Swyftx review

4.4Last reviewed 2026-08-23

Swyftx is the Australian exchange to pick if you want local support and free bank funding more than you want the lowest fee on the market. It is the largest local platform after CoinSpot, with more than 1.5 million users across Australia and New Zealand.

Founded in Brisbane in 2018 and registered with AUSTRAC, Swyftx sells itself on the parts of buying bitcoin that beginners actually struggle with. AUD deposits by bank transfer or PayID are free, AUD withdrawals back to an Australian bank account are free and unlimited once you are verified, and the platform runs a demo mode that lets you place practice orders with fake money before committing real AUD.

Pricing starts at 0.6 percent per trade for regular accounts and steps down through volume tiers to 0.1 percent at the top. For a buyer putting away a few hundred dollars a month, 0.6 percent is the number that matters, and it is six times what CoinSpot charges on its market screen. Card deposits through Stripe add 1.875 percent on top.

The trade-off is straightforward: Swyftx is easier and better supported than its cheaper rivals, and you pay for that in basis points. If you fund by PayID and buy regularly, the funding side costs nothing and the trading fee is the whole cost.

Visit SwyftxOpens swyftx.com

Founded: 2018
Headquarters: Brisbane, Queensland, Australia
Fees: Trading starts at 0.6 percent and falls to 0.1 percent on volume. AUD bank and PayID deposits are free, as are AUD withdrawals; Stripe card deposits add 1.875 percent.
KYC: Required
Payment methods: Local bank transfer, PayID / Osko, Credit or debit card
Status: Operating

How you can pay on Swyftx

Every deposit rail Swyftx 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 Swyftx: PayID, Direct bank deposit, Credit or debit card.

Pros and cons

What works

AUD deposits and withdrawals by bank transfer or PayID are free in both directions
A demo mode lets you practise placing orders before you risk real money
Australian-based support, which is the differentiator most local buyers actually notice
AUSTRAC-registered with more than 1.5 million users across Australia and New Zealand

What to watch

The 0.6 percent starting fee is six times what CoinSpot charges on its market-order screen
The lower tiers need serious 30-day volume, so most buyers never leave the top rate
Card deposits add 1.875 percent through Stripe, which makes them the expensive way in

Fees in detail

maker: 0.6 percent for regular accounts, falling to 0.1 percent at the top volume tier
taker: 0.6 percent for regular accounts, falling to 0.1 percent at the top volume tier
deposit note: Bank transfer and PayID deposits in AUD are free. Card deposits through Stripe cost 1.875 percent.
withdrawal note: AUD withdrawals to an Australian bank account are free and unlimited once verified.

Where we recommend Swyftx

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

Australia

Frequently asked questions

What does Swyftx charge to buy bitcoin?

Regular accounts pay 0.6 percent per trade. Volume tiers step that down to 0.1 percent, but the thresholds are high enough that most personal buyers stay at 0.6 percent.

Are Swyftx deposits and withdrawals free?

In AUD, yes, on the bank rails. Bank transfer and PayID deposits cost nothing, and verified AUD withdrawals to an Australian bank account are free and unlimited. Card deposits are the exception at 1.875 percent.

Is Swyftx cheaper than CoinSpot?

Not on trading. CoinSpot's market-order screen charges 0.1 percent against Swyftx's 0.6 percent. Swyftx is competitive against CoinSpot's 1 percent instant buy, which is what many CoinSpot users actually use.

Is Swyftx registered in Australia?

Yes. Swyftx is registered with AUSTRAC, the national regulator for exchanges. That covers anti-money-laundering obligations rather than guaranteeing your balance, so withdraw long-term holdings to your own wallet.