At a Glance
The MPF Quality Score, broken down
Swyftx scores 96 on the MPF Quality Score. We do not hand out a number on a hunch, so here is exactly how it is built across the five weighted pillars. See how we calculate this →
- ✓ Fees & value Free AUD deposits and withdrawals, and volume-tiered trading fees from 0.6% down to 0.1%. Docked for a spread wider than the cheapest rivals. 27/30
- ✓ Security & custody ISO 27001:2022 certified, customer funds held 1:1 in full reserve, no lending of customer assets, regular penetration testing, and no breach on record. 25/25
- ✓ Product, liquidity & features Demo mode, Learn & Earn, recurring buys, bundles, 417 coins and a top-rated app. Docked because there is no margin or futures. 19/20
- ✓ Track record & reputation Operating since 2018 with more than one million customers, and strong, verified reviews across multiple independent platforms. 15/15
- ✓ Regulation & transparency AUSTRAC-registered digital currency exchange, and holds AFSL 568543 (covering its derivatives and payment services, not spot crypto). 10/10
Verified business details
Before we score a platform we confirm who is actually behind it. Here is what the public registers say about Swyftx.
Business identity confirmed against the ABN Lookup register (abr.business.gov.au) and ASIC's professional registers. The AFSL covers Swyftx's derivatives and payment services and does not extend to spot crypto trading.
Reputation across the web
We do not lean on a single star rating. We cross-check Swyftx's reputation across the major independent platforms, so one cherry-picked score cannot tell the whole story. Figures below were checked on 15 July 2026 and move daily.
Swyftx rates consistently well on Trustpilot, ProductReview and the Apple App Store (4.4 to 4.6 across more than 16,000 combined reviews). The Google Play rating is the clear outlier at 3.9, which is worth weighing if you are an Android user. That kind of cross-source consistency check is part of how we assess a platform's track record.
What is Swyftx?
If you’re based in Australia and looking to dip your toes into crypto, you’ve probably heard of Swyftx. I’ve tried quite a few exchanges, and I keep coming back to Swyftx — and it seems like I’m not alone. It’s got thousands of glowing reviews on Trustpilot, and for good reason.
The platform itself is super easy to use, which is a big plus whether you’re a total newbie or someone who’s been around crypto a while. You can trade 417 different coins, it’s AUSTRAC-registered (so it ticks the regulatory boxes), and fees are reasonable — both trading fees and spreads.
They launched in 2018 and have built up a solid reputation since. You’ll find a mobile app and desktop version that both work smoothly, plus 24/7 live chat support, which comes in handy if you have an issue at 11pm on a Sunday. There’s also a demo account if you want to play around with fake money first to get used to the idea of crypto trading. To top it all off, you receive FREE $20 BTC once you verify your ID, deposit and place a trade, if you use this special link.
My Overall Thoughts on Swyftx
If someone asked me which crypto exchange to use in Australia, Swyftx would be one of the first names out of my mouth — especially for beginners or intermediate traders. Here’s why:
1) Trust Factor Is High
The platform’s well-reviewed (4.4 / 5 on Trustpilot, as of July 2026), plus it has ISO 27001 certification — that’s the international gold standard for data security. They’ve even teamed up with TRM Labs to help spot scams and fraud. I definitely feel like my funds are safe here.
2) It’s Great for Learning
Swyftx actually rewards you with free crypto just for doing short online Learn & Earn courses. I’ve done a couple; they’re quick, easy, and you get a little crypto at the end. Perfect if you’re new and want to learn the ropes without diving into Reddit rabbit holes. Swyftx is also one of the only Australian crypto exchanges with a demo mode for hands-on learning.
3) Good for SMSFs (If You’re Thinking Retirement)
This won’t be for everyone, but if you’re setting up a Self Managed Super Fund to invest in crypto, they can help get that sorted in under a day. It’s a niche thing, but worth knowing.
Now, there are some things Swyftx doesn’t do. If you’re into more advanced features like margin trading, derivatives, or using trading bots, this isn’t the platform for that. But honestly, they’re not trying to be an all-in-one crypto trading powerhouse. They’re more about making crypto easy and accessible for the average Aussie, and they’ve done a great job of it.
