10 Best Crypto Exchanges in Ontario After Binance Exit

Canadian cryptocurrency investors were left wondering where they Best Crypto Exchanges in Ontario After Binance Exit. Thankfully, a number of reputable and regulated exchanges have risen to the occasion, providing a blend of platforms that are easy to use, secure, and varied.

These exchanges, which range from Canadian favorites like Wealthsimple, NDAX, and Shakepay to industry veterans like Kraken and Coinbase, offer dependable access to cryptocurrencies, affordable fees, and OSC compliance, making them the best options available in Ontario right now.

1. Kraken

Alongside Exchange Coins, Kraken also provides trading in over 400+ cryptocurrencies. Kraken’s maker fees start at 0.16% while the taker fees start at 0.26%. These fees make Kraken one of the cheapest exchanges for active traders.

Money can be deposited using Interac e-Transfer, wire transfers, and crypto. Staking and security are also some great features of Kraken, making it simple and attractive for inexperienced investors, while also remaining safe and advanced for those more experienced.

Kraken has also earned itself a safe and reliable position in the market, despite high levels of competition, further boosted by the recent exit of Binance from Ontario. For all of these reasons, Kraken is one of the best crypto exchanges in Ontario.

Kraken

• Founded: 2011
• Cryptocurrencies: 400+
• Fees: Maker 0.16%, Taker 0.26% (from 0.25%/0.40%)
• Deposit Methods: Interac e-transfer, wire transfer, crypto deposits

Pros:

• High security with advanced protocols
• Wide cryptocurrency selection
• Staking and advanced trading tools available
• Regulated and trusted in Canada

Cons:

• Interface can be complex for beginners
• Occasional slow verification times
• Fees slightly higher for small trades

2. Wealthsimple Crypto

Wealthsimple Crypto has a selection of just over 100 cryptocurrencies, with major cryptos like BTC and ETH. Their fees (0.5% – 2%) are a little pricey but it comes with the all the ease of use of Wealthsimple. Canadians can easily and quickly deposit with bank transfers or Wealthsimple Cash accounts.

Wealthsimple is aimed at those looking for a simple and clean design with no complex little buttons for different order types.

With Binance shutting down operations within Ontario, Wealthsimple has become a better choice for those just starting out, making it one of the top crypto exchanges in Ontario post Binance.

Wealthsimple Crypto Key Point

• Founded: 2017
• Cryptocurrencies: 100+
• Fees: 0.5% to 2%
• Deposit Methods: Bank transfers, Wealthsimple Cash

Pros:

• Very beginner-friendly interface
• Fully regulated in Canada
• Integrated with Wealthsimple ecosystem (investing, savings)
• Quick deposits and withdrawals

Cons:

• Smaller cryptocurrency selection
• Higher fees compared to other exchanges
• Limited advanced trading features

3. Coinbase

Coinbase has a large selection with over 250 cryptocurrencies and its user friendly interface and educational features make it a top choice. Maker fees starting at 0.40% and taker fees at 0.60% are some of the better rates available for casual traders.

Coinbase is great for beginners on a trusted, regulated platform where they can deposit quickly. Following the departure of Binance, Coinbase distinguished itself with excellent security and a great mobile app for staking and crypto trading, elevating it among the top crypto exchanges in Ontario for beginners and moderate traders.

Coinbase Key Point

• Founded: 2012
• Cryptocurrencies: 250+
• Fees: Maker 0.40%, Taker 0.60%
• Deposit Methods: Interac e-transfer, wire transfer, crypto transfers

Pros:

• Easy-to-use interface for beginners
• Strong security and insurance coverage
• Educational resources and tutorials
• Mobile app support with staking options

Cons:

• Higher fees for casual trading
• Limited availability of lesser-known altcoins
• Customer support can be slow

4. Crypto.com

Crypto.com has over 400 cryptocurrencies, and accommodates frequent traders with low fees from 0.25\% maker and 0.50\% taker. Deposits can be made via interac e-transfer, bank wires, and crypto wallets.

Crypto.com has a Visa card that can be used to spend crypto. It also has features that cater to users interested in staking, DeFi products, and rewards programs.

Since Binance has exited the Ontario crypto trading market, Crypto.com is now among the best crypto exchanges in Ontario. It is especially suitable for users who want features that combine trading, lending, and spending a lot of money.

Crypto.com Key Point

• Founded: 2016
• Cryptocurrencies: 400+Fees: Maker: 0.25%, Taker: 0.50%
• Deposit Options: Cryptocurrency wallets, wire transfer, Interac e-transfer

Pros:

• Crypto card is available
• DeFi, staking, and rewards programs available
• Low trading fees
• Wide range of available cryptocurrencies

Cons:

• Beginners may find the interface complicated
• Varied withdrawal fees
• CRO native token is required to access some features

5. Bitbuy

Bitbuy is a Canadian exchange with over 60 cryptocurrencies, including the major coins BTC, ETH, and LTC. It has a trading fee of 0.5\% per trade, which is considered competitive. Deposits can also be made through interac e-transfer, and wire and bank draft transfers.

