By using this Site, and further by registering to use our Service, you ("You, Your or Yourself") are agreeing to accept and comply with the terms and conditions of use stated below ("Terms and Conditions"). You should read the entire Terms and Conditions carefully before you use this web site ("Site") or any of the services of this Site. As used herein, "Independent Reserve" refers to the company Independent Reserve SG PTE. LTD, including without limitation thereby, its owners, directors, investors, employees or other related parties. Depending upon context, "Independent Reserve" may also refer to the services, products, Site, content or other materials (collectively, "Materials") provided by Independent Reserve. The Service operated by Independent Reserve allows buyers ("Buyers") and sellers ("Sellers"), to buy, sell and transfer the cryptocurrencies Bitcoin, Ethereum and Ripple (known as “Cryptocurrencies” from herein).

The transfer of these Cryptocurrencies is only supported via the wallet addresses which are visible to you on the "Accounts" page of the Site. These wallet addresses are specific to you and each Cryptocurrency and must be used in accordance with instructions provided to ensure successful transfer. Failure to follow instructions may result in irretrievable loss of Cryptocurrency.

These Terms and Conditions are applicable to Singapore citizens and long term residents only. If you are currently based elsewhere, it is Your responsibility to follow those rules and laws in Your country of residence and/or country from which You access this Site and Services. As long as you agree to and actually comply with these Terms and Conditions, Independent Reserve grants to you a personal, non-exclusive, non-transferable, and limited right to enter and use the Site and the Service. If you do not accept the terms and conditions outlined in this agreement, do not access this site and do not use this service. By opening an account to use the Service ("Account"), You expressly represent and warrant that You have accepted these Terms.

The Monetary Authority of Singapore (MAS) requires us to provide this risk warning to you as a customer of Independent Reserve. Before you pay Independent Reserve any money or DPT, you should be aware of the following.

  1. Independent Reserve is exempted by MAS from holding a licence to provide DPT services. Please note that you may not be able to recover all the money or DPTs you paid to Independent Reserve if Independent Reserve’s business fails.
  2. You should not transact in the DPT if you are not familiar with this DPT. Transacting in DPTs may not be suitable for you if you are not familiar with the technology that DPT services are provided.
  3. You should be aware that the value of DPTs may fluctuate greatly. You should buy DPTs only if you are prepared to accept the risk of losing all of the money you put into such tokens.


The trading of cryptocurrencies involves significant risk. Prices can and do fluctuate on any given day. Due to such price fluctuations, you may increase or lose value in your assets at any given moment. Any currency - crypto or not - may be subject to large swings in value and may even become worthless. There is an inherent risk that losses will occur as a result of buying, selling or trading anything on a market.

Cryptocurrency trading also has special risks not generally shared with conventional currencies or goods or commodities in a market. Unlike most currencies, which are backed by governments or other legal entities, or by commodities such as gold or silver, Cryptocurrencies are a unique kind of digital currency, backed by technology and trust. There is no central bank that can take corrective measures to protect the value of Cryptocurrencies in a crisis or issue more currency. Instead, Cryptocurrencies are an as-yet autonomous and largely unregulated worldwide system of currency firms and individuals.

Traders put their trust in a digital, decentralised and partially anonymous system that relies on peer-to-peer networking and cryptography to maintain its integrity.

Cryptocurrency trading is susceptible to irrational (or rational) bubbles or loss of confidence, which could collapse demand relative to supply. For example, confidence might collapse in Cryptocurrencies because of unexpected changes imposed by the software developers or others, a government crackdown, the creation of superior competing alternative currencies, or a deflationary or inflationary spiral. Confidence might also collapse because of technical problems: if the anonymity of the system is compromised, if money is lost or stolen, or if hackers or governments are able to prevent any transactions from settling.

You agree to indemnify Independent Reserve for any losses incurred as a result of technical failures, hacks, government intervention or any other issue that negatively impacts the underlying blockchain or network of a cryptocurrency listed on Independent Reserve’s markets.

There may be additional risks that we have not foreseen or identified in our Terms and Conditions. You should carefully assess whether your financial situation and tolerance for risk is suitable for buying, selling or trading cryptocurrencies. We use our banking providers in order to receive client moneys and making payments. Our banking providers do not transfer Cryptocurrencies, exchange Cryptocurrencies, or provide any services in connection with Cryptocurrencies.

