Security Compliance
Newton holds 80% of client assets offline in custodial cold storage with Coinbase and the remaining 20% in hot wallets secured by Fireblocks, with crypto assets covered by an insurance policy. Customer data is stored on Canadian servers with daily offsite backups, and the platform is tested internally every month and externally every year for vulnerabilities. Mandatory two-factor authentication and direct bank integration round out fraud protection.
BitMEX's technical security record is genuinely strong: it has never been hacked, keeps all bitcoin in cold storage with multi-signature wallets, and has employees manually audit withdrawals. Its regulatory record is another matter. BitMEX and its founders pleaded guilty to violating the US Bank Secrecy Act for failing to run an anti-money-laundering program, the company was fined $100 million in January 2025, and its three co-founders were pardoned by President Trump in March 2025. Funds on the platform have historically been safe from hackers; the risk was always regulatory.
Newton holds 80% of client assets offline in custodial cold storage with Coinbase and the remaining 20% in hot wallets secured by Fireblocks, with crypto assets covered by an insurance policy. Customer data is stored on Canadian servers with daily offsite backups, and the platform is tested internally every month and externally every year for vulnerabilities. Mandatory two-factor authentication and direct bank integration round out fraud protection.
BitMEX's technical security record is genuinely strong: it has never been hacked, keeps all bitcoin in cold storage with multi-signature wallets, and has employees manually audit withdrawals. Its regulatory record is another matter. BitMEX and its founders pleaded guilty to violating the US Bank Secrecy Act for failing to run an anti-money-laundering program, the company was fined $100 million in January 2025, and its three co-founders were pardoned by President Trump in March 2025. Funds on the platform have historically been safe from hackers; the risk was always regulatory.
Newton publishes its custody split: 80% with Coinbase Custody (cold storage, insured) and 20% with Fireblocks (hot wallets), with mandatory 2FA and regular internal and external security audits. BitMEX has a strong technical security record with cold storage and manual withdrawal audits, but its legal history includes a $100M US fine for AML failures. Since BitMEX is not available to Canadians, only Newton's security is relevant here.
Regulatory Compliance
Newton is regulated by the Canadian Securities Administrators, FINTRAC, and securities regulators in every province and territory, a major step up from its early days as a FINTRAC-only MSB. It was among the first Canadian exchanges to pursue securities registration, and its affiliation with DV Trading adds institutional market-making depth behind its pricing.
BitMEX initially restricted only Ontario and Québec, but as of late 2023 its Restricted Jurisdiction Policy lists all of Canada as restricted. Its US legal troubles have concluded with guilty pleas, a $100 million fine and subsequent presidential pardons for the founders. There is no indication BitMEX intends to register with Canadian regulators or return to the Canadian market.
Newton is regulated by the Canadian Securities Administrators, FINTRAC, and securities regulators in every province and territory, a major step up from its early days as a FINTRAC-only MSB. It was among the first Canadian exchanges to pursue securities registration, and its affiliation with DV Trading adds institutional market-making depth behind its pricing.
BitMEX initially restricted only Ontario and Québec, but as of late 2023 its Restricted Jurisdiction Policy lists all of Canada as restricted. Its US legal troubles have concluded with guilty pleas, a $100 million fine and subsequent presidential pardons for the founders. There is no indication BitMEX intends to register with Canadian regulators or return to the Canadian market.
Newton is registered with FINTRAC and operates as a CSA Restricted Dealer in every Canadian province and territory. BitMEX lists all of Canada as a restricted jurisdiction and is not registered with Canadian securities regulators.
Customer support
Newton has FAQs and a knowledge centre on its website, with support handled through online tickets. There's no phone or live chat, and its middling Trustpilot score mostly reflects slow support and ID-verification frustrations rather than fund-safety issues. For simple buy-and-hold users the support model is adequate; anyone who values a human on demand should look at NDAX or Netcoins instead.
BitMEX offers support via a contact form on its website and has a detailed FAQ section. For Canadians this is academic, since the platform is off-limits entirely.
Newton has FAQs and a knowledge centre on its website, with support handled through online tickets. There's no phone or live chat, and its middling Trustpilot score mostly reflects slow support and ID-verification frustrations rather than fund-safety issues. For simple buy-and-hold users the support model is adequate; anyone who values a human on demand should look at NDAX or Netcoins instead. Newton also integrates with Koinly for simplified tax reporting at year end.
BitMEX offers support via a contact form on its website and has a detailed FAQ section. For Canadians this is academic, since the platform is off-limits entirely.
Newton's ticket-based support is the only relevant option for Canadians. BitMEX's support matters only if you have a legacy account to close.
Conclusion
From a Canadian perspective, this comparison has a clear answer. BitMEX has listed all of Canada as a restricted jurisdiction since late 2023 — not just Ontario and Quebec as it did previously — and there is no indication it plans to register with Canadian regulators.
Newton is the clear choice. As a CSA Restricted Dealer registered in every province and territory, it is one of the most compliant platforms in Canada. Commission-free trading, free Interac deposits and withdrawals, 70+ coins, staking on ETH and SOL, T5-friendly exports, Koinly tax integration and a $25 referral bonus make it a well-rounded beginner platform. The widening spreads are a genuine weakness for active traders — NDAX's 0.2% flat fee is more cost-effective at volume — and anyone who needs real-time support will prefer NDAX or Netcoins over Newton's ticket-only model.
We recommend choosing Newton over BitMEX for your cryptocurrency trading needs. By using our referral link, you get $25 and support us in conducting comprehensive independent analyses of crypto trading options for Canadians.
If you find that neither Newton nor BitMEX meets your requirements, we encourage you to explore our monthly-updated list of the best exchanges for Canadians to trade crypto.
