Comparison of Independent Reserve vs Pionex [ 2024 ]

The crypto exchanges compared by their commissions, cryptos, security and much more. Here is the Independent Reserve vs Pionex comparison!

Your expert: Alejandro Borja

independent reserve

Independent Reserve

  • Threenvest valuation: 4/5
  • US legal: No
  • Security: High 4,6/5
  • Mobile App: No
Go exchange

Investing risks losing your money

Your expert: Xavier Tarrasó

pionex

Pionex

  • Threenvest valuation: 4/5
  • US legal: Yes
  • Security: High 4,6/5
  • Mobile App: Yes
Go exchange

Investing risks losing your money

Main points

Fees

≤0,50%

Earns

No

Customer service

4/5
0.05%

Fees

Yes

Earns

3/5

Customer service


Recommended for

Beginners

Yes

Trading

Yes

Passive income

No

Buy and hold

Yes
No

Beginners

Yes

Trading

Yes

Passive income

Yes

Buy and hold


Comparison of fees

Rating

3.9 – Reasonable fees with strong local support in Australia and New Zealand.
4.0 – Competitive fees with additional benefits for automated trading.

Level

≤0,50%
0.05%

Brief explanation

Independent Reserve operates with a tiered fee structure that incentivizes higher trading volumes with progressively lower fees. The standard trading fee starts at 0.50% and can decrease to as low as 0.02% depending on the user’s 30-day trading volume. For deposits, there are no fees for electronic fund transfers (EFT) over AUD 100, and SWIFT transfers are free for amounts over AUD 5,000. Withdrawals to Australian bank accounts are free, while international withdrawals incur a fee of AUD 20. Cryptocurrency withdrawal fees are competitive, with a fee of 0.0003 BTC for Bitcoin, which is significantly lower than the global industry average​​.
Pionex’s trading fee structure is notably competitive, designed to cater to both frequent and casual traders. The platform charges a flat trading fee of 0.05% per transaction, which applies to both makers and takers. This fee rate is among the lowest in the cryptocurrency exchange industry, making Pionex an attractive option for traders looking to minimize costs while maximizing returns. Additionally, the integration of trading bots at no extra cost enhances the value, as these bots can execute trades automatically based on predefined strategies, further optimizing trading expenses for users.

Independent Reserve

independent reserve
Read Independent Reserve review
  • Year Founded: Independent Reserve was established in 2013, making it one of the longest-running cryptocurrency exchanges in Australia. Its longevity in the market is a testament to its reliability and stability​​.
  • Reputation and Reviews: With over a decade of operation, Independent Reserve has built a strong reputation among users for its reliability and customer service. It has consistently received positive reviews and high ratings for its security, user experience, and customer support​​.
  • Regulation and Compliance: The exchange is registered with AUSTRAC (Australian Transaction Reports and Analysis Centre) and complies with stringent anti-money laundering (AML) and counter-terrorism financing (CTF) regulations. This regulatory adherence ensures a high level of trust and security for users​​.
  • Customer Service: Independent Reserve offers comprehensive customer support through various channels including email, support tickets, and a well-resourced help center. This ensures that users can get timely assistance for any issues they encounter​​.
  • Security Methods: Independent Reserve employs robust security measures including two-factor authentication (2FA), encryption of sensitive data, and cold storage for the majority of its cryptocurrency holdings. The exchange also conducts regular security audits and penetration testing to identify and mitigate potential vulnerabilities​​.
  • Pros
  • Strong adherence to regulatory standards.
  • High level of platform security.
  • User-friendly interface for beginners.
  • Cons
  • Limited selection of cryptocurrencies.
  • No margin trading available.

