NDAX Review 2025: The Top Choice for Canadians or Just Hype?

NDAX is a cryptocurrency exchange for Canadians, based in Calgary, aiming to compete with BitBuy as the most affordable crypto exchange in Canada. When I first tested and reviewed NDAX back in 2020, I listed quite a few drawbacks about the platform. But I have to admit, NDAX is one of those rare exchanges that consistently works to improve. By 2025, it’s easily become one of the best crypto exchanges for Canadians.

I’ve been testing crypto exchanges since 2016, and I have a lot to share from my experience. I signed up for an account again to see if NDAX is truly worth using in 2024. Here’s my full NDAX review.

Disclaimer: This NDAX review is not sponsored or influenced in any way and is based on my real user experience, expertise, and thorough testing. If you decide to use NDAX or other Canadian crypto exchanges, please consider using my referral link for signing up with them – you’ll get a $10 bonus, and by doing so, you help me keep creating valuable content for OCryptoCanada.ca. Thank you for your support!

NDAX Quick Summary

NDAX used to claim to be the cheapest crypto exchange in Canada, but that’s no longer the case. Back in the day, such bold claims gave me bad impression about them. As of today, NDAX stands out for its low fees and cheap spreads compared to other Canada-based and regulated exchanges – as confirmed by my tests in early 2025.

NDAX charges a fixed 0.2% fee for buying and selling, no matter how you trade. They also offer free deposits with no minimum or maximum limits, which is a nice perk for Canadian users. While Newton now has zero trading fees and more cryptocurrencies, it’s important to note that Newton charges higher spread fees. In our $100 test, NDAX ended up being slightly cheaper to use overall.

Over time, NDAX has significantly expanded its list of supported cryptocurrencies, including Bitcoin, Litecoin, Ethereum, Dogecoin, and more. They’re also continuously adding more coins and rolling out exciting new features tailored for Canadians – like staking for passive income, advanced trading tools, and OTC desk services for larger trades.

NDAX Features

NDAX offers a range of features that make it stand out as a solid platform for Canadian crypto users. One of the first things I noticed is the thought and care they put into their educational resources. Each cryptocurrency listed on NDAX has its own dedicated page, covering the coin’s history, use cases, charting tools, and step-by-step guides on how to buy. As someone who’s tested countless exchanges, I appreciate this level of detail because it helps users – especially beginners – make more informed decisions. Not every exchange puts in this kind of effort.

NDAX also comes with some very practical tools that improve both security and convenience. The ability to whitelist wallet addresses and store them in an address book is a game-changer. By whitelisting, you can ensure funds can only be sent to trusted wallets, saving you time and peace of mind. Instead of waiting 10 minutes for NDAX to verify the transaction, you simply send funds to a whitelisted address, confirm via email, and you’re good to go.

On top of that, NDAX has features that cater to both beginners and experienced traders.

• Simple trading interface for beginners.
• Advanced trading tools for experienced traders looking to analyze markets.
• Free deposits and cheap withdrawals make it one of the most affordable options in Canada.
• Staking options that let you earn passive income on your crypto.
• And perhaps most importantly, NDAX is fully regulated in Canada, ensuring it operates under strict financial oversight.

For me, these features make NDAX an ideal exchange whether you’re just starting out or you’re a seasoned trader. They’ve clearly focused on providing a secure, user-friendly, and feature-packed experience for Canadians.

NDAX Registration/verification

What You Need to Open an Account:

• Must be 18+
• A government-issued ID
• A selfie 
• Answer employment questions

When signing up for an NDAX account, you will first have to enter your name and email address and activate your email. Next, you’ll need to answer some questions about your employment and include your job title and business name. Then, you’ll need to provide images of your government-issued ID and a selfie. 

The verification process on NDAX is relatively simple, but I’ll admit that answering detailed questions about your employment and financial status can feel a bit intrusive. 

