How good is Swyftx for Aussie crypto traders?

By   |   Verified by David Boyd   |   Updated 6th May 2022

Finty Review Swyftx
  • Swyftx Is an easy-to-use platform and mobile app designed for both beginner and advanced crypto traders.
  • The Swyftx platform is fully licensed and regulated by AUSTRAC (Australian Transaction Reports and Analysis Centre).
  • Swyftx supports over 260 cryptocurrencies including Bitcoin, Ethereum, Ripple, and DeFi coins.

Swyftx is a cryptocurrency exchange that offers some of the best prices and lowest fees for crypto trading in Australia. Registered in 2017 and based in Brisbane, Queensland, Swyftx offers a variety of tools to help you trade profitably. Let’s explore what you get when opening an account.


On Swyftx's website



  • Receive $10 worth of BTC when you sign up and verify your account.
  • Trade over 260 assets on Swyftx including Bitcoin, Ethereum, Ripple and Litecoin as well as DeFi coins such as UniCoin.
  • Deposit or withdraw funds from your account using several payment methods (PayID, OSKI, POLi or bank transfers).
  • New to Crypto? Try Swyftx's demo mode, it allows you to mock trade with no financial risk while you learn the ropes of crypto trading.

What is Swyftx?

Originally launched by Angus Goldman and Alex Harper, Swyftx was created to meet the high demand for a liquid cryptocurrency exchange that adhered to Australian cryptocurrency regulations and tax system.

Swyftx brokerage services make the platform perfect for new traders, as well as experts from Australia that want to use a crypto exchange specifically tailored towards that region.

It offers a cryptocurrency self-managed super fund that it manages itself, providing investors tax benefits and the ability to leverage the cryptocurrency market on a larger scale.

Is Swyftx safe?

Swyftx protects your assets through a mixture of cold and hot wallet storage. It uses enhanced security including 2FA authentication and JWT tokens & session expiry. You also have the ability to store your assets in an external, offline wallet.

Swyftx is owned and operated by Swyftx Pty Ltd (ACN 623 556 730). It has a robust privacy policy and as an AUSTRAC-registered digital currency exchange provider or DCEP, they maintain strict Know Your Customer (KYC) policies and transaction monitoring programs which assist in the reduction of money laundering and counter any terrorism.

Who is Swyftx aimed at?

The platform is primarily aimed at people in Australia due to the fact that it adheres to their regulation and complies with their tax laws, however, people from New Zealand, the United Kingdom, and Canada can also create an account, with support for Ireland and India coming in the near future.

Tradable assets

You can buy, sell or trade over 260 cryptocurrencies, and you even get access to a demo mode to refine your strategy.

Some notable coins out of its lineup include ADA, ZRX, 1INCH, AAVE, ACM, ADX, ELF, AERGO, AE, DLT, AION, AST, AKRO, ALGO, TLM, APHA, AMB, ANKR, APPC, ANT, and more.

This is definitely one of the largest exchanges in terms of fully regulated exchanges offering users a multitude of assets to trade.


Swyftx charts draw on a simple user interface, however, you can access major charts with a wide range of features that on other exchanges might require third-party software for access.

A customizable dashboard allows you to set up and see all of your favorite technical indicators, and it is fully backed up and similar to TradingView in terms of the information shown.

For more experienced traders, Swyftx offers advanced order options for more complex trades. In addition, an automated recurring deposit feature allows you to schedule automatic investing.

Another key feature is an automatically generated downloadable tax report for tax reporting, useful for investors from Australia.


When it comes to the fees on fiat currencies, AUD deposits and withdrawals incur 0 fees with a daily limit of up to 100,000 AUD and free withdrawals.

On crypto, there is a 0.6% trading fee, with high volume discounts available, no trading limits, and spreads starting at 0.45%.

Cryptocurrency deposits and withdrawals incur a standard network mining fee, however, there are no additional Swyftx charges.

Given the fact that Swyftx has a large liquidity pool due to its global partners, it offers lower spreads, averaging 1.7% for all currencies and 0.45% for Bitcoin, compared to the 4.0% average spread offered by competitors.

Pros and cons


  • Good value for Australian investors due to its minimal spreads and low fees.
  • Advanced trading features, including demo trading, portfolio tracking, and recurring trades.
  • Trade more than 270 cryptocurrencies through the platform.
  • Low wait-time for customer support.
  • Supports multiple payment methods, including debit and credit cards.
  • Makes it easy to declare profits on crypto trades to the ATO.


  • High forex fees to exchange currencies for AUD.

