The Canadian cryptocurrency market continues to evolve rapidly, with more traders than ever seeking reliable, secure, and cost-effective platforms to buy, sell, and trade digital assets. While the regulatory environment remains cautious, a growing number of top-tier crypto exchanges now serve Canadian users with localized payment options, strong security protocols, and user-friendly interfaces.
Choosing the right exchange can significantly impact your trading experience—whether you're a beginner looking for simplicity or an advanced trader focused on low fees and leverage. In this guide, we analyze the 8 best crypto exchanges in Canada, evaluating each based on fees, security, coin selection, accessibility, and unique features.
Top 8 Crypto Exchanges in Canada Reviewed
Here’s a curated list of the most trusted and high-performing crypto exchanges available to Canadian users in 2025:
- Bitget – Best Overall Crypto Exchange in Canada
- Phemex – Best Alternative Exchange for Leverage Trading
- VirgoCX – Best Local Canadian Crypto Exchange
- BYDFi – Best No-KYC Crypto Exchange in Canada
- MEXC – Exchange with the Lowest Fees
- Kraken – Oldest and Most Trusted Crypto Exchange
- Gemini – Most Secure Platform for Beginners
- Coinbase – Most Beginner-Friendly Exchange
Let’s dive into each platform to help you find the perfect fit for your crypto journey.
1. Bitget – Best Overall Crypto Exchange in Canada
Bitget stands out as a leading global exchange that combines high liquidity, competitive fees, and advanced trading tools—making it ideal for both novice and experienced Canadian traders.
With over 871+ cryptocurrencies available—including major coins like Bitcoin (BTC), Ethereum (ETH), and emerging altcoins—Bitget offers one of the broadest selections in the market. Its spot trading fees start at just 0.10% for makers and takers, which can be further reduced by using its native token, BGB.
👉 Discover how Bitget delivers powerful trading tools and low fees for Canadian investors.
Key Features of Bitget
- Trading Fees: 0.10% (spot), 0.02% maker / 0.06% taker (futures)
- Max Leverage: Up to 125x on futures
- Supported Currencies: CAD via Interac e-Transfer, credit/debit cards, and P2P
- Mobile App: Available on iOS and Android (4.5-star rating)
- Security: $400 million insurance fund, 2FA, anti-phishing codes, address whitelisting
- Regulation: Licensed in Canada, Australia, and Singapore
Bitget also supports copy trading, allowing users to mirror successful strategies from top traders—a great feature for those still learning the ropes.
While the platform is highly functional, beginners may find the interface slightly complex at first. However, once familiarized, Bitget offers unparalleled depth for active traders.
Pros and Cons
| ✅ Pros | ❌ Cons |
|---|---|
| Extremely low trading fees | Interface may overwhelm beginners |
| No fees for crypto deposits | Not available in the U.S. |
| Strong security and insurance backing | |
| Supports fiat withdrawals in CAD | |
| 24/7 customer support |
2. Phemex – Best Alternative Exchange for Leverage Trading
Founded in 2019, Phemex has built a reputation for offering fast execution, high leverage, and a clean trading interface. It's especially popular among Canadian traders interested in futures and leveraged trading.
Phemex supports over 346+ cryptocurrencies, with spot fees at 0.10% and futures fees as low as 0.01% (maker) and 0.06% (taker). One standout feature is its demo account, perfect for testing strategies risk-free.
Key Features of Phemex
- Max Leverage: Up to 100x
- Staking Rewards: Earn up to 8.8% APY on USDC, USDT, BTC, and ETH
- Deposit Methods: Credit/debit cards, Apple Pay, bank transfers
- KYC Option: No mandatory KYC for basic trading
- Copy Trading & Launchpool: Engage with community-driven investment opportunities
Phemex excels in user experience but lacks detailed public information about its regulatory status in Canada.
Pros and Cons
| ✅ Pros | ❌ Cons |
|---|---|
| Low fees and high leverage | Limited regulatory transparency |
| Excellent mobile app | No lending services |
| Strong staking rewards | |
| No mandatory KYC |
3. VirgoCX – Best Local Canadian Crypto Exchange
As a homegrown platform founded in Toronto in 2018, VirgoCX is fully registered with FINTRAC and tailored specifically for Canadian users.
One of its biggest advantages? Zero trading fees on all transactions—though users should note that spread markups (up to 2.5%) may apply.
👉 See how VirgoCX simplifies crypto trading for Canadians with zero-commission trades.
Key Features of VirgoCX
- Supported Coins: Over 90 cryptocurrencies
- Fees: 0% trading fee; small deposit/withdrawal fees
- Deposit Options: Interac e-Transfer, wire transfer (CAD/USD)
- Advanced Tools: Grid trading, recurring buys, OTC desk for large trades
- Security: 80% of assets in cold storage via Ledger Vault
VirgoCX also offers NFT brokerage services and institutional-grade solutions through VirgoCX Wealth.