Bitbuy is suitable for Canadians who want a regulated exchange that offers local support. It has a simple trading interface, which can be appealing to those who prefer that over the alternative of more complex trading interfaces.

With Binance’s exit from the market, Bitbuy is also among the popular and best crypto exchanges in Ontario for traders who want to feel safe, and also for traders who want to trade without complicated steps.

Bitbuy Key Point

• Established: 2013
• Available Cryptocurrencies: 60+
• Fees: 0.5%
• Deposit Options: Wire transfers, Interac e-transfers, bank drafts

Pros:

• Quick and easy deposits
• Reliable and regulated in Canada
• Trading is straightforward on the platform
• Support is decent for Canadians

Cons:

• Less available cryptocurrencies
• There are no advanced trading features
• Frequent traders pay slightly higher fees

6. NDAX

NDAX (National Digital Asset Exchange) has over 60 cryptocurrencies that have fees that are very low at 0.2%, which are good for active traders. They offer Canadian users flexibility with funding options like interac e-transfer, wire transfer, and crypto deposit.

NDAX is best for high-volume traders and traders seeking low-cost options. Due to its regulated and safe operational structure, NDAX has become one of the best crypto exchanges in Ontario after Binance exit, especially for low-cost traders looking for local exchanges, and for traders who prefer low-cost options with local exchanges and advanced options.

NDAX Key Point

• Established: 2018
• Available Cryptocurrencies: 60+
• Fees: 0.2%
• Deposit Options: Crypto deposits, wire transfers, Interac e-transfer

Pros:

• Low trading fees
• Regulation and security is strong
• Experienced users get advanced trading features
• Support is available in Canada

Cons:

• Less available cryptocurrencies
• The interface is challenging for beginners
• The verification process may be lengthy

7. Newton

Newton has 70+ cryptocurrencies, and fees are a tad higher at 1% to 1.6%, however, its fees are less than most exchanges because they are transparent and have no hidden fees.

Canadian users have the ability to easily fund their accounts since they offer funding options like interac e-transfer and bank wires. For users who want to trade easily without complex interfaces**, Newton is a great option.

Newton Key Point

• Established: 2018
• Available Cryptocurrencies: 70+
• Fees: 1% to 1.6%
• Deposit Options: Wire transfer, Interac e-transfer

Pros:

• The interface is user-friendly
• Fees are clear
• Regulation in Canada is obtained
• Instant deposits and withdrawals

Cons

• Increased costs relative to some rivals
• Fewer crypto currencies available
• Basic trading functions only

8. Shakepay

Shakepay focuses on BTC, ETH, and USDC and offers no commission trading. Cost are built into the trading spread. Canadians can deposit using interac e-transfer or wire transfers. Shakepay is ideal for Canadians looking for quick transactions with no fees, and easy access through an app.

The mobile-dominant design makes the app great for new investors and those trying out investing. With Binance leaving, Shakepay has become one of the top choices for crypto exchanges in Ontario for those wanting speed and cost effective crypto purchases, and easy conversions of crypto to cash.

Shakepay Key Point

• Established 2015
• Cryptocurrencies BTC, ETH, USDC
• Fees Spread included
• Deposit methods Interac e-transfer, wire transfer

Pros

• Trading fees not charged
• Platform is simple and transactions are quick
• Mobile giant
• Perfect for those new to trading

Cons

• Number of available coins is small
• Limited trading features
• No staking and no access to decentralized finance

9. Coinsquare

With 60+ listing cryptocurrencies, Coinsquare is transparent with its fee-included-in-spread model, making it easy for beginners. Canadians can deposit through interac e-transfer, wire transfer, and crypto transfer.

Coinsquare is best for Canadians looking for a regulated and secure trading platform, to trade in a simple, straightforward manner. After Lookonchain revealed trading volume, Coinsquare gained the reputation of being one of the best crypto exchanges in Ontario, particularly for those placing value on regulatory adherence, simple processing, and effective customer support.—

Coinsquare Key Point

• Established 2014
• Cryptocurrencies 60+
• Fees Spread included
• Deposit methods Interac e-transfer, wire transfer, crypto deposits

Pros

• Secure and regulated
• Simplified for beginners
• Support for Canadian dollars
• No hidden fees

Cons

• Fewer crypto currencies available
• Basic trading functions only
• High spreads relative to low-fee exchanges

10. VirgoCX

VirgoCX offers support for 90+ cryptocurrencies, along with maker and taker fees between 0.95% and 1.6%. VirgoCX also provides Canadian clients with easy deposit methods for their crypto transactions, as clients can deposit via interac e-transfers, wire transfers, and crypto transfers.