However, this isn’t NDAX’s fault. These questions are part of the regulatory requirements set by FINTRAC (Canada’s financial intelligence agency). All reliable and fully regulated Canadian crypto exchanges are required to collect this information. It’s not about NDAX being nosy – it’s about following Canadian regulations designed to protect individuals from irresponsible trading and potential financial losses.

On the bright side, once you complete this step, verification is usually instant and takes just a few seconds to get approved. So while the process might seem intimidating at first, it’s just part of what makes NDAX a trustworthy and compliant platform for Canadians.

NDAX Fees

NDAX offers some of the lowest fees among fully regulated Canadian cryptocurrency exchanges. They charge a fixed 0.2% fee for buying and selling, regardless of the trade size. This structure provides transparency, as you’ll always know exactly what you’re paying per trade.

Here’s a breakdown of NDAX’s fees:

• Free deposits with no limits.
• $4.99 fixed fee for bank withdrawals or a lower $1.50 fee for Interac e-Transfers.
• 0.2% trading fee (buy and sell) with approximately 0.2% spreads (the difference between buying and selling prices).

While some exchanges advertise zero trading fees, they often compensate with higher spreads. In our experience, NDAX keeps spreads reasonable, which can make it a more cost-effective choice for trading. That said, traders moving larger amounts might benefit more from NDAX’s predictable fee structure.

How Much Does it Really Cost To Trade With NDAX?

We tested NDAX by sending $100 to our account via Interac e-Transfer. There are no deposit fees, so we received the full $100.

• We bought Bitcoin and received $99.80 worth, meaning we paid a fee of just $0.20 (0.2%).
• We then sold our Bitcoin for $99.24, resulting in a total loss of $0.56 (0.56%). Since the trading fee is 0.2%, the spread for our sale was 0.36%, which is on the lower end compared to many other exchanges.

We withdrew our funds back to our bank account using the new Interac e-Transfer option, which only costs $1.50. This left us with a total of $97.74.

To put this into perspective, here’s how NDAX spreads compare to other popular Canadian exchanges:

• Bitbuy: Spread averages around 0.79%.
• Newton: Spreads range between 0.5% to 2.2% depending on the cryptocurrency.
• Wealthsimple Crypto: Embedded spread fees average 1.5% to 2% per transaction.
• Coinbase: Spread fees are around 0.5% plus additional transaction costs.

NDAX Currencies & Deposit Methods

When trading cryptocurrency with NDAX, you can deposit Canadian dollars via a free 30-minute Interac e-Transfer or a free, one-day wire transfer or bank draft.

In my case, my Interac e-Transfer was deposited within 30 minutes, so the process works as promised. However, I found it a bit inconvenient because of how it’s set up on the website. You need to manually add NDAX as a recipient through your banking institution and input all the details yourself.

In comparison, exchanges like Newton and Coinbase make this process much smoother by allowing you to connect your bank account directly. For instance, with Coinbase, I’ve received funds in my account within minutes, which can be crucial in the fast-moving crypto industry when time-sensitive trades matter.

That said, if you’re not in a rush, NDAX’s deposit method works just fine. It’s reliable, and the 30-minute window is consistent, but I do hope they streamline the process in the future.

How Long Do Deposits Take?

My deposit took 23 minutes to arrive in our NDAX account.

How Long Does it Take to Withdraw Coins?

Withdrawing coins on NDAX depends on the network, but in my experience, Bitcoin withdrawals took about 10 minutes to process.

When I sold my BTC on NDAX and withdrew Canadian dollars via Interac e-Transfer, the funds arrived in under an hour, and it only cost me $1.50. I also tested a wire transfer, which came with a $4.99 fee and took about two business days to reach my bank account.

If you need your money quickly, Interac e-Transfer is the better option. However, for larger amounts where speed isn’t as critical, the wire transfer works reliably as well.

NDAX Security and Safety

Is NDAX safe for Canadians to use? Yes, in fact, NDAX provides some of the best security measures we’ve seen (only BitBuy is more secure). You can view the full list here, but here are some of the stand-out points. 

