Swyftx Review 2024
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- $1
- TradingView
- Humongous selection of cryptocurrencies and coins, the only fiat currency is the Australian dollar, trading terminal in the browser is adapted for mobile gadgets and has advanced functionality, there is no referral program and investing
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- $1
- TradingView
- Humongous selection of cryptocurrencies and coins, the only fiat currency is the Australian dollar, trading terminal in the browser is adapted for mobile gadgets and has advanced functionality, there is no referral program and investing
Our Evaluation of Swyftx
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
Swyftx is a cryptocurrency exchange with higher-than-average risk and the TU Overall Score of 3.2 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by Swyftx clients on our website, Traders Union expert Anton Kharitonov recommends users to consider a more reliable broker with better conditions, as, according to reviews, many clients of this broker are not satisfied with the company’s work.
The Swyftx crypto exchange offers one of the most convenient and functional TradingView terminals that has been modified to include a mass of unique and useful features. There is no need to install a mobile app because the site is adapted to any mobile device. Many cryptocurrencies and coins are traded on the exchange, and their pool is constantly expanded. Initially, the commission average on the market is 0.6% of the transaction amount, but fees can be significantly reduced by increasing the volume of trading, plus bonuses from the Traders Union. Referral programs and investing in the exchange are absent. Technical support is represented by the online chat, and there is also a call center. Technically the exchange meets all modern requirements in terms of speed, functionality, and security.
Brief Look at Swyftx
The Swyftx crypto exchange has all popular cryptocurrencies and tokens available for trading such as Bitcoin (₿), Litecoin (Ł), Ethereum (Ξ), Ark, ICON, Neo, Orchid, and dozens of other popular assets. Yet, only the Australian dollar (AUD) is represented from fiat currencies. It offers a multicurrency wallet, and several depositing and withdrawing options are available, including bank transfers in fiat currency. The TradingView terminal is adaptive, and you can trade using a browser on your PC, smartphone, or tablet. There is a demo mode that has a training system for beginners with up-to-date articles. The maximum trading commission is 0.6%, which decreases as the trading volume increases. Commissions for deposits are absent. If you withdraw in Australian dollars, Swyftx does not charge commissions.
- hundreds of cryptocurrencies and tokens and the AUD are available for trading;
- the maximum commission is 0.6% (reduced when trading volumes increase);
- upgraded TradingView terminal with added features;
- the terminal is adaptive, the exchange site is easy to work with on all devices, including smartphones;
- average exchange spread is 1.7% (the average in the segment is 4%);
- transparent working conditions and no additional fees;
- recommended bundles, recurring orders, automatic stop and limit orders;
- For advanced traders, there is API, login security 2FA (two-factor authentication), integration with PayID, OSKO, and POLi.
- the exchange is focused on active trading, so there are no investment solutions, referral programs, and other options for passive income;
- there are no other fiat currencies except the Australian dollar.
TU Expert Advice
Financial expert and analyst at Traders Union
The exchange launched in 2018 and entered the global market a year later, becoming one of the leading platforms, according to user reviews on niche resources. It is headquartered in Australia (Milton). The company operates officially under regional financial legislation, and it has an active license.
As part of a comprehensive inspection, experts have not identified any evidence of violations of the law, fraud, unresolved conflicts with customers, or failure of the exchange to fulfill its obligations. Users assess the platform as convenient, reliable, and safe.
It does not have a mobile application, but the website has an integrated trading terminal that is well adapted for all types of gadgets. Several features distinguish the terminal from the standard TradingView. There are stop orders, limit orders, advanced technical analysis tools on the charts, and detailed statistics.
Commissions are average on the market but can be lowered due to the trading volume and bonuses in the form of rebates from the Traders Union. In general, financial terms of cooperation with the exchange are assessed as favorable. There are no hidden or undeclared fees. Except for active trading, the exchange does not offer other functions such as staking, referral programs, or contests.