Limited Rights of Use

Unless otherwise specified, all Materials on this Site are the property of Independent Reserve and are protected by copyright, trademark and other applicable laws. You may view, print and/or download a copy of the Materials from this Site on any single computer solely for your personal, informational, non-commercial use, provided you keep intact all copyright and other proprietary notices. The trademarks, service marks and logos of Independent Reserve and others used in this Site ("Trademarks") are the property of Independent Reserve and their respective owners. The software, text, images, graphics, data, prices, trades, charts, graphs, video and audio used on this Site belong to Independent Reserve. The Trademarks and Material should not be copied, reproduced, modified, republished, uploaded, posted, transmitted, scraped, collected or distributed in any form or by any means, whether manual or automated. The use of any such Materials on any other Site or networked computer environment for any other purpose is strictly prohibited; any such unauthorised use may violate copyright, trademark and other applicable laws and could result in criminal or civil penalties.

Maintaining Your Account

We are vigilant in maintaining the security of our Site and the Service. By registering with us, You agree to provide Independent Reserve with current, accurate, and complete information about Yourself as prompted by the registration process, and to keep such information updated. You further agree that You will not use any Account other than Your own, or access the Account of any other Member at any time, or assist others in obtaining unauthorised access. The creation or use of Accounts without obtaining the prior express permission from Independent Reserve will result in the immediate suspension of all said Accounts, as well as all pending purchase/sale offers. Any attempt to do so or to assist others (Members or otherwise), or the distribution of instructions, software or tools for that purpose, will result in the Accounts of such Members being terminated. Termination is not the exclusive remedy for such a violation, and Independent Reserve may elect to take further action against You. You are also responsible for maintaining the confidentiality of Your Account information, including your password, safeguarding your own cryptocurrencies, and for all activity including Transactions that are posted to Your Account. If there is suspicious activity related to your Account, we may, but are not obligated, to request additional information from You, including authenticating documents, and to freeze any transactions pending our review. You are obligated to comply with these security requests, or accept termination of Your Account. You are required to notify Independent Reserve immediately of any unauthorised use of Your Account or password, or any other breach of security. Any Member who violates these rules may be terminated, and thereafter held liable for losses incurred by Independent Reserve or any user of the Site. Finally, You agree that You will not use the Service to perform criminal activity of any sort, including but not limited to, money laundering, illegal gambling operations, terrorist financing, or malicious hacking.

Independent Reserve is not responsible or liable for any cryptocurrencies once you have transferred them from your account to another wallet or trading provider. You are responsible for ensuring the recipient wallet address is correct prior to submitting any withdrawal transaction. All cryptocurrency transactions are irrevocable once sent and Independent Reserve takes no responsibility for verifying recipient addresses for withdrawals from your account.

It is important for you to take precautions when withdrawing and storing your cryptocurrency, especially when withdrawing to an overseas-based provider. We have education articles on the dangers of withdrawing to overseas providers on our Protect your Account and How to spot a Bitcoin scam pages that you should familiarise yourself with.

FastTrack Terms

By opening a FastTrack account, you agree that the usability of your account is restricted until you have provided all necessary documentation to us to satisfy our AML Policy and complete full user verification. You agree that API access and all withdrawals of AUD, USD, NZD and SGD and cryptocurrency will remain restricted on your account until full user verification has been completed.

If you are unable or unwilling to pass the full user verification process, Independent Reserve reserves the right to cease offering any services to you and close your trading account. If you have any fiat or cryptocurrency on your account when it is closed, any fiat or cryptocurrency will be returned to the source. You may be asked to provide evidence of the source of a deposit to enable Independent Reserve to return your funds to you. Normal fees apply to any required liquidation of cryptocurrency assets or fiat payment to you in line with the Fee Schedule.

Debit Account Balances

If at any time your Independent Reserve account has a debit balance, you agree to pay us:

  • An account overdraft fee determined by us from time to time to cover our reasonable costs and expenses arising from the debit account balance
  • The total debit balance including the account overdraft fee

We may suspend your account at any time and without notice to you if you fail to pay the outstanding debit account balance and account overdraft fees.

If, after a demand is made by Independent Reserve, you have not made payment of the outstanding debit balance, then:

  • You authorise us to sell any cryptocurrency assets on your account to recover the outstanding balance; and
  • You agree to indemnify us against all costs, expenses and losses incurred, including brokerage, GST, overdraft fees and any other fees as a result of not paying the outstanding debit balance

In the event where your overdue account is referred to a collection agency and/or law firm, you will be liable for all costs which would be incurred as if the debt is collected in full, including commission on collection of the additional costs and also including legal demand costs.


