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.
Wealthsimple Crypto requires new customers to complete KYC before trading and supports two-factor authentication, along with Touch ID or Face ID for convenient logins. Client crypto is held in cold storage by regulated custodian Gemini Trust Company, backed by insurance and a Coincover partnership for asset recovery. One transparency note: Wealthsimple disclosed a data breach in September 2025 via a third-party supply chain attack, where some personal data was affected but no funds were stolen.
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.
Wealthsimple Crypto requires new customers to complete KYC before trading and supports two-factor authentication, along with Touch ID or Face ID for convenient logins. Client crypto is held in cold storage by regulated custodian Gemini Trust Company, backed by insurance and a Coincover partnership for asset recovery. One transparency note: Wealthsimple disclosed a data breach in September 2025 via a third-party supply chain attack, where some personal data was affected but no funds were stolen. Eligible fiat balances are covered by CIPF as a CIRO investment dealer.
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. Wealthsimple Crypto holds client crypto in insured cold storage with Gemini Trust, adds Coincover for asset recovery, mandates 2FA and biometric login, and carries CIPF on fiat as a CIRO investment dealer. Both platforms are highly secure with clean fund-safety records.
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.
Wealthsimple Crypto holds the strongest regulatory position in Canadian crypto: it is the country's only CIRO-registered crypto investment dealer and is listed by the CSA as an authorized platform. Eligible fiat balances are covered by the Canadian Investor Protection Fund up to $1 million, though crypto assets themselves fall outside CIPF coverage. Wealthsimple has been a staple of Canadian investing since 2014 and manages tens of billions in assets.
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.
Wealthsimple Crypto holds the strongest regulatory position in Canadian crypto: it is the country's only CIRO-registered crypto investment dealer and is listed by the CSA as an authorized platform. Eligible fiat balances are covered by the Canadian Investor Protection Fund up to $1 million, though crypto assets themselves fall outside CIPF coverage. Wealthsimple has been a staple of Canadian investing since 2014 and manages tens of billions in assets.
Both Newton and Wealthsimple are registered with FINTRAC and fully compliant with Canadian regulations. Wealthsimple holds the higher regulatory tier as Canada's only CIRO investment dealer with CIPF coverage on fiat; Newton operates as a CSA Restricted Dealer working toward the same standard.
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.
Wealthsimple has a comprehensive help centre on its website and in-app, covering both crypto basics and platform how-tos. Support runs through live chat and email around the clock, and quality is well regarded, though there's no dedicated phone line for crypto issues. One tax perk worth knowing: the app provides a downloadable crypto realized gain/loss report that imports cleanly into tax software.
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.
Wealthsimple has a comprehensive help centre on its website and in-app, covering both crypto basics and platform how-tos. Support runs through live chat and email around the clock, and quality is well regarded, though there's no dedicated phone line for crypto issues. One tax perk worth knowing: the app provides a downloadable crypto realized gain/loss report that imports cleanly into tax software.
Wealthsimple's 24/7 live chat is a genuine advantage over Newton's ticket-only model for users who need real-time help. Newton's Koinly integration partially compensates by reducing the tax-season support burden. Neither platform offers phone support.
Conclusion
Both Newton and Wealthsimple Crypto are strong, well-regulated Canadian options, and the right choice depends on what you value.
Newton is the stronger pick for Canadians who want commission-free trading across 70+ coins, free Interac deposits and withdrawals, Koinly tax integration, T5-friendly statement exports and a locally focused beginner interface. 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 commission-free model is easy to reason about.
Wealthsimple Crypto is the stronger pick for Canadians who want the highest regulatory protection available, more coins (140+), the convenience of managing crypto alongside their TFSA and RRSP in one app, 24/7 live chat, staking on ETH/SOL/ADA/DOT, crypto-to-crypto swaps, and Canada Post cash deposits. As Canada's only CIRO investment dealer, it carries CIPF coverage on fiat balances up to $1 million. The 2% Core-tier fee is the main trade-off — if you trade frequently, the per-trade cost adds up quickly.
We recommend choosing Newton for Canadians who want commission-free simplicity and Koinly integration, and Wealthsimple Crypto for those who want more coins, CIRO protection and an all-in-one investment app. By using our referral links, you get $25 on Newton and $50 on Wealthsimple, and support us in conducting comprehensive independent analyses of crypto trading options for Canadians.
If you find that neither Newton nor Wealthsimple Crypto meets your requirements, we encourage you to explore our monthly-updated list of the best exchanges for Canadians to trade crypto.
