Binance alternatives for Canadian crypto traders

Comparing of 7 Binance alternatives

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Bitbuy

Highlights

If you are new to crypto trading, Bitbuy is for you. Binance’s advanced tools are designed to support experienced investors.
There are more cryptocurrencies listed on Binance compared to what’s available on Bitbuy, including many altcoins and NFTs.
Based in Toronto, Canada, Bitbuy is regulated by FINTRAC and available throughout Canada. Binance is unavailable in Ontario.

Pros

Fee discounts kick in when you trade more — helpful if you’re regularly moving large amounts.
No charge to deposit crypto or CAD, and withdrawing CAD through Interac is also free.
Most digital assets are kept offline in cold storage with regular security audits.
The Pro platform supports advanced order types, charts, and real-time execution — ideal if you’re looking to step up your trading

Cons

Express trades can be costly, especially if you’re just making small or occasional transactions.
Crypto withdrawals (especially ETH or ERC-20 tokens) can get expensive.
Coin selection is relatively limited compared to global platforms.

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Coinbase

Highlights

Offers a substantial list of digital assets including many altcoins. Binance still offers more though.
Coinbase offers recurring buys, like with Binance. Daily, weekly, or monthly available.
Crypto stored on Coinbase servers is covered by its insurance policy.

Pros

The interface is clean, simple, and ideal for beginners—one of the easiest ways for Canadians to get started with crypto.
Strong focus on security, with 2FA, cold storage, and insurance on custodial assets.
You can earn small amounts of crypto through educational mini-courses via Coinbase Earn.
Supports Apple Pay and Google Pay, making fiat-to-crypto purchases more convenient

Cons

Trading fees are high compared to other platforms—best for small, infrequent buys.
No advanced features like futures or margin trading.
Limited customer support options, and response times can be slow during peak periods.

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Not available for application via this website

Coinsquare

Highlights

Binance has substantially more trading pairs than what's available with Coinsquare.
Assets stored on either exchange are not covered by insurance, which is the case with others.
Coinsquare is available for all Canadians and is a registered MSB with FINTRAC, unlike Binance.

Pros

Designed for Canadian users with full FINTRAC and OSC registration, offering regulatory peace of mind.
Two platform views: Simple Trade for beginners and Pro Trade for experienced traders.
Transparent fee structure with no spread markups on the Pro Trade platform.
Offers institutional-level OTC services with personalised support for large-volume trades.
Mobile app is responsive, intuitive, and includes real-time portfolio tracking.
Strong security protocols in place, including multi-factor authentication and insurance-backed custody

Cons

Instant Buy/Sell comes with a higher fee of 1.5% but is ideal if you want speed and simplicity over lower-cost execution.
Smaller coin selection than global exchanges.
No passive income features like staking or yield farming.

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Ndax

Highlights

NDAX requires a minimum deposit of $100.
Withdrawals from NDAX are more expensive compared to Binance.
NDAX’s customer support is highly regarded and available 24/7.
Both exchanges store digital assets in cold wallets.

Pros

You can fund your account with CAD through Interac, bank transfer, or wire — no need to convert currencies.
Offers a clean, intuitive interface that’s friendly to both beginners and experienced traders.
Supports a solid list of popular cryptocurrencies, including Bitcoin, Ethereum, Cardano, and more.
Cold storage is used to keep the majority of client funds secure offline.
Registered with FINTRAC and held to Canadian AML standards, giving it strong credibility locally.

Cons

The flat 0.20% trading fee is competitive but not the lowest in the market.
No staking or interest-earning options, which could matter to users looking for passive income.
Its mobile app works well for basic tasks, but lacks some of the more advanced charting tools on desktop.

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Not available for application via this website

Shakepay

Highlights

Shakepay only supports 2 major coins, Bitcoin and Ethereum. Binance has a much broader offering, including an NFT marketplace.
Deposits and withdrawals are free at Shakepay.
Although Shakepay does not charge a trading fee, take note that each transaction incurs a spread fee.
Licensed as a Money Service Business by FINTRAC and the AMF, Shakepay is available for all Canadians. Binance isn’t available in Ontario.

Pros

One of the fastest ways to buy BTC or ETH in Canada.
Shakepay Card lets you earn Bitcoin cashback on everyday purchases.
Strong track record of security, with 2FA, biometric logins, and insurance on assets held in custody.
Clean, mobile-first app makes it easy to manage trades and transfers on the go.
Solid customer support via in-app chat with good response times.
Regulated by FINTRAC, with crypto assets held securely in cold storage.

Cons

Supports only Bitcoin and Ethereum.
No advanced trading features like limit orders or technical charting tools.
Spread-based pricing means you may not get the absolute best market rate.

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Not available for application via this website

Newton

Highlights

Newton is clearly more geared towards a beginner trader. Its user interface is one of the best in Canada.
You can fund and withdraw from your Newton account for free.
Newton is built in Canada and is FINTRAC regulated. Binance is not and is unavailable to those in Ontario.

Pros

Strong focus on low-cost trading.
Intuitive mobile and web platforms designed for speed and simplicity, even for first-time traders.
Real-time price tracking, limit orders, and auto-withdrawals support hands-off portfolio management.
Offers carbon-neutral trading by offsetting the environmental impact of crypto transactions.
Crypto assets are stored with institutional-grade custody provider Balance.

Cons

Limited advanced trading tools may not suit users seeking margin or derivative trading.
The selection of coins is smaller compared to global exchanges.
Customer support is responsive but currently limited to email and chat.

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Kraken

Highlights

Kraken has a substantial choice of tradable assets, but Binance has more.
Kraken’s trading and withdrawal fees are lower than they are on Binance.
Binance is tailored for advanced traders while Kraken is best suited for beginner or intermediate traders.
Kraken is FINTRAC-registered and available anywhere in Canada.

Pros

Great for building a diversified or DeFi-focused portfolio.
Advanced traders benefit from maker/taker pricing that becomes competitive as volumes grow.
Security is top-tier.
You can stake coins directly through Kraken with flexible terms.

Cons

Interac e‑Transfer deposits carry a 0.5% fee, and withdrawals have a $10 charge, higher than some Canadian peers.
Instant buy fees are steep.
Deposit and withdrawal processes can be confusing and slow, with some users seeing delays of up to several days.
No native Canadian tax-reporting tools on the platform.