Independent Reserve — review, real fees and net cost

Name: Independent Reserve
Brand: Independent Reserve

Data & conditions

Maker / Taker fee	0.5% / 0.5%
Markets	Spot
Max leverage	5×
Supported assets	41+
Trading pairs	63+
24h volume	$14.38M
Fiat on-ramp	Yes
Deposit methods	Bank transfer, EFT, SWIFT, Osko/PayID, POLi, Credit/Debit card, PayPal, Crypto
Geo restrictions	United States, China, Turkey, Iran, North Korea, Afghanistan, Syria, Oman, Sudan, Nigeria, Turkmenistan, Thailand
Fund custody	Custodial (platform holds funds)
KYC	Full
Supported countries	APAC · 3+ countries
Regulator	ASIC / AUSTRAC
OAM Italy registration	No
Segment	B2C
MiCA / License status	AUSTRAC AU + MAS SG MAS (Singapore); ASIC+AUSTRAC (AU)

Strengths

Triplice license ASIC+AUSTRAC+MAS; SOC 2; acquisita IG Group.

No notable sovereignty advantage documented.

Weaknesses

Volume reduced; less known internationally.

Custodial: the platform holds your funds and can freeze or lose them.
Full KYC required: verified identity, zero pseudonymity.
Subject to regulation (MAS (Singapore); ASIC+AUSTRAC (AU)): reporting to authorities and freezes on order.
Geographic restrictions (United States, China, Turkey, Iran, North Korea, Afghanistan, Syria, Oman, Sudan, Nigeria, Turkmenistan, Thailand).

Verdict

A D ★ 4.0/5 ★ 0.7/5

The high rating is well supported: Independent Reserve holds a triple ASIC, AUSTRAC and MAS licence, SOC 2 certification and is now part of IG Group — one of the most robust guarantee frameworks in the category for users in Australia and Singapore. The limit holding the score back is scale: volumes below the major competitors and limited international recognition; it isn't reachable from Italy.

On the sovereignty lens its very strengths turn irrelevant or counterproductive: the triple licence and SOC 2 describe a deeply regulated custodial exchange with full KYC, where the user never holds the keys. Maximum institutional protection means minimal individual sovereignty — no privacy, no self-custody, no censorship resistance.

Privacy & anonymity 30% 0.8

Fund control 20% 0.0

Censorship resistance 20% 1.5

Costs 10% 0.0

Promp's editorial rating based on real fees and net annual cost. Promp reviews third-party products independently.

"Sovereignty" rating: score computed on privacy/anonymity (30%), fund control (20%), censorship resistance (20%), trustless/auditability (20%) and costs (10%). Same data, different weights.

FAQ

What are Independent Reserve's fees?

On Independent Reserve, spot fees are maker 0.5% / taker 0.5%. They drop with monthly volume and VIP tier.

Is Independent Reserve regulated in Europe?

Regulatory status of Independent Reserve: MAS (Singapore); ASIC+AUSTRAC (AU). Licence: AUSTRAC AU + MAS SG (AU).

Does Independent Reserve publish Proof of Reserves?

Proof of Reserves publication is not documented for Independent Reserve. No third-party reserve audit is documented. Reserve transparency is a critical factor after the FTX collapse.

Can I send transfers to third-party IBANs from Independent Reserve?

No, Independent Reserve is an exchange and does not allow transfers to third-party IBANs: fiat withdrawals return to a bank account in your own name.

Does Independent Reserve support derivatives and futures?

Independent Reserve does not offer derivatives: it focuses on spot trading.