You may terminate this agreement with Independent Reserve, and close Your Account at any time, following settlement of any pending transactions. You also agree that Independent Reserve may, by giving notice, in its sole discretion terminate Your access to the Site and to Your Account, including without limitation, our right to: limit, suspend or terminate the service and Members' Accounts, prohibit access to the Site and its content, services and tools, delay or remove hosted content, and take technical and legal steps to keep Members off the Site if we think that they are creating problems or possible legal liabilities, infringing the intellectual property rights of third parties, or acting inconsistently with the letter or spirit of these Terms. Additionally, we may, in appropriate circumstances and at our discretion, suspend or terminate Accounts of Members for any reason, including without limitation: (1) attempts to gain unauthorised access to the Site or another Member's account or providing assistance to others' attempting to do so, (2) overcoming software security features limiting use of or protecting any content, (3) usage of the Service to perform illegal activities such as money laundering, illegal gambling operations, financing terrorism, or other criminal activities, (4) violations of these Terms and Conditions, (5) failure to pay or fraudulent payment for Transactions, (6) unexpected operational difficulties, or (7) upon the request of law enforcement or other government agencies, if deemed to be legitimate and compelling by Independent Reserve, acting in its sole discretion. We also reserve the right to cancel unconfirmed Accounts or Accounts that have been inactive for a period of 6 months or more, and/or to modify or discontinue our Site or Service. Members agree that Independent Reserve will not be liable to them or to any third party for termination of their Account or access to the Site. The suspension of an Account shall not affect the payment of the commissions due for past Transactions. Upon termination, Members shall communicate a valid bank account to allow for the transfer of any currencies credited to their account. Said bank account shall be held by the Member. Cryptocurrency may be transferred to a valid bank account only after conversion into a currency. Independent Reserve shall transfer the currencies as soon as possible following the Member's request in the time frames specified by Independent Reserve. Independent Reserve will send to You the credit balance of Your account, however in circumstances a number of intermediaries may be involved in an international payment and these or the beneficiary bank may deduct charges. We will use reasonable efforts to ensure that such charges are disclosed to You prior to sending Your payment, however where they cannot be avoided, You acknowledge that these charges cannot always be calculated in advance, and that you agree to be responsible for such charges.


All services are provided without warranty of any kind, either express or implied. We do not represent that this Site will be available 100% of the time to meet your needs. We will strive to provide You with the Service as soon as possible but there are no guarantees that access will not be interrupted, or that there will be no delays, failures, errors, omissions or loss of transmitted information. We will use reasonable endeavours to ensure that the Site can normally be accessed by You in accordance with these Terms and Conditions. We may suspend use of the Site for maintenance and will make reasonable efforts to give you notice. You acknowledge that this may not be possible in an emergency.

Limitation of Liability

To the extent permitted by law, Independent Reserve will not be held liable for any damages, loss of profit, loss of revenue, loss of business, loss of opportunity, loss of data, indirect or consequential loss unless the loss suffered arising from negligence or wilful deceit or fraud. Nothing in these terms excludes or limits the liability of either party for fraud, death or personal injury caused by its negligence, breach of terms implied by operation of law, or any other liability which may not by law be limited or excluded. Subject to the foregoing, Independent Reserve's aggregate liability in respect of claims based on events arising out of or in connection with any single Member's use of the Site and/or Service, whether in contract or tort (including negligence) or otherwise, shall in no circumstances exceed the greater of either (a) the total amount held on Account for the Member making a claim less any amount of Commission that may be due and payable in respect of such Account; or (b) the amount of the Transaction(s) that are the subject of the claim less any amount of Commission that may be due and payable in respect of such Transaction(s).


To the full extent permitted by applicable law, You hereby agree to indemnify Independent Reserve, and its partners against any action, liability, cost, claim, loss, damage, proceeding or expense suffered or incurred if direct or not directly arising from your use of Independent Reserve's Sites, Your use of the Service, or from your violation of these Terms and Conditions.

Treatment of Customer Funds

Independent Reserve, at its discretion can hold on trust for a user, money received in its bank accounts only if, after a specified period, a user has not claimed those funds and those funds have been deemed by Independent Reserve to be Unallocated Deposits, in accordance with our Unallocated Deposits policy.

No trustee relationship exists between users and Independent Reserve at any time and Independent Reserve does not hold any funds deposited by users on trust, other than in accordance with its Unallocated Deposits policy.

Independent Reserve accepts no liability or responsibility as a consequence of any personal loss or damages by users if a trustee relationship was found to be established by depositing funds with Independent Reserve.

