Independent Reserve Fees and Minimum Deposit - TU Expert review
After considering a crypto exchange’s security, examining its fees is the next crucial step. Lower fees translate to higher potential profits. Newcomers to crypto trading may also want to consider the minimum deposit required to start trading, as they might prefer to begin with a smaller investment.
Traders Union analysts have assessed Independent Reserve fees and minimum deposit requirements to help prospective crypto traders make informed decisions.
Short introduction of Independent Reserve
The Independent Reserve cryptocurrency exchange offers a vast array of opportunities for making money on cryptocurrency. The site provides margin and OTC trading of Bitcoin, Ethereum, Ripple, Litecoin, Bitcoin Cash, and tons of other cryptocurrencies. The exchange has its proprietary trading terminal with an integrated AutoTrader function, which allows you to automatically trade sticking to your selected strategy. The platform allows to buy, sell, and insure cryptocurrency through self-managed super funds (SMSF). Also, flexible investment programs are available for business representatives. The site offers a profitable referral program with discounts and rewards. There is a knowledge base for novice traders. Finally, trading fees are below the market average.
👍 Advantages of trading with Independent Reserve:
•free-of-charge multicurrency e-wallet, all major deposit and withdrawal options are at your disposal;
•dozens of popular cryptocurrencies and Australian, New Zealand, Singapore, and US fiats;
•a profitable affiliate program with payments for referrals;
•integrated AutoTrader solution for automated trading;
•trading cryptocurrencies through self-managed super funds;
•business investment solutions;
•premium accounts with insurance and tax advisors;
•top-notch account security;
•low fees from 0.02% to 0.5% for the maker and taker, respectively.
👎 Disadvantages of Independent Reserve:
•no mobile trading;
•there are no investment offers for private traders;
•technical support is available only through the website.
Independent Reserve Commissions and Fees
Commission charges on trading operations are fixed for the taker/maker, depending on the level — from 0.02% to 0.5%. You can reduce the fee by increasing the trading volume (conditions are specified in the corresponding section of the Knowledge Base). For example, at a zero trading level with a trading volume of less than $100,000 in the last 30 days, the fee is 0.5%. At the next level (up to $150,000), the fee is already 0.48%.
Depositing funds in cryptocurrency is carried out without fees. The fee for depositing funds in fiat depends on the method of deposit and the total amount of funds deposited. For example, all deposits credited with PayID and Osko are subject to a one-time AUD 20.50 fee, but no fee is charged for deposits over AUD 1,000.
| Account type | Spread (minimum value) | Withdrawal commission |
| Standard | 0.5% per order | Yes |
A broker is an intermediary between a trader and an exchange. Therefore, brokers charge fees for their services. The fees may have different structure.
There are the following fees in the Crypto market:
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Spread – the difference between the buy and the sell price of an asset.
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Commission per lot.
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Commission per trade.
Broker fees may differ depending on the trading account type. For example, on some accounts spread is used as a trading fee, and on others – commission per lot.
Why is it important to consider the minimum deposit at a cryptocurrency exchange?
Accessibility: The minimum deposit helps traders determine if they can afford to start trading on an exchange.
Risk Management: Exchange-set minimum deposits ensure traders have sufficient funds to cover potential losses and fees, preventing financial overextension.
Platform Suitability: The minimum deposit amount can be an indicator of the exchange’s target audience and trading volume, aiding traders in selecting a platform aligned with their goals.
Cost Considerations: Assessing minimum deposit requirements helps traders account for trading expenses.
Are the fees and minimum deposit requirements at Independent Reserve suitable for beginners?
Analysis of Independent Reserve shows that the broker has a rather high minimum deposit. It could pose a problem for traders, who are only starting their path in trading. Nevertheless, the fees are low. Therefore, the broker will be a good choice for professional traders.
FAQs
What deposit amount should a beginner start with?
Some brokers offer a minimum deposit of $1. However, it is recommended to deposit at least $300-500 to the account to be able to trade fully.
Can the fees differ depending on the asset?
Yes. This is why many brokers specify the fees for each asset individually.
What are non-trading fees?
Non-trading fees are the fees charged outside the trading process, for example deposit and withdrawal fee, inactivity fee, etc.
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Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
Dr. BJ Johnson is a PhD in English Language and an editor with over 15 years of experience. He earned his degree in English Language in the U.S and the UK. In 2020, Dr. Johnson joined the Traders Union team. Since then, he has created over 100 exclusive articles and edited over 300 articles of other authors.