On Swyftx's website



  • Receive $10 worth of BTC when you sign up and verify your account.
  • Trade over 260 assets on Swyftx including Bitcoin, Ethereum, Ripple and Litecoin as well as DeFi coins such as UniCoin.
  • Deposit or withdraw funds from your account using several payment methods (PayID, OSKI, POLi or bank transfers).
  • New to Crypto? Try Swyftx's demo mode, it allows you to mock trade with no financial risk while you learn the ropes of crypto trading.


There are several alternatives to Swyftx that cater to the Australian investor, which you can compare here. The following are some of the most notable options available.

  • Digital Surge. Based in Brisbane, Digital Surge offers a trustworthy and transparent cryptocurrency exchange specifically tailored towards users in Australia. One of the best user-experiences around.
  • Independent Reserve. This is yet another cryptocurrency exchange built in 2013 built with the mission of becoming Australia’s most secure as well as easiest way to buy Bitcoin and other cryptocurrencies.
  • eToro. While it's primarily known for being the world’s leading social trading platform, eToro also offers commission-free trades of cryptocurrencies.
  • Binance. Binance is one of the world’s largest cryptocurrency exchanges based on daily trade volume. It offers a lot of educational content for newcomer traders as well as access to over 300 cryptocurrencies along with one of the lowest fee structures.
  • CoinSpot. CoinSpot is another Australian cryptocurrency exchange that offers professional trading features and access to more than 300 cryptocurrencies where you can use lock-in pricing. CoinSpot also provides an excellent level of customer support.
  • Kraken. While Kraken is a U.S.-based cryptocurrency exchange, Australian citizens have access to it, and it has some of the best customer support and gives you the option to deposit AUD and the usage of charting tools.
  • Bittrex. Bittrex is a U.S.-based cryptocurrency exchange offering a flat fee of 0.25% per trade. Its unique system allows you to earn credits and use them to execute zero-fee trades as well as providing access to over 350 coins. It even offers its own Bittrex credit card.
  • CoinJar. This is a cryptocurrency exchange that has an excellent desktop and mobile application and allows you to buy and sell cryptocurrencies through the usage of fiat currencies as well. Offers a virtual and physical debit card.
  • BTC Markets. Specifically tailored to an Australian audience with low trading fees, staking, SMSF, and tax reporting.
  • Coinbase. Coinbase is a secure cryptocurrency exchange platform that allows users to buy, sell or store cryptocurrencies.


See how Swyftx compares against these individual exchanges.


Is there a demo account?

Swyftx has a demo mode that allows you to mock trade, stop and limit orders, make card deposits, track your portfolio and even see what two-factor authentication and biometric login feel like. This means that you are fully able to experience everything that Swyftx offers you without the need to deposit your own funds or actually purchasing cryptocurrencies.

Is Swyftx insured?

Although Swyftx is a licensed and regulated trading platform that is registered with the AUSTRAC, assets held on Swyftx are not insured.

Do I need my own crypto wallet for Swyftx?

Swyftx provides its users with wallets for all of the cryptocurrency assets on their platform. They also use various internal wallet systems to help you maintain your cryptocurrency safely and securely. This means that you are not required to have your own cryptocurrency wallet, to begin with, so you can use just the exchange’s built-in wallet.

How do I fund a Swyftx account?

Making a deposit at Swyftx is simple. Here is what you need to do:

  1. From your dashboard, go to the quick deposit option, where you can deposit using AUD, BTC, ETH, XRP, and so on.
  2. If you want to deposit with AUD, click on Trade, then Deposit, and click on Australian Dollars.

Note: You can make deposits using POLi, PayID, OSKO Transfer, and Bank Transfer. All of these methods are instantaneous except for the Bank Transfer method.

How do I withdraw crypto from Swyftx?

Making a withdrawal at Swyftx is just as simple, here is what you need to do:

  1. From your main dashboard, you will have a withdrawal option, here, you can enter a new withdrawal address.
  2. Once you add it, you will see an Action Verification pop-up, where you will receive an SMS with a 6-digit code that you will need to enter.
  3. Once you are verified, go back to the withdrawal AUD tab, enter the withdrawal amount by clicking on the blue hand icon on the right side, state your reason for your withdrawal and click on withdraw.


Swyftx is a cryptocurrency exchange designed for Australian users, with AUD being the main currency. It offers low trading fees, robust trading features, and an excellent mobile application. With live chat and an integrated license and tax system, Swyftx is ideal for Australians that want to trade without giving up too much in fees and spreads or worrying about the logistics or tax implications behind their transactions when they make withdrawals.

On Swyftx's website

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