Sydney exchange aimed at serious and self-managed-super buyers, and the first in Australia to publish regular proof-of-reserves attestations.
A 2011-vintage exchange with one of the cleanest security records in the business, heading toward a US stock listing.
Kraken rates higher on our rubric: 4.7 against 4.5 for Independent Reserve.
Every row is from the two reviews as of their review dates, with sources on each. A check marks the side a decidable criterion favours; rows without one are information, not a score.
| Fact | Independent Reserve | Kraken |
|---|---|---|
| Editorial rating | 4.5 | 4.7 (favoured on this row) |
| Published fees | From 0.5%, free bank funding | From 0.25% maker, 0.40% taker |
| Maker fee | 0.50 percent, falling to 0.02 percent across nine volume tiers | 0.25% on Kraken Pro below $10,000 in 30-day volume, decreasing at higher tiers |
| Taker fee | 0.50 percent, falling to 0.02 percent across nine volume tiers | 0.40% on Kraken Pro below $10,000 in 30-day volume, decreasing at higher tiers |
| Identity verification | Required | Required |
| Bitcoin-only | No | No |
| Payment rails supported | 3 | 14 |
| Countries ranked in | 1 | 127 |
| Ranks first in | 0 | 10 |
| Countries shared | 1 | 1 |
| Security record | No record on file | 10 dated events, 2 incidents, latest 2026-06-30 |
| Founded | 2013 | 2011 |
| Headquarters | Sydney, New South Wales, Australia | San Francisco, United States |
| Last reviewed | 2026-08-23 | 2026-08-23 |
Each country guide ranks its own roster on published fees, security record and local payment support, so the two can sit in a different order from one country to the next.
| Country | Status | Independent Reserve ranks | Kraken ranks | Comparison |
|---|---|---|---|---|
| Australia | Legal | #5 | #3 | Best exchanges there |
Dated events from each review, newest first: breaches, enforcement actions, licences, audits and proof-of-reserves publications. 1 of the 2 carry no dated record on our reviews yet.
Latest proof of reserves shows bitcoin backed at 102.9%
Kraken refuses extortion after two support staff misused internal systems
Kraken wins a MiCA licence from the Central Bank of Ireland
Kraken rates higher on our rubric: 4.7 against 4.5 for Independent Reserve. The rating weighs published fees, security record and local payment support; the table above sets each beside the other so you can check the score against the facts.
Independent Reserve: From 0.5%, free bank funding. Kraken: From 0.25% maker, 0.40% taker. Those are each platform's published headline rates; card purchases and instant-buy widgets cost more than the order book on both, and each review carries the full schedule.
Both are ranked in our guides for Australia. Independent Reserve is ranked in 1 countries in all and Kraken in 127; each country guide ranks its own roster, so the two can sit in a different order from one country to the next.
Independent Reserve carries no dated security record on our review yet, a gap in our records rather than a clean bill. Kraken carries 2 incidents among 10 dated events, the latest on 2026-04-14: Kraken refuses extortion after two support staff misused internal systems. Both reviews list every event with its source.
Independent Reserve: required. Kraken: required; identity verification is required to deposit fiat and trade..
The full reviews: Independent Reserve and Kraken, each with its sources, and every exchange we review.
Every other head-to-head Independent Reserve or Kraken appears in.
Australia