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.
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.
Newton publishes its custody split: 80% with Coinbase Custody (cold storage, insured) and 20% with Fireblocks (hot wallets), with mandatory 2FA and regular security audits. VirgoCX protects users through its non-custodial model — it never holds customer crypto — along with 2FA, SSL encryption and ongoing activity monitoring. Both platforms are highly secure through different models.
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.
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 Newton and VirgoCX are registered with FINTRAC and fully authorized to serve Canadians. Newton holds the higher regulatory tier as a CSA Restricted Dealer working toward full CIRO investment dealer registration; VirgoCX is on the CSA's authorized list as a registered MSB.
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 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.
VirgoCX offers support via email and live chat with multi-language support. Not many Canadian exchanges offer live chat at all, which is a genuine plus for newer users navigating the wallet setup process for the first time.
VirgoCX's multi-language live chat gives it a support edge over Newton's ticket-only model. Newton's Koinly integration partially compensates by reducing the tax-season support burden. Neither platform offers 24/7 support.
Conclusion
Both Newton and VirgoCX are strong, well-regulated Canadian options, and the right choice depends on what you value.
Newton is the stronger pick for Canadians who want a custodial exchange with 70+ coins, commission-free trading, free Interac deposits and withdrawals, staking on ETH and SOL, T5-friendly exports and Koinly tax integration. The widening spreads are a genuine weakness for active traders — NDAX's 0.2% flat fee is more cost-effective at volume — but for occasional buyers, Newton's transparent model is easy to reason about.
VirgoCX is the stronger pick for Canadians who want zero trading commissions across 90+ coins and are comfortable managing their own wallet. The April 2025 non-custodial pivot means your crypto is never on the exchange — it goes straight to your own wallet — which eliminates custodial hack risk entirely. The wallet setup adds one step for beginners, but Quick Trade and live chat keep things accessible.
We recommend choosing Newton for Canadians who want a full-service custodial platform with Koinly integration, and VirgoCX for those who want zero commissions and non-custodial security across 90+ coins. By using our Newton 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 VirgoCX meets your requirements, we encourage you to explore our monthly-updated list of the best exchanges for Canadians to trade crypto.
