Best Alternatives To Swyftx In 2022

Published May 4, 2022Updated: Aug 2, 2022
Aaron Seng
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Swyftx is one of the best crypto exchanges in Australia, and for good reason. Since its establishment in 2019, the cryptocurrency platform has burst onto the Australian scene and earned a user base of more than 550,000 investors and traders. Swyftx offers an outstanding user experience, low trading fees, and a suite of crypto features that caters to a wide audience.

Whilst Swyftx executes its products and services extremely well to the mass market and is one of the best places to buy altcoins, there are some services and features that are a bit generic compared to other Australian exchanges. Swyftx may not be the right exchange for you depending on your crypto investing and trading needs.

In this review, we found suitable Swyftx alternatives that can offer you similar services and better value for money.

Best Swyftx Alternatives To Use In 2022

Compared to Swyftx, these Australian exchanges either offer unique features or similar features that come with better benefits.

Similar Cryptocurrency Platforms To Swyftx

We have reviewed over 20 Australian-based cryptocurrency platforms and have selected the below platforms as the best alternatives to Swyftx.

ExchangeAssetsTrading FeesOur RatingLearn morePromotion
Digital Surge LogoDigital Surge300+0.5%
Visit Digital SurgeDigital Surge ReviewNone available at this time
Coinspot LogoCoinSpot330+1%
Visit CoinSpotCoinSpot ReviewNone available at this time
ftx australia
FTX Australia
2640.02% (maker) and 0.07% (taker)
Visit FTX AustraliaFTX Australia ReviewNone available at this time
independent reserveIndependent Reserve300.5%
Visit Independen...Independent Reserve ReviewNone available at this time
Visit eToroeToro ReviewNone available at this time
crypto.comCrypto.com250+0.4% (maker) and 0.4% (taker)
Visit ReviewNone available at this time

The Best Alternatives To Swyftx

1. Digital Surge


Digital Surge is our top choice of crypto platform for beginners. If you're just starting out and looking to buy your first digital currencies as a long-term investment then Digital Surge is the ideal vehicle to achieve that.

Compared to Swyftx, the Digital Surge platform is equally easy to navigate and use. Whilst fundamentally different in its design, the dashboard and interface are clean, modern as well as visually pleasing, and intuitive which makes for an enjoyable experience. On top of this, its iOS and Android compatible mobile apps also share the simplicity and design of the desktop version where all the features can be accessed. If you want to be able to purchase crypto with AUD and access your portfolio on the go, then the Digital Surge apps will be highly appealing.

After you complete the streamlined account setup and ID verification procedures, you can fund your account with Australian Dollars (AUD) via bank transfer (OSKO), PayID, or POLi. The only downside to Digital Surge is that AUD deposits via credit cards are not supported.

digital surge dashboard
The Digital Surge dashboard is simple in its design yet highly functional.

Trading fees are an important consideration for beginner and experienced crypto investors alike. Simply put, Digital Surge is slightly cheaper than Swyftx where you will save 0.1% in fees for each buy and sell trade you make, Digital Surge charges a fee of 0.5% for all buy and sell trades. Swyftx charges a flat trading fee of 0.6% which is slightly more expensive.

To make Digital Surge more attractive to the money-savvy, discounts can be obtained from its tiered fee structure and the platform claims to be able to provide tight spreads.

digital surge fee comparison
Digital Surge's fees and spreads.

Overall, Digital Surge is a highly attractive Swyftx alternative for beginner and experienced crypto investors who want value for money. The platform offers all the key features that beginners look for including cheap trading fees, a no-fuss and easy-to-use interface, as well as a wide range of altcoins to choose from.

For more information on the differences between Swyftx and Digital Surge, read this article next.

2. CoinSpot


Founded in 2013, CoinSpot is one of the oldest Australian crypto exchanges and has served over 1 million customers across Australia. The success of CoinSpot is primarily built upon its strong reputation for being a trustworthy and reputable platform where AUD can be used to obtain Bitcoin (BTC) and over 345 altcoins such as Ethereum (ETH), Dogecoin (DOGE), Shiba Inu (SHIB), XRIP (Ripple), Cardano (ADA), and many more.

coinspot australia

Whilst CoinSpot has gained a lot of public exposure by partnering with organizations such as the Western Bulldogs Football Club, its early success rode on the back of its stellar security framework and track record. CoinSpot implements all the industry-standard security controls and measures that you would expect of an AUSTRAC registered platform, however, it takes consumer confidence one step further.

