NDAX (National Digital Asset Exchange) is a 100% Canadian crypto exchange founded in Calgary, Alberta in 2018. Built from day one for Canadian investors, NDAX has established itself as the serious alternative for those looking to go beyond Bitcoin and Ethereum — with around fifty cryptocurrencies, fees among the lowest in the regulated Canadian market (0.20%), and an OTC desk for large volumes.
Fully registered with the ACVM as a restricted crypto dealer and with CANAFE as a money services business, NDAX is also authorized by the AMF (Autorité des marchés financiers) in Quebec. Its positioning is clear: a platform for the intermediate Canadian investor who wants competitive fees, an advanced interface and access to more cryptos than Shakepay or Newton.
| Caractéristique | Details |
|---|---|
| Founded / HQ | 2018 · Calgary, Alberta, Canada |
| Type | Centralized exchange (CEX) · Custodial |
| Réglementation | ACVM (restricted dealer) · CANAFE · AMF · 100% Canadian |
| Available cryptos | 50+ actifs (BTC, ETH, SOL, ADA, XRP, DOT, LINK, MATIC, USDC…) |
| Fiat currency | CAD only · No USD or other currencies |
| Fees de trading | 0.20% maker/taker — among the lowest in Canada |
| Deposit methods | Interac e-Transfer · Bank wire (EFT) · No card |
| OTC trading | Yes — for $10,000+ CAD volumes · Negotiated price |
| Mobile app | ✓ iOS · Android · Interface intermédiaire |
| Trading API | ✓ REST + WebSocket available |
| Staking | ✕ Not available on NDAX |
| Futures / Margin | ✕ Not available |
NDAX is one of the best-regulated Canadian crypto exchanges. As a Canadian company based in Calgary, it is subject to federal and provincial laws — a structural advantage over foreign exchanges that have simply obtained Canadian licences.
| Regulatory / security aspect | Assessment |
|---|---|
| ACVM registration | ✓ Restricted crypto asset dealer — registered |
| CANAFE | ✓ Money services business (MSB) |
| AMF (Québec) | ✓ Autorisé par l'AMF — opère légalement au Québec |
| Canadian company | ✓ Founded and operated from Calgary, AB |
| 2FA authentication | ✓ Mandatory — Authenticator app or SMS |
| KYC / Identity verification | ✓ Photo ID + automated verification |
| Cold storage | ✓ Majority of client funds in cold storage |
| CIPF protection | ✕ FCPI non applicable — exchanges crypto exclus |
| Security history | ✓ No major security incidents reported |
NDAX stands out with an explicit 0.20% maker/taker fee structure — unlike Newton or Shakepay which embed hidden spreads of 1.0 to 2.5%. This is a major advantage for active investors or large volumes.
| Fee type | Amount | Details |
|---|---|---|
| Maker fees | 0.20% | Limit orders that add liquidity |
| Taker fees | 0.20% | Market orders that consume liquidity |
| Interac deposit | Free | No fees on CAD deposits |
| EFT deposit | Free | Electronic bank transfer |
| CAD withdrawal | Free | Bank wire to your account |
| Crypto withdrawal (on-chain) | Network fees | Standard blockchain fees |
| OTC trading | Negotiated | Custom price for $10,000+ CAD |
| Credit card | Not available | — |
NDAX offers more than 50 cryptocurrencies — a mid-range selection between the simplicity of Shakepay (BTC + ETH) and the breadth of Coinbase (200+). It covers all major assets and many established DeFi projects.
Bitcoin (BTC) · Ethereum (ETH) · Solana (SOL) · XRP · Cardano (ADA) · Dogecoin (DOGE) · Polkadot (DOT) · Chainlink (LINK) · Polygon (MATIC) · Litecoin (LTC) · Stellar (XLM) · Avalanche (AVAX) · Uniswap (UNI) · Cosmos (ATOM) · USDC · USDT · Tezos (XTZ) · Algorand (ALGO) · VeChain (VET) · and 30+ more
The NDAX interface is more advanced than Newton or Shakepay — it includes a visible order book, limit and market orders, and price charts. It targets the intermediate investor who wants more control without the complexity of a pro platform like Kraken.
| Feature | NDAX |
|---|---|
| Market orders | ✓ Instant buy/sell |
| Limit orders | ✓ Available — set your target price |
| Price charts | ✓ TradingView integrated — basic |
| Order book | ✓ Visible in real time |
| Recurring purchases (DCA) | ✓ Available — weekly or monthly |
| REST + WebSocket API | ✓ For bots and algorithmic traders |
| iOS mobile app | ✓ Available · Clean interface |
| Android mobile app | ✓ Disponible |
| Tax report (CRA) | ✓ CSV export available |
| Customer support | In-app chat · Email · Variable response times |
| Method | Direction | Processing time | Fees |
|---|---|---|---|
| Interac e-Transfer | CAD deposit | Instant | Free |
| Bank wire (EFT) | CAD deposit | 1–3 business days | Free |
| Virement bancaire | CAD withdrawal | 1–3 business days | Free |
| Crypto withdrawal (on-chain) | To external wallet | Variable · Network confirmation | Network fees standard |
| Dépôt crypto | From external wallet | Variable · Network confirmation | Free |
| Credit card / débit | Not available | — | — |
NDAX offers an OTC (Over-The-Counter) desk for large transactions — generally starting at $10,000 CAD. This service allows institutional investors and high-net-worth individuals to obtain a directly negotiated price without market impact.
🔹 Price set in advance — no order book impact
🔹 Ideal for $10,000+ purchases without price slippage
🔹 Fast execution with a dedicated trader
🔹 Available for BTC, ETH and most major assets
🔹 Custom terms based on volume
NDAX se positionne entre la simplicité de Newton et la puissance de Coinbase ou Kraken. Voici une comparaison directe. Also see our Newton review → and our Coinbase Canada review →
| Criterion | NDAX | Newton | Coinbase | Kraken |
|---|---|---|---|---|
| 100% Canadian | ✓ Calgary, AB | ✓ Toronto, ON | ✗ USA | ✗ USA |
| ACVM Reg. | ✓ | ✓ | ✓ | ✓ |
| Fees de trading | 0.20% | 1,0–1,6 % spread | 0,60 % (Adv.) | 0,40 % (Pro) |
| Available cryptos | 50+ | 75+ | 200+ | 200+ |
| Interac deposit | Free | Free | Free | Fees variables |
| Limit orders | ✓ | ✗ | ✓ | ✓ |
| OTC Trading | ✓ | ✗ | ✗ | ✗ |
| Staking | ✗ | ✗ | ✓ (7 tokens) | ✓ (15+ tokens) |
| Beginners | Intermediate | Excellent | Excellent | Average |
| Overall rating | 4,1 / 5 | 4,0 / 5 | 4,5 / 5 | 4,4 / 5 |
NDAX is the ideal choice for a Canadian who wants to go beyond Bitcoin and Ethereum, with transparent and competitive fees, in a fully ACVM-regulated 100% Canadian framework. Its flat 0.20% fees are the lowest among registered Canadian exchanges offering an order book and limit orders.
Compared to Newton, NDAX is significantly more cost-effective on large volumes and offers more cryptos and control. Par rapport à Kraken ou Coinbase Advanced Trade, taker fees are slightly higher but the 100% Canadian framework reassures investors who prefer a domestic entity.
NDAX is particularly well suited for DCA investors at $500+/month, investors looking for an order book and limit orders without institutional platform complexity, and large transactions via OTC. To start simply with Bitcoin, Shakepay remains more suitable. For staking, opt for Kraken or Coinbase.