5 Best Crypto Exchanges in Canada

List of Top Crypto Trading Platforms in Canada

How Does FXEmpire Choose The Top Crypto Platforms In Canada?

• Licensing & Regulation: We favored platforms registered with FINTRAC or the CSA. Compliance with federal and provincial rules means stronger legal protections and greater user transparency.
• CAD Deposit and Withdrawal Options: We checked for support for Interac e-Transfer, wire transfers, and EFT. Platforms with fast, low-fee CAD transfers offer better access and ease of use for Canadian traders.
• Security & Transparency: We prioritized exchanges with cold storage, two-factor authentication, Proof of Reserves, and regular audits. Strong security and clear disclosures are essential for protecting user funds.
• Trading Tools & Interface: We tested the overall trading experience across desktop and mobile. Platforms that offer intuitive design, technical tools, and advanced order types for all skill levels ranked higher.
• Crypto Selection: We looked at the range of supported coins, favoring platforms with a mix of major and niche tokens to give users more choice and flexibility.
• Low Fees: We reviewed trading, deposit, and withdrawal fees. Exchanges with competitive, clearly listed fees scored higher in our comparison.
• Liquidity: We analyzed trading volume and order book depth to ensure smooth execution and low slippage across key markets.
• Local User Support: We looked for platforms that accommodate to Canada-specific needs, such as French language options and support, KYC using Canadian IDs, and regulatory approval in provinces like Quebec and Ontario.
• Customer Support: We tested support quality and speed across live chat and email. Fast, helpful service is key to resolving issues efficiently.
• Tax Reporting Tools: We looked for clear, downloadable trade histories and capital gains summaries to help users stay organized during tax season.

Canada’s Best Crypto Exchanges: Comparison Table

How to Choose the Best Crypto Exchange for Canadian Traders?

What Are Canada’s Crypto Regulations?

Crypto is legal in Canada and is treated as a commodity under tax law. However, crypto exchanges must meet several layers of compliance to operate legally.

All platforms offering crypto trading, custody, or fiat transfers must register as Money Services Businesses (MSBs) with FINTRAC to comply with anti-money laundering (AML) regulations.

To serve Canadian users legally, most exchanges must also work with the Canadian Securities Administrators (CSA) and register as Restricted Dealers or Investment Dealers. This step ensures compliance with securities laws, which now apply to many crypto assets and trading activities. Some platforms also enter into a Pre-Registration Undertaking (PRU) while awaiting full approval.

Depending on the province, exchanges may also need to coordinate with local regulators like the Ontario Securities Commission (OSC). Canada’s regulatory framework is evolving, but its focus remains on investor protection, clear custody rules, and proper asset segregation.

What Crypto Taxes Do I Need to Pay in Canada, and How?

Like many countries, Canada taxes crypto as capital gains for individuals. This applies if you buy and hold crypto before selling it for a profit, whether that’s converting to fiat or swapping it for another crypto. Only 50% of your capital gains are taxable, and they’re added to your annual income and taxed at your marginal rate.

If you receive crypto through staking, airdrops, or mining, it’s taxed as income based on its fair market value in CAD at the time of receipt.

Businesses must pay business income tax if they actively trade or operate a crypto company, with all profits and losses reported on annual tax returns.

Can I Buy Crypto For My TFSA or RRSP in Canada?

No, you can’t hold actual cryptocurrencies like BTC or ETH directly in a TFSA or RRSP. These registered accounts don’t allow direct crypto ownership.

However, you can gain exposure to crypto through Canadian-listed Bitcoin or Ethereum ETFs, which are eligible for inclusion in TFSAs and RRSPs. These ETFs track crypto prices and are approved for listing on regulated exchanges, offering a way to invest indirectly through a registered account.

How Do I Choose a Safe Crypto Exchange in Canada?

When looking for a safe crypto exchange in Canada, prioritize regulatory compliance and strong security. We recommend checking for these key features:

• CSA/FINTRAC Registration: Confirms the exchange complies with Canadian regulations.
• CAD Support: Look for Interac, wire transfer, debit card, or EFT options for deposits and withdrawals.
• Robust Security: Cold storage, 2FA, and biometric authentication help protect user funds.
• Low Trading Fees: Keeps trading costs from significantly cutting into your profits.
• User-Friendly Interface: A simple, intuitive platform that works well for beginners and experienced traders.
• Proof of Reserves: Verifies the exchange holds enough assets to fully back user deposits.
• Insurance Coverage: Helps protect your assets and fiat in case of a security breach.
• Responsive Customer Support: Ensures you get timely help if you run into issues on the platform.

What Are the Main CAD Payment Methods for Crypto Exchanges?

Most Canadian exchanges support the following payment methods:

Is P2P Trading Available in Canada?

Yes, P2P trading is legal in Canada, but platforms offering it must comply with AML rules under FINTRAC and, in some cases, securities regulations enforced by the Canadian Securities Administrators (CSA).

Most mainstream exchanges in Canada do not offer P2P trading due to the regulatory complexity. However, some offshore platforms like Bitget and TapBit allow Canadian users to buy and sell crypto directly with one another using CAD and alternative payment methods.

What Fees Should You Consider When Choosing a Crypto Exchange?

When choosing a crypto exchange in Canada, watch out for these common fees:

• Trading fees: Maker and taker fees for placing or matching orders
• Deposit and withdrawal fees: For both crypto and CAD transactions
• Spread fees: Often included in Quick Buy or Sell options, where rates may be less favorable
• Interest fees: Charged when margin trading, as you pay interest on borrowed funds
• Inactivity fees: Some exchanges charge these if you don’t trade for an extended period
• Currency conversion fees: Applied when trading non-CAD pairs, though some platforms offer zero-fee promotions or discounts

How Can I Avoid Crypto Scams In Canada?

To avoid crypto scams, we recommend taking the following precautions:

• Only use FINTRAC-registered exchanges
• Double-check website URLs and enable anti-phishing codes
• Set up two-factor authentication (2FA) with an app like Google Authenticator
• Never share your password or recovery phrase with anyone
• Be skeptical of “guaranteed” returns or offers that seem too good to be true

FAQ