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.
NDAX keeps roughly 95% of digital assets in cold storage using Ledger Vault, a big name in crypto security, alongside multi-signature wallets and regular audits. Two-factor authentication is mandatory at sign-up, a policy we like since most exchanges leave it optional. Changing account details like your email or phone number requires submitting a selfie with a handwritten note, an old-school but effective defence against account takeover. As a CIRO member, NDAX also keeps client CAD balances in segregated accounts, though crypto assets themselves aren't covered by deposit insurance.
Both exchanges prioritize security. Newton complies with FINTRAC regulations, conducts daily site backups, and keeps digital assets in offline third-party storage. However, details about what percentage of assets are kept in cold storage aren't provided. NDAX uses Ledger Vault for cold storage (percentage undisclosed) and enforces mandatory 2FA, making its security protocols comprehensive and robust.
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.
NDAX is one of the most compliant platforms in Canada: a registered investment dealer and CIRO member since December 2024, licensed across all provinces and territories, and registered with FINTRAC and the AMF. It has also received CIRO approval to offer staking, which very few Canadian platforms can claim.
Both Newton and NDAX are compliant with Canadian federal regulations. They're registered as Money Service Businesses with FINTRAC (Financial Transactions and Reports Analysis Centre of Canada), indicating that they adhere to Canadian laws and regulations related to anti-money laundering and anti-terrorist financing.
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.
NDAX provides a knowledge centre answering the most common questions, plus live chat, email and phone support available Monday to Friday from 10 AM to midnight ET. When we contacted them, we got a reply in an impressive 20 minutes. Their team also responds to negative reviews publicly, which speaks well of how seriously they take support.
Newton offers a knowledge base for common queries and a ticketing system for support. It responded to a test query within four hours.
NDAX, on the other hand, offers a knowledge center, live chat, and email support, with an impressively quick response time of just 20 minutes.
Conclusion
While both exchanges are reliable and feature-rich, Newton takes the lead due to its no-fee trading policy, wide range of supported cryptocurrencies, and an overall user-friendly platform. Despite the lower rating of its Android app, Newton's commitment to continually add new coins and its soon-to-be-launched advanced trading platform, Newton Pro, make it an appealing choice for Canadian traders.
When comparing Newton to NDAX, one notable advantage is the Recurring Buys feature. This allows users to automate crypto purchases at regular intervals, making it easier to invest consistently over time. Additionally, Newton has partnered with Koinly, a leading crypto tax platform, simplifying tax reporting with seamless integration. These features are especially beneficial for users looking for a hands-off approach to crypto investing and tax management, giving Newton a distinct edge over many competitors that don’t offer these conveniences.
We recommend choosing Newton over NDAX for your cryptocurrency trading needs. By opting for Newton through our referral link, you support us in conducting comprehensive independent analyses of crypto trading options for Canadians.
If you find that neither Newton nor NDAX meets your requirements, we encourage you to explore our monthly-updated list of the best exchanges for Canadians to trade crypto. This list provides a range of alternative options that may better suit your specific needs and preferences.
