Best Canadian Digital Brokers 2025
Written by: Claire Wright
Top Cryptocurrency Trading Platforms in Canada
4.9 / 5
FREE to buy and sell
100% FREE
Canada’s Best Overall Broker: Free Trading, $0 Account Fees, Best Online Platform, Superb Services, Rated #1 by The Globe and Mail
4.9 / 5
Free to buy and sell
$0 - only ECN fees
Runner Up Best Broker: Best Options Trading, Advanced Data Streams, Customer Service Lacking
4.9 / 5
$9.99 per ETF trade
$9.99 ($7 for Active Traders)
Best Big Bank Brokerage: Excellent Platform. A+ Globe and Mail Rating. Good Convenience. High Fees.
4.9 / 5
Free to buy and sell
$0 - only ECN fees
Canada’s Best Overall Broker: Free Trading, $0 Account Fees, Best Online Platform, Superb Services, Rated #1 by The Globe and Mail
4.9 / 5
FREE to buy and sell
$0 - only ECN fees
Runner Up Best Broker: Best Options Trading, Advanced Data Streams, Customer Service Lacking
4.9 / 5
$9.99 per ETF trade
$9.99 ($7 for Active Traders)
Runner Up Best Broker: Best Options Trading, Advanced Data Streams, Customer Service Lacking
4.9 / 5
Free to buy and sell
$0 - only ECN fees
Best Big Bank Brokerage: Excellent Platform. A+ Globe and Mail Rating. Good Convenience. High Fees.
4.9 / 5
FREE to buy and sell
100% FREE
Runner Up Best Broker: Best Options Trading, Advanced Data Streams, Customer Service Lacking
4.9 / 5
Free to buy and sell
$0 - only ECN fees
Canada’s Best Overall Broker: Free Trading, $0 Account Fees, Best Online Platform, Superb Services, Rated #1 by The Globe and Mail
4.9 / 5
$9.99 per ETF trade
$9.99 ($7 for Active Traders)
Best Big Bank Brokerage: Excellent Platform. A+ Globe and Mail Rating. Good Convenience. High Fees.
4.9 / 5
FREE to buy and sell
$0 - only ECN fees
Runner Up Best Broker: Best Options Trading, Advanced Data Streams, Customer Service Lacking
4.8 / 5
$9.99 per ETF trade
$9.99 ($7 for Active Traders)
Runner Up Best Broker: Best Options Trading, Advanced Data Streams, Customer Service Lacking
4.8 / 5
FREE to buy and sell
$0 - only ECN fees
50 Free Trades via TD Easy Trade
4.8 / 5
Free to buy and sell
100% FREE
Best Big Bank Brokerage: Excellent Platform. A+ Globe and Mail Rating. Good Convenience. High Fees.
4.8 / 5
$9.99 per ETF trade
100% FREE
Canada’s Best Overall Broker: Free Trading, $0 Account Fees, Best Online Platform, Superb Services, Rated #1 by The Globe and Mail
4.8 / 5
FREE to buy and sell
$9.99 ($7 for Active Traders)
Runner Up Best Broker: Best Options Trading, Advanced Data Streams, Customer Service Lacking
4.8 / 5
$9.99 per ETF trade
$0 - only ECN fees
Canada’s Best Overall Broker: Free Trading, $0 Account Fees, Best Online Platform, Superb Services, Rated #1 by The Globe and Mail
4.7 / 5
Free to buy and sell
$0 - only ECN fees
Best Big Bank Brokerage: Excellent Platform. A+ Globe and Mail Rating. Good Convenience. High Fees.
4.7 / 5
FREE to buy and sell
100% FREE
Runner Up Best Broker: Best Options Trading, Advanced Data Streams, Customer Service Lacking
4.7 / 5
$9.99 per ETF trade
$0 - only ECN fees
Canada’s Best Overall Broker: Free Trading, $0 Account Fees, Best Online Platform, Superb Services, Rated #1 by The Globe and Mail
4.7 / 5
$9.99 per ETF trade
$0 - only ECN fees
Canada’s Best Overall Broker: Free Trading, $0 Account Fees, Best Online Platform, Superb Services, Rated #1 by The Globe and Mail
4.6 / 5
Free to buy and sell
100% FREE
Best Big Bank Brokerage: Excellent Platform. A+ Globe and Mail Rating. Good Convenience. High Fees.
The Best Cryptocurrency Trading Platforms in Canada: A Comprehensive Guide
The cryptocurrency landscape in Canada is dynamic and highly regulated, making the choice of a trading platform critical for both security and compliance. Unlike the largely unregulated early days, crypto trading platforms operating within Canada are now required to register as Money Service Businesses (MSBs) and comply with strict regulations concerning anti-money laundering (AML) and know-your-customer (KYC) protocols, primarily enforced by the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) and various provincial securities regulators, notably the Ontario Securities Commission (OSC).
Choosing the “best” platform depends on a trader’s priorities: fees, available assets, security features, and overall ease of use. This guide details the top choices, segmented by their target audience.
The Regulatory Landscape: Security and Compliance
Canadian crypto exchanges must navigate a complex regulatory structure. In 2021, the Canadian Securities Administrators (CSA) and Investment Industry Regulatory Organization of Canada (IIROC) mandated that platforms offering contracts for difference (CFDs) or other financial instruments related to cryptocurrencies must register as investment dealers or face enforcement action. This has created a more secure, albeit sometimes more restrictive, environment for Canadian traders. Platforms that comply are generally viewed as the safest options.
Top Cryptocurrency Trading Platforms for Canadians
Here is a comparison of leading platforms catering to Canadian users, evaluated based on compliance, fees, features, and target user experience.
1. The Best for Beginners and Simplicity: Wealthsimple Crypto
Wealthsimple, primarily known for its registered investment accounts (RRSP, TFSA), offers a simple, highly compliant portal for buying and selling cryptocurrencies.
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Ease of Use: Unparalleled simplicity. The platform is designed for casual investors who prioritize seamless integration with their existing Canadian financial accounts.
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Security & Compliance: Fully compliant with Canadian securities law, as it operates under the broader Wealthsimple ecosystem which is IIROC-regulated. This offers a high degree of trust and consumer protection, especially regarding tax reporting (T5 slips).
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Fees: There are no explicit commission fees, but the cost is built into the spread, typically ranging from to per transaction.
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Assets: The selection is intentionally limited (around 60 major coins like BTC, ETH, SOL, ADA), focusing on established, high-cap assets.
2. The Best for Advanced Traders and Low Fees: Kraken
Kraken is a global powerhouse that offers robust services to the Canadian market, known for its professional-grade features and highly competitive fee structure for active traders.
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Professional Features: Provides advanced order types (limit, stop, margin trading for eligible users), detailed charting tools, and APIs for automated trading.
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Fees: Kraken’s tiered fee structure is highly competitive. Maker fees (for adding liquidity) start as low as , and taker fees (for removing liquidity) start at and drop significantly with higher trading volume, making it superior for high-frequency trading.
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Security: Known for its stringent security protocols, including holding the vast majority of assets in geographically distributed cold storage. It is FINTRAC registered.
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Assets: A wide array of altcoins (250+), including rare pairs, making it ideal for seasoned traders looking beyond the top 10 coins.
3. The Best for Low-Cost, Simple Funding: Newton
Newton positions itself as a low-cost, easy-to-use alternative to traditional exchanges, emphasizing transparency regarding transaction costs.
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Zero Commission: Newton advertises “zero commission” trading. Like Wealthsimple, the cost is incorporated into the spread, but their spreads are often tighter than competitors, typically around .
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E-Transfer Integration: Known for its excellent support for Canadian banking methods, offering instant funding and withdrawals via Interac e-Transfer with high limits.
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Security: Registered with FINTRAC, providing confidence that the platform follows Canadian AML/KYC laws. Assets are held in cold storage custody provided by Balance, a Canadian institutional crypto custodian.
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Assets: A focused selection of approximately 70 assets, balancing variety with security vetting.
4. The Best for Global Access and High Liquidity: Coinbase
Coinbase is one of the world’s most recognized exchanges, offering an accessible entry point for Canadian traders who also want access to a vast global market and high liquidity.
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User Experience: The platform’s standard interface is extremely intuitive, making it a favorite for new users globally. It is simple to connect bank accounts and start trading.
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Liquidity: High liquidity for major pairs (BTC/CAD, ETH/CAD) due to its massive global user base, which is crucial for large trades.
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Fees: Fees can be high for simple transactions, often structured as a flat fee plus a spread, which can be expensive for small, frequent trades. However, the advanced platform, Coinbase Pro (or the consolidated Coinbase Advanced), offers much lower maker/taker fees.
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Compliance: Coinbase is FINTRAC registered, operating within Canadian regulatory bounds.
5. The Specialized and High-Risk Option: Binance
While Binance is the world’s largest exchange by trading volume and offers the most competitive fees and widest asset selection, its operational status in Canada has been subject to ongoing regulatory scrutiny and restrictions.
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Regulatory Warning: The OSC has previously warned that Binance is not registered to offer securities or contracts to persons or companies resident in Ontario. Using unregistered platforms carries significant risks, including lack of regulatory recourse and potential fund loss.
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Features: Offers unparalleled depth, including high leverage trading, futures, and hundreds of altcoins not available on compliant Canadian platforms.
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Fees: Maker/taker fees are extremely low, often below , making it very attractive for volume traders willing to accept the regulatory risk.
Security and Fund Management for Canadian Traders
Regardless of the platform chosen, Canadian traders must prioritize security:
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Two-Factor Authentication (2FA): Always enable 2FA, preferably using an authenticator app (like Google Authenticator or Authy) rather than SMS.
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Cold Storage (Hardware Wallets): For any significant amount of crypto, especially large long-term holdings, the best practice is to withdraw the assets from the exchange and store them in a personal hardware wallet (e.g., Ledger, Trezor). This is the only way to retain full control of the private keys.
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Insurance and Custody: Verify the platform’s custody solution. Many compliant Canadian platforms use third-party institutional custodians (like Balance) that offer insurance on the custodial funds. However, this insurance usually only covers breaches of the custodian, not market losses or user errors.
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Final Recommendation
The “best” choice is highly dependent on the user profile:
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For the Beginner/Casual Investor: Wealthsimple Crypto is the safest, simplest, and most integrated option for Canadian finances and tax reporting.
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For the Active/Professional Trader: Kraken or the advanced tiers of Coinbase offer the best combination of low fees, advanced features, and strong global security, all while maintaining Canadian registration.
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For Low-Cost and Fast Funding: Newton provides a compelling balance of low spreads and excellent Interac e-Transfer support.
Always prioritize FINTRAC registration and IIROC/OSC compliance to ensure your funds and trading activities remain within the safe and legal boundaries established by the Canadian financial authorities.