Crypto Exchange comparison
Independent Reserve vs Kraken
Independent Reserve and Kraken both offer solid crypto trading for Australians, but the biggest practical difference is ownership structure and local accountability. Independent Reserve is an Australian-founded, ASIC-regulated company with full CHESS-like local custody, while Kraken is a global giant operating here via its local subsidiary Bit Trade Pty Ltd (AFSL 545124). That distinction ripples through everything from account types to support hours.
Choose
Independent Reserve
if…
- ›You want an Australian-founded, locally regulated exchange with a founder-led team based in Sydney
- ›You need joint accounts or SMSF accounts — Kraken doesn't offer joint accounts at all
- ›You want zero minimum deposit and zero minimum trade size to start investing immediately
- ›You value a built-in CGT calculator and tax report to simplify your end-of-year obligations
- ›You prefer depositing via PayPal, SWIFT (USD/NZD/SGD), or PayNow (SGD) for international flexibility
Choose
Kraken
if…
- ›You want 24/7 live chat and phone support — Kraken's support never sleeps
- ›You prefer a full desktop trading platform with advanced charting, not just mobile apps
- ›You want to deposit via Apple Pay or Google Pay directly from the mobile app
- ›You're comfortable with a global exchange that has been operating since 2011 and has deeper liquidity on some pairs
- ›You want to start with as little as $5 — though Independent Reserve also has no minimum, Kraken's minimum is clearly stated at $5
Where they differ
| Fact | Independent Reserve | Kraken |
|---|---|---|
| Account types | Individual, Joint, Company, Trust, SMSF | Individual, Company, Trust, SMSF (no Joint accounts) |
| CGT calculator / tax report | Built-in CGT calculator and tax report | No built-in CGT calculator |
| Desktop platform | No desktop platform (mobile only) | Full desktop trading platform available |
| Customer support hours | 24/7 portal; phone during Sydney business hours | 24/7 live chat and phone support |
| Deposit methods | PayID, Osko, EFT, SWIFT, debit/credit card, PayPal, PayNow | PayID, Osko, debit/credit card (mobile app), Apple Pay, Google Pay |
Verdict
Pick Independent Reserve for local accountability, joint accounts, and built-in tax tools; pick Kraken for 24/7 support and a proper desktop platform.
All data points side-by-side
Every verified fact for both platforms. Differences are highlighted.
| Field | Independent Reserve | Kraken |
|---|---|---|
| account structure | ||
| Individual account | Yes | Yes |
| Joint account | Yes | No |
| Company account | Yes | Yes |
| Trust account | Yes | Yes |
| SMSF account | Yes | Yes |
| Kids / minor account | No | No |
| asset coverage | ||
| Crypto trading | Yes | Yes |
| IPO access | No | No |
| costs hidden | ||
| Market data fees | $0/month | $0/month |
| Conditional order fees | $0 | $0 |
| costs visible | ||
| Monthly platform fee | $0/month | $0/month |
| Annual platform fee | $0/year | $0/year |
| Inactivity fee | $0 | $0 |
| Withdrawal fee (AUD) | $0 | $0 |
| identity and trust | ||
| Legal entity name | Independent Reserve Pty Ltd | Bit Trade Pty Ltd (trading as Kraken) |
| AFSL number | — | 545,124 |
| AUSTRAC registration | Yes | Yes |
| Year founded | 2,013 | 2,011 |
| Parent / ownership | Privately owned; founder-led (Adrian Przelozny, CEO) | Payward, Inc. (Bit Trade Pty Ltd acquired by Kraken in 2020) |
| Country of incorporation | AU | AU |
| Public company status | private | private |
| money movement | ||
| Minimum initial deposit | $0 | $5 |
| Minimum subsequent purchase | $0 | $5 |
| Deposit methods | PayID, Osko, EFT bank transfer, SWIFT (USD/NZD/SGD), Debit card, Credit card, PayPal, PayNow (SGD) | PayID, Osko bank transfer, Debit card (mobile app), Credit card (mobile app), Apple Pay, Google Pay |
| Withdrawal time | Same day for PayID instant withdrawals; 1-2 business days for EFT | AUD withdrawals via Osko bank transfer typically same business day (PayID withdrawals not yet supported) |
| platform ux | ||
| iOS app | Yes | Yes |
| Android app | Yes | Yes |
| Desktop platform | No | Yes |
| Demo account | No | No |
| Free real-time market data | Yes | Yes |
| Free research reports | No | No |
| 2FA support | authenticator | authenticator |
| Customer support channels | email, support portal, phone (business hours) | 24/7 live chat, email, support portal, phone (24/7) |
| Support hours (AU time) | 24/7 portal support; phone in Sydney business hours (AET) | 24/7 (live chat and phone) |
| Education content | basic articles | video + courses |
| tax and reporting | ||
| Australian tax statement | Yes | Yes |
| CGT calculator / report | Yes | No |
| Sharesight / Navexa integration | Yes | Yes |
| trading mechanics | ||
| Market orders | Yes | Yes |
| Limit orders | Yes | Yes |
| Stop loss orders | Yes | Yes |
| Conditional orders | Yes | Yes |
| Auto-invest / DCA | Yes | Yes |
| Auto-invest sophistication | single asset | single asset |
| After-hours / overnight trading | Yes | Yes |