Pros and Cons of Swyftx
Here’s the quick snapshot. Every point links to the section where I cover it in detail.
Pros
- Quick sign-up, though ID verification is required before you can deposit
- FREE $20 of BTC once you verify, deposit and trade, with this link
- Buy instantly with AUD — no deposit or withdrawal fees
- Learn and Earn: free crypto for completing short courses
- Over 417 cryptocurrencies to buy, sell or trade
- Low fees of 0.6% and a tight spread
- Android and iOS apps — trade anywhere, any time
- 24/7 live chat support with real humans
- AUSTRAC-registered; ISO 27001-certified security
- All customer funds held 1:1 in full reserve
Cons
- No advanced markets (margin, futures) for experienced traders
- No staking or earn options currently
How Swyftx Compares to Other Australian Exchanges
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| Fiat Currencies | AUD, USD, GBP, EUR, NZD & more | AUD | AUD, NZD | AUD | AUD |
| Cryptocurrencies | BTC, ETH, LTC, XRP, EOS & 432 in total | BTC, ETH, LTC, XRP, BCH, ADA & 480+ in total | BTC, BTG, BCH, ADA, ETH, ETC & 417 in total | BTC, ETH, XRP, BCH, LTC & 400+ more | BTC, ETH, DOGE, DOT, XRP, LINK & 1,000+ more |
| Deposit Methods | Visa/Mastercard, Apple Pay, Google Pay, PayID, Cryptocurrency | PayID, Direct Deposit, Cash, Card, Cryptocurrency | PayID, OSKO, Bank transfer, Credit card, Cryptocurrency | PayID, Bank Transfer, Cryptocurrency | Bank Transfer, PayID, Cryptocurrency |
| Trading Fees | 0.1% for spot, 0.02/0.055% for derivatives | Market order: 0.1%, Instant buy: 1% | 0.6% | 0.1%–0.5% | 0.85% |
| Visit SiteFull Review | Visit SiteFull Review | Visit SiteFull Review | Visit SiteFull Review | Visit SiteFull Review |
What Swyftx Offers
If you’ve been comparing crypto exchanges in Australia, you’ll know there’s no shortage of options out there — and each platform comes with its own set of pros and cons. After using a bunch of them myself, I can say Swyftx stands out in a few areas that actually matter, especially for everyday investors like you and me.
Buy Crypto Instantly with AUD (No Annoying Conversion Fees)
One of the best parts about using Swyftx? You can buy crypto directly in Aussie dollars. Sounds simple, but trust me, this saves you heaps of hassle (and money). A lot of international exchanges force you to convert AUD to USD first — and between poor conversion rates and extra fees, it adds up fast.
With Swyftx, you can skip all that. Just deposit using PayID, OSKO, bank transfer, even a card if you want — and there are zero deposit or withdrawal fees. Doesn’t matter which method you choose. That means more of your money goes into crypto, instead of getting chewed up by fees before you even start.
Learn and Earn – Get Paid to Get Smarter
I really like this next one. Swyftx is big on crypto education, and they actually pay you in crypto just for doing a few short courses. It’s called “Learn and Earn”, and it’s the only Aussie exchange doing anything like this right now.
I gave it a go myself — the courses are bite-sized and genuinely beginner-friendly. I wrapped up my first one in under 15 minutes. At the end, you take a little multiple-choice quiz, and if you score at least 80%, you get $5 FREE BTC. If you don’t pass, no biggie — you can retry the next day. It’s a great way to learn the basics without having to dive into complicated Reddit threads or YouTube rabbit holes.
Clean, Customisable Interface (With Demo Mode)
Even if you’ve never traded crypto before, Swyftx won’t make you feel out of your depth. The layout is clean and modern — no confusing menus or information overload. And if you just want to test the waters before jumping in with real money, they’ve got a Demo Mode where you can practise trading with fake funds. For a full walkthrough, see our guide to Swyftx Demo Mode.
