Coinfield Vs NDAX: Which Is Better For Canadians In 2026?

How Do Coinfield And NDAX Compare, Fact By Fact?

Every row below comes from each company’s own pages and the Canadian registries, checked October 2026. Where a row has no fair winner, it says so.

What Are The Key Differences Between Coinfield And NDAX?

How Do You Fund And Cash Out Coinfield And NDAX In Canada?

Platform closed in 2023. Never send funds to a site using the CoinField name. Bank-side Interac and wire limits apply. Account name must match your bank account. Weekend timing: Not published; wire speed is subject to bank hours.

What Does It Actually Cost To Buy On NDAX?

NDAX: Flat 0.20% of trade value on every buy and sell, no tiers (fees page checked 2026-10-03). Withdrawal fees are extra and flat. Ranges reflect each platform’s published band, not a single quote. Bank and network fees are not included.

What Do Coinfield And NDAX Offer Beyond Buying And Selling?

NDAX Only

• Staking and Auto Earn: Opt-in rewards on supported assets. NDAX keeps 20% of rewards as an administration fee; the homepage advertises staking up to 13% APY.
• OTC desk: Over-the-counter trading for large orders; terms and minimums are not published on the pages I could open.
• API trading: Programmatic trading API, and a public instrument feed that lists the coins available.
• Internal transfers: Transfers between NDAX accounts, including gift transfers, settle instantly at no cost.

What Happens To Your Money If Coinfield Or NDAX Fails?

Coinfield: Coinfield is the failure case: the platform shut in 2023 without meeting customer withdrawal requests, and the tribunal found it lacked the crypto assets to satisfy them. The sanctions are a permanent Ontario market ban, a CAD 2.4M penalty, CAD 537,034.46 disgorgement and CAD 89,538 costs. No CIPF or other scheme covers crypto, so affected customers should watch for official notices and ignore anyone offering paid recovery.

NDAX: NDAX is a CIRO investment dealer, so CIPF protects the CAD cash you hold there, but the user agreement says no virtual asset in your account is eligible for CIPF or CDIC protection. Most assets sit in cold storage with trust-company custodians in omnibus accounts, and NDAX has a SOC 2 Type 2 audit, but it publishes no insurance amount and no proof of reserves. A hack, a custodian failure or an insolvency can still hurt crypto balances. Withdraw to your own wallet if you hold coins for the long term.

How Are Coinfield And NDAX Treated For Tax In Canada?

Coinfield: Trades on Coinfield were dispositions for CRA purposes. Keep your records, and speak to an accountant about any crypto you could not withdraw. Export formats: Not published.

NDAX: Each sale, swap and staking reward event is a disposition or income for CRA purposes, and staking rewards are income at the value received. NDAX provides CSV ledger reports and a Koinly API link but no CRA-ready report.

Selling, swapping or spending crypto is a disposition for the CRA on any platform. This is not tax advice: see my guide to crypto taxes in Canada.

Which Should You Choose, Coinfield Or NDAX?

Choose Coinfield If

• You want a registered platform that serves Canadians today: Coinbase is our number one replacement, with free Interac e-Transfer funding and a Canadian restricted dealer registration.

Choose NDAX If

• You want a low flat 0.20% fee and a wide list of CAD-paired coins.
• You want a CIRO-registered exchange that lists dozens of CAD pairs.
• You want staking, an OTC desk or API access.
• You mostly buy and hold and rarely cash out, since CAD withdrawals cost CAD 1.50 to 4.99.

What Happened To Coinfield?

Coinfield was an Estonia-based exchange, run by Manticore Labs OU with a Canadian arm called Manticore Labs Inc., that began serving Canadians in 2018. It shut down in 2023. In January 2025 Ontario's Capital Markets Tribunal permanently banned its operators from Ontario's markets and ordered a CAD 2.4 million administrative penalty.

The tribunal also ordered CAD 537,034.46 in disgorgement and CAD 89,538 in costs, according to the tribunal decision and advisor.ca. The record shows at least 1,275 Ontario clients held about CAD 2.5 million on the platform at the end of 2022. The regulator's central complaint was that Ontario users could not withdraw.

On the registration side, Coinfield is not on the CSA list of authorized platforms. FINTRAC shows its money services business registration for Manticore Labs OU as revoked on November 10, 2023, and two earlier Coinfield registrations as ceased in 2021 and 2019. It does not appear on the CSA banned list page either, but the tribunal order is the stronger record.

For more detail, see my Coinfield page. I do not link to Coinfield for sign-ups, because it is not an option for Canadians.

What Should Coinfield Users Use Instead?

The short answer is NDAX, the other half of this match-up. It is available to Canadians, and it is people who trade often enough to care about a flat low fee and want cheap cash-outs.

How Much Does NDAX Cost, And How Do You Fund It?

Since Coinfield cannot be compared on current fees, here is what NDAX charges today, taken from its own published pages.

Is NDAX Safe For Canadians?

Ndax Canada Inc. is an investment dealer with CIRO membership terms imposed on December 19, 2024, the same day as its CSA decision. It also holds a FINTRAC registration.

NDAX describes cold and hot wallet storage, multi-signature authorization and MPC protection. No insurance dollar figure or proof of reserves appeared on the pages I read. Staking is opt-in with a 20% administration fee on rewards.

The app rates 4.75 on the Canadian Apple App Store from 15,225 ratings, and 4.7 on Google Play from 5.85K reviews.

Whichever platform you use, I still say the same thing: do not keep more on an exchange than you are prepared to lose, and move long-term holdings to your own wallet.

Who Should Choose NDAX?

NDAX suits people who trade often enough to care about a flat low fee and want cheap cash-outs. It is a weaker fit if you need something its list or fee structure does not cover: smaller coin list at 77 assets, and no derivatives or margin for Canadians.

Not sure which platform fits you? Take my 60-second quiz or see my full ranking.

What Should You Do If You Still Have Something With Coinfield?

Coinfield: If you still had money on Coinfield, the Ontario tribunal's January 2025 decision is the public record to read, and it is the place to start for anything about recovery. I would not deposit anything into a site that uses the Coinfield name today. The original platform is gone.

A simple rule applies after any platform change: keep your own records of every purchase, because the CRA treats crypto as a commodity and you need the history for your tax return.