CoinSpot is one of the very few Aussie platforms that have obtained ISO 27001 certification. This means that its information management system is designed to eliminate threats including unauthorized access leading to the loss, theft, or destruction of digital assets. Simply put, CoinSpot offers one of the highest levels of wallet security in Australia.

CoinSpot is a popular crypto trading platform among beginner and experienced investors. The platform features a simple but highly functional interface with a straightforward account and portfolio management process. AUD deposit methods are similar to Swyftx which includes bank transfer (OSKO), POLi, PayID, and BPAY.

Other notable features that make CoinSpot a suitable alternative to Swyftx include:

  • One of the largest ranges of cryptocurrencies (over 340) to choose from. Swyftx offers over 310 so you still have a similar selection of altcoins.
  • A limited selection of NFTs as well as crypto bundles to quickly diversify your portfolio.
  • An Over-The-Counter (OTC) desk that will suit high-net traders conducting transactions over $50,000. Cheaper fees of 0.1% will be obtained.
  • Support for Self-Managed Super Fund (SMSF) investors, however, tax reporting tools are not available.

If you're an active crypto trader, then you won't be left out. CoinSpot is essentially a straight swap with Swyftx where you have access to the TradingView charts and its advanced analytical tools and indicators. If you are a beginner trader, there are no orders to confuse or distract you, however, this means that you can't assess the trading volume or spreads for trading pairs.

coinspot charting interface
The CoinSpot charting interface.

For more information on how CoinSpot differs from Swyftx, read this article next.

3. FTX Australia


FTX has quickly proven itself as a world leader in the trading of cryptocurrency derivatives. In terms of traffic, trading volume, and liquidity, FTX is currently ranked #3 in the world. With FTX Australia entering the Australian crypto market, Aussies now have a seriously good option for leveraged token and futures trading.

FTX Australia has access to significant liquidity and offers you the ability to buy, trade, and sell over 260 digital currencies across a variety of markets including spot, futures, leveraged token, and volatility products. Noting that Swyftx does not offer any derivatives products or services, FTX is an excellent choice of exchange if you want to maximize your potential gains using leveraged tokens.

ftx australia features

In terms of their leveraged token offering, there are more than 130 crypto trading pairs with United States Dollars (USD) and USDT (Tether). Leverage margin can be applied to tokens:

  • Hedge (-1X)
  • Bear (-3X)
  • 0.5X
  • 1X
  • Bull (3X)

The leveraged token trading interface is suitable for both beginner and advanced traders as it is clean, modern, and has a visually intuitive design. Trading pairs and positions can be accessed using the left side panel, with the order books and buying panel positioned on the right. The TradingView charting is centrally positioned along with all its advanced indicators, drawing tools, and pattern overlays.

Whilst the FTX Australia trading interface to serious derivatives platforms such as KuCoin and Bybit, the design still retains a lot of simplicity and is supported by tooltips, walkthroughs, and the FTX help center.

ftx leveraged token trading interface
FTX Australia's leveraged token trading interface.

Due to the high trading volumes on FTX, placing market orders for leveraged tokens will attract lower fees than Swyftx. Swyftx offers a flat fee of 0.6%, whilst FTX follows a tiered maker and taker model where fees start at 0.02% (maker) and 0.07% taker).

There are disadvantages with FTX that should be considered such as the lack of crypto pairs against Australian Dollars. Since AUD can only be deposited via Visa and Mastercard and AUD funds will be automatically converted to USD which incurs a foreign conversion fee of around 3%.

4. Independent Reserve


Founded in 2013, Independent Reserve has been around longer than Swyftx. Since its establishment, it has served over 200,000 individuals and holds over $1 billion worth of digital assets. The platform has proved itself to be a no-fuss vehicle for beginners to access 27 cryptocurrencies including BTC, ETH, USDT, AAVE, BAT, DOT, MATIC, and many more.

Both platforms provide support for SMSF investors acquires digital assets for their portfolios, however, Independent Reserve is the king in this department. The platform has a strong track record and currently holds over 8,000 SMSF accounts. What makes it stand out is its premium SMSF features that provide you with a greater level of control and flexibility in building your retirement fund.

independent reserve smsf crypto
Independent Reserve's SMSF offering.

