Independent Reserve review

4.5Last reviewed 2026-08-23

Independent Reserve is the Australian exchange for people who care more about custody assurances and paperwork than about shaving basis points. It was the first local platform to publish regular proof-of-reserves attestations, which is the single most useful thing an exchange can do for a customer who wants to verify rather than trust.

Founded in Sydney in 2013 and registered with AUSTRAC, it holds ISO 27001 certification and is built around a real order book rather than a one-click buy widget. It has an OTC desk for large orders and is one of the few Australian platforms that properly supports self-managed super funds, which is why accountants tend to recommend it.

Fees start at 0.50 percent maker and taker and step down through nine volume tiers, bottoming out at 0.02 percent for traders moving more than 10 million Australian dollars a month. For an ordinary buyer the number to plan around is 0.50 percent, which sits between Swyftx and CoinSpot's market screen.

Funding is free on the local rails. PayID, Osko and standard bank transfers cost nothing, and AUD withdrawals to an Australian bank account are free, with a small charge only if you want an instant Osko payout. Australian-issued cards cost 1 percent and international cards 3.5 percent, so use the bank rails.

Visit Independent ReserveOpens www.independentreserve.com

Founded: 2013
Headquarters: Sydney, New South Wales, Australia
Fees: 0.50 percent maker and taker to start, stepping down to 0.02 percent on volume. PayID, Osko and bank deposits are free; Australian cards cost 1 percent.
KYC: Required
Payment methods: Local bank transfer, PayID / Osko, Credit or debit card
Status: Operating

How you can pay on Independent Reserve

Every deposit rail Independent Reserve supports in at least one market. Which of them you can use depends on your country; the country guides below list the exact methods per market.

Domestic bank rail: Local bank transfer PayID / Osko
Card: Credit or debit card

As published by Independent Reserve: PayID, Direct bank deposit, Credit or debit card.

Pros and cons

What works

The first Australian exchange to publish regular proof-of-reserves attestations, so holdings can be checked rather than assumed
AUSTRAC-registered and ISO 27001 certified, with a real order book instead of a markup-laden buy widget
Free PayID, Osko and bank transfer funding, and free AUD withdrawals
Proper support for self-managed super funds and an OTC desk for large orders

What to watch

The 0.50 percent starting fee is well above CoinSpot's 0.1 percent market-order rate
The nine-tier discount schedule only rewards volumes most personal buyers will never reach
The order-book interface is less forgiving than the one-click apps if you have never traded before

Fees in detail

maker: 0.50 percent, falling to 0.02 percent across nine volume tiers
taker: 0.50 percent, falling to 0.02 percent across nine volume tiers
deposit note: PayID, Osko and standard bank transfers in AUD are free. Australian-issued cards cost 1 percent and international cards 3.5 percent.
withdrawal note: AUD withdrawals to an Australian bank account are free; instant Osko payouts carry a small flat fee.

Where we recommend Independent Reserve

Countries where Independent Reserve ranks in our local guide. Availability beyond these is possible but unverified by us.

Australia

Frequently asked questions

What does Independent Reserve charge?

0.50 percent maker and taker at the entry tier, dropping through nine volume bands to 0.02 percent for traders above 10 million Australian dollars a month. Most personal buyers pay 0.50 percent.

What is proof of reserves, and why does it matter here?

It is an attestation that the exchange holds the customer assets it says it holds. Independent Reserve was the first Australian platform to publish these regularly, which lets you verify custody instead of taking the company's word for it.

Can I use Independent Reserve for a self-managed super fund?

Yes. It is one of the few Australian exchanges that properly supports SMSF accounts, which is why accountants often point clients there. Get your own tax advice on structure before opening one.

How should I fund the account?

Use PayID, Osko or a standard bank transfer. All three are free. Cards cost 1 percent on Australian issuers and 3.5 percent on international ones, so they are the expensive route.