Best Cryptocurrency Exchanges in Canada 2025

Updated March 2025 — bremo.io

Canada has a well-developed domestic cryptocurrency exchange ecosystem. Unlike many countries, Canadian crypto investors have access to multiple regulated, locally operated platforms. This guide covers the best Canadian crypto exchanges in 2025, how they compare, and what to look for when choosing one.

Why Use a Canadian Crypto Exchange?

While global platforms like Binance and Coinbase serve Canadian users, there are good reasons to use a Canadian-registered exchange:

• Funded and withdrawn in CAD with no currency conversion fees
• Interac e-Transfer deposits for fast, low-cost funding
• Regulatory protection and recourse under Canadian law
• Customer service available in Canadian time zones
• Tax reporting tools designed for CRA compliance
• FINTRAC-registered with provincial securities oversight

Top Canadian Crypto Exchanges in 2025

NDAX (National Digital Asset Exchange)

NDAX is a Calgary-based exchange offering over 30 cryptocurrencies. It is known for competitive trading fees (0.20% maker/taker), a clean interface, and strong compliance. NDAX is registered with FINTRAC and regulated under provincial securities laws. It supports Interac e-Transfer deposits and wire transfers. NDAX is a solid choice for active traders who want more coins beyond just Bitcoin and Ethereum.

Bitbuy

Bitbuy is one of Canada's oldest and most established exchanges, founded in 2016. It is FINTRAC-registered and regulated in Ontario. Bitbuy offers a straightforward platform for beginners as well as a Pro Trade interface for advanced users. It supports Interac e-Transfer, bank wire, and credit card deposits. Trading fees range from 0.10% to 0.50% depending on the interface. Bitbuy was acquired by WonderFi in 2022.

Shakepay

Shakepay focuses on simplicity — it is primarily a Bitcoin and Ethereum app with no complicated order books. It is popular with beginners and those who want to buy crypto quickly via Interac e-Transfer. Shakepay makes money on the spread rather than charging explicit trading fees. It also offers "ShakingSats," a program where users earn small amounts of Bitcoin daily by shaking their phone. Shakepay is FINTRAC-registered.

Newton

Newton is a zero-commission exchange that makes money on the spread between buy and sell prices. It offers a wide selection of cryptocurrencies and is known for its clean interface and fast CAD deposits via Interac e-Transfer. Newton is available to Canadians in all provinces. It is FINTRAC-registered and provides a transaction history export for tax purposes.

Wealthsimple Crypto

Wealthsimple added crypto trading to its existing investment platform in 2020. It is regulated as a restricted dealer by provincial securities regulators — the first crypto platform in Canada to achieve this status. Wealthsimple Crypto charges a spread of approximately 1.5-2% on trades. It is ideal for investors who already use Wealthsimple for stocks or ETFs and want everything in one place. Tax reporting integrates with Wealthsimple Tax.

Coinsquare

Coinsquare is one of Canada's longest-running exchanges, founded in 2014. It has faced regulatory challenges in the past but remains operational and FINTRAC-registered. Coinsquare merged with MogoTrade in 2022 under the WonderFi umbrella. It supports Interac e-Transfer and bank wire deposits.

Coinberry

Coinberry is a Toronto-based exchange registered with FINTRAC and several provincial securities regulators. It offers a simple interface suitable for beginners, with Interac e-Transfer deposits. Coinberry supports Bitcoin, Ethereum, and a selection of major altcoins. Fees are embedded in the spread.

How Canadian Exchanges Are Regulated

Canadian crypto exchanges face a two-layer regulatory structure:

1. FINTRAC registration: All exchanges must register as Money Services Businesses and comply with anti-money laundering (AML) and know-your-customer (KYC) requirements under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act.
2. Provincial securities regulation: Exchanges that allow trading in crypto assets that qualify as securities or investment contracts must also register with provincial regulators such as the Ontario Securities Commission (OSC) or British Columbia Securities Commission (BCSC). Platforms must operate under a pre-registration undertaking or obtain full dealer registration.

This dual-layer system means Canadian exchanges are among the more tightly regulated in the world.

What to Compare When Choosing an Exchange

• Fees: Compare trading fees, deposit fees, and withdrawal fees. Some charge a flat percentage; others embed fees in the spread.
• Coin selection: If you want altcoins beyond BTC and ETH, check the available pairs.
• Deposit methods: Interac e-Transfer is the most convenient for Canadians. Some platforms also accept credit cards or bank wire.
• Security: Look for two-factor authentication (2FA), cold storage for the majority of assets, and proof of reserves if available.
• Tax reporting: Exchanges that export your transaction history in CRA-compatible format save significant time.
• Customer support: Canadian-based support that can help during business hours.

Avoiding Unregistered Platforms

Not all platforms advertising to Canadians are registered or regulated. Using unregistered exchanges carries risk: no recourse if the platform fails, potential difficulty withdrawing funds, and legal exposure. Always verify that an exchange is listed on FINTRAC's public MSB registry before depositing funds.

Crypto Security Best Practices

Regardless of which exchange you use:

• Enable two-factor authentication on your account
• Use a unique, strong password
• Consider moving long-term holdings to a hardware wallet
• Never share your seed phrase or private keys
• Be skeptical of emails or messages claiming to be from the exchange