The features that make Independent Reserve first-choice amongst SMSF investors include:

  • An OTC desk where you can potentially negotiate a better fee rate for transactions over $50,000.
  • A safe and robust wallet protected by a best-in-class security framework.
  • The ability to apply Dollar-Cost-Averaging (DCA) and advanced limit orders to your trades. Instead of buying crypto at the given market price on a particular day, DCA and limit orders provide you with a great deal of flexibility and control.

Independent Reserve only offers 27 digital currencies and assets to choose from, however, this should not bother the SMSF investor. Generally, the most popular cryptocurrencies that are acquired as part of retirement portfolios are the ones that have good track records of increasing in value over the long term. Specifically, these are assets that have high market capitalizations such as Bitcoin and Ethereum. More exotic coins and tokens are generally not preferred given their volatility and low trading volumes.

5. eToro


eToro is a multi-asset social trading platform that offers cryptocurrency, stock, and CFD trading to people all over the world including Australia. Since its inception in 2007, eToro has expanded across the world and has reached over 20 million users. eToro is now a global leader in the social trading market where the portfolios of other eToro traders can be viewed and copied to your portfolio. Swyftx does not offer this beginner-popular feature.

Australian investors and traders have access to the social trading features of eToro. This form of social trading is not offered by most exchanges available to Australians and is a unique market differentiator for beginner investors who want to mirror the performance of successful traders.

eToro provides two options which are “Copy People”, or Invest in a “Copy Portfolio”. The Copy People function allows you to view the portfolios held by top-performing traders. You can sort through portfolios using the filters provided that may be appetizing to their investment objectives and needs. Portfolios are organized into the following categories:

  • Editor’s choice.
  • Most copied.
  • Trending.
  • Long-term stock investors.
  • Long-short investors.
  • Multi-strategy investors.
etoro social copy portfolio trading

The AUSTRAC registered and ASIC licensed crypto platform is targeted toward the beginner and novice audience. As such, the platform oozes a high level of user-friendly with the dashboard and trading interface neatly laid out and easily identifiable.

The downside is that eToro is fairly expensive to use compared to the other exchanges on this list. eToro charges high a trading fee of 1% that will apply to all crypto buy and sell transactions. Additionally, since the primary fiat currency is USD, AUD that you deposit will automatically be converted and you will incur a currency conversion fee.



The brand consists of the mobile app and the separate Exchange. Unlike other global exchanges, all of's features except derivatives trading can be accessed on your mobile device. The Exchange provides access to excellent spot, perpetual, and futures trading, app

Whilst the Swyftx mobile is entirely useable, the mobile app is a world-class vehicle for making fiat-to-crypto transactions. Once you have linked your bank account or credit/debit card, you have instant access to over 250 digital assets such as BTC, ETH, LINK, and ADA that can be bought at their true cost. Its sleek and smart design allows you to efficiently track your portfolio and acts as a portal to other services such as Earn, Pay, NFTs, and DeFi Swap.

If you're an experienced investor who wants to do more with your crypto than just holding it, then the app is a strong option for everyday utility and application. The seamless utility the app provides is a key reason why it is one of the best mobile apps to buy crypto with fiat currencies.

More information on how they compare can be found in our Swyftx vs review.

Frequently Asked Questions

How Do I Claim Free Bitcoin From Swyftx?

MoreCrypto has partnered with Swyftx to provide its new customers with $10 free Bitcoin by using our Swyftx referral link. Once you have verified your account, the free Bitcoin will be seen in your wallet. The promotional offer can only be redeemed once per new account.

How Do I Get A CoinSpot Referral Code?

If you're looking for a CoinSpot referral code that also provides $10 free Bitcoin, all you need to do is create a new account by using our CoinSpot referral code. Once you have verified your account, the free Bitcoin will be seen in your wallet and no deposit is required. The promotional offer can only be redeemed once per new account.

Aaron Seng
Aaron Seng
Aaron Seng is the Founder of His journey in the world of cryptocurrency began in 2016 where he was an early investor in Bitcoin and Ethereum. His initial interests revolved around blockchain technologies and their application in a variety of industries and markets. Over the years, he has watched the slow and steady progression and growth of digital currencies around the world.
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All content on is provided solely for informational purposes. This information should not be misinterpreted as an endorsement to buy, trade or sell a cryptocurrency or any specific product or service. The opinions expressed in this blog do not constitute investment advice and independent financial advice should be sought where appropriate.