Important pluses are the demo mode and call center. The speed of response of technical support in the online chat is no more than 10 minutes, which is better than the average market. Experts have not identified constructive disadvantages of the exchange, and it is equally convenient for beginners and experienced traders. However, it does not suit those who are focused on passive income.
Swyftx Summary
| 💻 Trading platform: | TradingView, upgraded |
|---|---|
| 📊 Accounts: | Standard, demo |
| 💰 Account currency: | Cryptos, AUD |
| 💵 Replenishment / Withdrawal: | Bank cards and accounts, electronic, cryptocurrencies, and multicurrency wallets |
| 🚀 Minimum deposit: | No |
| ⚖️ Leverage: | No |
| 💼 PAMM-accounts: | No |
| 📈️ Min Order: | From 0 |
| 💱 Commission: | Market |
| 🔧 Instruments: | Cryptos, AUD |
| 💹 Margin Call / Stop Out: | No |
| 🏛 Liquidity provider: | No |
| 📱 Mobile trading: | No |
| ➕ Affiliate program: | No |
| 📋 Orders execution: | Not indicated |
| ⭐ Trading features: | Humongous selection of cryptocurrencies and coins, the only fiat currency is the Australian dollar, trading terminal in the browser is adapted for mobile gadgets and has advanced functionality, there is no referral program and investing |
| 🎁 Contests and bonuses: | Traders Union bonuses |
To start trading on this exchange, you must register and pass the verification (confirm your personal data). The minimum deposit is not established, but there is a minimum amount for transactions on different pairs. Clients of the exchange regulate their own financial policy. A trader must rely only on his budget because the site does not provide leverage or the possibility of borrowing in cryptocurrency (some competitors have such a possibility). An indisputable advantage of the exchange is the high quality of technical support, it works in several languages, and responds with lightning speed. The main channels of communication are the call center, online chat, and email. The call center has a “division of labor” mode where you can specify the appropriate section of the site where you need help. The optimal variant of communication is online chat. There, an expert responds in less than 10 minutes and stays in touch until the final resolution of the issue. Chat and email are available without breaks and weekends.
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Commissions and fees
There are two ways to reduce fees on trading operations. The first way is to increase the volume of trades. The exchange has no trading levels in its traditional sense. The client cannot calculate the amount of discount in advance, but over time, the fees for him at the time of the transaction will be reduced, recalculation is permanent according to the activity of the trader.
The second option to reduce fees is by rebates — a return of a portion of the commission — on the exchange’s fees. This can be done through the Traders Union rebate service. Experts highly recommend using all available possibilities because under standard conditions the site's commissions are at a level of the average market.
| Account type | Commission (minimum value) | Withdrawal commission |
|---|---|---|
| Standard | Up to 0.6% per order | Yes |
The exchange does not charge a commission for deposits, regardless of the type of deposit (please note that third-party services may charge a commission). Withdrawal fees are different for each asset; these fees are fixed and are not affected by the client's withdrawal amount or trading volumes. For example, if the client withdraws Bitcoin, the commission will be ₿0.0005, which is average for the niche. There are no withdrawal fees on Australian dollars.
| Broker | Average commission | Level |
|---|---|---|
|
$0.6 | |
|
$20 | |
|
$0.1 |
Investment Options
The Swyftx cryptocurrency exchange does not offer investment solutions. There are no staking, interest-bearing loans, or other passive income programs. Here, traders earn only by actively buying and selling cryptocurrencies and tokens.
If you are a large investor and plan on investments over $10,000, contact us at vip-invest@tradersunion.com or by the feedback form on our website. Our professional team will take you through all the intricacies of the deal and all the steps from signing up to withdrawal of profits.
Swyftx’s affiliate program
This crypto exchange does not present affiliate (referral) programs for the main mass of users (individual offers for large niche bloggers are possible).
Many experts see this as an indicator that the exchange is progressively developing and feels great on the world stage, easily competing with other platforms. And consequently, it has no motivation to further stimulate the inflow of traders, via referral programs.
User Satisfaction