Swyftx
Swyftx
Data verified on unchanged since the sources
Worth it if you trade from Australia or New Zealand and want an AUSTRAC exchange rated 4.4/5 on Trustpilot, with a demo mode and integrated Caleb & Brown OTC.
Avoid it if you live in Italy or care about spread: it's limited to Australia and New Zealand and charges a 0.60% spread fee.
Swyftx is a regional exchange with 1.5M users, a solid Trustpilot score (4.4/5), a demo mode and integrated OTC service via Caleb & Brown. It is, however, limited to Australia and New Zealand and applies a 0.60% spread, less competitive than direct fees.
Data & conditions
| Maker / Taker fee | 0.6% / 0.6% |
|---|---|
| Markets | Spot |
| Max leverage | 1× |
| Supported assets | 420+ |
| Trading pairs | 440+ |
| 24h volume | $32M |
| Fiat on-ramp | Yes |
| Deposit methods | Bonifico bancario AUD, PayID, OSKO, Carta di credito/debito |
| Geo restrictions | US, EU, IT, GB |
| Fund custody | Custodial (platform holds funds) |
| KYC | Full |
| Supported countries | APAC · 2+ countries |
| Regulator | ASIC / AUSTRAC |
| OAM Italy registration | No |
| Segment | B2C |
| MiCA / License status | AUSTRAC AU AUSTRAC (AU) |
Strengths
- Trustpilot 4,4/5; 1,5M users; demo mode; OTC Caleb & Brown integrated.
- No notable sovereignty advantage documented.
Weaknesses
- Only AU/NZ; fee spread 0,60%.
- Custodial: the platform holds your funds and can freeze or lose them.
- Full KYC required: verified identity, zero pseudonymity.
- Subject to regulation (AUSTRAC (AU)): reporting to authorities and freezes on order.
- Geographic restrictions (US, EU, IT, GB).
Verdict
Among the highest scores in the category: Swyftx is AUSTRAC-regulated, has 1.5 million users, an excellent Trustpilot (4.4/5), a demo mode and integrated OTC via Caleb & Brown — all reassuring for a newcomer. The drag is the 0.60% spread, less competitive than a direct fee, and coverage limited to Australia and New Zealand; not reachable from Italy.
On the crypto-native axis Swyftx offers little: it is custodial with full KYC, so no self-custody and no anonymity. Its strengths (demo, OTC, solid reputation) are built for the mainstream user and say nothing to those seeking privacy, on-chain settlement and censorship resistance; the spread model is, moreover, the opposite of on-chain transparency.
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.
Reputation
What happened to people who used Swyftx, and what users say. External signals: they do not feed the promp.it rating.
Incidents & regulatory actions
History not verifiedWe have not yet completed the incident search for this service: no entries here does not mean no events.
Public reviews
-
App Store ↗
4.5/5
6,038 reviews
App 'Swyftx: Buy Bitcoin, ETH & SOL', trackId 1516986805, publisher Swyftx Pty Ltd, AU store
-
Trustpilot ↗
4.4/5
5,374 reviews
Domain au.trustpilot.com/review/swyftx.com.au
Weighted average across 2 public review platforms (11,412 reviews in total), weighted by volume. This is not our rating: it is those platforms’ average.
FAQ
What are Swyftx's fees?
On Swyftx, spot fees are maker 0.6% / taker 0.6%. They drop with monthly volume and VIP tier.
Is Swyftx regulated in Europe?
Regulatory status of Swyftx: AUSTRAC (AU). Licence: AUSTRAC AU (AU).
Does Swyftx publish Proof of Reserves?
Proof of Reserves publication is not documented for Swyftx. 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 Swyftx?
No, Swyftx is an exchange and does not allow transfers to third-party IBANs: fiat withdrawals return to a bank account in your own name.
Does Swyftx support derivatives and futures?
Swyftx does not offer derivatives: it focuses on spot trading.
Sources
- Official service page Maker/taker fees · Regulatory framework · Derivatives · OAM Italy registry · +2 Data verified on Jun 15, 2026
- gtlaw.com.au Legal name · Company type Data verified on Jun 15, 2026
- pitchbook.com Founders · Stock ticker · Stock listing · IPO date · +1 Data verified on Jun 15, 2026
- startupdaily.net 24h volume · Volume data · Latest funding round Data verified on Jun 15, 2026
Show 5 more sources
- support.swyftx.com Deposit methods Data verified on Jun 15, 2026
- hedgewithcrypto.com Staking & Earn · Max leverage Data verified on Jun 13, 2026
- marketplacefairness.org Past incidents · Proof-of-Reserves · Third-party audit Data verified on Jun 13, 2026
- tradingfinder.com Trading pairs · Geographic availability Data verified on Jun 13, 2026
- trustpilot.com Trustpilot reviews Data verified on Jun 13, 2026