Coinsquare Review 2025: A Comprehensive Guide For All Canadian Crypto Traders

Last updated: 11/27/2025 16:38

As the Canadian cryptocurrency market matures, traders are increasingly prioritizing regulation, security, and transparency when choosing a crypto exchange. In this review, we take a closer look at one of Canada’s largest crypto exchanges: Coinsquare.

This article will dive into all aspects of Coinsquare. By the end of the article ‘Coinsquare Review 2025,’ you will have a clear idea of its pros and cons, supported coins, fees, payment methods, security, customer service, best Coinsquare alternative, etc.

Table of Contents

What is Coinsquare: A Quick Overview
Pros & Cons of Coinsquare: A Brief Summary
Cryptocurrencies Available on Coinsquare
Coinsquare Fees
Coinsquare Deposit/Withdrawal Methods
Coinsquare Security
Coinsquare Trading Features
Coinsquare Customer Service
Is Coinsquare Legit?
Best Coinsquare Alternative
Conclusion
＼Unlock Up To 10,055 USDT In Welcome Rewards!／

Sign Up BTCC Now

What is Coinsquare: A Quick Overview

Founded in 2014, Coinsquare is a major cryptocurrency exchange based in Toronto, Canada. The exchange offers its customers trading services for a variety of cryptocurrencies, such as Bitcoin, Dash, and Ethereum. Purpose-built and catered to Canadian cryptocurrency investors, the platform is available in English and French. However, Coinsquare has also made its services available to investors in the global cryptocurrency market.

Since its inception, Coinsquare has grown substantially, raising over $100 million and expanding to a team of over 200 employees. This has enabled Coinsquare to onboard over half a million Canadian users and establish itself as the dominant cryptocurrency exchange in Canada. While competitors such as Coinbase, BitBuy, Coinsmart and Coinberry continue to expand in Canada, Coinsquare remains a notable crypto exchange, with factors such as fees, support for deposits in CAD, liquidity and overall reliability influencing user choice.

[TRADE_PLUGIN]BTCUSDT,ETHUSDT[/TRADE_PLUGIN]

Pros & Cons of Coinsquare: A Brief Summary

Although we liked that the platform was beginner-friendly and complied with Canadian law, there are several areas of the Coinsquare exchange that could be improved. If you don’t have time to read the full review, here is a brief summary to help you familiarize yourself with the exchange.

Pros	Cons
Full law compliance Beginner-Friendly Interface Large number of deposit/withdrawal options Excellent customer service	Limited selection of cryptos (only 50+) Security remains a major concern Charge a hefty fee of up to 10% for a credit card purchase

Cryptocurrencies Available on Coinsquare

Originally a Bitcoin-only platform, Coinsquare has expanded its range to include Ethereum, Litecoin, Bitcoin Cash, Dogecoin, Dash, Ripple XRP and over fifty other assets, offering Canadians a broader selection of blockchain options.

Coinsquare is a ‘fiat gateway’ primarily used by Canadian traders who want to buy cryptocurrencies with CAD. While many users would be satisfied with the cryptocurrencies available on Coinsquare, there is always the option to transfer them to another exchange and purchase other altcoins.

Therefore, Canadian cryptocurrency investors can purchase Bitcoin with Canadian dollars on Coinsquare and then transfer it to another exchange, such as BTCC or Kraken, to purchase smaller altcoins.

＼Unlock Up To 10,055 USDT In Welcome Rewards!／

Sign Up BTCC Now

Coinsquare Fees

Coinsquare’s pricing is designed to be straightforward, minimizing surprises when executing trades and helping newcomers budget for fees.

Coinsquare Pro Trading Fees

On the Pro interface, it charges a flat fee of 0.50% for both maker and taker trades. Therefore, adding or removing liquidity incurs the same cost of 0.50%. For example, a $1,000 order would incur a charge of $5.

Coinsquare Trade fees

The exchange has eliminated direct trading fees for the standard Coinsquare Trade platform. Instead, it generates trade quotes using a spread ranging between 0.5% and 1.85%, depending on market conditions and liquidity. This spread is incorporated into the buy and sell prices, enabling commission-free trading.

Staking Fees

Coinsquare provides staking services with varying reward rates and fees depending on the cryptocurrency. For example, Ethereum (ETH) offers an estimated annual reward of between 2.29% and 2.89%, with a 25% fee applied to the rewards themselves. Assets such as Solana (SOL) and Cosmos (ATOM), however, have their own schedules.

