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Independent Reserve vs OSL: fees, licences and P2P

Facts for both companies from their official pages; each was checked on the date shown in its review.

Facts verified on October 28, 2026

Key differences

Only Independent Reserve is licensed by MAS.
Only OSL is licensed by SFC.

Side by side

Criterion	Independent Reserve	OSL
Rating	4.6/5 on other platforms 2.1K ratings	4.4/5 on other platforms 635 ratings
Regulators	MAS	SFC
Spot trading fees	maker 0.5%, taker 0.5%	maker 0%, taker 0.05%
USDT withdrawal	4 USDT on TRC20, 10 USDT on ERC20	—
Proof of reserves	not published	not published
Deposits and withdrawals	Bank transfer	Bank transfer
Founded	2013	—
	Read review	Read review

Frequently asked questions

Which regulators license Independent Reserve and OSL?

Independent Reserve is licensed by MAS; OSL by SFC.