Any funds held on trust are subject to fees being deducted while those funds remain unallocated.

Trade Fee Reduction

Trade fee reductions apply in addition to the existing Trade Volume Discount schedule, down to a minimum fee of 0 %. If the combined Trade fee reduction and trade volume discount would reduce the fee to lower than 0 %, then the fee for that transaction will be 0 %.


By electing to use the Independent Reserve AutoTrader service, you are acknowledging that you have read and understood the information contained in the How does AutoTrader work? education page. You also acknowledge that you understand the details of the strategies available with the AutoTrader service and understand the risks involved in using the AutoTrader service.

All AutoTrader strategies create either a buy or sell order on your Independent Reserve account when the trigger event occurs (e.g. a fiat deposit is credited to your account). AutoTrader strategies are accepted on a ‘best endeavours’ basis. In the event of system failure or adverse market conditions, we may cancel existing strategies and prevent any new strategies from being placed.

AutoTrader strategies do not have an expiry date and are valid until you elect to cancel the strategy or your AutoTrader strategy is otherwise cancelled by Independent Reserve. It is your sole responsibility to maintain your AutoTrader strategies and ensure the strategies you have in place remain appropriate for you.

Independent Reserve will use our best endeavours to obtain the best execution for you when your AutoTrader strategy conditions have been met and the orders have been placed. Obtaining the best execution means Independent Reserve will attempt to secure the best price outcome for you taking into consideration time, price, priority and current market conditions.

Your AutoTrader strategy will execute once the conditions for your selected strategy have been met. For example: The AutoBuy strategy will execute after your fiat deposit has been processed by our systems and credited to your account.

It may not be possible for Independent Reserve to use all available fiat or cryptocurrency to execute your AutoTrader strategy and Independent Reserve does not guarantee that an exact value or volume of fiat or cryptocurrency will be traded. If there is any residual balance following our best endeavours to execute your strategy, the residual balance of fiat or cryptocurrency will remain on your Independent Reserve account. Residual balances will not re-trigger your AutoTrader strategies.

AutoTrader Risk Disclosure Statement

This Risk Disclosure Statement does not include all risks associated with AutoTrader strategies and should not be relied on as a complete explanation of all risks associated with the AutoTrader service.

Market conditions may make it impossible for Independent Reserve to execute the orders arising from your AutoTrader strategies. AutoTrader strategies and resulting buy and sell orders do not take any provision for unexpected rises or falls in the price of cryptocurrencies. It is your sole responsibility to monitor market conditions and your AutoTrader strategies to ensure they remain appropriate for your circumstances. Independent Reserve reserves the right to revoke the AutoTrader service at any time without further notice to you. Independent Reserve is not liable for any loss or damage that you may incur as a result of ceasing to provide the AutoTrader service.

To the extent permitted by consumer protection law, Independent Reserve is not liable for any loss or damage (including consequential loss, loss of profit and economic loss) that you incur as a result of delays in executing your AutoTrader strategy, system failures, orders not being executed after your AutoTrader strategy triggers.


If We are unable to perform the Services outlined in the Terms and Conditions due to factors beyond our control including but not limited to an event of Force Majeure, change of law or change in sanctions policy we will not have any liability to You with respect to the Services provided under this agreement and for a time period coincident with the event.

Forked Blockchains

Independent Reserve reserves the right to use its own discretion when deciding to support or not support any new token resulting from the fork of a blockchain. Customers are advised to withdraw cryptocurrency to an address under their own control prior to a fork if they wish to have access to any resultant tokens.

Unallocated Deposits


AUD, USD, NZD and SGD and cryptocurrency deposits made to Independent Reserve will be classified as Unallocated Deposits if no claim is made within a period of 18 months.

Cryptocurrency deposits become Unallocated Deposits when, for 18 months following the date of the deposit:

  • A user has deposited to a valid Independent Reserve deposit wallet
  • The deposit record contains no information that allows Independent Reserve to identify the owner of the deposit
  • A customer has not provided evidence that they are the owner of the deposit
  • No customer has made a claim for the missing cryptocurrency

AUD, USD, NZD and SGD deposits become Unallocated Deposits when, for 18 months following the date of the deposit:

  • A user has deposited to a valid Independent Reserve customer bank account without providing a unique deposit code
  • The deposit record contains no information that allows Independent Reserve to identify the owner of the deposit
  • Independent Reserve is unable to identify the owner through the financial institution that holds the bank account
  • A customer has not provided evidence that they are the owner of the deposit
  • No customer has made a claim for the missing funds

Making a Claim for Unallocated Deposits

Customers are able to make a claim for the repayment of the unallocated deposit (less any accumulated fees) by contacting Independent Reserve through the support screen or by email

Independent Reserve as Trustee of Unallocated Deposits

After a deposit has been classified as an Unallocated Deposit, the account will be transferred to Independent Reserve as Trustee of the deposit. Independent Reserve, as Trustee, will hold the deposited funds and cryptocurrency on behalf of the depositor and has an obligation to repay the deposit to the owner on demand. The deposit will incur the unallocated deposit search fee of $250 + GST; and a monthly unallocated deposit management fee of 1% + GST.

