Canada has experienced steady growth in cryptocurrency adoption, with forecasts predicting over 13 million crypto users by 2025. This guide evaluates the top crypto brokers and exchanges for Canadian traders, covering regulations, fees, available coins, and trading features.
Top 8 Crypto Brokers in Canada
1. IC Markets
Rating: 4.8 ⭐
Min. Deposit: $200
Regulations: CySEC, ASIC, FSA, SCB, CMA
Tradable Coins: 20+
Platforms: MT4, MT5, cTrader, TradingView
Crypto Leverage: 1:200 (MT4/5), 1:5 (cTrader/TradingView)
Fees: No commissions on crypto CFDs; BTC/USD spread from 2.210 pips.
Deposit Methods: Visa, Mastercard, PayPal, Wire Transfer, Skrill.
Pros:
- Supports MetaTrader and alternative platforms.
- High leverage for MT4/5 users.
Cons:
- Not available in Ontario or British Columbia.
2. Fusion Markets
Rating: 4.7 ⭐
Min. Deposit: $0
Regulations: ASIC, VFSC
Tradable Coins: 13
Platforms: MT4, MT5, TradingView
Crypto Leverage: 1:10
Fees: 0.6% Bitcoin trading fee; tight spreads.
Pros:
- No minimum deposit.
- Fast verification.
Cons:
- Limited educational resources.
3. Eightcap
Rating: 4.2 ⭐
Min. Deposit: $50
Regulations: ASIC, CySEC
Tradable Coins: 12
Platforms: MT4, MT5, TradingView
Crypto Leverage: 1:20
Fees: No commissions; BTC/USD spread from 170 pips.
Pros:
- AI-powered economic calendar.
- Free deposits/withdrawals.
Cons:
- Customer support available 24/5.
Top 3 Crypto Exchanges in Canada
1. Kraken
Tradable Coins: 430+
Fees: 0.25% maker / 0.40% taker (spot).
Deposit Methods: Interac, Wire Transfer, Canada Post.
Pros:
- CAD support.
- High liquidity.
Cons:
- Margin trading restricted in Ontario.
2. MEXC
Tradable Coins: 2,800+
Fees: 0% spot maker fee.
Pros:
- Low fees.
- Extensive coin selection.
Cons:
- No CAD support.
3. Coinbase
Tradable Coins: 240+
Fees: 0.05%–0.60% taker.
Pros:
- Regulated.
- Interac support.
Cons:
- Higher fees for retail traders.
FAQ Section
Q: Are crypto brokers compatible with smartphones?
A: Yes, most offer iOS/Android apps.
Q: What payment methods can Canadians use?
A: Interac, Visa/Mastercard, PayPal, Wire Transfer.
Q: Is margin trading allowed in Canada?
A: Restricted in Ontario; permitted elsewhere.
Q: Can I trade crypto 24/7?
A: Yes, except on brokers with weekday-only support.
Q: Are profits taxed?
A: Yes—50% capital gains tax for retail traders.
Final Thoughts
Choosing the right platform depends on your needs:
- Brokers: IC Markets (high leverage), Fusion Markets (low fees).
- Exchanges: Kraken (CAD support), MEXC (low spreads).