Best crypto exchanges for Canadians: Cryptocurrency trading has gained immense popularity in Canada, with more investors looking for reliable platforms that offer competitive fees, tight spreads, and strong security. One of the most critical factors for traders is low spreads, as they significantly impact profitability, especially for high-frequency and day traders.
In this comprehensive guide, we’ll explore the best crypto exchanges for Canadians with low spreads, comparing their features, fees, security, and supported assets. Whether you’re a beginner or an experienced trader, this guide will help you choose the right platform for your needs.
What Are Crypto Spreads and Why Do They Matter?
Understanding Spreads in Crypto Trading
The spread is the difference between the buy (ask) price and the sell (bid) price of a cryptocurrency. A low spread means the difference is minimal, reducing trading costs. Conversely, a high spread can eat into profits, especially for frequent traders.
Why Low Spreads Matter
- Lower trading costs → Better profitability
- More efficient price execution → Less slippage
- Ideal for day trading and scalping → Frequent trades benefit from tight spreads
Exchanges with high liquidity (large trading volumes) typically offer the lowest spreads.
Factors to Consider When Choosing a Crypto Exchange in Canada
When selecting a crypto exchange, consider:
✅ Low Spreads & Trading Fees – Look for platforms with tight bid-ask spreads.
✅ Liquidity – Higher liquidity = better pricing and faster trades.
✅ Supported Cryptocurrencies – Does it offer Bitcoin (BTC), Ethereum (ETH), altcoins, and DeFi tokens?
✅ Regulation & Security – Is it registered with FINTRAC or OSC? Does it offer cold storage & 2FA?
✅ Deposit & Withdrawal Methods – Bank transfers, Interac e-Transfer, credit cards, etc.
✅ User Experience – Intuitive interface, mobile app, and advanced trading tools.
✅ Customer Support – Quick response times for Canadian users.
Best Crypto Exchanges for Canadians with Low Spreads (2024)
1. Bybit – Best for Low Spreads & Derivatives Trading
- Spreads: Ultra-low (0.01% for spot trading, 0.01%/0.06% for futures)
- Fees: 0.1% spot trading, discounts for high-volume traders
- Pros: High liquidity, advanced trading tools, copy trading
- Cons: Not fully regulated in Canada (but accessible)
- Best For: Day traders, futures traders
2. Binance – Largest Global Exchange with Competitive Spreads
- Spreads: Very low (0.1% spot trading fee)
- Fees: 0.1% spot, lower with BNB discounts
- Pros: Huge liquidity, 350+ cryptocurrencies
- Cons: Limited CAD support, regulatory scrutiny in Canada
- Best For: Altcoin traders, high-volume investors
3. Kraken – Trusted Exchange with Tight Spreads
- Spreads: Low (0.16% for spot, 0.02% for Kraken Pro)
- Fees: 0.26% for instant buy, lower on Kraken Pro
- Pros: Strong security, staking, good CAD liquidity
- Cons: Higher fees for beginners
- Best For: Security-conscious traders
4. KuCoin – Low Fees & Wide Altcoin Selection
- Spreads: Competitive (0.1% spot trading)
- Fees: 0.1% spot, lower with KuCoin Token (KCS)
- Pros: 700+ cryptos, passive income options
- Cons: Not regulated in Canada
- Best For: Altcoin enthusiasts
5. NDAX – Best Regulated Canadian Exchange
- Spreads: Moderate (0.2% trading fee)
- Fees: Flat 0.2% trading fee, $4.99 withdrawal fee
- Pros: FINTRAC-regulated, secure, CAD support
- Cons: Fewer altcoins than global exchanges
- Best For: Beginners & security-focused traders
6. Bitbuy – Simple & Secure for Canadians
