Independent Reserve

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Independent Reserve is a Sydney-based cryptocurrency exchange. This is more of an entry-level service, as the company accepts fiat currencies. In essence, this is an established player in the Australia and New Zealand region.

Independent Reserve Advantages

Regulated by AUSTRAC

Independent Reserve is the first exchange to be regulated by the Australian Transaction Reports and Analysis Centre (AUSTRAC). The main purpose of this centre is to ensure that Australian institutions comply with the Counter-Terrorism Financing and Know Your Customer rules applicable in the country.

ADCA Membership – this strands for the Australian Digital Commerce Association. ADCA is a non-government, non-profit organization, uniting some of the major players in the cryptocurrency space and Independent Reserve is one of them.

Fiat currencies accepted – bank transfers and Poli Payments are accepted at Independent Reserve. This allows the uninitiated to enter the world of cryptocurrencies.

Few altcoins available – the cryptocurrencies available at Independent Reserve are Bitcoin, Ethereum and Bitcoin Cash. They are traded against the AUD, NZD and USD.

Has not been hacked yet – this exchange was not the target of a major attack and additionally claims to offer top-tier security. This is not a guarantee for anything, but is still nice to know.

Positive user reviews – the user reviews of Independent Reserve are mostly positive. The few complaints are about not that significant issues, like the company requiring address verification. This goes in line with the overall feeling of stability which one gets from the exchange.
 
Independent Reserve Disadvantages

Region specific  – the main flaw of Independent Reserve is the fact they are a bit specific to the ANZ region. Of course, this isn’t that much of a flaw, but a deliberate decision made by the company.

High trading fees – the costs of trading at this exchange start from 0.50%. While they go lower with bigger trading volumes, most traders are not likely to exchange over 15 Bitcoin in a month. The majority of exchanges charge something in the 0.25% range.

Low liquidity – this is bound too happen with a trading venue, which is focused on a comparatively small market. That being said, this is still feels like a good gateway company.

No margin trading  – most of you would have probably guessed it by this point, but Independent Reserve does not support leverage. This is not a major disadvantage, especially given the serious price swings in the cryptocurrency space. That being said some of you may still want to trade more aggressively.

Relatively poor charting – The trading platform offered by Independent Reserve looks good, with charting being the one major exception. The “tape” (transaction history) and order book are placed very conveniently next to one another. Despite providing candlesticks, the this platform does not support technical indicators of any kind. That being said, there have much worse solutions.

Conclusion

Independent Reserve is an established player in the Australian cryptocurrency space.. When entering the company’s website one immediately gets the feeling of professionalism, whereas other exchanges (even those who offer good trading conditions) simply look sketchy from the beginning.

Independent Reserve is a simple entry-level exchange, with a focus  ANZ clients. While the trading fees are higher than the ones charged by the well-known global industry leaders, this exchange looks much more reliable for locals.

Being a member of the Australian Digital Commerce Association (ADCA) also gives this exchange credibility. That being said, all things connected with the sphere of cryptocurrencies come with at least some level of risk.