Pros and Cons
| ✅ Pros | ❌ Cons |
|---|---|
| 0% trading fees | High spreads (up to 2.5%) |
| Fully Canadian-based and regulated | NFT marketplace limited to OTC clients |
| Beginner-friendly interface | |
| Educational resources available |
4. BYDFi – Best No-KYC Crypto Exchange in Canada
Formerly known as Bityard, BYDFi is a Singapore-based exchange offering derivatives trading without mandatory KYC verification—ideal for privacy-conscious users.
With support for over 300+ cryptocurrencies and leverage up to 125x, BYDFi appeals to active traders who value speed and anonymity.
Key Features of BYDFi
- No KYC Required for basic trading
- Trading Fees: 0.10% spot, 0.02%/0.06% futures
- Affiliate Program: Earn up to 40% commission on referral trading fees
- Copy Trading & Technical Charts: Advanced tools included
While it lacks staking and NFT features, its global compliance framework includes recognition in Canada.
Pros and Cons
| ✅ Pros | ❌ Cons |
|---|---|
| No KYC required | No staking or NFT services |
| High leverage (up to 125x) | |
| Fair fee structure | |
| Beginner-friendly tools |
5. MEXC – Lowest Fees & Largest Coin Selection
MEXC boasts one of the largest selections of cryptocurrencies globally—over 1,800+ coins—with some of the lowest fees in the industry: 0% spot fees and just 0.02% taker fee on futures.
It’s a favorite among traders hunting for early-stage altcoins and participating in IEOs via its Launchpad program.
Key Features of MEXC
- Max Leverage: Up to 200x
- Staking & ETFs: Earn rewards and access exchange-traded funds
- Trading Bots & Copy Trading: Automate strategies or follow top traders
- Regulated In: Canada, U.S., Australia, Estonia
Despite lacking fiat withdrawals, MEXC offers deep liquidity and responsive 24/7 support.
6. Kraken – Oldest & Most Trusted Exchange
Launched in 2011, Kraken is one of the longest-standing exchanges in the world and remains a top choice in Canada due to its strong security, regulatory compliance (FINTRAC), and multilingual phone support.
It supports over 185+ cryptocurrencies, offers staking, NFT trading, and futures with low fees.
Kraken’s interface may feel complex for beginners, but its reliability makes it a solid long-term option.
7. Gemini – Most Secure Platform
Gemini emphasizes security above all—offering FDIC-insured USD balances (up to $250K), SOC-certified systems, and hardware-based U2F security keys.
While fees are higher (up to 1.49% per trade), its beginner-friendly design and $7 sign-up bonus make it appealing for new investors.
8. Coinbase – Most Beginner-Friendly
Coinbase remains a go-to for newcomers thanks to its intuitive design and educational tools like Coinbase Earn.
Though trading fees are among the highest (up to 3.99%), Advanced Trade offers lower rates (0.5%). It also provides FDIC insurance and strong encryption standards.
How to Choose the Right Crypto Exchange in Canada
When selecting an exchange, consider these key factors:
🔹 Fees
Compare maker/taker fees, deposit/withdrawal costs, and hidden spread markups. Platforms like MEXC and Bitget offer the lowest overall costs.
🔹 Security
Look for exchanges with cold storage policies (95%+ offline), insurance funds, two-factor authentication (2FA), and regulatory oversight.
🔹 Coin Selection
Ensure your desired cryptocurrencies are supported. For altcoin variety: MEXC > Bitget > Phemex.
🔹 Accessibility
Check CAD funding options: Interac e-Transfer (VirgoCX), bank transfer, or card purchases.
🔹 Customer Support
Kraken leads with phone support; others rely on email or live chat.
🔹 Custody Options
Prefer non-custodial control? Use exchanges that allow wallet transfers instead of holding assets on-platform.
👉 Compare real-time performance metrics across top exchanges before investing.
Frequently Asked Questions (FAQ)
Is cryptocurrency trading legal in Canada?
Yes, buying, selling, and trading cryptocurrencies is fully legal in Canada under federal regulations.
Are my funds safe on Canadian crypto exchanges?
Most reputable platforms use cold storage, encryption, and insurance to protect user assets. However, always enable 2FA and consider transferring long-term holdings to private wallets.
Which exchange has the lowest fees in Canada?
MEXC offers 0% spot trading fees—the lowest in the market—followed closely by Bitget and BYDFi.
Can I trade futures in Canada?
Yes, several exchanges—including Bitget, Phemex, MEXC, and Kraken—offer futures contracts with leverage up to 200x.
Do I need to complete KYC verification?
Most major exchanges require KYC for CAD deposits or withdrawals. However, platforms like Phemex and BYDFi allow limited trading without verification.
What’s the best exchange for beginners?
Coinbase and VirgoCX are the most beginner-friendly due to simple interfaces and educational tools.
Final Thoughts
The best crypto exchange in Canada depends on your priorities: low fees (MEXC), local trust (VirgoCX), security (Gemini), or advanced tools (Bitget). Each platform reviewed here offers distinct advantages tailored to different types of traders.
By focusing on core aspects like regulation, security, fees, and ease of use, you can confidently choose an exchange that aligns with your financial goals.
Remember: diversify your holdings, avoid keeping large amounts on exchanges long-term, and always conduct independent research before investing.
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