NDAX takes security seriously, and it’s clear they’ve stepped up their game over the years. Over 90% of digital assets are now stored in cold storage through their partnership with Ledger Vault, one of the most trusted names in crypto security. This means the majority of funds are kept offline, reducing the risk of hacking.

What stood out to me is how NDAX handles Canadian dollars. Your fiat funds are held in segregated bank accounts separate from NDAX’s own operations. If anything were to happen to the exchange, like insolvency, your money is protected and can be returned to you – something most exchanges don’t highlight.

NDAX is also fully registered with FINTRAC and AMF, which means they operate under strict Canadian regulations. I’ve been testing crypto exchanges since 2016, and I know this compliance is a must if you want to avoid shady platforms.

When it comes to securing your account, NDAX doesn’t cut corners. Two-factor authentication (2FA) is mandatory when you sign up, which I personally think is a great thing. Some exchanges let you skip it, but I’d rather be forced to enable 2FA than deal with the headache of unauthorized access.

NDAX also takes an extra step if you ever need to update sensitive account details, like your email or phone number. You’re required to submit a selfie with a handwritten note explaining the change. Sure, it might feel annoying, but let’s be honest: this is one of the most secure ways to prevent fraud.

Lastly, NDAX has achieved SOC 2 Type II certification, which is a big deal in the tech world and shows they consistently meet high security and data protection standards. Their servers are monitored 24/7, and regular maintenance is done without interfering with users.

From my own experience, NDAX’s security measures feel robust and reliable. While no exchange is risk-free, NDAX clearly goes the extra mile to protect its users – and that’s something I can appreciate.

Mobile and Desktop App

NDAX has an iOS app with a 4.7-star rating with over 9000 reviews. Its Android app has a 4.7-star rating with 2800+ reviews. 

The mobile app is much like its desktop counterpart. The first page you see is the market information. 

Previously, I criticized NDAX for having a redundant layout on their “All Markets” and “CAD Markets” pages, where the only real difference was listing BTC against USDT. Thankfully, that’s no longer the case. NDAX has clearly listened to feedback and refined its interface to make it cleaner and more intuitive.

One of the most noticeable improvements is their mobile app. It’s well-designed, straightforward, and easy to navigate, whether you’re a beginner or a more advanced trader. The app handles everything seamlessly – from deposits and withdrawals to viewing markets and placing trades – without overwhelming users with unnecessary features.

What I really appreciate is how NDAX has handled customer complaints over the years. They seem to take user feedback seriously, and it shows in the app’s current functionality and reliability. It’s no surprise that the app now enjoys such high ratings on both the App Store and Google Play. From my experience, the app performs smoothly, and the improvements they’ve made are a testament to their ongoing work and commitment to their customers.

It’s refreshing to see an exchange continually improve and respond to its user base – something not every platform does.

Design and Usability

NDAX has a sophisticated and professional look. It doesn’t try too hard to be modern or to stand out from the crowd. The exchange is easy to navigate with clean white pages which makes it feels like a solid, reputable crypto exchange. Nothing more nothing less. 

The desktop platform is easy to use. Everything you need to make basic trades is right there. They also provide you with an affiliate link so you can refer friends and earn crypto in return. To deposit funds, just click the deposit button at the top and follow the simple steps to deposit via e-Transfer or bank transfer. Keep in mind that you can only deposit Canadian dollars. 

NDAX has a scrolling sidebar, which makes the desktop platform easy to navigate. Using the sidebar, you can link your bank account and set up recurring deposits. You can view your crypto addresses, your wallets and also access settings and support. 

In the main dashboard, you can make a quick trade, view your portfolio distribution, recent transactions, recent logins, and more. 