But it’s not just for beginners. More experienced users will appreciate that you can customise your dashboard to show only what matters to you — prices, portfolio balance, watchlists, whatever you like. I’ve tweaked mine to give me a quick snapshot of the coins I care about most.
Recurring Buys & Crypto Bundles (Set It & Forget It)
If you’re the type of person who likes to automate things (like I do), Swyftx has a couple of handy features that make life easier — Recurring Orders and Bundles.
Recurring Orders let you automatically invest in crypto on a schedule — say, $50 every week into Bitcoin. This kind of dollar-cost averaging (DCA) strategy is great if you don’t want to worry about timing the market (which, let’s be honest, most of us are pretty bad at).
Then there are Bundles — basically pre-packaged groups of coins you can invest in with one click. There are nine bundles to choose from, but I’m a fan of the “Top 10 by Market Cap” one. It splits your investment evenly across the ten biggest coins, so you’re not putting all your eggs in one basket.
Huge Range of Cryptos (417 Coins and Counting)
Swyftx supports 417 cryptocurrencies — which is a lot, especially for an Aussie platform. You’ve got all the big names like Bitcoin, Ethereum, and XRP, but they also offer a ton of altcoins. Some of them you might not have heard of yet, but that’s part of the appeal.
Even if you’re only planning to stick to the main coins for now, it’s handy to have that variety down the line. If you ever want to try your luck with a newer or niche project, you won’t need to sign up to another platform just to access it.
Proper 24/7 Live Chat Support (With Real People)
Customer support is one of those things you don’t think about until something goes wrong — and then you really need it. I’ve tested Swyftx’s support a few times, and I have to say, it’s genuinely solid.
They’ve got 24/7 live chat, which is rare enough in the crypto space. You’ll start by chatting with a bot (which actually answers a bunch of basic stuff), and if that doesn’t cut it, you can get through to a real person. When I tried it, I was connected in about 11 minutes, and the support rep knew their stuff. No canned responses — just straight, helpful answers. I’d rate the experience a strong 9.5/10 in my real-world test, and you can see how I scored this here.
Mobile App for Android & iOS (Trade On the Go)
The Swyftx app is one of the better ones I’ve used. It doesn’t just let you check prices — you can do everything you can on the desktop version: buy, sell, trade, deposit, withdraw, even play around in Demo Mode. It’s intuitive and runs smoothly, which makes it easy to keep an eye on your portfolio during the day — whether you’re at work, on the couch, or halfway through a long commute.
Security First
Let’s be honest, the crypto world can feel pretty sketchy at times — especially after big exchange collapses like FTX. That’s why security is a huge deal for me. Swyftx takes it seriously. They’ve got things like session expiry, biometric logins, two-factor authentication (which they encourage), breached password detection, and regular penetration testing. They also work with third-party security auditors to stay on top of vulnerabilities.
On top of all that, they’re ISO 27001 certified — which is basically the highest international standard for data security. Plus, they hold all customer funds 1:1, so everything is in full reserve. If you want, you can even move your crypto into a self-custody wallet for extra peace of mind.
Be precise about what the regulation covers. Swyftx is registered with AUSTRAC, which is an anti-money-laundering requirement: it obliges Swyftx to verify your identity and report suspicious transactions. It does not license Swyftx to provide financial services, does not vet how it holds your money, and is not a guarantee against loss. Swyftx was granted an Australian financial services licence (AFSL 568543) in July 2026, but that licence does not cover spot crypto trading.
There is also no government guarantee on crypto. The $250,000 Financial Claims Scheme covers deposits at Australian banks, and Swyftx itself discloses that it is not an authorised deposit-taking institution and has no Financial Claims Scheme cover. Only keep on any exchange what you need for trading.
A$20 of Free Bitcoin, Double the Standard Bonus
Swyftx's standard refer-a-friend bonus is A$10. Through Marketplace Fairness you get A$20 of Bitcoin, double the usual rate. To qualify you need to sign up through our link, verify your ID, make a deposit and place a trade. The bonus is credited once those steps are complete. Claim the offer here.