[TRADE_PLUGIN]BTCUSDT,ETHUSDT[/TRADE_PLUGIN]

Coinsquare Deposit/Withdrawal Methods

As Coinsquare focuses on the Canadian market and accepts Canadian dollar deposits, it is also tied to the traditional banking system. This means that, as a customer, you have the option of funding or withdrawing to your bank account in Canadian dollars. The following methods are supported by Coinsquare for deposits:

Payment Method	Min	Max	Fee	Processing Time
Interac e-Transfer®	$20	$10,000	0%	0-30 minutes
Credit Card	$100	$5,000	10%	Instant
Wire transfer	$10,000	Unlimited	0%	0-2 business days

Before you decide to deposit funds into your account, it is important to note that you must be verified and have completed the required KYC steps.

Many are put off by the 10% fee for card purchases, especially when compared to the 3.9% fee charged by Coinbase. However, several Canadian banks have moved to restrict credit card purchases of cryptocurrency, which partly explains the higher cost.

Alternatively, you can deposit cryptocurrency directly. Confirmation times on the respective network determine when balances appear, and Coinsquare does not charge a separate crediting fee beyond standard miner costs.

Withdrawal Options

If you want to withdraw your assets in Canadian dollars, the following options are available to you.

Payment Method	Min	Max	Fee	Processing Time
Direct Bank Deposit	$20	$100,000	1.5%	0-3 business days
Wire transfer	$10,000	Unlimited	1.5%	0-2 business days
Interac e-Transfer	$20	$2,000	0%	Within 24 hours

You can also withdraw the coins directly from the Coinsquare exchange. While Coinsquare will not charge a fee for this, they will have to charge the standard network (mining) fee.

＼Unlock Up To 10,055 USDT In Welcome Rewards!／

Sign Up BTCC Now

Coinsquare Security

With security as their number one priority, the Coinsquare exchange has ensured that it has several layers of protection in place:

2FA Authentication
95% of the funds are kept in cold storage
Encrypted and Distributed backups daily
SSL Encryption

Coinsquare also has measures in place to protect users from phishing attacks and hackers attempting to access their accounts. For example, they offer two-factor authentication to help secure users’ account if someone gets hold of their password.

Despite these security measures, Coinsquare suffered a data breach in June 2020. Alongside reports of insider data theft, it was revealed that the CEO had urged staff to engage in wash trading on the platform, raising eyebrows among users.

For those unfamiliar with the term, wash trading involves simultaneously buying and selling the same asset to create the appearance of greater activity on the exchange.

This information came from leaked documents that were shared with the Motherboard publication. They showed that the CEO directed his employees to activate the wash trading algorithms after being visited by regulators.

These claims are important for anyone considering using the platform because wash trading constitutes illegal market manipulation under rules enforced by the U.S. Securities and Exchange Commission (SEC).

[TRADE_PLUGIN]BTCUSDT,ETHUSDT[/TRADE_PLUGIN]

Coinsquare Trading Features

The trading platform can make or break your experience, depending on what sort of cryptocurrency buyer you are. Some people just want to buy and hold. Others would prefer to trade in the crypto markets more regularly, like day traders. The latter group will therefore be really interested in the trading technology offered by an exchange.

Those interested in buying cryptocurrency quickly with a simple order will use the ‘Trade’ option available on the dashboard. Here, you can get a quote for the cryptocurrency you want to buy and place your order. It will be executed immediately and added to your wallet.

Coinsquare Pro

Active traders can switch to the ‘Advanced Trade’ tab to unlock more order types and slightly better maker/taker economics, which are helpful when placing multiple entries or exits.

This view shows live order books, the latest trades and current prices near the ticket. See the sample layout with the order form on the left for clarity.

Users can toggle a dark theme for the advanced screen, which is a small but welcome feature for those who chart at night or who prefer reduced glare.

The main charting panel uses TradingView, a toolkit that is familiar to many traders as it is used by a number of exchanges. It enables the use of indicators, drawing tools and scripting for technical analysis when mapping trendlines.

Within the interface, you can switch between the price chart and the depth chart. The latter displays cumulative bids and asks, enabling traders to gauge liquidity pockets and market sentiment.

For example, large sell walls on BTC/CAD in the depth view suggest that bulls must absorb significant offers before prices can rise, in a manner similar to heavy overhead supply zones.

