutions and regulatory bodies to further legitimise cryptocurrency trading. Independent Reserve's commitment to security and compliance has made it a preferred choice for both individual and institutional investors, contributing to its sustained growth over the years. They are also a member of Blockchain Australia, which is one of the leading industry bodies in the country.
Independent Reserve Features
Independent Reserve brings many specialised features to the table, such as an AutoTrader that lets you automate your trading strategies and a tax tool designed for Australian crypto traders. Here's a comprehensive look at Independent Reserve's standout features:
- Trade a Variety of Assets: Independent Reserve supports trading in over 30 cryptocurrencies, including major ones like Bitcoin, Ethereum, and Litecoin, as well as other digital assets like Ripple and Chainlink.
- AutoTrader Functionality: The platform allows you to automate your trading strategies, offering a way to maximise your gains without constantly monitoring the market.
- Tax Tool: As an Australian-based exchange, Independent Reserve offers a tax tool specifically designed to help local traders comply with Australian tax laws, making it easier to file your returns.
- SMSF-Friendly: Australian investors can use their Self-Managed Super Funds (SMSFs) to invest in a wide array of cryptocurrencies, and the platform provides dedicated account managers for assistance.
- OTC Services: For institutional and large-scale investors, Independent Reserve offers an Over-The-Counter (OTC) trading desk. This feature provides benefits like access to expert trading brokers, reduced price slippage through fixed pricing, and quick asset accessibility post-trade. Dedicated account managers are also available for OTC users.
- Insurance Coverage: Independent Reserve is one of the few exchanges that offers insurance coverage for digital assets stored on the platform, adding an extra layer of security for its users.
- AutoBuy Feature: For those uncertain about which cryptocurrencies to invest in, Independent Reserve offers an 'AutoBuy' feature that allows you to set up recurring buys of your preferred cryptocurrencies.
- Mobile Accessibility: While the platform is fully functional on desktop, it also offers a mobile-friendly website for trading on the go.
- 24/7 Customer Support: You can reach Independent Reserve's customer support team anytime through various channels, including live chat, email, and social media platforms like Twitter and LinkedIn.
Is Independent Reserve Regulated?
Independent Reserve was built from a security-first standpoint by world class engineers. Their platform's core servers are in geographically dispersed data centers across New South Wales, which is the best possible practice for data integrity. Independent Reserve is a licensed digital currency exchange by AUSTRAC and is a privately owned company in Australia with a business ABN 46 164 257 069.
In addition, Independent Reserve was the first exchange in the world to be licensed in Singapore by the Monetary Authority of Singapore (MAS). They are the only Australian crypto trading platform to operate as a regulated provider of Digital Payment Token (DPT) services in Singapore, highlighting that they are highly compliant.
Their trading platform has the most competitive fee schedule for investors and traders in Australia. Their starting fee for a buy or sell is 0.50%, which reduces when you trade more volume over a 30-day period. Other costs to consider when using Independent Reserve is deposit and withdrawal fees. Fortunately, Independent Reserve offers instant free AUD deposits and withdrawals for PayID or Osko transfers. You can review their full fee schedule here.
Independent Reserve offers a curated selection of some of the world's most traded and liquid cryptocurrencies. The platform supports over 30 popular digital assets such as Bitcoin, Ethereum, and Ripple, as well as emerging favorites like USD Coin, Dogecoin, Tether, Solana, and Cardano. This diverse range of cryptocurrencies provides all traders with various investment opportunities, all under the umbrella of a secure and trusted exchange.
The Independent Reserve mobile application is a comprehensive platform for cryptocurrency trading. The app allows users to securely buy and sell various cryptocurrencies. It offers multiple deposit and withdrawal options, such as credit/debit cards, PayPal, and bank transfers, making it convenient for users to manage their assets. One of its standout features is the AutoBuy and AutoSell ordering, which simplifies dollar-cost averaging.
The app also places a strong emphasis on security, employing two-factor authentication and encrypted data centers to protect users' data and assets. Furthermore, it provides real-time portfolio tracking and supports trading against multiple fiat currencies like AUD, USD, NZD, and SGD. It is available on both iOS and Android devices and can be downloaded on the Apple App Store and the Google Play Store.
Self Managed Super Fund (SMSF)
One of our favourite aspects of the Independent Reserve platform is their Self Managed Super Fund (SMSF) accounts. They let you buy and sell cryptocurrencies with your SMSF account with low fees and securely. The exchange is currently being used by over 8,000 SMSFs in Australia, and they provide detailed reporting for your SMSF audits.
It can take less than 24 hours to onboard your SMSF account once you provide the following information:
- SMSF Name
- SMSF Trust Deed
- SMSF ABN
- Trustee Information
- Personal Identification
Independent Reserve OTC Desk
The exchange boasts Australia's leading OTC desk for high net worth, institutional investors, and SMSFs to buy Bitcoin and other cryptocurrencies in Australia. This service is generally the best way to get exposure to digital assets if you are looking to purchase over $100,000 AUD worth of any given cryptocurrency in one hit.
The key advantages of OTC crypto trading on Independent Reserve are:
- Reduced Slippage: You can lock in a large order at one price, which reduces the risk of getting hit with what is known as 'slippage'.
- Privacy: OTC orders are not visible or reported to the market, this means you will not signal the market and make the price move away from you.
- Deep Liquidity: Easily fill large orders at a great price by tapping into Independent Reserve's global liquidity network.
- White-glove service: Independent Reserve take care of everything for their OTC clients. Simply deposit your AUD, NZD, USD, or SGD - request what you would like to buy or sell, and they will handle the rest.
What Countries Does Independent Reserve Support?
Independent Reserve is currently available in Australia, New Zealand, and Singapore, with plans to expand into additional countries. They offer native AUD, NZD, SGD, and USD banking support, which means you can deposit multiple fiat currencies to start trading on the platform.
It was the first ever exchange to receive its crypto license from the Monetary Authority of Singapore (MAS) and currently holds licenses by AUSTRAC in Australia and regulators in NZ.
To wrap up, Independent Reserve is Australia's most trusted exchange for institutional investors in Australia. Although the user interface can be slightly more tricky than other retail exchanges like CoinSpot or SwyftX, they provide a far superior user experience. This is highlighted by their low fees, fast deposits/withdrawals, and deep liquidity.