What I Don’t Like About Swyftx
Despite all the positives, Swyftx isn’t perfect. Here are a couple of things I don’t love:
No Advanced Trading Features
If you’re a serious trader looking for futures or margin trading, you’ll want to look elsewhere. Swyftx just doesn’t offer those tools. Some top crypto trading platforms that I recommend are Bybit or MEXC.
No Staking or Earn Options
Swyftx used to let you earn interest on your crypto by staking, but they pulled that feature while they wait on clarity from regulators. Bit of a shame, but hopefully it comes back. If you are looking for a crypto exchange to stake your coins, see my guide here.
Fees & Spreads
This is where a lot of users decide whether or not to use a crypto exchange. Here’s the breakdown for Swyftx:
- Deposit Fees: Free — no matter how you fund your account.
- Withdrawal Fees (AUD): Also free.
- Crypto Withdrawals: Just the standard network mining fee, no extra charges from Swyftx.
- Trading Fees: 0.6% at the base tier, falling with 30-day volume. The full ladder:
| 30-day volume | Trading fee |
|---|---|
| Under $100,000 | 0.60% |
| $100,000+ | 0.55% |
| $300,000+ | 0.50% |
| $500,000+ | 0.40% |
| $1,000,000+ | 0.35% |
| $3,000,000+ | 0.30% |
| $6,000,000+ | 0.10% |
For context, most retail investors will never leave the 0.6% tier. That is higher than CoinSpot's 0.1% market order, so Swyftx is not the cheapest way to buy, it is the easiest.
- Spreads: Around 0.51% on average in my testing, which was much lower than competitors CoinSpot and Crypto.com.
Verdict
Swyftx is a top pick if you’re an Aussie getting started with crypto, or even if you’re a bit more experienced but still want a clean, no-fuss platform. The interface is great, the fees are low, and the features (like Learn & Earn or Recurring Buys) make it really beginner-friendly.
Sure, it’s not for hardcore traders — but it doesn’t pretend to be. And the fact that they give you $20 of free Bitcoin when you sign up through our link, verify, deposit and trade? Can’t complain about that. You can see exactly how to claim it in our full Swyftx referral code guide.
Who should look elsewhere: if you want leverage, futures, trading bots or staking, Swyftx does none of those things. And if you are simply buying and holding at the lowest possible cost, CoinSpot’s 0.1% market order undercuts Swyftx’s 0.6% base fee. Swyftx earns its place on ease of use and education, not on being the cheapest.
If you want to compare Swyftx with other Australian crypto exchanges, I actually did a test where I signed up to a few different Aussie exchanges, deposited $100 into each, bought and sold BTC, and tracked exactly how much money I lost to fees and spread. That was a real eye-opener — and Swyftx came out near the top. Worth checking out if you’re weighing your options.
Frequently Asked Questions
Is Swyftx safe and regulated in Australia?
Yes. Swyftx is registered with AUSTRAC and complies with Australia’s KYC/AML requirements. It is also ISO 27001 certified — the international gold standard for information security — and holds all customer funds 1:1 in full reserve. Security features include two-factor authentication, biometric logins, breached password detection and regular third-party penetration testing.
What are Swyftx’s fees?
Swyftx charges a flat 0.6% trading fee, with discounts available based on trading volume. Deposits and AUD withdrawals are free across all methods (PayID, OSKO, bank transfer, credit/debit card). Crypto withdrawals only incur the standard network mining fee. Average spread came in around 0.51% in our testing.
How do I get the A$20 of free Bitcoin?
Sign up through our referral link, verify your ID, make a deposit and place a trade. Once those steps are complete the A$20 of Bitcoin is credited to your account. Swyftx's standard referral bonus is A$10, so this is double the usual rate.
How many cryptocurrencies can I trade on Swyftx?
Swyftx supports 417 cryptocurrencies, including all the major coins like Bitcoin, Ethereum, XRP, Cardano and Litecoin, plus a wide range of altcoins.
Does Swyftx have customer support?
Yes. Swyftx offers 24/7 live chat support. You start with a chatbot for common questions and can escalate to a real human support agent if needed. Average wait time in our testing was around 11 minutes.
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