Coinsquare is Canada’s first regulated cryptocurrency exchange, established in 2014 and overseen by IIROC and FINTRAC. It offers a secure, fiat-native gateway (CAD and USD) for buying, selling, staking, and trading 60+ cryptocurrencies via both beginner-friendly and advanced platforms coinsquare.com+7coinsquare.com+7reddit.com+7.
💼 Key Features
- Fiat & Crypto On‑Ramp
- Deposit CAD via Interac e‑Transfer, Interac Online, bank draft, wire, and more
- Withdraw via direct bank deposit or wire transfer coinsquare.comreddit.com+5grizzle.com+5fxempire.com+5
- Trading Options
- QuickTrade: simple trades with spread (0.5–1.85%) coinsquare.com+2coinbureau.com+2banklesstimes.com+2
- Coinsquare Pro: advanced trading with maker/taker fees (0.50% flat) reddit.com+15support.coinsquare.com+15fortunly.com+15
- Security & Regulation
- 95% of assets stored offline, banking-grade security, 2FA, SSL encryption reddit.com+8banklesstimes.com+8fxempire.com+8
- Customer cash is insured by CIPF up to CA $1M and held by licensed custodians reddit.com+4coinsquare.com+4reddit.com+4
- Coin Selection & Products
- Trade 60+ cryptos and 3,000+ trading pairs grizzle.com+9coinsquare.com+9reddit.com+9
- Offers staking rewards (varies by asset)
📊 Fees & Limits
FeatureQuickTradePro TradingDepositsWithdrawalsFees0.5–1.85% spreadMaker 0.50%, Taker 0.50%*2.5% (Interac), 0.5%‑2.5% others0.5–1% for fiat support.coinsquare.com+3coinbureau.com+3fortunly.com+3grizzle.com+1fxempire.com+1Daily limitsVaries by methodVolume tiers reduce fees up to Maker 0.14% / Taker 0.05%
*Note: Pro fees decline significantly with higher monthly volume tiers reddit.com+4fortunly.com+4coinbureau.com+4.
👍 Pros
- Regulated, custodian-backed (IIROC, FINTRAC, CIPF-insured)
- Strong security practices and offline storage
- Multiple CAD funding options, including Interac
- Layered trading interfaces for both novice and advanced users
⚠️ Cons
- Higher spreads via QuickTrade compared to global exchanges
- Fee structure complexity (spreads, deposit, staking fees)
- Customer support issues—withdrawals and holds delayed maplemoney.com+4coinsquare.com+4reddit.com+4reddit.com+11reddit.com+11banklesstimes.com+11coinbureau.com+1grizzle.com+1fxempire.com+2banklesstimes.com+2maplemoney.com+2
- Past incidents: data breach in 2022 and account restrictions
Reddit users report long waits and unresponsive support:
“It took 6 weeks… no reason or explanation” reddit.com“They won’t let me withdraw ≈ $5,000 CAD… no answer” info.cashtocode.com+10reddit.com+10reddit.com+10
✅ Who It’s Best For
- Canadians valuing regulation, fiat integration, and security
- Users new to crypto who want simple CAD on-ramp plus an upgrade path
- Traders ready to pay for convenience and compliance
🚫 Who Should Consider Alternatives
- Those prioritizing low-cost trading or fast withdrawals
- Users seeking 24/7 global altcoin access (platform supports only ~60+ assets)
- Traders discouraged by support or funds-on-hold experiences
🔎 Final Take
Coinsquare is a trusted, regulated exchange tailored for Canadian users who want the confidence of compliance and fiat integration. Its security practices stand out, but higher fees and inconsistent support could be a drawback—especially compared to other Canada-based platforms (e.g., Newton, Shakepay). If you value oversight and reliability over ultra-low cost or speed, Coinsquare can be a solid choice.
Need help comparing it to Newton, Shakepay, or Binance.ca? Happy to dive into that!