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Independent Reserve vs Rain: 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 18, 2026

Key differences

Criterion	Independent Reserve	Rain
Rating	4.6/5 on other platforms 2.1K ratings	3.9/5 on other platforms 8.4K ratings
Regulators	MAS	CBB, FSRA (ADGM), VARA
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, Visa / Mastercard
Founded	2013	2017
Headquarters	—	Bahrain
	Read review	Read review

Which regulators license Independent Reserve and Rain?

Independent Reserve is licensed by MAS; Rain by CBB, FSRA (ADGM), and VARA.