Read Independent Reserve review

Pionex

pionex
Read Independent Reserve review
  • Regulation: Pionex is registered with FinCEN as a Money Services Business (MSB), which means it complies with several regulatory standards aimed at preventing money laundering and financial fraud. This registration enhances user trust as the platform adheres to stringent financial regulations.
  • Security methods: Pionex prioritizes security with several layers of protection, including bank-level security systems and encrypted algorithms to safeguard user data and assets. The platform also employs two-factor authentication (2FA) for additional security during login and withdrawal processes.
  • Customer service: Pionex offers a comprehensive customer support system, including a detailed FAQ, a responsive email support team, and a community on various social media platforms where users can seek help and share their experiences.
  • Trading volume and liquidity: Thanks to its liquidity aggregation that combines liquidity from Binance and Huobi Global, Pionex provides high trading volume and liquidity, ensuring that trade orders are executed swiftly and at competitive prices.
  • Reputation and Reviews: Pionex has garnered positive reviews from users primarily due to its user-friendly interface and the unique offering of built-in trading bots. The community feedback on the effective functioning of these bots and the overall reliability of the platform is generally favorable, reinforcing its reputation in the crypto community.
  • Pros
  • Automated trading bots
  • Low trading fees
  • High liquidity aggregation
  • Cons
  • Complex interface for beginners
  • Limited regulatory information

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Product selection

Native token

No
No

Earns

No
Yes

NFT marketplace

No
Yes

Cripto/debit card

No
Yes

Company information

Full name

Independent Reserve Pty. Ltd.
Pionex Inc.

Regulation

Regulated in Australia
Not regulated

Year founded

2013
2019

Founder

Adam Tepper
Unknown

Payment methods

Transfers

Yes
No

Mastercard

No
Yes

Wire transfer

Yes
No

Card

No
Yes

Comparative table

Independent Reserve FEATURES Pionex
Minimum trade amounts at Independent Reserve are relatively low, making it accessible for new investors.
Minimum Trade
Pionex allows for low minimum trade amounts, making it accessible for beginners wanting to start small.
Fees are moderate compared to other exchanges, but some users might find them slightly higher for smaller trades.
Trading and Transaction Fees
Offers highly competitive fees, particularly attractive because of the zero-fee trading with bots, which is a standout feature.
Independent Reserve supports a decent range of popular cryptocurrencies, providing enough options for most investors.
Number of Cryptocurrencies
Supports a wide range of cryptocurrencies, providing users with a diverse selection of trading options.
The exchange offers a fair selection of crypto-to-crypto pairs, though not as extensive as some larger platforms.
Crypto-to-Crypto Trading Pairs
Extensive range of trading pairs, allowing users flexibility in their trading strategies.
The website is user-friendly and transparent about fees, regulations, and available services.
Website Transparency
While Pionex offers good information on its operations, more clarity on regulatory compliance and security measures could improve transparency.
Independent Reserve does not offer a card for in-store purchases.
Credit/Debit Card
PointPay does not currently offer a card for customers to use in their daily transactions or at shops.
Offers secure storage options, including insurance for stored assets, enhancing user confidence in the platform’s safety.
Storage Offering
Provides secure storage options, but enhanced details about its cold storage capabilities would be beneficial.
Independent Reserve does not have extensive staking or rewards programs compared to some other exchanges.
Staking and Rewards
Offers competitive staking rewards, particularly through its bot-driven strategies, though it could expand its rewards program.
Both mobile and desktop platforms are well-designed, ensuring a seamless trading experience across devices.
Mobile App and Desktop
Both platforms are highly user-friendly and well-designed, offering full functionality.
Customer service is responsive, though there is room for improvement in speed and availability during peak times.
Customer Service
Responsive customer service with multiple channels, but could improve by adding real-time support like live chat.
Deposits and withdrawals are processed efficiently, with multiple options available, although some methods might incur fees.
Deposit and Withdraw
Responsive customer service with multiple channels, but could improve by adding real-time support like live chat.

Key features

Analysis tools

Basic charting tools
Integrated bots for automated trading

Mobile APP

No
Yes

Security

High 4,6/5
High 4,6/5

Additional features

OTC trading, SMSF services, staking, insurance options
Automated trading bots, margin trading, staking, Pionex Earn

Anonymity

No
Yes

Key points

Available cryptocurrencies

20+
120+ (with trading bots)

User-friendliness

Independent Reserve offers a user-friendly platform that is easy to navigate, making it suitable for beginners. The interface is designed to facilitate a smooth trading experience with all necessary features easily accessible.
Pionex offers a user-friendly platform that is easy to navigate, making it suitable for beginners. The interface is designed to facilitate a smooth trading experience with all necessary features easily accessible.

