5,667 reviews
AI reviews summary
Pros
Verdict
Swyftx is generally viewed as a reliable and user-friendly cryptocurrency exchange, particularly well-suited for beginners and long-term investors in Australia and New Zealand. Users frequently praise the intuitive interface, quick local bank transfers, and responsive customer support. While a subset of reviews highlights frustrations regarding strict security checks, account verification requirements, and trading spreads, the overall sentiment remains overwhelmingly positive.
Extremely disappointing experience with Swyftx. My experience dealing with an operator named Renz was unacceptable. I had already completed verification and provided my licence and requested details. Swyftx could see that I had deposited the money, and I even provided a screenshot showing the transaction, yet my funds were still withheld. I was… Read more
then asked to provide further information including bank statements and screenshots of my bank account before they would return my money. This felt completely excessive considering my identity was already verified and the deposit was clearly visible.
What made the situation worse was that Renz did not initially tell me that deposits to my account had been suspended on Swyftx's end. I only found this out after I specifically asked how long it would take to get my funds back.
The whole process felt deliberately difficult and lacking in transparency. At the time, it genuinely felt like my own money was being held to ransom while more and more personal financial information was demanded from me.
I am disgusted with how this was handled. I expected far better communication, transparency and customer service from a financial platform handling people's money. Based on this experience, I would not recommend Swyftx.
I recently had my money held while Swyftx performed their internal review of my account. I spoke to three different people and they were all super friendly and helpful! I’m new to this so most of the things they were asking me I had no idea what they were talking about but they talked me through it and gave great examples with photos and I even… Read more
learned that my phone has the ability to screen record! They gave me a timeframe of when someone else could assist and sure enough first thing Monday morning someone was there to take over and continue the review process. They were efficient and helpful through a process that can be quite frustrating if you don’t have the proper support. So thanks Swyftx team!
- +2
My experience with Swyftx has been extremely frustrating. When I tried to transfer crypto from my Swyftx account to another wallet that I personally own, I was met with endless questions and requests for information. Despite the wallet belonging to me, I was repeatedly asked to provide proof that it was my account and explain in detail why I… Read more
wanted to make the transfer.
What should have been a simple transaction turned into a lengthy verification process. It feels like the moment you try to move your funds off the platform, your account gets restricted or delayed while more checks are carried out.
I understand that exchanges have compliance and security requirements, but the level of scrutiny and obstacles I encountered was excessive. As a customer, I expect to have reasonable access to my own funds without having to justify every transfer or provide endless documentation.
If you're planning to actively use your crypto and transfer it to your own wallets, be aware that you may face significant delays and additional verification requests. Based on my experience, I would recommend looking at other platforms that offer a smoother withdrawal and transfer process.
Reviews with attachments
I've tried a lot of different exchanges and this one is the winner. It has the best layout its easy to use, they have low fees and everything you need build your portfolio. Show details
Great site. Great support. 10/10 would reccomend! Love everything about this exchange. Show details
I love this app, so simple and easy to use.. I’m given our Australian crypto platform 10/10 Show details
Hi I’m very happy to join Swyftx It’s very easy to manage to compare to others Some app is very complicated.im very satisfied with Swyftx Thanks Show details
Great crypto exchange as it easily has the lowest fees out of all Australian exchanges with the least spread too. I’ve attached screenshots of the difference between using CoinSpot and Swyftx. The customer support has always been super helpful and responsive when I’ve needed help.
They asked to verify ID when I last logged in. I did but then the system asked for photo ID and other forms of ID not relevant to my account. I said don't want to and they said if you don't then your account will be suspended. I said "no notice?" then they gave some. Very deceptive, not verification as I said I will update the ID I gave originally, however this was not acceptable. Bad experience for me, apart from the loss incurred :( Show details
Latest follow-ups
Very unhappy. They simply closed my account without any explanation of why they want to do that, when I attempted to just buy a low value flimsy digital info product from an overseas (not associated with anything criminal or illegal) - this is… Read more
direct violation of a consumer rights and probably racism too, if they for some reason 'disliked' to origin of a country I was intending to purchase a book from. I lodged an official complaint to their own site as well as to FMA and ombudsman, regarding the discrimination. I hope they will be held accountable for this discrimination.
Follow-up · They just said they can't comment much and it is to their discretion to close users accounts if they deem it so. I hope their business goes down soon.
They failed at the most fundamental aspect of these exchanges. They blocked my money! – They failed at the most fundamental aspect of these exchanges to build trust. DO NOT BLOCK people's money! They allowed a transfer and then blocked the funds in my account. Then asked me to revert the transaction by depositing the funds back and… Read more
withdraw them. But then locked the deposit too! They've done it again: They allow a trade and then freeze the funds claiming they have to do KYC checks. That is not the way to do it. If the exchange needs further KYC, block the trade! Not the withdrawal!
Follow-up · What was the trade for? I can't recall, maybe around $10,000 How much money was blocked? All of it. How long was it blocked? Until I satisfied their mostly vague request for documents, statements. The point is that they blocked the withdrawal. If they are going to be so concerned about AML, which would be interesting given that the account is… Read more
Customer Support: Excellent (Fast & easily solved my problem) Bank Deposit Speed is fast (in my experience & Ensuring i followed the instructions given by website) = 20 minutes. Was expecting like 4 hours at minimum not 20 minutes.
