Comparison of Independent Reserve vs Xeggex [ 2024 ]

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

Your expert: Alejandro Borja

Independent Reserve

Your expert: Xavier Tarrasó

Xeggex

Main points

Fees

≤0,50%

Earns

Customer service

4/5

0,30%/0,40%

Fees

Earns

3/5

Customer service

Recommended for

Beginners

Yes

Trading

Yes

Passive income

Buy and hold

Yes

Beginners

Trading

Passive income

Yes

Buy and hold

Comparison of fees

Rating

3.9 – Reasonable fees with strong local support in Australia and New Zealand.

3.9 – Competitive fees with additional benefits for high-volume trading.

Level

≤0,50%

0,30%/0,40%

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.

Xeggex structures its commission system to be straightforward and competitive within the industry. The exchange charges a basic trading fee, which is tiered based on the user’s trading volume over a 30-day period, rewarding more active traders with lower fees. Additionally, Xeggex applies withdrawal fees, which vary by cryptocurrency but generally align with network transaction costs to ensure fees remain reasonable. This transparent fee structure helps users plan their trading activities without unexpected costs.

Independent Reserve

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.

Xeggex

Security Methods: Xeggex has implemented robust security measures including two-factor authentication and end-to-end encryption to safeguard user information and assets. This commitment to security is paramount in gaining user trust.
Year Founded: Being established in a period of rapid digital currency expansion, Xeggex has a foundation that aligns with modern cryptographic standards and evolving market needs. The timing of its launch reflects an understanding of market trends and user demands.
Reputation and Reviews: Although relatively new, Xeggex has quickly gained a positive reputation among users for its user-friendly interface and effective customer support. Positive reviews often highlight the ease of use and reliability.
Customer Service: Xeggex places a strong emphasis on customer support with options for real-time assistance. This responsiveness to user needs enhances its trustworthiness and reliability as a service provider.
Withdrawal and Deposit Policies: The exchange maintains clear and concise policies regarding withdrawals and deposits, ensuring transparency and reliability in financial transactions, which builds additional trust among its users.

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Account Minimum

Get started with just $100.

And 1% fee on all cryptocurrency trades.

Direct link to the website

Product selection

Native token

Earns

NFT marketplace

Cripto/debit card

Full name

Independent Reserve Pty. Ltd.

Unknown

Regulation

Regulated in Australia

Not regulated

Year founded

2013

2021

Founder

Adam Tepper

Unknown

Payment methods

Transfers

Yes

Mastercard

Wire transfer

Yes

Card

Comparative table

Independent Reserve	FEATURES	Xeggex
Minimum trade amounts at Independent Reserve are relatively low, making it accessible for new investors.	Minimum Trade	Xeggex allows for relatively low minimum trades, making it accessible for beginners 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	The fees are competitive but could be improved to better match or undercut industry leaders.
Independent Reserve supports a decent range of popular cryptocurrencies, providing enough options for most investors.	Number of Cryptocurrencies	Offers a wide range of cryptocurrencies, providing good options for diversified trading.
The exchange offers a fair selection of crypto-to-crypto pairs, though not as extensive as some larger platforms.	Crypto-to-Crypto Trading Pairs	Supports numerous trading pairs, facilitating versatile trading strategies.
The website is user-friendly and transparent about fees, regulations, and available services.	Website Transparency	The website provides essential information, though some areas could benefit from greater detail regarding policies and operations.
Independent Reserve does not offer a card for in-store purchases.	Credit/Debit Card	Xeggex lacks an exchange card, missing an opportunity for added convenience and benefits for its users.
Offers secure storage options, including insurance for stored assets, enhancing user confidence in the platform’s safety.	Storage Offering	Provides secure storage solutions with an emphasis on safety, though it lacks some advanced features found in specialized wallets.
Independent Reserve does not have extensive staking or rewards programs compared to some other exchanges.	Staking and Rewards	Offers basic staking options and rewards which are attractive but not as competitive as some other exchanges.
Both mobile and desktop platforms are well-designed, ensuring a seamless trading experience across devices.	Mobile App and Desktop	Both the mobile app and desktop platform are well-designed, offering intuitive navigation and a seamless trading experience.
Customer service is responsive, though there is room for improvement in speed and availability during peak times.	Customer Service	Responsive and helpful, but there are occasional delays during peak times.
Deposits and withdrawals are processed efficiently, with multiple options available, although some methods might incur fees.	Deposit and Withdraw	Processes are straightforward with reasonable limits and fees, though improvements could be made in processing times.

Key features

Analysis tools

Basic charting tools

Mobile APP

Security

High 4,6/5

Additional features

OTC trading, SMSF services, staking, insurance options

Margin trading, staking, Xeggex Earn, fiat on/off ramps

Anonymity

Yes

Key points

Available cryptocurrencies

20+

100+

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.

Xeggex 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.

Offers good value for money with competitive fees and a user-friendly platform, making it suitable for both beginners and experienced traders.

Countries of operation

Australia, New Zealand, Singapore

United States, Canada, United Kingdom, Australia, Germany

Best for

Best for Australian and New Zealand investors looking for a reliable platform with competitive fees and strong security.

Suitable for both beginners and experienced traders seeking a user-friendly platform with competitive fees.

Base currencies available

AUD, NZD, USD, BTC

Multiple including USD, 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.

Xeggex focuses on providing a secure and user-friendly platform with a decent range of cryptocurrencies. It offers competitive fees but lacks some advanced trading features.

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.

Xeggex supports various deposit and withdrawal methods, including bank transfers and cryptocurrencies. Withdrawals are processed efficiently, with low 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.

Xeggex offers a seamless and fully digital account opening process. Users need to provide personal information and verify their identity. The process is quick and usually completed within a day.

KYC required?

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.

Xeggex offers customer support via email and live chat. The response time is quick, but the support team is not available 24/7, which may be a drawback 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.

Xeggex provides strong security with 2FA and encryption. Despite its robust security measures, the platform is not regulated by top-tier financial authorities, which could be a concern for some investors.

Which of these exchanges is for you?

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 Tarrasó

As an expert on our website, I highly recommend Xeggex for newcomers in the cryptocurrency space. Its intuitive interface and diverse cryptocurrency offerings make it a standout choice for those starting their trading journey. However, if you’re an advanced trader, you might find the analytical tools a bit limited. Overall, Xeggex presents a solid option with its focus on security and user-friendly design, making it worth considering in your search for a reliable exchange.

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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.

Comparison of Independent Reserve vs Xeggex [ 2024 ]

Independent Reserve

Xeggex

Main points

Recommended for

Comparison of fees

Rating

Level

Brief explanation

Independent Reserve

Xeggex

Product selection

Native token

Earns

NFT marketplace

Cripto/debit card

Company information

Full name

Regulation

Year founded

Founder

Payment methods

Transfers

Mastercard

Wire transfer

Card

Comparative table

Minimum Trade

Trading and Transaction Fees

Number of Cryptocurrencies

Crypto-to-Crypto Trading Pairs

Website Transparency

Credit/Debit Card

Storage Offering

Staking and Rewards

Mobile App and Desktop

Customer Service

Deposit and Withdraw

Key features

Analysis tools

Mobile APP

Security

Additional features

Anonymity

Key points

Available cryptocurrencies

User-friendliness

Value for money

Countries of operation

Best for

Base currencies available

Account

Trading

Deposit and withdrawal

Account opening process

KYC required?

Customer Service

Security

Which of these exchanges is for you?

How do we review crypto exchanges?

Risk Disclaimer

More comparatives Independent Reserve and Xeggex