Swyftx Review 2024

Swyftx is an Australian cryptocurrency exchange offering 330+ products, with an impressive $27+ billion in trading volume. The brand is trusted by 600,000+ customers thanks to its competitive fee structure, ISO 27001 security protection and feature-rich trading app.

Swyftx is broker that provides access to Cryptos. Surprisingly, Swyftx does not support either of the enormously popular MetaTrader 4 and MetaTrader 5 platforms.

In terms of features offered to traders, Swyftx has Demo Accounts but is missing Islamic Accounts, Social Trading, Signals and Auto Trading.

Cryptocurrency traders will have lots of options at Swyftx, with 275 different coins to trade: ZRX, 1INCH, AAVE, ACM, ADX, ELF, AERGO, DLT, AION, AST, AKRO, ALGO, TLM, ALPHA, AMB, FORTH, ANKR, APPC, ANT, ARDR, ARK, ARPA, ASR, AUDIO, REP, AUTO, AVAX, AXS, BADGER, BAL, BNT, BAND, BAT, BEL, BNB, BUSD, BTC, BCH, BCD, BTG, BTS, BTT, CDT, BLZ, AUCTION, BRD, BTCST, BZRX, ADA, CTSI, CELR, CELO, CTK, LINK, CHZ, CHR, CND, CVC, COCOS, COMP, CFX, COS, CTXC, ATOM, COTI, CRV, DASH, MANA, DCR, DEGO, DENT, YFII, DIA, DGB, DNT, DODO, DOGE, DREP, DUSK, EPS, EGLD, ENJ, EOS, ETH, ETC, ERN, EVX, FTM, BAR, FET, FIO, FLM, FLOW, FOR, FRONT, FTT, FUN, GVT, GTO, GTC, GO, GLM, GRS, GXS, HARD, ONE, HBAR, HNT, HIVE, HOT, ZEN, ICX, IDEX, RLC, INJ, ICP, IOST, IOTA, IOTX, IRIS, JST, JUV, KAVA, KEEP, KMD, KSM, KNC, LINA, LSK, LTC, LIT, LPT, LOOM, LRC, LTO, MFT, MKR, OM, MASK, MDX, MDT, MTL, MIR, MITH, MDA, MTH, MBL, ALICE, NANO, NAV, NEAR, NEBL, NAS, XEM, NEO, GAS, CKB, NBS, NXS, NKN, NU, NULS, NMR, ROSE, OAX, OCEAN, OMG, ONT, ONG, OXT, OGN, ORN, CAKE, PSG, PAXG, PAX, PERL, PERP, PHA, PNT, POA, DOT, POLS, MATIC, POLY, PPT, POWR, PUNDIX, QLC, QTUM, QNT, QSP, QKC, QUICK, RDN, RAMP, RVN, REEF, REN, REQ, RSR, XRP, RIF, SCRT, KEY, SRM, SHIB, SC, AGIX, SKL, SKY, SOL, SNM, STX, FIS, STPT, SNT, STEEM, XLM, STORJ, STMX, DATA, SUN, SUPER, SUSHI, SXP, SNX, SYS, WABI, TRB, LUNA, TVK, XTC, GRT, SAND, THETA, TFUEL, RUNE, TCT, TOMO, TORN, AVA, TRX, TROY, TRU, TUSD, TWT, UMA, UNFI, UNI, USDC, USDT, UTK, VET, XVS, XVG, VTHO, VIA, VIB, VIDT, VITE, VGX, WTC, WAN, WAVES, WRX, WPR, WING, WIN, WBTC, WNXM, YFI, YOYO, ZEC and ZIL.

Swyftx is regulated, but not by the FCA here in the UK. While this is not necessarily an issue, very careful traders might want the extra safety of using an FCA-regulated broker.

Swyftx Summary

Swyftx is an Australian cryptocurrency exchange offering 330+ products, with an impressive $27+ billion in trading volume. The brand is trusted by 600,000+ customers thanks to its competitive fee structure, ISO 27001 security protection and feature-rich trading app.

Swyftx is #79 in our rankings of crypto brokers.