Customer support

As with most cryptocurrency exchanges, NDAX provides a knowledge centre on its website. Articles here answer some of the most common questions. They also have a live chat function, which is handy when you need a quick answer. You can also email them for support. Confusingly, NDAX lists its phone number on its contact page, which is rare for a crypto exchange to do. We weren’t sure if this meant they had phone support, so we reached out via email to ask. They got back to me a very impressive 20 minutes later to let us know that they only have email support. So that’s that. Still, that’s the fastest response we’ve seen.

NDAX Consumer Ratings, Reports & Reviews on Other Platforms

NDAX has a good 3.4-star rating on Trustpilot, which is very acceptable for such platform. Not many crypto exchanges have such rating.

 

There is also a portion of negative reviews. Some customers have had issues with their funds being held or being unable to withdraw. Others complain about the withdrawal fees and ‘missing’ funds. It’s worth mentioning that NDAX replies to all these reviews, demonstrating a positive quality of their customer support.

 

NDAX Alternatives

There are many Canadian crypto exchanges to choose from such as Bitbuy, which is Canada’s first regulated exchange. It has free deposits and several of the most popular cryptocurrencies. 

CoinSmart is also a good option for Canadians and my personal favourite.

	NDAX	Bitbuy	Bitget
Trading fees	0.2%	0% to 1.5%	0.1%
Cryptocurrencies	36+	40+	850+
Additional features	Staking, OTC Desk	OTC Desk	Futures, Derivatives trading
Customer Support	Poor	Good	Good
Security	Good	Excellent	Good
		Read review	Read review

Does NDAX Offer Staking or Other Services?

NDAX is one of the few Canadian crypto exchanges that offer crypto staking. You can stake your Ethereum, Cardano, The Graph, Polkadot, and Polygon. They have a staking calculator so you can approximate your returns, and a dashboard where you can view your staked coins and their performance. 

NDAX also has a referral program where you can earn 10% of the trading fees from your referral’s trades, up to a maximum of $1000 per person referred. You can use our referral link to help us out.

NDAX is suitable for Canadian residents only.

Does NDAX Have an OTC Desk?

NDAX has an OTC Desk for anyone looking to trade $200,000 or more. You’ll get personalized service and access to a wide range of digital assets.

NDAX Liquidity

We could not find information about NDAX’s liquidity but NDAX does have an OTC Desk for making large trades.

Does NDAX Restrict or Freeze Accounts?

NDAX does not commonly freeze accounts but they can if they suspect suspicious activity. 

Suspicious activity could include trading larger amounts than usual or trading more frequently than you usually do. NDAX may suspect someone else is using your account or that you are being reckless and gambling more than you should. 

If your account is frozen you will need to contact NDAX’s support team. While NDAX is not in the habit of freezing accounts, many users have complained about their funds taking a long time to withdraw from the exchange. 

Can NDAX Track where you Receive and Send Crypto?

NDAX can track where you have received and sent crypto since all transactions are recorded on public blockchains. The information available includes time and date, amount sent and both “to” and “from” wallets.

Since users must submit identity documents during the verification process, it is easy for NDAX to link wallets and transactions on the blockchain with their customer’s accounts. 

By following a trail, this is how the Canadian government was able to freeze accounts of the protestors during the “Freedom Convoy” earlier this year.

Conclusion

NDAX has really thought of everything. From making 2FA mandatory to allowing whitelisting of addresses, it’s really got everything you need from an exchange. It also has the most detailed and transparent information about its security features we’ve seen. 

We also like that it offers advanced order types in a beginner-friendly interface. We like its highly-rated app, the fixed fee, its educational content on every coin it lists. We could go on.

Most of all, we like that it doesn’t try hard to stand out from every other exchange. It doesn’t need modern typefaces or quirky illustrations, or an “out there” colour palette. NDAX must know it’s a good exchange because it lets its quality features do the talking. If you found this review helpful and decided to start an account with NDAX we will highly appreciate it if you use our referral sign-up link. You will get free $10 when you deposit $100 CAD or more. Alternatively, check our big research on the best crypto exchanges in Canada or try BitBuy. 

You can also check the review on our Youtube channel: