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.
Since April 2025, VirgoCX operates as a non-custodial platform, meaning it never holds your crypto. The coins you buy are delivered to your own wallet, so there is no pool of customer funds on the exchange for hackers to steal. This replaces the old model, where assets were held in cold storage with third-party custody and covered by crime insurance. The new approach is actually closer to what we always recommend anyway: holding your own coins in your own Canadian crypto wallet. Fiat balances are held with Canadian banking partners.
Both Newton and VirgoCX prioritize security. Newton leverages 2FA and utilizes regular third-party security audits to ensure the safety of user assets. VirgoCX also offers 2FA, and in addition, provides insurance coverage with Coinbase Custody, with most of its crypto assets held in cold storage.
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.
VirgoCX is registered with FINTRAC as a money services business (MSB M19955733) and appears on the Canadian Securities Administrators' list of crypto platforms authorized to do business with Canadians, so it is fully legal in Canada. It originally registered as a restricted securities dealer in 2022 but did not complete CIRO investment dealer registration, which is why it pivoted to the non-custodial model in April 2025.
Both exchanges are compliant with Canadian regulations. Newton is registered with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) as a Money Services Business (MSB). VirgoCX is also registered with FINTRAC and PIPEDA and conducts regular audits, demonstrating its commitment to regulatory compliance.
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.
If you need help, you can contact VirgoCX's support team via email or live chat, and they offer multi-language support. Not many exchanges offer live chat.
Newton provides customer support primarily through email, and users have reported responsive and helpful interactions.
VirgoCX stands out in this area, offering 24/7 customer support through both email and live chat, and provides multi-language support.
Conclusion
Both exchanges offer unique benefits to Canadian users, with Newton providing a straightforward and low-cost trading experience, and VirgoCX offering a broader feature set including an NFT marketplace and OTC trading. However, considering the overall user experience, security, compliance, and customer support, the winner in this comparison would be Newton, primarily for its user-friendly interface and low fees, making it a great choice for both new and experienced investors.
When comparing Newton to VirgoCX, 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.
VirgoCX now boasts support for over 60 cryptocurrencies, giving Canadian traders a wider variety of options. The exchange has also introduced a tiered rewards program, allowing users to enjoy up to 90% off on spreads, making trading more affordable. Furthermore, VirgoCX enhances security by utilizing Coinbase Custody for safeguarding assets and offering insurance coverage. These updates make it a strong contender in the Canadian market, appealing to both novice and experienced traders when compared to other exchanges.
We recommend choosing Newton over VirgoCX 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 VirgoCX 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.
