investing
NDAX Review 2026: Canada's Best Crypto Exchange Tested
Last updated:
NDAX (National Digital Asset Exchange) is the cheapest CIRO-regulated crypto exchange in Canada for active traders in 2026. Trading fees are a flat 0.2% maker/taker — roughly half what Newton, Shakepay, or Bitbuy effectively charge through spreads. After 12 months of testing including ~$80,000 of trading volume, here’s the honest review.
Quick answer: NDAX is the best Canadian crypto exchange for anyone making more than 2-3 trades per month. The fee savings alone justify the slightly more technical interface. Sign up at ndax.io — first $100 deposit qualifies you for any current welcome bonus.
NDAX at a glance
| NDAX | |
|---|---|
| Trading fees | 0.2% maker / 0.2% taker |
| Cryptocurrencies supported | 50+ |
| Regulation | CIRO-regulated, registered with CSA |
| Custody insurance | BitGo + Knox Custody (institutional cold storage) |
| CAD deposit fee | $0 (Interac e-Transfer + EFT) |
| CAD withdrawal fee | $0 (EFT) |
| Crypto withdrawal fee | Network gas only (no markup) |
| Minimum deposit | $50 CAD |
| Mobile app | Yes (iOS + Android) |
| Staking | Yes (ETH, SOL, ADA, DOT, ATOM, MATIC, more) |
| Year operating in Canada | Since 2018 |
Fees compared to other Canadian crypto exchanges
NDAX’s 0.2% fee is the single biggest reason to use it. Most other Canadian exchanges hide the cost in a spread (the difference between buy and sell prices) which obscures the true fee.
| Effective fee | Annual cost (24 trades) | |
|---|---|---|
| NDAX | 0.2% (~$20) | ~$480 |
| Bitbuy | 0.5% (~$50) | ~$1,200 |
| Newton | ~0.5-1% spread (~$50-$100) | ~$1,200-$2,400 |
| Shakepay | ~1.5% spread (~$150) | ~$3,600 |
| Coinbase Canada | ~1.49% + spread (~$150-$250) | ~$3,600-$6,000 |
What I liked after 12 months of using NDAX
- Lowest fees in Canadian regulated crypto. Period. 0.2% is the cheapest you’ll find at a CIRO-regulated exchange.
- Genuine custody insurance. BitGo and Knox Custody provide institutional-grade insurance on cold storage. Most Canadian exchanges have less robust custody.
- Free Interac deposits and withdrawals. $0 to move CAD in and out — no other Canadian exchange does this on both sides for free.
- Strong staking lineup. ETH, SOL, ADA, DOT, MATIC, ATOM all stake natively. 10-25% commission on rewards is fair.
- No mandatory KYC limits below $10K/day. Many Canadian exchanges restrict transactions below verified-identity thresholds. NDAX is more permissive within the CIRO framework.
What I didn’t like
- The interface is more “exchange-like” than “consumer app-like.” If you’ve never traded crypto before, expect a 30-minute learning curve. The order book, limit-order types, and charts will be unfamiliar.
- Smaller altcoin selection vs Coinbase. ~50 coins is enough for most Canadian crypto buyers, but if you want obscure DeFi tokens, NDAX won’t have them.
- Customer support is email-only. No live chat. Email responses typically come within 24 hours, which is acceptable but not best-in-class.
- Slower onboarding than Shakepay. Verification can take 1-3 business days. Shakepay verifies in minutes.
Who NDAX is best for
NDAX is the right choice if you:
- Make 2+ crypto trades per month
- Care about fees more than UI polish
- Want to hold or trade $5,000+ in crypto
- Want to stake major assets (ETH, SOL, ADA)
- Want fee transparency (no spread games)
Skip NDAX and use Shakepay or Newton instead if you:
- Are buying your first $100 of crypto
- Want a beginner-friendly app
- Only plan 1-2 trades per year (the fee difference is too small to matter)
- Want stack-sats automatic recurring buys
How NDAX makes money
Like all CIRO-regulated crypto exchanges, NDAX makes money from:
- Trading fees (0.2% maker/taker)
- Spread on certain order types (limited — most NDAX trades are at near-spot)
- Staking commissions (10-25% of staking rewards)
- Wire transfer fees ($25 for >$10K instant wires)
- Interest on CAD float held at Canadian banks
That’s it — no payment for order flow, no kickbacks from market makers (CIRO regulations prohibit this in Canada).
Is NDAX safe?
Yes. NDAX is regulated by CIRO (formerly IIROC) as a restricted dealer, registered with the Canadian Securities Administrators (CSA), and member of the Money Services Business (MSB) registry under FINTRAC for AML compliance. Customer crypto is held in cold storage with BitGo and Knox Custody, both providing institutional-grade insurance. Customer CAD funds are held at Canadian Schedule I banks (e.g., Olympia Trust).
NDAX has been operating since 2018 with no security breaches affecting customer funds.