Ratings

30%
Trust
16%
Instruments
14%
Features
Pros
  • Over 300 cryptocurrencies available, including popular coins like Bitcoin and Ethereum, as well as other altcoins
  • User-friendly mobile platform with real-time performance tracking, demo mode and a fully customizable dashboard
  • Regulated by the Australian Transaction Reports and Analysis Centre (AUSTRAC) as a digital currency exchange provider
  • Several fiat funding methods accepted in AUD or NZD with no deposit charges
  • An option to set recurring deposits for automated cryptocurrency investments
  • ISO 27001 certification, 2FA/biometric logins and cold storage solutions
  • Transparent fee structure with spreads as low as 0.41%
  • You do not need to upload documents or photos
Cons
  • Poor exchange rates may impact your deposits negatively if you don't transfer in AUD or NZD
  • Swyftx is currently only available to customers in Australia and New Zealand
  • You need to have a call with an operator to be able to withdraw your funds
  • Swyftx does not allow users to deposit or withdraw money using PayPal
  • Live chat response times are slower than many alternatives
BonusNone
InstrumentsCryptos
Demo Account ✓ Yes
Min. Deposit $30
Min. Trade$1
Regulated ByAUSTRAC
MetaTrader 4✗
MetaTrader 5✗
cTrader✗
DMA Account✗
ECN Account✗
Mobile Apps iOS & Android
Auto Trading ✗
Trade Signals ✗
Social Trading✗
Copy Trading✗
Islamic Account ✗

Cryptocurrency Trading

Access a decent line-up of 330+ cryptocurrencies with low fees. Invest in popular token like Bitcoin, Ethereum, Tether and Ripple which can be bought, sold, transferred or stored on the broker's proprietary desktop and mobile platforms.

SpreadVariable
CoinsZRX, 1INCH, AAVE, ACM, ADX, ELF, AERGO, DLT, AION, AST, AKRO, ALGO, TLM, ALPHA, AMB, FORTH, ANKR, APPC, ANT, ARDR, ARK, ARPA, ASR, AUDIO, REP, AUTO, AVAX, AXS, BADGER, BAL, BNT, BAND, BAT, BEL, BNB, BUSD, BTC, BCH, BCD, BTG, BTS, BTT, CDT, BLZ, AUCTION, BRD, BTCST, BZRX, ADA, CTSI, CELR, CELO, CTK, LINK, CHZ, CHR, CND, CVC, COCOS, COMP, CFX, COS, CTXC, ATOM, COTI, CRV, DASH, MANA, DCR, DEGO, DENT, YFII, DIA, DGB, DNT, DODO, DOGE, DREP, DUSK, EPS, EGLD, ENJ, EOS, ETH, ETC, ERN, EVX, FTM, BAR, FET, FIO, FLM, FLOW, FOR, FRONT, FTT, FUN, GVT, GTO, GTC, GO, GLM, GRS, GXS, HARD, ONE, HBAR, HNT, HIVE, HOT, ZEN, ICX, IDEX, RLC, INJ, ICP, IOST, IOTA, IOTX, IRIS, JST, JUV, KAVA, KEEP, KMD, KSM, KNC, LINA, LSK, LTC, LIT, LPT, LOOM, LRC, LTO, MFT, MKR, OM, MASK, MDX, MDT, MTL, MIR, MITH, MDA, MTH, MBL, ALICE, NANO, NAV, NEAR, NEBL, NAS, XEM, NEO, GAS, CKB, NBS, NXS, NKN, NU, NULS, NMR, ROSE, OAX, OCEAN, OMG, ONT, ONG, OXT, OGN, ORN, CAKE, PSG, PAXG, PAX, PERL, PERP, PHA, PNT, POA, DOT, POLS, MATIC, POLY, PPT, POWR, PUNDIX, QLC, QTUM, QNT, QSP, QKC, QUICK, RDN, RAMP, RVN, REEF, REN, REQ, RSR, XRP, RIF, SCRT, KEY, SRM, SHIB, SC, AGIX, SKL, SKY, SOL, SNM, STX, FIS, STPT, SNT, STEEM, XLM, STORJ, STMX, DATA, SUN, SUPER, SUSHI, SXP, SNX, SYS, WABI, TRB, LUNA, TVK, XTC, GRT, SAND, THETA, TFUEL, RUNE, TCT, TOMO, TORN, AVA, TRX, TROY, TRU, TUSD, TWT, UMA, UNFI, UNI, USDC, USDT, UTK, VET, XVS, XVG, VTHO, VIA, VIB, VIDT, VITE, VGX, WTC, WAN, WAVES, WRX, WPR, WING, WIN, WBTC, WNXM, YFI, YOYO, ZEC, ZIL
Risk Warning – Your capital is at risk

FAQ

Is Swyftx Safe?