Value for money

Delivers good value for money with competitive fees and strong security features, suitable for Australian and New Zealand users.
Provides good value for money with low trading fees and automated trading bots, making it an attractive option for new and experienced traders.

Countries of operation

Australia, New Zealand, Singapore
Singapore, United States, Canada, Australia, United Kingdom

Best for

Best for Australian and New Zealand investors looking for a reliable platform with competitive fees and strong security.
Ideal for traders interested in automated trading bots and low trading fees.

Base currencies available

AUD, NZD, USD, BTC
USDT, BTC

Account

Trading

Independent Reserve is a popular exchange in Australia and New Zealand, offering a user-friendly platform and easy fiat integration. It supports a decent range of cryptocurrencies but has higher fees.
Pionex is known for its automated trading bots, offering a unique feature for users. It has a good range of cryptocurrencies and competitive fees but can be complex for beginners.

Deposit and withdrawal

Independent Reserve is popular in Australia and New Zealand, offering easy fiat and cryptocurrency deposit methods. Withdrawals are processed efficiently, with competitive fees.
Pionex offers multiple deposit and withdrawal methods, including bank transfers and cryptocurrencies. Withdrawals are processed quickly, with competitive fees.

Account opening process

Independent Reserve provides an easy and user-friendly account opening process. Users need to provide personal information and verify their identity. The process is efficient and usually takes less than a day to complete.
Pionex provides a straightforward and user-friendly account opening process. Users need to provide personal information and verify their identity. The process is efficient and typically takes less than a day to complete.

KYC required?

Yes
Yes

Customer Service

Independent Reserve provides extensive customer support via email, live chat, and phone. The support team is responsive and available 24/7, making it reliable for users globally.
Pionex provides customer support via email and live chat. The support team is responsive and helpful, but the lack of 24/7 support may be a limitation for some users.

Security

Independent Reserve employs comprehensive security measures, including 2FA, encryption, and cold storage. It is regulated by Australian authorities, ensuring high security for investors.
Pionex employs comprehensive security measures, including 2FA and cold storage. However, it lacks regulation from major financial authorities, which might be a concern for some investors.

Which of these exchanges is for you?

alejandro-borja-analista-de-brokers.webp

Alejandro Borja

As an expert in cryptocurrency exchanges, I can confidently recommend Independent Reserve for several reasons. This platform excels in security and regulatory compliance, ensuring that your investments are protected. It supports multiple fiat currencies, making it accessible for users in Australia, New Zealand, and Singapore. While its selection of cryptocurrencies is somewhat limited, it offers a user-friendly interface and excellent customer support, making it ideal for beginners. For those prioritizing safety and reliability in their crypto trading experience, Independent Reserve is a solid choice.
Xavier-tarraso-mascarell.jpg

Xavier Tarrasó

As a seasoned user and reviewer of cryptocurrency exchanges, I find Pionex to be an intriguing option, particularly for those who are fascinated by automated trading. The built-in trading bots, which offer diverse strategies and the ability to operate 24/7, make Pionex a standout choice for traders who aim to maximize their trading efficiency without constant personal monitoring. This feature alone simplifies the trading process significantly and can be a game-changer for both new and experienced traders. However, it’s important to approach with a degree of caution and ensure understanding of how these bots operate to truly benefit from what Pionex has to offer.

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How do we review crypto exchanges?

At Threenvest, we conduct a thorough review process to evaluate and rank the world’s leading crypto exchanges. Our goal is to offer an unbiased assessment, providing you with the information you need to make informed decisions on which ones best suit your needs. We strictly adhere to the guidelines of our editorial policy.

 

We collect data directly from exchanges through detailed questionnaires and conduct first-hand testing and observations during crypto exchange demonstrations. Questionnaire responses, combined with demonstrations and hands-on research from our experts, feed into our proprietary evaluation process that scores each provider’s performance on more than 15 factors. The end result produces star ratings ranging from poor (one star) to excellent (five stars).


For more details on the categories considered when rating brokers and our process, read our full methodology.

Risk Disclaimer

Investing in cryptocurrencies is very risky, you should only invest the money you are willing to lose. Also you should not expect to be protected if something goes wrong.

Neither Threenvest, nor the author, are recommending you to invest with this article.

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