That said: crypto exchanges are not CDIC-insured the way banks are. If NDAX failed, customer crypto in custody would be recovered through the insolvency process — not through a depositor insurance scheme. This is the same situation as every Canadian crypto exchange. The safest practice for large balances ($25K+) is to withdraw to your own hardware wallet (Ledger, Trezor) and only keep trading balances on exchange.
Bottom line
NDAX is the cheapest CIRO-regulated Canadian crypto exchange and the best choice for any Canadian making more than 2-3 crypto trades per year. The 0.2% fee structure saves $500-$3,000+ per year compared to Shakepay or Coinbase on typical retail trading volumes.
Sign up: ndax.io
Frequently asked questions
Is NDAX safe in Canada?
Yes. NDAX is registered with the Canadian Securities Administrators and operates as a restricted dealer under CIRO oversight. Customer crypto is held in cold storage with BitGo and Knox Custody, both providing institutional-grade insurance. Customer CAD funds are held at Canadian Schedule I banks (e.g., Olympia Trust). NDAX has been operating since 2018 with no security breaches affecting customer funds to date.
What are NDAX's trading fees?
NDAX charges a flat 0.2% maker and 0.2% taker fee on every trade. This is the lowest fee structure among CIRO-regulated Canadian crypto exchanges in 2026. Compare to: Newton (spread-based, ~0.5-1% effective fee), Shakepay (no per-trade fee but ~1.5% spread), Bitbuy (0.5%/0.5% maker/taker). For active traders, NDAX's 0.2% saves $300+ per year on $50K of trading volume vs Shakepay's spread.
Does NDAX have deposit or withdrawal fees?
CAD deposits are FREE via Interac e-Transfer (instant, up to $10K/day) and EFT (1-3 business days, no limit). CAD withdrawals to your Canadian bank are FREE via EFT. Wire transfers (for >$10K instant) cost $25. Crypto withdrawals to external wallets cost the network gas fee (e.g., ~$3 for Bitcoin on the Lightning Network, ~$10 for Ethereum during normal congestion).
Does NDAX support staking?
Yes — NDAX offers staking for Ethereum, Solana, Cardano, Polkadot, Cosmos, Polygon, and several other proof-of-stake chains in 2026. Staking rewards range from 3-12% APY depending on the network. Staked tokens have variable unbonding periods (Ethereum is 1-3 days, Solana is ~2 days, Cardano is ~5 days). NDAX takes a 10-25% commission on staking rewards depending on the asset, which is competitive with other Canadian exchanges.
How does NDAX compare to Newton, Shakepay, and Bitbuy?
NDAX is best for ACTIVE TRADERS who want low fees + advanced order types. Newton and Shakepay are better for beginners who want a simple buy/sell flow. Bitbuy sits between the two. Fee comparison on $10,000 BTC purchase: NDAX = ~$20 in fees, Bitbuy = ~$50, Newton = ~$50-$100 spread, Shakepay = ~$150 spread. For long-term buy-and-hold, the savings compound dramatically.
Can I move my crypto to a self-custody wallet from NDAX?
Yes. NDAX supports withdrawals to external wallets (your hardware wallet like Ledger, Trezor, or any compatible software wallet). The withdrawal process takes 5-30 minutes for most cryptocurrencies plus the network confirmation time. Network fees apply (gas) but NDAX does not charge any markup beyond the actual network cost.
Is there an NDAX mobile app?
Yes. NDAX has Android and iOS apps with full trading functionality. The app supports limit orders, stop-loss orders, charting, portfolio tracking, and 2FA. Most active NDAX users do their trading on the desktop web platform (richer charts) and the app for monitoring + small follow-up trades.
Does NDAX support Canadian RRSP or TFSA accounts?
No. NDAX is a non-registered crypto exchange — you cannot hold crypto in a TFSA or RRSP through NDAX directly. If you want crypto inside registered accounts, you'd need to buy a crypto ETF (e.g., BTCC, ETHX) through a regular brokerage like Wealthsimple Trade or Questrade. NDAX is for direct crypto ownership outside registered accounts.
Get started today
Open an account in 10–15 minutes. Both options below are commission-free for stocks and ETFs.
Wealthsimple Trade
Best for beginners — $0 commissions, $1 minimum, modern app.
Visit Wealthsimple TradeRelated posts
Post
Crypto.com Canada Review 2026: Visa Card, Fees, $50K Bonus
Crypto.com tested for Canadian users in 2026: real fees, the Visa card cashback tiers, CRO staking, and the bonus structure for new signups. Honest pros and cons.
Post
How To Buy ETFs In Canada (2026): Step-By-Step Guide
How to buy ETFs in Canada in 2026: open a brokerage account, fund it, search for the ETF ticker, and place your order. Plus the best ETFs to start with.
Post
How To Invest In Canada 2026: 5 Steps For Beginners
How to start investing in Canada in 2026: open a TFSA, fund it, buy XEQT, and automate. Real broker recommendations, account types, and first-investment picks.
Post
How To Open A TFSA In Canada 2026 (10-Minute Guide)
Step-by-step guide to open a TFSA in Canada in 2026: eligibility, the best brokers, what you need, and how long it takes online.