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Independent Reserve vs Yellow Card: 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

Only Independent Reserve is licensed by MAS.
Only Yellow Card is licensed by FSCA and NBFIRA.
Only Independent Reserve supports Bank transfer for deposits and withdrawals.

Side by side

Criterion	Independent Reserve	Yellow Card
Rating	4.6/5 on other platforms 2.1K ratings	3.3/5 on other platforms 22.6K ratings
Regulators	MAS	FSCA, NBFIRA
Spot trading fees	maker 0.5%, taker 0.5%	—
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	2016
	Read review	Read review

Frequently asked questions

Which regulators license Independent Reserve and Yellow Card?

Independent Reserve is licensed by MAS; Yellow Card by FSCA and NBFIRA.