Day1X

Day1X was an Australian cryptocurrency exchange based in Melbourne that positioned itself as the lowest-fee option for Australian retail traders. Operating under the tagline "More Crypto For Less," the platform offered spot trading in ten digital assets — including Solana — with a flat 0.1% fee and no deposit or withdrawal charges. The exchange announced its closure on March 30, 2026, shifted to withdrawal-only mode on April 6, 2026, and took the website offline on May 8, 2026.

Founders and Background

Day1X was founded in 2021 by Phil Horner and David Swinden, co-founders of Fusion Markets, an Australian forex and CFD broker. Horner previously served as CEO of Pepperstone and as a senior executive at AxiTrader, with over 15 years in financial markets. Swinden, as COO of Fusion Markets, brought more than 10 years of experience in financial markets technology. Their prior venture Fusion Markets reportedly processed over $100 billion in monthly forex trading volume across more than 180 countries — a track record the Day1X founders cited as evidence of their infrastructure and compliance capabilities.

Day1X was registered with AUSTRAC (registration number 100793329) under ACN 656 508 815, placing it within Australia's regulated digital asset framework for Anti-Money Laundering and Counter-Terrorism Financing obligations.

Products and Platform

Day1X supported spot trading for ten digital assets, all quoted against the Australian Dollar (AUD):

• Bitcoin (BTC)
• Ethereum (ETH)
• USD Tether (USDT)
• Circle USD (USDC)
• Ripple (XRP)
• Solana (SOL)
• Binance Coin (BNB)
• Cardano (ADA)
• Avalanche (AVAX)
• Chainlink (LINK)

The exchange offered four order types — market, limit, stop, and stop-limit — alongside free, unlimited demo accounts for new users. Mobile applications were available on iOS and Android. Leverage and margin trading were not offered.

Deposit methods included Visa, MasterCard, Bank Wire, PayID, and direct cryptocurrency transfers. Fiat withdrawals submitted before 11am AEST processed same-day; after 11am AEST, next business day, with an additional one-to-five business day delay for bank receipt.

Fee Structure

Day1X charged a flat 0.1% market fee on all trades, with no deposit fees, withdrawal fees, or conversion charges. The exchange described this as the lowest fee structure available among Australian cryptocurrency exchanges at the time of operation.

Feature Expansion (2025–2026)

In its final six months, Day1X launched several new products:

• December 2025 — Leaderboard: A gamified ranking system for active traders.
• January 2026 — Crypto Packs: Curated asset baskets described as offering "simple access to market narratives, without the hidden costs," aimed at users seeking thematic exposure rather than individual asset selection.
• January 2026 — New Year promotion: Fee-free trades for the first week of 2026.
• March 2026 — Corporate Accounts: Business-facing accounts enabling companies to trade cryptocurrency through the platform.

The corporate accounts announcement, published March 18, 2026, was the final blog post before the closure announcement twelve days later.

Solana on Day1X

Solana (SOL) was among the ten supported assets from the exchange's launch, making Day1X one of the Australian retail exchanges offering SOL/AUD trading pairs during its period of operation.

Closure

Day1X announced its closure on March 30, 2026. The platform moved to a withdrawal-only mode on April 6, 2026, allowing customers to recover balances without accepting new trades or deposits. The website was taken offline on May 8, 2026. The closure notice directed users with outstanding balances to submit account recovery requests with supporting documentation via an online form.

No public explanation for the closure was provided in available sources. The shutdown was distinct from the January 2026 voluntary liquidation of DAEX (which operated AUDX Australia, AUDX Global, and GlobalOne Exchange) — a separate Sydney-based exchange group unrelated to Day1X.