In our review we gave Swyftx a low trust score of 30%, which means that traders should try things out before they deposit any larger amounts. One of the main negative factors in this low score is that Swyftx is not FCA regulated. Extra careful traders might want to find an alternative in our top list of UK brokers.

Does Swyftx Accept PayPal?

No, Swyftx does not accept PayPal payments. See our list of brokers that accept PayPal for alternatives.

Is Swyftx Halal?

Probably not, as Swyftx does not offer an Islamic trading account as far as we know. For alternatives, please see the list of halal brokers.

Is Swyftx Regulated in the UK?

No, Swyftx is unfortunately not regulated by the FCA here in the UK. See our list of FCA regulated brokers for safer options

Is Swyftx Regulated?

Yes, Swyftx is regulated by AUSTRAC.

The fact that Swyftx is not regulated by our own FCA will be a concern to the most careful traders. See our list of FCA regulated brokers for alternatives.

Top 3 Swyftx Alternatives

These brokers are the most similar to Swyftx:

  1. Pionex - Pionex is a crypto trading platform that specializes in trading robots, offering a variety of ready made bots and strategies to traders as well as integrated AI to help customize a strategy or come up with your own. These can be used on spot crypto markets as well as crypto futures.
  2. Swissquote - Swissquote is a Switzerland-based bank and broker that offers online trading and investing. The company has a high safety score and is listed on the Swiss stock exchange. The firm offers a huge range of products, from stocks, ETFs, bonds and futures to 400+ forex and CFD assets. Hundreds of thousands of traders have opened an account with the multi-regulated brokerage. Clients can get started in three easy steps while 24/7 customer support is available to assist new users.
  3. Interactive Brokers - Interactive Brokers (IBKR) is a premier brokerage, providing access to 150 markets in 33 countries, along with a suite of comprehensive investment services. With over 40 years of experience, this Nasdaq-listed firm adheres to stringent regulations by the SEC, FCA, CIRO, and SFC, amongst others, and is one of the most trusted brokers for trading around the globe.

Swyftx Feature Comparison

Swyftx Compared With Similar Brokers
Swyftx Pionex Swissquote Interactive Brokers
Rating 2.6 3.4 4 4.3
Markets Cryptos Cryptos Forex, CFDs, Indices, Stocks, ETFs, Bonds, Options, Futures, Cryptos (location dependent) Stocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, CFDs, Cryptocurrencies
Minimum Deposit $30 $0 $1000 $0
Minimum Trade $1 0.1 USDT 0.01 Lots $100
Demo Account Yes No Yes Yes
Regulators AUSTRAC FinCEN FCA, FINMA, DFSA, SFC, AFM FCA, SEC, FINRA, CFTC, CBI, CIRO, SFC, MAS, MNB, FINMA, AFM
Bonus - - - -
Education No No No Yes
Platforms - - MT4, MT5 -
Leverage - - 1:30 1:50
Visit
Review Swyftx
Review		 Pionex
Review		 Swissquote
Review		 Interactive Brokers
Review

Trading Instruments Comparison

Comparison of Swyftx Trading Instruments
Swyftx Pionex Swissquote Interactive Brokers
CFD No No Yes Yes
Forex No No Yes Yes
Stocks No No Yes Yes
Crypto Yes Yes No Yes
Commodities No No Yes Yes
Oil No No Yes No
Gold No No Yes Yes
Copper No No No No
Silver No No Yes No
Corn No No No No
Futures No No Yes Yes
Options No No Yes Yes
ETFs No No Yes Yes
Bonds No No Yes Yes
Warrants No No No Yes
Spreadbetting No No No No
Volatility Index No No No No

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Swyftx is an Australian cryptocurrency exchange offering 330+ products, with an impressive $27+ billion in trading volume. The brand is trusted by 600,000+ customers thanks to its competitive fee structure, ISO 27001 security protection and feature-rich trading app.