＼Unlock Up To 10,055 USDT In Welcome Rewards!／

Sign Up BTCC Now

Coinsquare Customer Service

Good support can make or break the experience of crypto trading — few things are more frustrating than unanswered queries — and Coinsquare generally responds efficiently. Coinsquare’s customer support comes in the form of a help centre (FAQs), email and support tickets.

The online FAQ section often resolves issues for broad questions, saving users the time they might otherwise spend opening a ticket.

For account-specific problems, a chatbot directs you to the ticketing system; although chatbots can be awkward, the response times from human agents were acceptable in our experience.

The official opening hours are 9:00 a.m. to 5:00 p.m. EST, Monday to Friday. Although the stated response time is one to three days, users typically received a response from Coinsquare within roughly twelve hours.

There isn’t phone support for standard accounts yet, but they may introduce it as staffing grows, similar to how Coinbase added a call option for some users.

[TRADE_PLUGIN]BTCUSDT,ETHUSDT[/TRADE_PLUGIN]

Is Coinsquare Legit?

Coinsquare is Canada’s first CIRO-regulated cryptocurrency marketplace. As a registered CIRO investment dealer, Coinsquare’s finances are monitored and audited by an independent, CIRO-approved accounting firm. Client assets are securely stored in cold storage with approved custodians at a ratio of 1:1, kept separate from operational funds and never utilised for lending purposes.

As a member of the Canadian Investment Regulatory Organization (CIRO), Coinsquare is held to the highest level of regulatory compliance. Its business practices, finances and trading activity are continuously monitored and subject to routine audits to ensure that the business is operated safely and in the best interests of all Coinsquare clients.

Best Coinsquare Alternative

Alternatives to Coinsquare are particularly appealing to traders who lay great emphasis on factors such as a broad selection of cryptocurrencies, competitive fee structure and robust security. When looking for the best Coinsquare Crypto alternative, interested investors are recommended to consider BTCC, one of the world’s longest-serving crypto exchanges.

Founded in 2011, BTCC stands out as a trusted and well-respected exchange due to its unwavering commitment to security and transparency. Since its establishment in 2011, BTCC has boasted an impeccable security track record, with zero reported hacks or breaches. Holding licenses in the U.S., Canada, and Europe, BTCC provides a comprehensive suite of trading features within a secure and regulated platform.

With a mission of providing a trading platform that is fair and reliable in every sense, BTCC platform supports spot trading for over 360 cryptocurrencies, crypto futures trading with leverage up to 500x, crypto copy trading that allows users to follow experienced traders, demo trading accounts pre-loaded with $100,000 in virtual funds, and tokenized futures for stocks and commodities.

At present, BTCC offers service in more than 100 countries and regions with more than 9.1 million registered users.When looking for the best Coinsquare alternative, BTCC is undoubtedly worth considering. For Canadian traders looking for wider selection of tradeable coins, competitive fee structure and robust security, BTCC stands out as the best Coinsquare alternative.

＼Unlock Up To 10,055 USDT In Welcome Rewards!／

Sign Up BTCC Now

Conclusion

In 2025, Coinsquare remains a strong contender in Canada’s crypto landscape, particularly for traders who value regulation, excellent customer support and domestic banking integration. While it may not satisfy active traders looking for extensive altcoin exposure or complex derivatives, its compliance-first approach makes it a reliable option for Canadian investors seeking a stable and transparent trading environment.

Despite the above-mentioned advantages, there are a number of concerns surrounding the exchange. They must take concrete steps to address the allegations of data breaches and wash trading. This is especially true given the competition they now face in Canada. Ultimately, Canadian traders seeking a broader range of tradable coins and enhanced security should consider BTCC as the optimal alternative to Coinsquare.

＼Unlock Up To 10,055 USDT In Welcome Rewards!／

Sign Up BTCC Now

BTCC Guide:

BTCC Exchange Review 2025

How to Earn Your 10,055 USDT Welcome Bonus on BTCC: A Complete Guide To Maximize Your Crypto Return

Understanding KYC In Crypto: How To Complete KYC On BTCC

Why Choose BTCC Futures: A Comprehensive Guide For All Traders

A Beginner’s Guide: What Is Copy Trading & How To Start Copy Trading On BTCC

How to Use BTCC Demo Trading: A Step-By-Step Guide For Beginners In 2025

What Is Spot Trading In Crypto & How To Start Crypto Spot Trading On BTCC: A Comprehensive Guide For 2025

BTCC Referral Code 2025: Inviting Friends To Sign Up On BTCC

Crypto Investing Guide: