Swyftx alternatives - Compare against other exchanges

Comparing of 8 Swyftx alternatives

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On website

Independent Reserve

Highlights

Trading fees at Swyftx are higher compared to those of Independent Reserve. Moreover, Independent Reserve charges less for making more trades.
Independent Reserve is behind Swyftx in terms of customer reviews, and its Trustpilot ratings are lower than Swyftx.
Swyftx and Independent Reserve both provide high security and are considered secure exchanges in Australia.

Pros

Fee-free deposits and trading fees starting from 0.02%.
Built-in tax calculator to simplify your tax return process.
Australia's first insured cryptocurrency exchange.
ISO certified and has an AUSTRAC license.

Cons

Limited selection of cryptocurrencies compared to other platforms.
1% deposit fee for transactions made with debit/credit cards or PayPal.

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On website

eToro AUS Capital Limited AFSL 491139. eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.

eToro

Highlights

Swyftx has a reputation for having low transaction and trading costs. The eToro trading fees vary based on the coin being traded. In most situations, though, eToro is more expensive than Swyftx.
Swyftx has more coins listed on its platform than eToro, making it the better choice for those looking for diversity.
Swyftx is well-known as one of Australia's most trustworthy exchanges, although eToro is also secure and highly trusted.

Pros

Stock fees are low, helping you keep more of your returns.
Pricing is competitive, giving you good value for your trades.
Access to a wide range of markets.
The platform is simple to use, even if you’re new to trading.
Social trading lets you follow and learn from experienced investors.
Access to market news and trader insights.

Cons

Customer support is limited.
Advanced traders may find the analytical tools too basic.
Withdrawals come with a $5 fee, which can add up over time.
Only a few account base currencies are available, which may lead to extra conversion costs.

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On website

CoinSpot

Highlights

Swyftx’s trading charges are higher than CoinSpot. CoinSpot, however, charges a hefty convenience fee on all trades as compared to Swyftx. So overall, Swyftx is cheaper.
Swyftx and Coinspot are both AUSTRAC-regulated companies that adhere to the Australian financial system’s rigorous rules. CoinSpot, on the other hand, has ISO security accreditation, which ensures bank-level security.
Swyftx provides excellent customer service and has a very high Trustpilot rating. CoinSpot is not far behind, although its Trustpilot scores are somewhat lower when compared to Swyftx.

Pros

Trade at just 0.1% fee and withdraw in AUD for free.
Purchase crypto packages (Bundles) in a single transaction.
Multiple deposit options with free PayID and Direct Deposit.
Access to the CoinSpot NFT Marketplace.
User-friendly mobile app for easy trading on the go.
Earn $10 in BTC by referring a friend.
24/7 customer support is available.

Cons

Margin trading is not available, as it focuses on buying, selling, and swapping a wide range of cryptocurrencies.
Fewer selections of cryptocurrencies compared to larger global exchanges.

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On website

Binance Australia

Highlights

Swyftx's total trading costs are greater than Binance's, but Swyftx provides superior overall security.
Binance is a wonderful platform for expert traders, but it is not user friendly for newbies. Swyftx, on the other hand, is appropriate for all traders and boasts a user-friendly interface.
Both platforms are AUSTRAC-registered and regulated, which means they must follow Know Your Customer and Anti-Money Laundering standards.

Pros

Low trading fees.
Easily deposit funds using credit or debit cards.
Practice with demo trading before diving into real investments.
Access powerful charting and trading features designed for experienced traders.
24/7 live chat support.
AUSTRAC regulated.

Cons

The platform's user interface can be complex for beginners, making it harder to navigate initially.
Ongoing regulatory challenges in various countries could raise concerns for some users regarding its long-term stability.

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On website

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Coinbase

Highlights

Trading fees at Swyftx and Coinbase are almost at par. However, Swyftx is slightly more expensive.
Both Coinbase and Swyftx provide live customer assistance. Trustpilot evaluations of Coinbase, on the other hand, are quite poor, and Swyftx leads by a significant margin.
Coinbase customers can earn cryptocurrency by learning about the platform's blockchain initiatives.

Pros

Access a broad selection of altcoins for diverse trading opportunities.
Start trading with as little as $2, making it beginner-friendly.
Advanced trading features like Market, Limit, Stop Limit, and Auction Mode orders for greater control.
Effortlessly toggle between Simple and Advanced Trade modes to suit your needs.
Unlock zero trading fees and earn up to 4.5% USDC rewards with Coinbase One.
Coinbase Australia is fully registered with AUSTRAC for added security and compliance.

Cons

Trading fees are relatively higher compared to some other exchanges.
Customer support can be slow at times, causing delays in resolving issues.

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Not available for application via this website

Kraken

Highlights

Trading fees on Kraken are cheaper than with Swyftx. Kraken's charges vary depending on the value of the transaction.
Swyftx offers a huge choice of cryptocurrencies for trading compared to Kraken.
Kraken provides a robust trading platform that is designed for intermediate and experienced traders. Swyftx, on the other hand, is suitable for even the most inexperienced users.

Pros

A wide selection of tokens to trade, including popular ones like Bitcoin and Ethereum.
Offers educational resources to guide both beginner and advanced traders.
Supports multiple fiat currencies, making it easier for Aussie users to deposit and withdraw.
AUSTRAC regulated, ensuring a level of trust and security for Australian users.

Cons

Limited funding and withdrawal options compared to other platforms.
Trading fees are higher than those offered by some major exchanges.

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On website

CoinJar

Highlights

CoinJar employs cutting-edge security to safeguard customer funds. For example, 90 percent of user assets in CoinJar wallets are held in offline cold wallets for optimum security. Swyftx, on the other hand, does not provide this service, although it still provides excellent overall security.
Swfytx's trading fees are fixed, whereas CoinJar's trading fees are variable and higher for small-value transactions.
Swyftx's total number of tradable cryptocurrencies is significantly higher than what you’ll get at CoinJar.

Pros

Simple and beginner-friendly interface.
Free deposits and withdrawals for AUD, GBP, and EUR.
Start trading with as little as $20—great for beginners.
Competitive fees compared to other exchanges.
Earn crypto rewards with CoinJar Earn.
Customer support is available every day of the week.

Cons

Limited to around 60 crypto tokens, which is fewer than many competitors.
No demo account for practice trading.
Lacks advanced trading features like margin or futures trading.

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On website

Cointree

Highlights

When compared to Swyftx, Cointree has higher trading costs. High-value transactions, on the other hand, are slightly cheaper on Cointree.
Swyftx and Cointree are excellent for beginners since they have a clean interface and trading choices.
Swyftx and Cointree are both Australian companies that are registered with AUSTRAC, providing additional security.

Pros

Well-established platform since 2013.
Trade easily with Australian dollars.
Competitive fees for quick buys and sells.
View and copy portfolios of successful traders.
Fast and straightforward trading with the Cointree app.
24/7 customer support is available.
AUSTRAC regulated for added security.

Cons

Account verification can take up to 48 hours.
No access to a spot market for direct trading.
Maximum trade size is limited to $50,000