Comparison of Mexc vs Independent Reserve [ 2024 ]

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

Your expert: Alejandro Borja

Mexc

Your expert: Xavier Tarrasó

Independent Reserve

Main points

Fees

≈ 0,20%

Earns

Customer service

4/5

≤0,50%

Fees

Earns

4/5

Customer service

Recommended for

Beginners

Yes

Trading

Yes

Passive income

Buy and hold

Yes

Beginners

Yes

Trading

Passive income

Yes

Buy and hold

Comparison of fees

Rating

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

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

Level

≈ 0,20%

≤0,50%

Brief explanation

MEXC Exchange offers competitive trading and transaction fees that cater well to both high-volume traders and occasional users. The platform employs a tiered fee structure, where fees decrease as a user’s trading volume increases, providing an incentive for frequent trading. Additionally, holding the exchange’s native token can yield further discounts, making the fees more advantageous. For those using credit or debit cards for deposits or withdrawals, it’s important to note that while convenient, these methods may incur higher fees compared to other payment options. This structure is designed to be economical for active traders while still accommodating casual users.

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.

Mexc

Security Methods: MEXC employs robust security protocols, including a multi-tier and multi-cluster system architecture that ensures the safety and integrity of user data and funds. This comprehensive security strategy helps to protect against potential cyber threats and unauthorized access.
Reputation and Reviews: MEXC enjoys a strong reputation in the cryptocurrency community, backed by positive user reviews that often highlight the platform’s reliability, user-friendly interface, and responsive support.
Trading Volume and Liquidity The exchange boasts high trading volumes and liquidity, which is a testament to its active user base and efficient market operations. This ensures that users can execute trades quickly and at desired prices, even for large volume transactions.
Year Founded: Since its establishment in 2018, MEXC has shown significant growth and resilience in the fast-evolving crypto market, indicating stability and a deep understanding of market needs.
Possible Regulation: MEXC complies with various international regulatory standards, enhancing its credibility and reliability as a secure platform for trading digital assets. This regulatory adherence assures users of its commitment to lawful and ethical operations.

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.

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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

Token MX

Earns

NFT marketplace

Yes

Cripto/debit card

Yes

Full name

MEXC Exchange

Independent Reserve Pty. Ltd.

Regulation

Not regulated

Regulated in Australia

Year founded

2018

2013

Founder

John Chen Ju

Adam Tepper

Payment methods

Transfers

Yes

Mastercard

Yes

Wire transfer

Yes

Card

Yes

Comparative table

Mexc	FEATURES	Independent Reserve
MEXC allows for relatively low minimum trade amounts, making it accessible for beginners and those trading small amounts.	Minimum Trade	Minimum trade amounts at Independent Reserve are relatively low, making it accessible for new investors.
Competitive trading fees with discounts available for high-volume traders and token holders, making it economically viable.	Trading and Transaction Fees	Fees are moderate compared to other exchanges, but some users might find them slightly higher for smaller trades.
Supports over 1,000 cryptocurrencies, offering one of the widest selections in the market.	Number of Cryptocurrencies	Independent Reserve supports a decent range of popular cryptocurrencies, providing enough options for most investors.
Offers a vast array of crypto-to-crypto trading pairs, facilitating diverse trading strategies.	Crypto-to-Crypto Trading Pairs	The exchange offers a fair selection of crypto-to-crypto pairs, though not as extensive as some larger platforms.
While MEXC provides ample information on trading operations, more detailed disclosures could enhance trust.	Website Transparency	The website is user-friendly and transparent about fees, regulations, and available services.
Lacking an exchange card means MEXC users miss out on potential everyday use benefits, such as cashback in crypto on purchases or other rewards that are commonly offered by some other crypto exchanges with proprietary cards.	Credit/Debit Card	Independent Reserve does not offer a card for in-store purchases.
Provides secure storage solutions, but enhanced features for asset management could improve user experience.	Storage Offering	Offers secure storage options, including insurance for stored assets, enhancing user confidence in the platform’s safety.
Offers competitive staking options and rewards, appealing to long-term holders and active traders.	Staking and Rewards	Independent Reserve does not have extensive staking or rewards programs compared to some other exchanges.
The mobile and desktop platforms are highly user-friendly, offering full trading functionality and good design.	Mobile App and Desktop	Both mobile and desktop platforms are well-designed, ensuring a seamless trading experience across devices.
Customer support is available but improvements are necessary in response time and effectiveness.	Customer Service	Customer service is responsive, though there is room for improvement in speed and availability during peak times.
Deposits and withdrawals are handled efficiently, though clarity on timeframes and fees would enhance service.	Deposit and Withdraw	Deposits and withdrawals are processed efficiently, with multiple options available, although some methods might incur fees.

Key features

Analysis tools

Advanced charting tools, technical analysis

Basic charting tools

Mobile APP

Yes

Security

High 4,9/5

High 4,6/5

Additional features

Margin trading, futures trading, staking, MEXC Launchpad

OTC trading, SMSF services, staking, insurance options

Anonymity

Yes

Key points

Available cryptocurrencies

1000+

20+

User-friendliness

MEXC provides a straightforward and easy-to-use platform that is ideal for beginners. The interface is clean and intuitive, making it easy to navigate and execute trades.

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.

Value for money

Delivers good value for money with competitive fees and a wide range of supported cryptocurrencies, making it an affordable option for traders.

Delivers good value for money with competitive fees and strong security features, suitable for Australian and New Zealand users.

Countries of operation

Singapore, United States, Canada, Australia, United Kingdom

Australia, New Zealand, Singapore

Best for

Best for traders seeking a platform with a wide range of cryptocurrencies and competitive fees.

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

Base currencies available

USDT, BTC

AUD, NZD, USD, BTC

Account

Trading

MEXC offers a wide range of cryptocurrencies and advanced trading tools. It has competitive fees and high liquidity, making it suitable for experienced traders.

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.

Deposit and withdrawal

MEXC offers multiple deposit and withdrawal methods, including bank transfers and crypto. Withdrawals are processed quickly, usually within a day, with low fees.

Independent Reserve is popular in Australia and New Zealand, offering easy fiat and cryptocurrency deposit methods. Withdrawals are processed efficiently, with competitive fees.

Account opening process

MEXC provides a straightforward and user-friendly account opening process. Users need to submit personal details and verify their identity. The process is efficient and usually takes less than a day to complete.

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.

KYC required?

Yes

Customer Service

MEXC provides extensive customer support via email, live chat, and phone. The support team is responsive and available 24/7, ensuring users get timely assistance.

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.

Security

MEXC employs robust security features, including 2FA and cold storage. However, it is not regulated by major financial authorities, which might be a concern for some investors.

Independent Reserve employs comprehensive security measures, including 2FA, encryption, and cold storage. It is regulated by Australian authorities, ensuring high security for investors.

Which of these exchanges is for you?

Alejandro Borja

As an expert on our website, I recommend MEXC Exchange for its impressive array of over 1,000 cryptocurrencies and robust trading options, making it ideal for both new and seasoned traders. However, potential users should note the areas needing improvement, particularly customer service responsiveness. Overall, if you’re looking for a platform with high liquidity and diverse trading capabilities, MEXC is a solid choice, but be prepared for possible delays in support when you need assistance.

Xavier Tarrasó

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.

Read mexc review

View all comparisons against Mexc

Read Independent Reserve review

View all comparisons against Independent Reserve

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.