- Spreads: Slightly higher (0.1%-0.2% for Express Trade)
- Fees: 0.1%-0.2% for Pro Trade
- Pros: Fully regulated, insured cold storage
- Cons: Limited altcoins
- Best For: New investors
7. Wealthsimple Crypto – Commission-Free Trading
- Spreads: Higher (1.5-2% spread included)
- Fees: No commissions, but wide spreads
- Pros: Easy to use, tax-friendly
- Cons: High hidden fees
- Best For: Passive investors
8. Newton – Low-Cost Canadian Exchange
- Spreads: Low (no trading fees, spread-based pricing)
- Fees: No commissions, but small spread markup
- Pros: Free CAD deposits/withdrawals
- Cons: Limited advanced trading
- Best For: Casual traders
9. OKX – Low Fees & High Liquidity
- Spreads: Very low (0.1% spot trading)
- Fees: 0.08% for makers, 0.1% for takers
- Pros: 300+ cryptos, derivatives trading
- Cons: Not fully regulated in Canada
- Best For: Experienced traders
10. Coinbase Advanced Trading – Low Spreads for Pro Users
- Spreads: Low (0.4% for simple buy, 0.0%-0.4% for Advanced)
- Fees: 0.6% for instant buy, lower on Advanced
- Pros: Trusted, insured, easy to use
- Cons: High fees for beginners
- Best For: U.S.-listed altcoins
Comparison of Spreads and Fees Across Exchanges
| Exchange | Spot Trading Fee | Spread Type | CAD Support | Best For |
|---|---|---|---|---|
| Bybit | 0.1% | Ultra-low | Yes (via P2P) | Futures traders |
| Binance | 0.1% | Low | Limited | Altcoin traders |
| Kraken | 0.16% (Pro: 0.02%) | Low | Yes | Security-focused |
| KuCoin | 0.1% | Low | No | Altcoin selection |
| NDAX | 0.2% | Moderate | Yes | Regulated trading |
| Bitbuy | 0.1%-0.2% | Moderate | Yes | Beginners |
| Wealthsimple | 1.5-2% (hidden) | High | Yes | Passive investors |
| Newton | Spread-based | Low | Yes | Low-fee trading |
| OKX | 0.08%-0.1% | Low | No | Advanced traders |
| Coinbase | 0.4%-0.6% | Moderate | Yes | U.S. altcoins |
How to Reduce Trading Costs in Canada
- Use limit orders (avoids higher market order fees)
- Trade on pro/exchange modes (lower fees than instant buy)
- Leverage fee discounts (holding exchange tokens like BNB, KCS)
- Compare spreads before executing trades
Security & Regulation of Canadian Crypto Exchanges
- FINTRAC-registered exchanges: NDAX, Bitbuy, Newton
- Global exchanges (use with caution): Binance, Bybit, KuCoin
- Security tips: Enable 2FA, use cold wallets, avoid SMS authentication
Tax Implications for Canadian Crypto Traders
- Capital gains tax applies to crypto profits (50% taxable)
- Day trading may be considered business income (fully taxable)
- Use crypto tax software (Koinly, Crypto.com Tax)
FAQs
Q: Which Canadian exchange has the lowest spreads?
A: Bybit, Binance, and OKX offer the tightest spreads, but Newton and NDAX are good for CAD users.
Q: Are global exchanges legal in Canada?
A: Yes, but some (like Binance) face restrictions. Use regulated platforms for full compliance.
Q: How do I avoid high fees in Canada?
A: Trade on pro versions (Kraken Pro, Bitbuy Pro), use limit orders, and avoid instant buy/sell.
Conclusion
Best Overall Low-Spread Exchange: Bybit (best for futures & low fees)
Best for Beginners: NDAX or Bitbuy (regulated & easy to use)
Best for Altcoin Traders: Binance or KuCoin (wide selection)
Best for Security: Kraken (strong track record)
Choosing the right exchange depends on your trading style. For lowest spreads, Bybit and Binance are top picks, while NDAX and Bitbuy are ideal for Canadians who prefer regulated platforms.
Start trading today on a low-spread exchange and maximize your profits!