Why is SwyftX so Expensive? (2021)

Learn why SwyftX can be an expensive cryptocurrency exchange to use when compared to other large trading platforms in Australia.
Why is SwyftX so Expensive? (2021)

Bradley Mills

Editor at Buy Bitcoin Finder
Why is SwyftX so Expensive? (2021)

SwyftX Fees Review

SwyftX are a new cryptocurrency exchange based in Australia that was founded in 2017 in Brisbane, QLD. Their fast growth was driven by the Crypto Australia Facebook group, which was a trading group made by the eventual founder of SwyftX that consisted of over 40,000 Australians.

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SwyftX
Trading Fees 0.6% per trade
Deposit Fees 0.5% per AUD deposit
Year Founded 2017
Headquarters Brisbane, Australia
Deposit Options Bank Transfer, Debit Card or Credit Card, PayID/Osko, Cash and more
Cryptocurrencies 250+ cryptos
Built-In Wallet Image
Device Platforms Web, iOS, Android
AUSTRAC Registered Image

SwyftX Deposit FX Fees

The first fee you encounter on the SwyftX platform are the AUD deposit fees, which cost 0.5% per deposit. SwyftX have an AUD deposit fee because they have to exchange your AUD to USD to be able to trade on their platform.

The evidence of this is highlighted in the image below.

SwyftX Trading Fees

The SwyftX trading fees are a flat 0.6% fee per transaction (buy or sell).

This means that from first deposit to first trade, users are paying 1.1% in fees to Swyftx. You can learn more about SwyftX's fees and charges in our Australian partner's SwyftX Review.

What is a cheaper alternative to SwyftX?

The cheapest instant buy exchange in Australia that offers over 250 different cryptocurrencies is Digital Surge. They do not have any FX swap fees because they do not use US Dollars and only charge 0.5% per transaction.

If you use an exchange like Digital Surge, you only pay 0.5% per trade as opposed to 1.1% per trade on SwyftX


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Total Fees 0.6% - 1.1% 0.5%
Cryptos Available 250 + 250 +
Year Founded 2017 2017
Headquarters Brisbane, Australia Sydney Australia
Deposit Options Bank Transfer, Debit Card, Credit Card or PayID Bank Transfer, PayID or Osko and POLi
Beginner Friendly Image Image
iOS and Android App Image Image
Additional Foreign Exchange Fees Yes No
Website Visit SwyftX Visit Digital Surge
Visit Digital Surge