Follow-up · What were the fees like? The lowest I can find for exchanges (0.6%) standard pricing - To purchase things like BTC, and free for bank deposits/withdrawals for exchanges to onramp or offramp NZD. for swyftx... I think spread is built into the buy/sell price, so you don’t always see it as a separate fee. What was the problem? I had issues with… Read more
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Positive reviews
I made a mistake with my withdrawal (issue with what I copied into the bank sending fields) and the team helped me quickly to make sure my money showed up in my account with no dramas at all. Great work and very encouraging. Thanks. Show details
Swyftx has been easy to use from day one. The app is straightforward, deposits and withdrawals have been smooth, and customer support has always been helpful when I've needed it.
Once again. Swyftx Australia does not fail to deliver. Staff are well across the industry. I got assistance at 8pm last night, and a resolution for this type of issue, might take up to two weeks, 10am this morning, my Algo was back in its rightful place / in my Custody. Staff are polite, kind and highly skilled. 5 Stars for me. I wish I had found them sooner. Thanks a bunch Swyftx.
Negative reviews
So difficult and slow to deal with. Lock your money down & restrict how you use it and what you spend it on. Lazy service agents just send you links to resolve things. They don't have capable / skilled staff on out of hours so things are always ‘next day’ looked at. Never again, time to sell up & money back to eToro/other.
ATROCIOUS CS these days. 1. First you get a bot, then you seem to get a bot PRETENDING to be human. 2. Each answer takes about 3-5 minutes 3. They consistently provide some pre-written stock answer. 3. They also ignore your question, sending a stock answer with no relation. For example I asked: 'What happens if I don't do the VERIFICATION… Read more
process in time?' The fake-human-bot sent a stock answer about that process in GENERAL, FAILING to answer my ACTUAL question. If that WAS a human, maybe replace them with AI ANYWAY - it would answer BETTER!
They really wasted my time and added to my stress (see below) __________________________________________________________________________________________
POTENTIAL HACK AND [Content Removed] DATA LISTING
Since I've had such a mediocre experience, consumers may as well know this:
[Content Removed] __________________________________________________________________________________________
NOTE: My question was about having to provide them with ID or my funds would be frozen - a stressful topic for someone who values their PRIVACY and does not like being HACKED. NOT a good question to deal with with a BOT and have your actual Qs IGNORED!
Does anyone actually work at their office, or is it all run by BOTS now while they sit on the beach?
See yaz !
This would have to be worst crypto exchange on the planet. Anyone rating them better than 1 is obviously new to crypto or does not trade much. Pretty much every time I try and withdraw to another wallet my account gets flagged and I have to go through a 2 day process which is like my mother grilling me on what I am using my pocket money for. If… Read more
you actually use Crypto and want to onboard and offboard in Australia, avoid these clowns like the plague.
Recent reviews
very friendly and efficient service, thus far have had no issues in regards to slow transfers or account restrictions for no reason. fees are good as well, call me a nuthugger... but swyftx #1 Show details
I’ve had a great experience with Swyftx! Trading has been smooth and straightforward, and the fast withdrawals are a big plus. It’s reliable, easy to use, and makes buying and trading crypto a great experience. Definitely recommend! Show details
Good Trading platform. Needs cross device sync on indicators and that type of manual entries which I think should be standard with this type of platforms. I have no complaints. The support they offer is great!
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Their support team is very prompt, accurate and helpful. They don’t do pairs and some newer but very significant coins are missing but overall it’s a great platform. Pretty clean interface, easy to navigate.
I’ve used them for several transactions now, absolutely brilliant! The team are super helpful and responsive! Good value on transfers transactions etc Thanks team all legends ! Show details
Swyftx is a solid crypto exchange for beginners in New Zealand and Australia. It offers an easy-to-use app, supports 400+ cryptocurrencies, includes a demo trading mode, and allows NZD deposits and withdrawals.
Super fast trades, support and easy to transfer crypto in and out! Would be great if add a fast/instant bank deposits/payments option instead of credit card deposits.
Great investment platform that is customer focus and easy to use, even for first time investors. Very responsive and good support with money transfers and incentives to stay active a grow your portfolio. Would be good to see their rewards program up and running again... however still 5 stars. Show details
I find the Swiftx app, as the most reliable and user-friendly. Swiftx also is a platform that supports Australian bank accounts, so buying and withdrawals are a breeze... i really love Swiftx. I am not affiliated with Swiftx and I am not paid by Swiftx. I have been using Swiftx for 4 years now and I'm happy with its performance.
I had a really positive experience with Swyftx when I needed to make changes to my personal details. The service was great, everything was quick and straightforward, and the platform has been easy to use. Overall, I’m really happy with how smooth the whole process was.
It's a good exchange with friendly and responsive staff that are from Australia and provide after ours support. They take feedback seriously so if you want something their app has a function for that. Show details
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Hi there, sorry to hear your experience wasn't favorable!… Read more