Kraken alternatives for Canadian crypto traders

Comparing of 6 Kraken alternatives

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Coinbase

Highlights

Both exchanges offer a large number of crypto assets to choose from.
Fees to trade and withdraw funds are cheaper on Kraken versus Coinbase.
The user experience is high quality on both exchanges, catering for traders at all levels.
Both offer excellent customer support, including telephone support.

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

Coinsquare's QuickTrade feature instantly makes trades between any two currencies, whether it's XRP to Ethereum, or Litecoin to EUR.
Enjoy low, transparent fees and no trading minimum.
Kraken offers advanced functionality like staking.

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

To get started, NDAX will require a minimum deposit of $100.
Withdrawal fees are higher at NDAX compared to Kraken.
NDAX offers a digital asset OTC trading desk built exclusively for investors looking to trade $200,000 or more.
NDAX’s customer support representatives are available 24/7 to help you with any questions that you may have. Kraken also has 24 hour support.

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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Bitbuy

Highlights

Kraken offers much more to trade compared to what’s listed on Bitbuy.
Bitbuy requires a $100 minimum deposit, which is higher than what you need to start on Kraken.
Both exchanges are registered with FINTRAC and available across Canada.

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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Not available for application via this website

Shakepay

Highlights

You can only trade Bitcoin or Ethereum with Shakepay, making it more geared to beginners or those with no interest in altcoins.
Deposits and withdrawals are free with Shakepay. Both exchanges charge a fee on trades.
New traders and investors will find both Kraken and Shakepay simple and easy to understand.

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 prices are on average 3x lower than a leading cryptocurrency exchange competitor.
Fund and withdraw from your Newton account for free.
Newton and Kraken both are extremely well designed. Newton has less advanced functionality though, but they continually add new coins.

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.