5 Best Crypto Trading Platforms in Canada: A Detailed Comparison
In this guide, we cover the best crypto trading platforms in Canada and how to pick the right one for you in 2025. Here’s what to know and how to ensure you choose best for your own personal requirements.
KEY TAKEAWAYS ➤ Canada offers a regulated and accessible environment for crypto trading, with clear rules from FINTRAC and the CSA. ➤ Canadian users can choose from a variety of top crypto platforms, including VirgoCX, Kraken, Coinbase, NDAX, and Newton. ➤ Platform type, fees, supported payment methods, and features should all be considered when choosing a trading platform. ➤ Canada’s crypto market is mature and user-friendly, but users should still be mindful of taxes and security.
- Best crypto trading platforms in Canada
- 1. VirgoCX
- 2. Kraken
- 3. Coinbase
- 4. NDAX
- 5. Newton
- Canada crypto trading platforms compared
- The state of crypto in Canada
- How to select a crypto trading platform in Canada
- Canada is spoiled for choice
- Frequently asked question
Best crypto trading platforms in Canada
1. VirgoCX
VirgoCX is a Canadian cryptocurrency trading platform founded by Adam Cai and Jake Benson in 2018. In June 2022, VirgoCX raised CA $10 million in Series A funding led by Draper Dragon. On May 5, 2023, VirgoCX Global Holdings Inc. acquired Arxnovum Investments Inc., a portfolio manager that invests in both traditional and digital assets. Unlike many of its competitors, VirgoCX does not charge trading fees.
• OTC trading desk
• Available on Android and iOS
• Registered with FINTRAC
• Advanced trading options
- Zero fees for most deposits and trading
- Fast funding options
- Multi-currency support
- Limited selection of crypto
- Limited features compared to competitors
2. Kraken
Jesse Powell founded Kraken in 2011. It was originally one of the earliest Bitcoin exchanges but quickly grew and expanded to other altcoins. Kraken is one of the first exchanges to issue public proof of reserves. The exchange is based in the U.S. but services over 10 million clients in 190 countries, including Canada.
• Spot, margin, and futures trading
• Earning products
• DeFi services
• NFT marketplace
- Flexible funding options
- Free Kraken Pay transfers
- Advanced trading features
- Educational resources
- Instant buy fees are relatively high
3. Coinbase
Coinbase is a beginner-friendly crypto trading platform that operates both a brokerage — Coinbase Prime — and an exchange — Coinbase Exchange. It was originally founded in the U.S. as a remote-first company, but it also offers its services in countries across the globe, including in Canada.
• Instant buy, spot, and futures trading
• Staking and Earn products
• Custodial services
• Coinbase Wallet and Base blockchain
- Supports a variety of cryptocurrencies
- One of the most popular on-ramps to the crypto ecosystem
- Low-cost Base blockchain to build DApps
- Multiple platform features
- Both exchange and brokerage have relatively high fees
4. NDAX
Bilal Hammoud established the Canadian cryptocurrency trading platform NDAX (National Digital Asset Exchange) in 2017, with its main office located in Calgary, Alberta. With a variety of features, it is regarded as one of Canada’s most sophisticated cryptocurrency exchanges.
• Staking and mining
• OTC trading desk
• White lable services
• Simple trading
- Low trading fees
- User-friendly interface
- Staking options as high as 13%
- Advanced trading features
- Limited selection of cryptocurrencies
5. Newton
Newton is a Canada-based cryptocurrency exchange. It was founded in 2018 in Toronto, Canada by Dustin Walper, Erynn Saunders, and Tyson Leslie. It is designed to be user-friendly for both beginner and advanced traders.
• OTC trading desk
• Advanced trading features
• Earn products
• Available on Android and iOS
- Low fees and zero trading fees
- Supports various free deposit methods
- Registered with FINTRAC
- Few features compared to other exchanges
Canada crypto trading platforms compared
| Platform | Type | Fees | Cryptocurrencies | Payment methods |
|---|---|---|---|---|
| VirgoCX | Exchange | Zero trading fees | 90+ | Credit/debit, crypto, Interac e-Transfer, wire |
| Kraken | Exchange | 0.9%-3.75% | 300+ | Wire, Interac e-transfer, digital wallets, and 3+ |
| Coinbase | Brokerage | $0.99-$4.19 (Coinbase Prime) | 240+ | Interac e-Transfer, credit/debit, and 5+ |
| NDAX | Exchange | 0.2% | 40+ | Interac e-Transfer, wire, and crypto |
| Newton | Exchange | Zero trading fees | 70+ | Interac e-Transfer, wire, debit, and crypto |
The aforementioned exchanges were chosen based on a number of different factors. These include their dominance in Canadian markets and popularity amongst users, alongside their supported payment methods, fees, and supported cryptocurrencies. These factors comprise the trading platforms’ abilities to support Canadian users.
