The six scoring categories
Every exchange we review is scored out of 10 in six categories. The final score is a weighted average, not a simple mean — fees and security count for more than aesthetics.
| Category | Weight | What we test |
|---|---|---|
| Fees | 25% | Maker/taker fees, instant-buy spreads, AUD deposit/withdrawal fees, network fees on common coins (BTC, ETH, SOL). |
| Security & trust | 25% | AUSTRAC registration status, 2FA options, cold-storage policy, proof-of-reserves, insurance, ISO 27001, time since last incident. |
| Coin selection | 15% | Number of listed coins, availability of mid-cap altcoins, staking offerings, listing speed for new launches. |
| User experience | 15% | App quality (iOS and Android tested), web UI, onboarding speed, KYC turnaround time, order types available. |
| AUD deposit & withdrawal | 10% | PayID support, bank transfer speed, BPAY, card deposits, withdrawal turnaround, AUD on-ramp limits. |
| Customer support & tax | 10% | Support response time (we email a real question), Australian business hours, tax report quality, Koinly/CTC integration. |
What we actually test
1. Onboarding
We open a fresh account on every exchange we review, using a clean email and our own ID. We record:
- Time from signup to verified account (target: under 24 hours)
- KYC document types required
- Whether the platform accepts SMSF and trust accounts
- Friction points: failed selfies, document rejections, support escalations
2. Funding
We deposit AUD via every available method — PayID, bank transfer, BPAY, debit card — and measure:
- Time for funds to clear and become tradeable
- Hidden fees not disclosed at deposit
- Maximum and minimum deposit limits
- Whether deposit address details match the platform's claimed entity
3. Trading
We execute trades in three scenarios:
- $500 instant-buy of BTC (the beginner path)
- $5,000 limit order on the order-book (the intermediate path)
- Multiple small trades across mid-cap altcoins (the active trader path)
For each, we measure the all-in cost including spread vs the spot rate at the time of execution. This is where headline "0.1% fee" claims often unravel.
4. Withdrawal
We withdraw both crypto (to an external wallet) and AUD (to a bank). We record fees, processing times, and whether the platform throws extra verification hurdles at withdrawal — a tactic we consider a red flag.
5. Customer support
We email a realistic question that requires actual product knowledge to answer — not a "what are your fees" softball. We record:
- First-response time
- Whether the response actually answered the question or was boilerplate
- Available channels (email, chat, phone)
- Whether support staff are Australia-based
6. Tax reporting
At EOFY, we download the platform's tax report. We check:
- Whether it imports cleanly into Koinly and CryptoTaxCalculator
- Whether the platform pre-calculates capital gains or leaves the work to you
- Confirmation of ATO data-sharing under the DSP regime
What we don't do
- We don't rely on the exchange's marketing. Claims like "lowest fees in Australia" mean nothing unless we can verify them in our own trade history.
- We don't use trial accounts or demo modes for scoring. Live money only.
- We don't penalise exchanges for things outside their control (e.g. ETH network fees on a slow day) but we do flag when a platform's onchain fee markup is excessive.
- We don't rank exchanges by affiliate commission. If we did, the order would look very different.
How often we update
Each review page is reviewed at least once per quarter and updated whenever:
- The exchange changes its fee schedule
- A new payment method is added or removed
- The exchange's AUSTRAC status changes
- A security incident occurs
- A reader emails us with a verified correction
The "Last updated" date at the top of every review reflects the date of the most recent substantive review — not a typo fix.
Conflicts of interest
We hold positions in BTC, ETH, and a handful of altcoins. We do not hold equity in any of the exchanges we review. We participate in affiliate programs with most platforms we cover (see disclosure) — this does not influence rankings.
Disagree with us?
We expect to be wrong sometimes. If our scoring of a platform doesn't match your experience, email cryptoreviewaustralia@gmail.com. We read every message and update reviews when we get it wrong.