Modification of Terms

Independent Reserve reserves the right to change, add or remove portions of these Terms, at any time, in an exercise of its sole discretion. Your continued use of the Site following any changes to the Terms signifies that you accept and agree to the changes, and that all subsequent transactions by you will be subject to the amended Terms.

Privacy & Personal Data Protection Policy

We are committed to protecting your personal information and your right to privacy.

If you have any queries or concerns about our policy or our conduct pertaining to your personal information, please contact us.

This Privacy Policy governs the privacy policies and practices of this website (“the Site”).

Please read our Privacy Policy carefully as it will help you make informed decisions about sharing your personal information with us.

Personal Data Protection of your Personal Information

“Personal Information” shall mean personally identifiable information relating to yourself that Independent Reserve shall require from time to time in order to comply with its “Know Your Client/Client Due Diligence” policy and/or any relevant law, regulation, notice or guideline issued by any competent authority, relating to money laundering and the prevention of terrorist financing.

You expressly acknowledge, agree and understand that Independent Reserve shall retain your Personal Information on its electronic database and in respect of which, you expressly agree as follows:

  • that the Personal Information may be made available to employees, representatives and/or any affiliates of Independent Reserve.
  • that Independent Reserve, its employees, representatives, affiliates and/or subcontractors shall be entitled to use your Personal Information to enable Independent Reserve to conduct its due diligence measures on an ongoing basis as prescribed by prevailing Anti-Money Laundering and Terrorist Financing laws and regulations both within and outside Singapore, and that such Personal Information may be shared upon request by relevant regulatory, government and law enforcement agencies.
  • that Independent Reserve, its employees, representatives, and/or affiliates shall be permitted to transfer and retain your Personal Information to its centralised electronic database and use it for the purposes as aforementioned, for so long as Independent Reserve. shall provide the Services contemplated herein, and for 7 years thereafter, in accordance to relevant record retention requirements.

That Independent Reserve, its employees, representatives, and/or its affiliates shall, insofar as shall be necessary to enable the Personal Information to be utilised in accordance with the clause above, be released from any and all laws and regulations in Singapore, related to its legal and professional secrecy obligations in connection with such Personal Information, in so far as Independent Reserve, its employees, representatives and/or any of Independent Reserve’s affiliates protects your Personal Information in accordance to the same standards as that accorded under the Personal Data Protection Act 2012.

Data Protection.

Independent Reserve. understands and acknowledges that to the extent that performance of its obligations hereunder involves or necessitates the processing of your Personal Information it shall, and shall procure that its employees, representatives, affiliates and/or subcontractors, if any, shall act only on instructions or directions received from Independent Reserve (or, in the case of processing by subcontractors of Independent Reserve, directions from Independent Reserve) and shall comply promptly with all such instructions or directions received from Independent Reserve from time to time and shall take and implement, and procure the taking and implementing by subcontractors of, such reasonable security procedures and measures as may be necessary or appropriate to preserve the security and confidentiality of such Personal Information processed and to protect such Personal Information against unauthorized or unlawful access, processing, accidental loss, destruction or damage. Independent Reserve may from time to time transfer Personal Information processed by it under these terms of services outside Singapore for processing either by its affiliates, subcontractors and/or third parties, and you the user acknowledges that you are aware of such proposed data transfers in respect of all data processing activities by Independent Reserve and its employees, representatives, affiliates and/or subcontractors under the Personal Data Protection Act 2012.

Independent Reserve will notify you as soon as reasonably practicable upon becoming aware of any adverse event involving the use of your Personal Information, including but not limited to, events which may disrupt normal operations leading to potential prolonged service failure or disruption and breaches of confidentiality.

Governing Law

You acknowledge and agree that:

Your use of the Site and these Terms and Conditions are governed by the laws of the Republic of Singapore and you irrevocably submit to the exclusive jurisdiction of the courts of Singapore.