The state of crypto in Canada
Canada has taken a proactive approach to cryptocurrency regulation. Many consider crypto regulations in Canada strict; however, the country provides structured and clearly defined regulations for cryptocurrency platforms and related businesses. These platforms must register with regulatory bodies like FINTRAC and the CSA.
Canadians have access to a wide range of domestic and international crypto exchanges. The buying process is simple, and many exchanges support easy payment methods, such as Interac e-Transfer, a Canadian service that allows you to send, request, and receive money electronically online or through mobile banking.
Crypto exchange fees in Canada can vary significantly. Deposits are often free across most exchanges, but withdrawal fees can vary.
Canada’s early adoption of Bitcoin ETFs and clear tax treatment further supports mainstream access to digital assets. However, you should stay aware of tax implications, as crypto is not legal tender in Canada, and certain activities may incur capital gains taxes.
World’s first Bitcoin ETF now on ArkhamPurpose Investments is a Canadian company that created the first non-derivative BTC ETF (BTCC) in February 2021.They currently hold 28,903 BTC ($1.98B) in BTCC, alongside 101K ETH ($395.47M) in their Ether ETF (ETHH).Track Purpose on… pic.twitter.com/zRCH1xgV78
— Arkham (@arkham) March 9, 2024
How to select a crypto trading platform in Canada
If you decide to select a crypto trading platform in Canada, there are a few things you should remain aware of. You should consider the following:
Fees
Naturally, fees are a big part of selecting an exchange. Low fees are great, but the types of fees are also important. You should look at an exchange’s fee schedule to determine which you are comfortable with. Remember to also keep in mind :
- Deposit and withdrawal fees and limits
- Minimum and maximum purchases
- Fees on payment methods
Platform type
Most people call all crypto trading platforms exchanges, which is a misnomer. There are many different types of crypto trading platforms. Although many platforms register as dealers or money service businesses under Canadian law, they typically fall under the following categories:
- Brokerage: A platform that facilitates crypto buying and selling on your behalf, usually offering fixed prices and a simplified user experience. (e.g., Wealthsimple Crypto)
- Exchange: A marketplace where users can trade cryptocurrencies directly with others, typically through order books. Offers more trading features and often better prices. (e.g., Coinbase and Kraken)
- Payment service: A service that enables sending, receiving, or converting crypto for payments, often integrating with wallets or merchant tools. Focused on transactions rather than trading. (e.g., MoonPay and BitPay)
It is best to ask yourself what your goals with crypto are, and then you can figure out what type of services you require.
Features
Many crypto-native users will select an exchange based on its features. These most often include trading (spot, futures, options, margin, etc.) but can also include security, NFT marketplaces, wealth management, tax preparation, earning products, referrals and welcome bonuses, affiliate opportunities, learning resources, and more.
It is more important to select an exchange based on how well it handles specific features than on the number of features it offers. Again, it is important to assess your goals with crypto to understand which features are most important to you.
Canada is spoiled for choice
If you are looking for a crypto trading platform in Canada, you have a lot of choices. You should select the best platform based on fees, platform type, and features. Even amongst the best crypto platforms, some features will outshine others depending on which you choose. Remember never to risk more than you can comfortably afford to lose, and always do your own research.
Disclaimer: This article is for informational purposes only and should not be considered investment advice. Always do your own research.
Frequently asked question
Yes, cryptocurrency is legal in Canada. The Canadian government has taken a proactive stance on crypto and enacted legislation regulating the trading and sale of cryptocurrency on platforms. Many crypto platforms must register with FINRAC or CSA.
The best crypto trading platforms in Canada depends on a lot of factors. However, some of the most popular include Kraken, Coinbase, VirgoCX, NDAX, and Newton. Each platform has weaknesses and strengths in its own right.
To buy crypto in Canada, you need to create an account on an exchange, deposit fiat, and purchase crypto. For some platforms you will not need an exchange. These are typically provided via payment services. However, many platforms will require KYC.
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Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
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