With their altcoin selection and fiat integration, VirgoCX is best for clients wanting more variety. With Binance leaving Ontario, VirgoCX has become one of the most trusted crypto exchanges in Ontario, as they offer a safe and secure fully regulated trading experience for crypto and more options for casual traders and crypto enthusiasts alike.

VirgoCX Key Point

• Established 2018
• Cryptocurrencies 90+
• Fees 0.95% to 1.6%
• Deposit methods Interac e-transfer, wire transfer, crypto deposits

Pros

• Lots of altcoins
• Regulated and secure
• Support for both fiat and crypto deposits
• Good for intermediate traders

Cons

• Increased fees for casual trading
• Design is minimal
• Slow verification

How to Pick The Best Crypto Exchanges in Ontario After Binance Exit

Regulation & Security – Go for exchanges that are fully regulated in Canada and have solid security features like 2FA, cold-storage, and insurance on hacks or fraud to protect your funds.

Selection of Cryptocurrencies – For a good exchange, you should look for one that supports a lot of crypto coins. You will then have more options for investments.

Costs and Trading Fees – Check to see who has the best maker/taker fees, the best spreads, and the best deposits/withdrawal fees trading for short term traders and long term traders

Withdrawal and Deposit Options – Make sure you will have an easy way to fund your account with an Interac e-transfer, Wire transfers, or crypto deposits and the withdrawal options are quick.

Experience & Interface of the User – Go for the exchanges that have good user experience, good mobile applications, and good trading features so that trading is seamless for you.

Support for Customers – Choose the exchange with good support options so that you can get your issue resolved quickly, especially with your funds or fund accessibility problems.

Developed Trading Features – Look for margin trading, staking, or DeFi trading integrations if you want to facilitate opportunity for profit generating activities beyond simple buy/sell functions.

Trust Rating & Reviews – Familiarize yourself with the user’s voting, reviews online, and the trust rankings of the exchange within Canada.

Mobile and App Access – For frequent trading with position alerts, quick trading, and portfolio monitoring, an accessible app is necessary for trading or portfolio monitoring.

Withdrawal Liquidity and Limits – Look for thresholds on the exchange’s daily trades and liquidity. This is to ensure you have quick access to funds, as well as to facilitate the trading of larger amounts of money.

Why are so many crypto exchanges banned in Ontario?

Many crypto exchange registrations are either banned or restricted in Ontario because of their inability to meet regulatory compliance and investor protection. Here’s a short summary of how it works:

Regulations of the Ontario Securities Commission (OSC)

• Some crypto assets and Exchanges are considered securities or derivatives platforms by the OSC in line with Canadian legislation.
• Exchanges have to register as a marketplace with the OSC which means they will be liable to be covered by additional reporting, know your customer (KYC), and anti-money laundering (AML) frameworks.
• Some overseas exchanges like Binance, have opted to not comply with those regulations and therefore have either left or are currently banned.

Investor Protection Measures

• Ontario regulations are aimed to protect the user by Minimizing the exposure to fraud, hacks, and market manipulation.
• Some exchanges, especially newer ones, consider this an added to the cost of the operation or an unnecessary complication

AML/KYC Policy

• Ontario has enacted legislation that calls for much stricter KYC and AML policies and are more concerned with the records that are kept of individual users.
• Fast and loose offshore or internationally dominant platforms operate outside the limits imposed for Ontario users.

Enforcement Actions

• The OSC has placed unauthorised trading platforms in Ontario under Warnings, Fines or bans
• This is to keep users trading on strictly regulated platforms such as Kraken, NDAX and Wealthsimple.

Risks of Losing Money Due to Regulatory Fines

• Exchanges operating in Ontario without having the correct registrations face legal penalties. This makes it less financially viable to remain in the jurisdiction.

Conclusion

With Binance leaving, Ontario’s crypto trading market is now focusing on regulated, safe, and compliant exchanges. Kraken, Wealthsimple, Coinbase, and NDAX stand out for their strong security, compliance with OSC, and transparent fees.

Data shows Canadian users prefer exchanges offering a large variety of cryptocurrencies (60–400+ coins) and low trading fees (0.2–0.5% for most) with several deposit methods.

Investor protection, AML/KYC compliance, and regulated exchange status are still the most important considerations for users when selecting an exchange. Ontario traders now have a choice of regulated exchanges, making crypto trading a lot safer after the many exchange restrictions.

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